Xinarae*
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February 07, 2021, 04:11:49 AM |
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PayPal's success is the reason for many victories for crypto many countries around the world can easily transact using PayPal cryptocurrency which is why bulls are running on other crypto platforms. For crypto trading, those who trade by looking at the daily technical chart can use this method in this way you can buy coins and sell them on the same day. As the value of cryptocurrencies fluctuates a lot you can earn a good amount of money by reviewing charts in a short time without waiting too long.
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plr
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February 07, 2021, 05:32:49 AM |
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They should have done this long ago, anyway, they added people's curiosity on Cryptocurrency because of their continuous bashing and FUDS now they are now investing and integrating, adoption will be easy now with their millions of members, Cryptocurrency is now mainstream and it will continue to be so once Facebook gets in with their own version of the coin.
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LogitechMouse
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February 07, 2021, 06:08:34 AM |
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Any news that is related to Paypal has an effect on the price of crypto especially Bitcoin. This doesn't.
This might be a good news to anybody but it will not have any effect on the crypto market if they aren't accept people to transfer or withdraw their BTC in Paypal to another wallet. Right now you are just buying Bitcoin that is under Paypal. Might sound complex but you know it. You aren't holding a true Bitcoin since you can't transfer it. You are holding a Bitcoin that is being owned by Paypal itself. Wait for Paypal to accept transferring of Bitcoin funds and wait for them to integrate the feature that will accept merchants to be paid in crypto. That will be a huge news for sure.
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Shasha80
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February 07, 2021, 06:29:59 AM |
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I am not surprised if the crypto trading volume on Paypal has increased beyond expectations, because indeed many people began to be interested in investing in crypto since the price of Bitcoin rose above $ 20k. So not only Paypal some exchanges are also experiencing increased crypto trading volume, because more and more people want to make profit from crypto trading. And it could be with the achievement that is beyond expectations makes Paypal provide full service in the future. I'm really looking forward to all the merchants that Paypal cooperates with accepting cryptocurrency payments, if this becomes a reality then the increase in crypto prices will be even more unstoppable.
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Webetcoins
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February 07, 2021, 06:56:48 PM |
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In the fourth quarter, payment giant PayPal attracted 16 million new customers and processed payments worth $277 billion. According to CEO Dan Shulman, the company is actively investing in the cryptocurrency division, which more than met expectations.
PayPal's total revenue for the fourth quarter increased by 23% to $6.12 billion in the fourth quarter. The financial results were positively impacted by the support for cryptocurrencies, which appeared for PayPal customers in the United States on November 12.
The thing is that there were already lots of people who wanted to make use cryptocurrency, but they didn’t know how because proper information was not reaching them to be able to understand it (though I would still say that some of them are being reluctant). But seeing PayPal dive into the cryptocurrency field would have motivated a lot of people, and since they are already a well established company that has been around for years now, from 1998, lots of these people have decide to make it their go-to when they are buying cryptocurrency.
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JollyGood
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February 07, 2021, 08:51:27 PM |
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Paypal was a giant that outgrew its parent company eBay and had to be separated as a stand alone. With the hundreds of billions and potential trillions at stake in the crypto market cap it was only a matter of time before Paypal jumped in to crypto. The downside by using Paypal in the past was always the clawback or dispute system that allows the sender of money via Paypal to ask for it back - how this will affect Paypal-crypto transactions in future will have to be seen. In the fourth quarter, payment giant PayPal attracted 16 million new customers and processed payments worth $277 billion. According to CEO Dan Shulman, the company is actively investing in the cryptocurrency division, which more than met expectations. PayPal's total revenue for the fourth quarter increased by 23% to $6.12 billion in the fourth quarter. The financial results were positively impacted by the support for cryptocurrencies, which appeared for PayPal customers in the United States on November 12. PayPal's declares its uniqueness and therefore inevitably leads to profit, but whether this is really so in the end we will decide Now: Centralization reports on profit and decentralization shows a growing volume and on which side you will decide
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FlightyPouch
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February 07, 2021, 10:51:37 PM |
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It is true that Paypal might be bringing a lot of investors into the market but people should realize that Paypal owns the bitcoin they are "buying". As they've said, there is no decentralization in Paypal, and I think we can say that they might try to overrun the market with their volumes to manipulate the people and the market as well.
