Paypal opening up app crypto users

[Emawa]

PayPal said Thursday that it is opening up its nascent cryptocurrency services to all eligible U.S. users.

"We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal," the firm said in a statement.

https://www.theblockcrypto.com/linked/84398/paypal-opening-up-app-crypto-users

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[seoincorporation]

If you see the bitcoin price, it starts going up when PayPal open the doors to it. The number of new users we are getting in to the cyiptos world had a nice spike after paypal do this move, so, if they are getting more users join to the party then the price will keep going up, this are good news for us.

[Oshosondy]

This is a great move because it will help in bitcoin adoption but I can not use the service even if I am from US, I can make use of my noncustodial wallet for the payments, although I understand I will not be able to buy in some online stores with noncustodial wallets but I am good with that than using PayPal which I believe the fee will be high also. I like the move but I am not interested, I like my privacy very much.

[BIT-BENDER]

Adoption of bitcoin in the US and everywhere by people is not only because of firms like paypal made such new options, it will help only when the people wanting to adopt it because of that reason had already known somethings about Bitcoin, but if they don't they will still pick the routine option on paypal, But I think this is better news for Bitcoin-ners in the US, those that were waiting for this on paypal.

[The Cryptovator]

What's new except increase the buy limits? This is old news that PayPal allowed its US users to buy Bitcoin and hold on there. Definitely, this is a positive move from PayPal, and I think they have taken a real time decision. I am just wondering if there is still a chargeback issue for Bitcoin that would hit the goal of Bitcoin. PayPal isn't just adopting Bitcoin, but also they are promoting among crypto users. Since they have a good reputation so some peoples would believe that invest in Bitcoin is somehow worth now.

It would be a more positive move if PayPal allows its users to broadcast transactions in the blockchain. I don't know why they limit it to an off-chain transaction that has been discouraging me hold bitcoin in PayPal.

[carter34]

If you see the bitcoin price, it starts going up when PayPal open the doors to it. The number of new users we are getting in to the cyiptos world had a nice spike after paypal do this move, so, if they are getting more users join to the party then the price will keep going up, this are good news for us.

Yes the first adoption of PayPal to bitcoin made an up trend for bitcoin and many more who were not in bitcoin platform started a new investment and now this is another milestone, not for just bitcoin but for cryptocurrency. It is going to help in further up movement to bitcoin.

[usekevin]

PayPal said Thursday that it is opening up its nascent cryptocurrency services to all eligible U.S. users.

"We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal," the firm said in a statement.

https://www.theblockcrypto.com/linked/84398/paypal-opening-up-app-crypto-users

It seems to be good news. But we don't know what will be the check after we adapted to such environment.Paypal is the easiest one to do trading. Since it's announced as a legal to US citizens, so it will impact the price of bitcoin. We can expected the price will reach above 16500$.It's easy to hold the cryptocurrency, if we buy at low price.

[pakhitheboss]

Adoption of bitcoin in the US and everywhere by people is not only because of firms like paypal made such new options, it will help only when the people wanting to adopt it because of that reason had already known somethings about Bitcoin, but if they don't they will still pick the routine option on paypal, But I think this is better news for Bitcoin-ners in the US, those that were waiting for this on paypal.

WOW!!!
So you believe PayPal or companies were the reason why we achieved an ATH in 2017. That being said it is appalling to read members like you believing PayPal the main reason for Bitcoin adoption. Come on man Bitcoin adoption started happening way before companies like PayPal started accepting Bitcoin.

Usually you will always see Bitcoin USD value will increase in the month of November. It is not because a particular company started accepting Bitcoin

[Twinkledoe]

Adoption of bitcoin in the US and everywhere by people is not only because of firms like paypal made such new options, it will help only when the people wanting to adopt it because of that reason had already known somethings about Bitcoin, but if they don't they will still pick the routine option on paypal, But I think this is better news for Bitcoin-ners in the US, those that were waiting for this on paypal.

WOW!!!
So you believe PayPal or companies were the reason why we achieved an ATH in 2017. That being said it is appalling to read members like you believing PayPal the main reason for Bitcoin adoption. Come on man Bitcoin adoption started happening way before companies like PayPal started accepting Bitcoin.

Usually you will always see Bitcoin USD value will increase in the month of November. It is not because a particular company started accepting Bitcoin

Yes, bitcoin adoption has been happening even before this PayPal accepted crypto in their system. I remember the time when Paypal froze some accounts owed to crypto dealings, now, they ate what they spit out before. But in any case, already a good way to contribute in btc adoption, but they are not the main reason though.

[Kupid002]

If you see the bitcoin price, it starts going up when PayPal open the doors to it. The number of new users we are getting in to the cyiptos world had a nice spike after paypal do this move, so, if they are getting more users join to the party then the price will keep going up, this are good news for us.

Yes the first adoption of PayPal to bitcoin made an up trend for bitcoin and many more who were not in bitcoin platform started a new investment and now this is another milestone, not for just bitcoin but for cryptocurrency. It is going to help in further up movement to bitcoin.

It could been the reason why the price of bitcoin started to push up. but this is not the main reason there are many other like election and other news that people think can help the price of Bitcoin to go up.  Even they already add that option but not  that many people buy Bitcoin using their platform yet. So I guess they  need time and have more buyers first  to be considered as one of the main reasons why the adoption increase .

[2double0]

So they were waiting for the elections to come up with this news later? Well, that was expected. And why not? They are playing their cards one by one but end of the day, you are not going to own any crypto in your hands but you will only see a value there, and there is no guarantee that PayPal will buy the btc for you as they are not allowing any withdrawals.

