Will PayPal be a new crypto-exchange?

[coin-investor]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

Why not, they have the money they have the market, they have millions of clients, what would stop them, I have this believe that they are doing a big shift from embracing Cryptocurrency to the fullest and setting up an exchange is not a remote possibility, they do have the resources to make this happen, Paypal entry to the Cryptocurrency by adding it in their platform is just the start and I don't think they will stop there, the technology is young and there are so many things to explore.

[Shasha80]

No one can guess what will happen to the future of Paypal. But if you see Paypal as a big platform, of course they will think to develop
their platforms even bigger. And I think they accept cryptocurrency now just want to test their users, whether many are interested in
cryptocurrency or not. Therefore, currently Paypal only allows cryptocurrency transactions only on their platform, and only for American
citizens. So if crypto enthusiasts are high enough on their platform, I'm sure Paypal will become a centralized crypto exchange.

[Kopetunto]

Paypal is not a trading platform, paypal is a digital wallet and is now integrated with Blockchain,
that's why they accept cryptocurrency, their system is the same as other wallets such as Myetherwallet or Blockchain.com.
and don't compare it with a trading platform, it's obviously very different.

[MCobian]

If you look at the current conditions, it seems impossible for Paypal to become a new crypto exchange, Paypal's purpose as a become third service
facilitate transactions between customers and merchants. Not as a platform for trading, so in the near future it is unlikely that Paypal will become
an exchange. But in the next 10 years it is possible that Paypal will change its mind and Paypal becomes a crypto exchange, if the development of
cryptocurrency is getting faster. And Paypal considers cryptocurrency profitable.

[ololajulo]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

I also once believe Paypal will be a competitor to the existing centralized crypto exchange site but that change after I read some messages posted on Reddit about what Paypal is really offering which was said to be different from crypto activities because the whole process is done in fiat and users are also unable to withdraw their crypto. However, Paypal may be a competition to other centralized exchanges if they change all this process and operate just as crypto exchange does.

What happens if I can't gain the custody of my purchase? Any advantage to this and for how long will the wait to gain the custody of my bitcoin?

[cheezcarls]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

No not possible. I don’t think it will happen anytime soon. We can just simply deposit Bitcoin, Ethereum, Bitcoin Cash and Litecoin and hold it, but Paypal has the custody of our assets. They have a history of freezing accounts without any reason. As the old man said, “Not your keys, not your coins”.

[suzanne5223]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

I also once believe Paypal will be a competitor to the existing centralized crypto exchange site but that change after I read some messages posted on Reddit about what Paypal is really offering which was said to be different from crypto activities because the whole process is done in fiat and users are also unable to withdraw their crypto. However, Paypal may be a competition to other centralized exchanges if they change all this process and operate just as crypto exchange does.

What happens if I can't gain the custody of my purchase?

Anything can happen mate, they can choose to freeze user fund cause they can raise any restrictions or rules and you have no choice than to dance to their tunes.

Any advantage to this and for how long will the wait to gain the custody of my bitcoin?

The only advantage I see now is that will help cryptocurrency gain more awar, hype and trust within the institutions. Nevertheless, no one know if the Paypal will change their mode of crypto operation but I think some of their services will change next year when their crypto services are spread outside the US.

[Inspiron14]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

No not possible. I don’t think it will happen anytime soon. We can just simply deposit Bitcoin, Ethereum, Bitcoin Cash and Litecoin and hold it, but Paypal has the custody of our assets. They have a history of freezing accounts without any reason. As the old man said, “Not your keys, not your coins”.

paypal is indeed a well-known wallet in the world of digital currency, and has been used almost all over the world,
indeed that is good news for cryptocurrencies, because platforms like paypal want Bitcoin to be in it,
but if you think paypal will be a place of exchange as well for now paypal won't Having said that,
its enough to send and store bitcoins in my opinion.

[barbara44]

It is not really an "exchange" as we know it. They are acting more like a crypto bank and I am fine with that. As far as I know you cannot withdraw bitcoin from there, but you can keep buying and investing into bitcoin and you do not have to worry about withdrawing because if you really want to withdraw you could just cash it out to dollars and put it somewhere else.

If your desire is to move to fiat you can do it there anyway and it is very quick, however if you want to move your bitcoins at paypal to some other crypto place, you would just have to cash it to fiat on paypal first and send it to wherever you need to in any crypto exchange and buy bitcoins with it. It would take some fee's to do this but you can still do it. So it is not really an exchange, but more like a bank.

[Imran232]

Honestly if i say, i don't think so it could be happen. No doubt paypal is world largest user base, fastest transaction maker and most secure internet mobile bank. When they add crypto currency swap option no doubt its a biggest news for crypto user now they can exchange their money from the world most trusted source. But i don't think so that PayPal could be a future crypto exchange because paypal already popular for general currency and crypto exchange need lots of option like lots of trading option which is p2p, future and more. But they can't do this with their mobile app because people use paypal for their simple interface if they turn this into crypto exchange then it will be difficult for simple paypal users who dosen't like crypto. But if they want they can launch another separate apps or site for crypto. But for now their spot swap option is best because It's 0 swap fees.