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Sithara007
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February 08, 2021, 04:02:49 AM |
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It is true that Paypal might be bringing a lot of investors into the market but people should realize that Paypal owns the bitcoin they are "buying". As they've said, there is no decentralization in Paypal, and I think we can say that they might try to overrun the market with their volumes to manipulate the people and the market as well.
It is the same case as holding your coins in an exchange. A lot of people do hold their cryptocurrency in various exchange wallets (where they don't have access to the private keys). Then why we should single out PayPal? After all, PayPal has been in operation for more than two decades and they are trusted all around the world. I would say that the risk of PayPal running away with your money is much lower than the risk with some of the cryptocurrency exchanges (especially those small-sized and medium-sized ones).
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RealMalatesta
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February 08, 2021, 08:20:44 AM |
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The intention was to use cryptocurrency as a tool to increase the userbase (i.e in order to gain new followers) and to venture in to one of the fields which has constantly shown very high growth rates. And I am glad that in the end it worked out well for them. And hopefully the other corporations would notice this and take steps to integrate Bitcoin to their own platforms.
Yeah, the move was more forced than adopted because paypal was observing the craze among customers regarding cryptocurrencies and them adopting bitcoin is more beneficial for them than it is for bitcoins. Bitcoins does benefit as we have more investors but overall paypal got the better off the decision. You can actually buy crypto from paypal now? is it only for US? because i am not from US and can't find it on my paypal account. So how does it work? you can buy, sell and withdraw it to your own wallet like exchange?
I am not sure because I stopped using paypal long time ago when a scammer tricked me by reversing a payment and paypal never even tried to help me despite I was the one who is being scammed. I believe the buying of bitcoin is only for USA users, you are right.
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Twinkledoe
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February 08, 2021, 08:29:48 AM |
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I still didnt get why people are buying crypto on paypal if you cant withdraw it from there
For newbie in crypto and PayPal user, this is their easiest way to get a hold of crypto. Because if you are a long time user, you will not use their platform as you can't get out your crypto from them. You can just buy and sell within PayPal. So they are just reaching mostly new crypto users, which is a lot as they have millions of users on their platform itself.
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bakasabo
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February 08, 2021, 08:39:19 AM |
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I still didnt get why people are buying crypto on paypal if you cant withdraw it from there
For newbie in crypto and PayPal user, this is their easiest way to get a hold of crypto. Because if you are a long time user, you will not use their platform as you can't get out your crypto from them. You can just buy and sell within PayPal. So they are just reaching mostly new crypto users, which is a lot as they have millions of users on their platform itself. Exchanges such as Binance or crypto.com are the easiest way to get crypto as far as I know. For a newbie, if he googles "buy crypto", these links still will be first on the list. Paypal first need to expand list of countries, who are able to buy bitcoin. So far only US Paypal users can by cryptocurrency. Also they need to make their "Bitcoin" as a real Bitcoin. Give users privatkeys and allow to trade Bitcoin not only within their platform. Btw, interesting to see the amount of new crypto Paypal users, that have registered on the platform only to trade Bitcoin.
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darewaller
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February 08, 2021, 06:24:14 PM |
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Exchanges such as Binance or crypto.com are the easiest way to get crypto as far as I know. For a newbie, if he googles "buy crypto", these links still will be first on the list.
Paypal first need to expand list of countries, who are able to buy bitcoin. So far only US Paypal users can by cryptocurrency. Also they need to make their "Bitcoin" as a real Bitcoin. Give users privatkeys and allow to trade Bitcoin not only within their platform. Btw, interesting to see the amount of new crypto Paypal users, that have registered on the platform only to trade Bitcoin.