[shield132]

Would love to keep an eye on paypal's announcements. Seems, their statements have a positive influence on bitcoin's price and if we consider the fact that right now there isn't any significant implementation of crypto on Paypal and it's in USA right now (buy/hold/sell, not wallet to send or receive), then I would say that halving + paypal means that we will have a new crypto year 2021.  Personally, I am on a very positive vibes, don't like the fact that bitcoin is aggressive adopted (have my reasons, bitcoin is become a business, not a coin that it was meant to be) but still, everything has it's pros and cons.

[The Sceptical Chymist]

I was almost going to start a thread about this today, but I decided not to.

Got a text from PayPal today (which I deleted) telling me that I'm off of the waitlist of US customers in line to start using whatever it is they think they're doing with bitcoin.  Because of another thread I recently read on the forum (and I can't find the post I made in my post history for some reason), I decided that there's no way I'm going to be using PayPal's crypto service.  As far as I can tell, you're not able to buy any actual bitcoin from them, just a bitcoin balance held on PayPal's books which you can use....for whatever.

And as I said in that other thread, this is the same thing Robinhood does.  When you "buy bitcoin" through them, you're simply speculating on the price of bitcoin; you don't have access to your private keys; and you can't deposit or withdraw bitcoin.  I'm going to pass on services like these.  If you're not in custody of your private keys you don't own your coins, and there's absolutely no advantage for me to purchase bitcoin through PayPal (or Robinhood) when I could buy actual bitcoin at preev 1:1 right here on this forum if I wanted to.

[coin-investor]

PayPal said Thursday that it is opening up its nascent cryptocurrency services to all eligible U.S. users.

"We are pleased to announce that all eligible PayPal accountholders in the U.S. can now buy, hold and sell cryptocurrency directly with PayPal," the firm said in a statement.

https://www.theblockcrypto.com/linked/84398/paypal-opening-up-app-crypto-users

I'm not planning to buy and sell Bitcoin using Paypal because we already have exchanges doing this in our country, but I'm interested to see my own PayPal dashboard with Cryptocurrency features on it, I'm not from the US but there are active PayPal users here in our country this is a good step to introduce to unbelievers here in our country, if they Cryptocurrency in their dashboard they will treat it as a legal online currency.

[mk4]

As far as I can tell, you're not able to buy any actual bitcoin from them, just a bitcoin balance held on PayPal's books which you can use....for whatever.

If I understood it correctly though, PayPal is actually required by law to actually have real bitcoin. Hence why PayPal is at a partnership with Paxos for the custody of the "real" bitcoins. I'm definitely not saying that people should buy bitcoin from PayPal because you'd actually need to trust both companies(which is unnecessary), but yea.

[Joel_Jantsen]

And with that comes this

Sauce : https://www.reddit.com/r/ethereum/comments/jswpkn/never_thought_id_see_the_day/

Not sure if this decision is exactly going to do any good for bitcoiners. PayPal is already heavily abused by scammers and traders so adding a feature to a broken system is only going to make it worse. I hope I don't have to do KYC for small transactions now.

[pugman]

I was almost going to start a thread about this today, but I decided not to.

Got a text from PayPal today (which I deleted) telling me that I'm off of the waitlist of US customers in line to start using whatever it is they think they're doing with bitcoin.  Because of another thread I recently read on the forum (and I can't find the post I made in my post history for some reason), I decided that there's no way I'm going to be using PayPal's crypto service.  As far as I can tell, you're not able to buy any actual bitcoin from them, just a bitcoin balance held on PayPal's books which you can use....for whatever.

And as I said in that other thread, this is the same thing Robinhood does.  When you "buy bitcoin" through them, you're simply speculating on the price of bitcoin; you don't have access to your private keys; and you can't deposit or withdraw bitcoin.  I'm going to pass on services like these.  If you're not in custody of your private keys you don't own your coins, and there's absolutely no advantage for me to purchase bitcoin through PayPal (or Robinhood) when I could buy actual bitcoin at preev 1:1 right here on this forum if I wanted to.

Ewwwww yuck. Damn all the hype for paypal x crypto was just for this?? hello excuse me?

Damn man, I thought there would just be hurdles like KYC for Paypal x crypto, but not even getting the option to buy actual btc, or even deposit or withdraw? That's absolutely shitty.

my hopes for finding a good exchange is going lower by the day . (I know paypal doesn't count qualify as an exchange but whatever).

[mk4]

And with that comes this

The word "crypto" makes me really cringe to be honest. Wished they stuck with bitcoin only but whatever, there's demand for other coins and they definitely wanted to make money off the demand.

Damn man, I thought there would just be hurdles like KYC for Paypal x crypto, but not even getting the option to buy actual btc, or even deposit or withdraw? That's absolutely shitty.

Not going to defend PayPal here because screw PayPal, but to be fair, it's been the same with CashApp in the past whereas withdrawals and deposits came at a later date. And here we are with CashApp skyrocketing in user count. I expect the same with PayPal as they already have hundreds of millions of users ready to pounce in.

[hugeblack]

If we look at it more closely, we will notice that many sites will start providing cryptocurrency services as a balance while keeping those currencies, for example, I can send currencies to your PayPal account, and then it will appear in your balance.

The thing that attracts Bitcoin is the fluctuation of their prices and the possibility of using them as a safe haven or cheap transfers, but it seems that considering them as an investment is what drives many people to use them.

It is centralized until regulatory bodies issue regulations that make decentralization more difficult.

[robelneo]

It is centralized until regulatory bodies issue regulations that make decentralization more difficult.

Decentralization is here to stay even if PayPal integrated Cryptocurrency I don't think the decentralization essence of Cryptocurrency will vanish, companies like PayPal just want to explore the technology of Cryptocurrency while trying to retain their centralized nature, this is actually like if you can't beat it join it thing, Paypal started this and many more will follow Paypal's lead.