[CaVO32]

Honestly if i say, i don't think so it could be happen. No doubt paypal is world largest user base, fastest transaction maker and most secure internet mobile bank. When they add crypto currency swap option no doubt its a biggest news for crypto user now they can exchange their money from the world most trusted source. But i don't think so that PayPal could be a future crypto exchange because paypal already popular for general currency and crypto exchange need lots of option like lots of trading option which is p2p, future and more. But they can't do this with their mobile app because people use paypal for their simple interface if they turn this into crypto exchange then it will be difficult for simple paypal users who dosen't like crypto. But if they want they can launch another separate apps or site for crypto. But for now their spot swap option is best because It's 0 swap fees.

That's what I am thinking here. They will create a separate tab maybe or site to dedicate their exchange feature, if in case they will explore this opportunity. But the likelihood of setting-up their own is high. They will start with 4 cryptocurrencies right now, but if they will see the advantage of having internal exchange within their platform, they may eventually create their own. As some users will convert their crypto from one alt to another, depending on their needs or consideration like transfer fees, if they will see this need, they may create their own.

[Stedsm]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

As you can see, they didn't open an exchange immediately but are using another exchange as a medium to buy BTC for their customers who put their money in crypto through PayPal (at least that is what they wrote in it). Now, it's impossible for PayPal to match the total number of BTC's demand for their wide range of users which is why they are not allowing us to withdraw our crypto but just keep it inside, see it and sell it when we see the value increased. Do you really think they are looking into any such business like entering an exchange business, that too crypto? I don't think so.

[Emily Perkins]

yes, that's my thoughts too, they have all the means and a lot  of money. Of course they don't reveal what's in their pipeline, despite of many rumors lont time ago they always officially denied any involvement in crypto-business.

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

It's not impossible! Paypal is a big business entity with ample of cash ready for investment. So if they sniff the opportunity to make big money out of crypto exchange business, then I see no reason for them not to start a full fledged crypto exchange!

Probably, they have Similar plan in the pipeline, who knows! Probably, they have just taken an initial step to understand more about the market and later they will come up some bigger plan.

Nothing is permanent is the world of business! One prime example is JPM's u-turn about crypto matters. So I won't be surprised if Paypal comes up with a full fledged crypto exchange platform in future!

[Emily Perkins]

I think it's a trial step for PayPal and they may continue to develop further with broader features and functionality like full crypto-exchange if they see a good opportunity.

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

As you can see, they didn't open an exchange immediately but are using another exchange as a medium to buy BTC for their customers who put their money in crypto through PayPal (at least that is what they wrote in it). Now, it's impossible for PayPal to match the total number of BTC's demand for their wide range of users which is why they are not allowing us to withdraw our crypto but just keep it inside, see it and sell it when we see the value increased. Do you really think they are looking into any such business like entering an exchange business, that too crypto? I don't think so.

[Emily Perkins]

True, I read some stories about how PayPal froze some accounts without any reasons, I wouldn't trust all my crypto to 3rd party custody.

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

No not possible. I don’t think it will happen anytime soon. We can just simply deposit Bitcoin, Ethereum, Bitcoin Cash and Litecoin and hold it, but Paypal has the custody of our assets. They have a history of freezing accounts without any reason. As the old man said, “Not your keys, not your coins”.

[Oasisman]

True, I read some stories about how PayPal froze some accounts without any reasons, I wouldn't trust all my crypto to 3rd party custody.

Well, pretty much all of the exchange cannot be totally trusted, and every exchange has the power to freeze your account. The moment you send your crypto to an exchange, then those crypto doesn't belong to you anymore automatically.
If PayPayl completely operates as an exchange, it will fall under the centralized exchange category, and I don't think a lot of crypto enthusiast would like to engage with centralized exchange.

[DarkDays]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

I don't see PayPal serious enough about the cryptocurrency market to turn into some sort of centralised exchange. The reason for this is that in my opinion Paypal added the ability of its customers to buy/sell crypto only as a "face" and to ensure that if crypto does end up handicapping the finance industry (which I think at some point in the future is inevitable) they will have a stand in it and won't be missing out.

Even if they were to adopt something like that in the future it won't make it any different from a centralised exchange like eToro, and definitely not close enough to DEX.

[sarmrakib]

Since PayPal just announced that crypto trading and payment services went live in the US, do you think PayPal may turn into a big competitor to existing cryptoexchages? They can also launch a crypto-currency trading desk as well, why not.

Yes why not ,They already accept crypto as transaction way .The door has just opened many more are coming .If they open a trading desk they could open a exchange as well .So we have to be patient and see what are big coming with Paypal.

[CryptopreneurBrainboss]

Even if they were to adopt something like that in the future it won't make it any different from a centralised exchange like eToro, and definitely not close enough to DEX.

Decentralization exchange was never in the picture as that'll be impossible to pull off. Everything about paypal points to centralization and if they were to adventure into the exchange industry theyll be doing it the centralized way and been more strict than what we're currently experiencing with other centralized exchanges.

There's money in the exchange business and that'll be one of the perfect avenue to profit from the industry which is what paypal is just after as their recent move is just money motivated and not to bring about development to the Industry but still they'll be bringing that indirectly.

Already they're becoming an exchange, you can buy multiple alts and not just Bitcoin, with time they'll realized they can make more profit if they introduced new tokens and slowly they'll turn their platform to a force in the exchange industry.

[pamsugas]

of course it can happen, nothing is impossible especially paypal has just announced that they accept crypto. if paypal opens a trading table it is possible that the crypto world will continue to grow, many companies will be interested because paypal opens its trading table. i would say binance will soon gain a very strong competitor