I do not think that binance allows you to "buy bitcoin" in any form for most countries, sure they could be available in some nations but for many nations they are just an altcoin exchange where you buy and sell crypto between each other but there is no connection of binance with your bank account, hence it is not possible to buy bitcoin from binance. Secondly I think it is quite evident that we are not in a situation where paypal could be available for crypto in many nations, it could be tested and asked for but it is going to take some time. Why? Because people are not really checking how laws work, paypal does check that and takes that seriously. Moreover, if Paypal wants to open bitcoin purchases and so forth just like how they did in USA but for another country, there is a lot of paperwork they have to handle before they can start that, which means a lot of time back and forth between paypal and authorities.
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The Sceptical Chymist
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February 08, 2021, 08:01:22 PM |
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I meant to jump on this earnings call. I also wish they would have been more specific about how much they actually made, or how much business they actually did dealing with cryptocurrency directly.
Do they usually give out detailed info like that on earnings calls? I seriously have no idea since I never listen to them. But you still can't buy actual bitcoin through PayPal if I'm not mistaken, is that right? I thought they were going with some kind of Robinhood model, where you can buy bitcoin in name only but not have access to your private keys. Did PayPal end up buying a bunch of bitcoin? That would certainly help explain the price bump as of late, along with all the other institutional buying.
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FlightyPouch
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February 11, 2021, 12:08:48 PM |
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It is true that Paypal might be bringing a lot of investors into the market but people should realize that Paypal owns the bitcoin they are "buying". As they've said, there is no decentralization in Paypal, and I think we can say that they might try to overrun the market with their volumes to manipulate the people and the market as well.
It is the same case as holding your coins in an exchange. A lot of people do hold their cryptocurrency in various exchange wallets (where they don't have access to the private keys). Then why we should single out PayPal? After all, PayPal has been in operation for more than two decades and they are trusted all around the world. I would say that the risk of PayPal running away with your money is much lower than the risk with some of the cryptocurrency exchanges (especially those small-sized and medium-sized ones). Well, I am not leaving exchanges in this, it is just that most of the people that ask me about Paypal accepting Bitcoin seems a big of a deal to me and i is very annoying since they thought that since Paypal accepts buying bitcoin means it is all because of that platform. They are just new in the market and they don't have any idea about not having the private key just means that is not their bitcoin.
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baeva
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February 11, 2021, 12:29:30 PM |
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Don't get it wrong guys, but Paypal doesn't really care about Bitcoin. The only thing that matters is the profit it can bring to the company. They just noticed Bitcoin could be a good cash cow and there is a ton of money to make out of it. I didn't read the whole PDF but there is a need to make things separate. What comes from the addition of Bitcoin and what comes from the other part. Do you think the percentage increase is only due to the addition of Bitcoin? Not at all. Even the free cash flow decreased starting at Q2 2020, the same for the number of active accounts but not the number of payment transactions. What does it mean? It means there is the same number of people using Paypal but they are using it more frequently. Hence the profits' increase. But why? Because online shopping has increased drastically in the last year with covid and as Paypal is the most popular payment method people use, it makes sense. Amazon has also doubled its profits but they have not added Bitcoin. This only means to me that there's a great demand for decentralized transactions
For your information, there is no decentralization in Payal. People are simply buying a token backed by BTC, they don't own BTC, Paypal does thanks to this they can speculate easily and simply, that's all. Such a large company could easily influence the news background by announcing an investment in bitcoin or entering processing of a digital currency, which would significantly increase its value, and after that, as the price grows, sell its assets and make good money ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Novatech8
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Sovryn - Brings DeFi to Bitcoin
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February 11, 2021, 02:30:07 PM |
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I'm surprised, even after all the paypal freezing some crypto accounts many people are still using the platform to trade and cans out crypto? I wonder what will happen if mastercard takes crypto into it's platform, it will be so damn good, crypto is definitely going places
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Vishnu.Reang
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February 12, 2021, 05:39:49 AM |
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The intention was to use cryptocurrency as a tool to increase the userbase (i.e in order to gain new followers) and to venture in to one of the fields which has constantly shown very high growth rates. And I am glad that in the end it worked out well for them. And hopefully the other corporations would notice this and take steps to integrate Bitcoin to their own platforms.
