Almost 20% of Paypal Users Trade Bitcoin Using the App

[shoreno]

that 20 percent could be the existing users of paypal and are curious to try if what is btc or how btc trading works so they try it but that 50 percent new addition users of paypal could be users that didnt have a paypal before but wants to experience how it feels to trade btc or other crypto inside the paypal app .

20 percent is huge and thats not bad for starters and the number of that percent are still expected to grow by next year . that can support the price if ever btc bull run are going to an end .

[fauzan123]

Unfortunately this only applies in the US. Most paypal users who buy bitcoin at the beginning of its release will spend it because bitcoin is currently experiencing an increase, and of course users will get a greater quantity of goods and services.

Indeed, at this time it can still be used in the US, hopefully in the future everyone can use it without exception. To a lesser extent paypal does have an impact on bitcoin prices which had jumped sharply when paypal collaborated with bitcoin. Of course this is positive news and have heard that Amazon also wants to use bitcoin, is it true?

[Smeet]

Even though people are not in favour of paypal adding bitcoin on their platform (since keys are not controlled by owner), I think the amount of people being introduced to the overall currency is a very good thing.

The new people coming into bitcoin would probably want to learn more and hopefully go off paypal to secure their own keys

[coin-investor]

According to the survey conducted by Mizuho Securities, after Paypal adopted cryptocurrency to its platform, almost 20% of Paypal users have traded using its app. And it was stated on the survey that there has been a remarkable increase of 50% in the use of the Paypal app by PayPal bitcoin traders after beginning to trade bitcoin.

More details here: https://crypto.co/technology/almost-20-of-paypal-users-trade-bitcoin-using-the-app/

That's good news and I expect the figure to go up for those who wants to try it and for those who wants to make profit

The part of the article that i really like is this one

Paypal together with its rival, Cash App is now buying up all of the newly-issued Bitcoin.

These two company are helping the price to move up and we owe it to them, this is going to create a domino effect many companies will follow PayPal and Cash App, it's a motivation for us to buy.

[BTCappu]

According to the survey conducted by Mizuho Securities, after Paypal adopted cryptocurrency to its platform, almost 20% of Paypal users have traded using its app. And it was stated on the survey that there has been a remarkable increase of 50% in the use of the Paypal app by PayPal bitcoin traders after beginning to trade bitcoin.

More details here: https://crypto.co/technology/almost-20-of-paypal-users-trade-bitcoin-using-the-app/

I keep wondering how this PayPal Bitcoin trading of a thing looks like lol, I don’t live in the US so I can’t really tell. But the question I have in mind is whether PayPal will be good for day to day trading?

If you buy and sell Bitcoin multiple times in a day wouldn’t your account be marked as a suspicious activity and blocked for that reason?

I think PayPal will be much better if you’re someone that has plans to buy the Bitcoin from them and then hold it for long. And from the news I have seen everywhere it’s not cool that people don’t control their asset on a 100%, doesn’t seem nice to me.

[palle11]

It is still limited until now because only users in the US can enjoy this feature. Maybe European, Asian and other continental countries have to wait even more patiently.

That is not a reason for me. Even with limited number of continental usage, we are seeing more growth to everybody. It is just few people then price has really improved to this height, ATH is on the way and maybe we go pass it before the year end.

[verita1]

Talking about Bitcoin comes to mind for anyone on the exchange. It is natural for PayPal users to want to exchange bitcoin. I think the use that is being given to the app is positive. Today most of the things we can do from the smartphone. The crypto trade is in demand from the mobile we can check it with all the apps that are creating the exchanges that we know as Binance, KuCoin among others. Good news everyone, e-commerce and crypto will be gaining ground.

[cabron]

That 20% probably want to buy BTC before paypal join the crypto space but they are just not so open to using 3rd party as well as they don't trust BTC or crypto before. Some of them only trust paypal but now they want to profit in buying BTC. 20% is a big number considering there are Millions of paypal users.

