PayPal cryptocurrency trading volume beyond expectations

[zanezane]

I also think that it is a positive impact for users in Paypal and therefore in bitcoin because as more people know how to make use of bitcoin and using the services that Paypal offers, it is a great success for her as a leader in the industry.
In this time of crisis it is necessary to unite all efforts so that the economy runs its course for the benefit of all.

Right, if we just don't accept that the company is doing initiative to have more users become curious with bitcoin then we won't go anywhere. I have my problems with PayPal but I love that they are going beyond in terms of crypto usage.

[iphone5s]

I also think that it is a positive impact for users in Paypal and therefore in bitcoin because as more people know how to make use of bitcoin and using the services that Paypal offers, it is a great success for her as a leader in the industry.
In this time of crisis it is necessary to unite all efforts so that the economy runs its course for the benefit of all.

Right, if we just don't accept that the company is doing initiative to have more users become curious with bitcoin then we won't go anywhere. I have my problems with PayPal but I love that they are going beyond in terms of crypto usage.

Is it possible that paypal is experiencing good things because the price of Bitcoin and other virtual currencies has increased in price? This could be one of the benefits of Bitcoin and other coins. But I hope it will last a long time or have a more surprising rise than this to see the benefits that can be felt in other things.

[FanEagle]

Centralization reports on profit and decentralization shows a growing volume and on which side you will decide

I am not seeing big differences between profit levels and volumes as both might get us the same things. So, getting into decentralization for privacy and freedom reasons will make sense to me. I am just wondering how wise paypal is on deciding a timely decisions to adopt cryptos into their business. Because, that must be the core reason why they have up surge in their revenue.

At the same time, I feel pathetic for the people who never gets time to think beyond paypal. It shows lots people still must need enlightenment on latest technological improvements. The bad part is paypal's cruel policies are not still a big concern for most people, it seems.

[Febo]

Do we know Paypal Bitcoin wallet or wallets? And how many Bitcoins is on them. If they will just show us numbers how much Bitcoin people bought on their platform is very silly. Bitcoin have transparent ledger so they can prof their holdings very easy. Bigger problem will be to prove how much Bitcoins their customers really have. And if those numbers match.

[Daltonik]

PayPal reported for the first quarter of 2021. According to the report, GAAP profit increased from $84 million to $1.1 billion, adjusted profit by 85%, from $786 million to $1.5 billion. Revenue increased by 31%, from $4.62 billion to $6.03 billion. The total volume of payments on PayPal in the first three months of the year increased by 50%, to $285 billion. The number of active users increased by 14.5 million to 392 million people https://s1.q4cdn.com/633035571/files/doc_financials/2021/q1/Q1-21-PayPal-Earnings-Release.pdf

[lixer]

Revenue increased by 31%, from $4.62 billion to $6.03 billion.

If it is all about net revenue then paypal must be doing great just because of adopting cryptocurrencies. They themselves declared about the performance as the strongest results in their history which might be alarming to others to think about incorporate cryptocurrencies at any possible manner so that they could enjoy good revenue by adding new set of customers for their business. Not sure how many of other market giants to start think about adding cryptos into their business model.

I just wonder why payapl did not add cryptos to their business last year but along with on going bull run. I mean if they have added last year itself then we might have started bull run earlier than usual which might have led to have bigger ATH than usual .

[MI6]

Revenue increased by 31%, from $4.62 billion to $6.03 billion.

If it is all about net revenue then paypal must be doing great just because of adopting cryptocurrencies. They themselves declared about the performance as the strongest results in their history which might be alarming to others to think about incorporate cryptocurrencies at any possible manner so that they could enjoy good revenue by adding new set of customers for their business. Not sure how many of other market giants to start think about adding cryptos into their business model.

I just wonder why payapl did not add cryptos to their business last year but along with on going bull run. I mean if they have added last year itself then we might have started bull run earlier than usual which might have led to have bigger ATH than usual .

Maybe because of today’s situation that they start seeing things as potential strong venture such as cryptocurrency. And not to mention that when everything was going down, crypto industry in standing still and going up.

[dezoel]

This shows nothing regarding crypto. The increase in paypals profits are not about the crypto acceptance, I believe it is fully about the fact that we are in a pandemic and that is the main reason, it doesn't mean that we should be doing anything that would shock the world, it just means that paypal has profited a lot from people staying at home and making purchases online instead of anywhere else. This is why it was not something I was baffled by.

If you think this is about crypto, you haven't paid attention to outside in the past 1 year, everyone is either dying or living with the risk of dying and that is just way too much risk and we shouldn't forget that when we are talking about online related business'. Look at Amazon, during a period when everyone was doing horrible, those guys managed to actually make an awful lot of profit all because they were capable of delivering during lockdowns.