Yeah, the move was more forced than adopted because paypal was observing the craze among customers regarding cryptocurrencies and them adopting bitcoin is more beneficial for them than it is for bitcoins. Bitcoins does benefit as we have more investors but overall paypal got the better off the decision. It is mutually beneficial. You can't say that the Bitcoin users didn't benefited from the move, because the exchange rates shot up immediately after the news was first published. The rally took exchange rates from $10,000 to $42,000. Some of it can be attributed to the supply crunch which was caused as a result of the block reward halving, but PayPal was the main driver. And I believe that once they add full functionality to the US users, such as the options to make payment with PayPal BTC and withdrawal of PayPal BTC to non-PayPal wallets, we will see a tremendous jump in adoption. So right now we have two factors that are working in favor of Bitcoin. The first one is adoption by PayPal (and others such as MasterCard taking steps towards their own adoption of BTC). The second one is the interest shown by corporations such as Tesla to use Bitcoin as a store of value.
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Daltonik (OP)
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February 12, 2021, 10:38:35 AM |
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PayPal will increase the integration of cryptocurrencies into its business, including positioning the supported app as a digital wallet for global national digital currencies such as CBDC. Such plans were shared by the company's CEO Dan Shulman at a conference with investors on February 11. PayPal's roadmap involves turning into a platform for CBDC. The head of the payment company believes that central banks can distribute the issued tokens among consumers through the company's wallets. During the conference, Shulman stressed that the next step of the company could be the use of smart contracts and tokenization.
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RealMalatesta
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February 13, 2021, 08:55:24 AM |
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It is mutually beneficial. You can't say that the Bitcoin users didn't benefited from the move, because the exchange rates shot up immediately after the news was first published. The rally took exchange rates from $10,000 to $42,000. Some of it can be attributed to the supply crunch which was caused as a result of the block reward halving, but PayPal was the main driver.
And I believe that once they add full functionality to the US users, such as the options to make payment with PayPal BTC and withdrawal of PayPal BTC to non-PayPal wallets, we will see a tremendous jump in adoption. So right now we have two factors that are working in favor of Bitcoin. The first one is adoption by PayPal (and others such as MasterCard taking steps towards their own adoption of BTC). The second one is the interest shown by corporations such as Tesla to use Bitcoin as a store of value.
Wait wait wait, you think paypal caused the price to move from 10k to 42k? First of all we moved from 10k to 20k range before the paypal news broke out, secondly we moved from 30k levels at the start of january to 47k+ the other day, do you think that was paypal too? You can't just name everything is thanks to paypal, sure it had a hyped help that pumped the price a bit but it was literally smaller than Elon Musk tweeting and Tesla buying bitcoin, so paypal was minor compared to those things. We went up before paypal and after paypal and we would have even without paypal for sure. In any case I have to say that paypal didn't hurt it of course, we did had some benefits, I just do not like the "way" they did it, but no matter how they did it, it was definitely beneficial for both sides, not a whole lot, not 10k to 42k but it did benefited a bit.
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Saisher
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February 14, 2021, 11:58:19 AM |
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They are lucky more than we are, they are raking in profit that was such a nice move moving and adopting Cryptocurrency at the right time, PayPal is now a role model of every big companies and institutions that they should adopt new technology and open to new changes because it will benefit them tremendously, just like what the stat is showing on PayPal volume.
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