Sadly they are not allowing withdrawal of BTC, there is no sense buying there in this case. But I hope a paypal user will come here to help us see what can be done in their platform.

[SmokerFace]

Glad to see individuals are interested in using bitcoins. However, it's exceptionally hazardous for individuals who live outside the US.
On the off chance that your account gets restricted, you can lose your all bitcoin, and they'll freeze forever.
I trust 20% of people groups have a place with the United States. If they're exchanging outside the US, their cash is exceptionally hazardous.

[crwth]

Glad to see individuals are interested in using bitcoins. However, it's exceptionally hazardous for individuals who live outside the US.
On the off chance that your account gets restricted, you can lose your all bitcoin, and they'll freeze forever.
I trust 20% of people groups have a place with the United States. If they're exchanging outside the US, their cash is exceptionally hazardous.

I don't think you will get restricted because PayPal is only letting US Citizens trade it accordingly. Maybe they could somehow get PayPal credits and exchange them for whatever they desire but they couldn't get the Bitcoin out anymore. Maybe if they have transactions outside the US and go directly to PayPal (if they accept BTC deposits) then convert it and transfer to another PayPal account using credits or something.

I believe the reason for people to have an increase in crypto users using PayPal because they are the ones offering the service. It has been made available to people who have no access to it previously but supports cashless payments etc.

I still think that PayPal has made it more applicable to everyone but the fact that you cannot withdraw BTC from them, it's a shame. Unless there is now.

[stompix]

Glad to see individuals are interested in using bitcoins. However, it's exceptionally hazardous for individuals who live outside the US.
On the off chance that your account gets restricted, you can lose your all bitcoin, and they'll freeze forever.

Crwth already told you, you can't purchase BTC via Paypal if you reside outside the US.
Now, to add a few things, if you plan to do that faking information, then you are already taking risks, there is no point arguing if Paypal does restrict your account.

Second, no matter how bad Paypal reputation is when it comes to freezing accounts and money there is one thing, if you have deposited those via a legit bank and you have no chargebacks from hacked PP accounts it's almost sure you will get what is left in your account delivered to your bank account. No matter what people say I would trust (even as a foreigner and not a US citizen but EU) Paypal more than some exchange that is based in HK or Seychelles or god knows what.

I still think that PayPal has made it more applicable to everyone but the fact that you cannot withdraw BTC from them, it's a shame. Unless there is now.

That will not happen soon, unfortunately. And if it might in a few years for the US customers I doubt they will do it for anything outside Canada or the EU.
It will be a pain in the ass for them, it will also lead to a lot of shady activity and I can understand them, they will not get that much growth in business to offset the troubles it will cause.

380 is a lot of people to be fair, the larger the data set, the longer it takes to complete the survey and not to mention that they need manpower to conduct the survey.

380 people is nothing compared to the userbase, just think we have thousands of people joining a bounty survey here, what is 380 out of millions?
The minimum survey to be even closely representative is above 1000, and it has to be targeted, in this case, it was just thrown away at some people from a group that was going to be biased from the start.

But look at the bright side, if we're not at 20%, most likely at 1-3%, so it can grow 30 times, not just 5.

[crwth]

I still think that PayPal has made it more applicable to everyone but the fact that you cannot withdraw BTC from them, it's a shame. Unless there is now.

That will not happen soon, unfortunately. And if it might in a few years for the US customers I doubt they will do it for anything outside Canada or the EU.
It will be a pain in the ass for them, it will also lead to a lot of shady activity and I can understand them, they will not get that much growth in business to offset the troubles it will cause.

Maybe the one they're aiming for is the increase of the stack of BTC that they have, knowing that they would be able to cash out more in the future or something. At least in the US, there are already a lot of crypto users and interested people using PayPal already and could potentially earn more from them with this setup. If they become successful, I think they would also apply it to other regions as well.