[Daltonik]

According to the company's vice president Jose Fernandez da Ponte, PayPal will add the ability to withdraw cryptocurrencies to third-party wallets, the function of withdrawing digital assets is under development. He did not specify when exactly it will appear on the platform. https://www.coindesk.com/paypal-will-let-customers-withdraw-crypto-exec-says

^{"We want to give our customers a choice, something that allows them to pay in any way they prefer. They want to bring their cryptocurrency to us to use it for purchases, and we want them to be able to take the funds received through us and withdraw them to any place of their choice"}

[nightxglow]

According to the company's vice president Jose Fernandez da Ponte, PayPal will add the ability to withdraw cryptocurrencies to third-party wallets, the function of withdrawing digital assets is under development. He did not specify when exactly it will appear on the platform. https://www.coindesk.com/paypal-will-let-customers-withdraw-crypto-exec-says

^{"We want to give our customers a choice, something that allows them to pay in any way they prefer. They want to bring their cryptocurrency to us to use it for purchases, and we want them to be able to take the funds received through us and withdraw them to any place of their choice"}

Oh so we will have cryptocurrency as one of the method payment? or we can only withdraw and receive cryptocurrency and converting it into fiat? I'm not quite understand yet, however this is a good news. Paypal is well known, and a big platform, so of course this will be really beneficial for bitcoin, it can make people able to use bitcoin easily, since paypal is now helping us. I hope there will be more news regarding this soon, and we will know when it will appear on Paypal, can't wait!

[Sithara007]

Even now I could see a lot of negative comments against PayPal in this forum. People don't have an issue in storing their coins in an exchange wallet suddenly have a problem with using the cryptocurrency services provided by PayPal. Now with the added option of withdrawing the coins to a third party wallet, none of these arguments makes sense. I am not a big fan of PayPal. The last time I used their service was ten years ago. But still, I need to say that PayPal has made cryptocurrency more accessible to tens of millions of people.

[AicecreaME]

Paypal is one of those institutions that have adopted cryptocurrency because they have seen its potential and as an alternative mode of payment in transactions. Large volume of trading, buying, and selling is a great indicator that there are many people out there interested in what cryptocurrency has to offer. Maybe it paved a way for easy access to them, which explains why the volumetric rate of crypto users was beyond the expectation of the company and its old users.

I just hope Paypal is providing good service despite the surge of users on their platform. This trading volume surely gave and is still giving them a huge sum of money. I hope their aim on adopting crypto won't be just because of profit.

[int03h]

The trading volume on Paypal is pretty good and it's a really good place to support crypto. The demand for cryptocurrency is increasing so people will use Paypal to exchange crypto more. In this case, both Paypal and the crypto market benefit. People have difficulty in using a credit card, bank to buy cryptocurrency so Paypal is a better and more frequent choice.
I believe that in the future the cryptocurrency market will be welcomed around the world through financial companies, technology companies.

[mamahdedeh]

The trading volume on Paypal is pretty good and it's a really good place to support crypto. The demand for cryptocurrency is increasing so people will use Paypal to exchange crypto more. In this case, both Paypal and the crypto market benefit. People have difficulty in using a credit card, bank to buy cryptocurrency so Paypal is a better and more frequent choice.
I believe that in the future the cryptocurrency market will be welcomed around the world through financial companies, technology companies.

With this convenience, this will encourage PayPal to develop. we know that with the popularity of cryptocurrencies, it will increase the community, so the positive thing from paypal is to improve its services to provide access to cryptocurrencies

[Kittygalore]

The trading volume on Paypal is pretty good and it's a really good place to support crypto. The demand for cryptocurrency is increasing so people will use Paypal to exchange crypto more. In this case, both Paypal and the crypto market benefit. People have difficulty in using a credit card, bank to buy cryptocurrency so Paypal is a better and more frequent choice.
I believe that in the future the cryptocurrency market will be welcomed around the world through financial companies, technology companies.

It's good until your funds got locked out for no reason which is already happening for some users in PayPal so I don't think that it's best if we aren't fully happy with these news, I will still be cautious in using PayPal because not your key, not your coins right?

[int03h]

The trading volume on Paypal is pretty good and it's a really good place to support crypto. The demand for cryptocurrency is increasing so people will use Paypal to exchange crypto more. In this case, both Paypal and the crypto market benefit. People have difficulty in using a credit card, bank to buy cryptocurrency so Paypal is a better and more frequent choice.
I believe that in the future the cryptocurrency market will be welcomed around the world through financial companies, technology companies.

It's good until your funds got locked out for no reason which is already happening for some users in PayPal so I don't think that it's best if we aren't fully happy with these news, I will still be cautious in using PayPal because not your key, not your coins right?

It's like sending money to Binance for trading, your keys and crypto belong to Binance.
Just like Binance, Paypal has allowed people to withdraw money to their wallets. You think Paypal will take your money right? They won't do it because they have a reputation and a company value of hundreds of billions of dollars.

[Gatorelf]

PayPal made it extremely easy to buy and sell a few cryptos without having to open another account somewhere and go through all that series of proof of Identity headache. It literally takes seconds and their account holders were already using the platform for many transactions.

[Daltonik]

PayPal has announced an increase in the limit on the purchase of cryptocurrencies for US customers from the current $20,000 to $100,000 per week. PayPal has promised to support efforts to increase user awareness of digital assets.

[Daltonik]

Dan Shulman, CEO of Pay Pal, said that the company's specialists have completed work on the code base of the initial version of their own crypto wallet, which will be integrated into the super app. According to him, PayPal intends to fully deploy the service in the US in the next few months.

[Daltonik]

After PayPal's announcement about opening the possibility of buying, storing and selling cryptocurrency to customers from the UK, PayPal's trading volumes will increase even more. British PayPal users can make transactions with Bitcoin, Ethereum, Litecoin and Bitcoin Cash. They will also have access to educational content.