Nissan
Member
PayPal has joined the cryptocurrency market allowing customers to buy, sell and hold bitcoin and other virtual coins using the company's online wallets.
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PayPal joins the cryptocurrency market
- Thread starter Nissan
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Nissan
Member
U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks. The company plans to expand to Venmo and some countries in the first half of 2021.
Buying crypto with your paypal account? The horror!!!
MisterSuperGod
New Member
The convenience would be great, but if they close accounts for suspected hooliganism like Coinbase does, that would suck. i use PP for most of the (legal) things i buy online.
Yep same here.
I would certainly send any coin I buy thru PP to an external wallet before I use it for anything else just to be safe just as with CashApp or Coinbase.
MisterSuperGod
New Member
Agreed. i think it should be treated like any other exchange in that regard.
little
Member
I’ve always just printed my bitcoins out and mailed them to my super suppliers. All my packs get seized though from what my supplier tells me.
MisterSuperGod
New Member
Went live today. i have the option to buy it through the app now. i'll dabble a little later when time permits.
There's more than just BTC to buy too.
BCH, ETH and LTC are available.
There's more than just BTC to buy too.
BCH, ETH and LTC are available.
MisterSuperGod
New Member
Hold the phone, Mabel. This is taken from their FAQ.
Can I transfer crypto into and out of PayPal?
Currently, you can only hold the crypto that you buy on PayPal in your account. Additionally, the crypto in your account cannot be transferred to other accounts on or off PayPal.
It appears it's strictly for investment purposes at this point. Lame!
Can I transfer crypto into and out of PayPal?
Currently, you can only hold the crypto that you buy on PayPal in your account. Additionally, the crypto in your account cannot be transferred to other accounts on or off PayPal.
It appears it's strictly for investment purposes at this point. Lame!
Jack Spade
Member
What’s this regarding Coinbase ??
MisterSuperGod
New Member
There's been a lot of complaints regarding CB here that i haven't seen with other exchanges.
Account termination and holding transactions for varying lengths of time was enough for me to 86 the app and look for alternatives.
Jack Spade
Member
Ugh yea have had the hold issues myself but having account canceled means they or another agency is monitoring where / who you send too..
No bueno
So there's a good reason to stay far away from crypto on Paypal.
MisterSuperGod
New Member
For now, unless you're an investor. It's only day 1 for them in the crypto biz, so they may flesh out the service over time, we'll just have to wait and see.
Yep, if you bought coin thru CB and then send it to your favorite external wallet (Blockchain, Coinmama, etc) and then from that wallet paying your favorite source for your gear purchase very well will get your CB account shitcanned. So that's enough for me to stay clear of CB...and even Paypal should they eventually allow crypto transfers into and out of your PP wallet.
In addition there are reports that CashApp has started closing accounts of people who send coin to an address that's flagged, which means there's a 3rd party monitoring service involved most likely.
I believe paypal is owned by google. So basically these are bitcoin accounts that the US government will have easy access to. And they will probably monitor all hops after purchase if they end up allowing customers to transfer it to other wallets. Fuck all that.
MisterSuperGod
New Member
Established in 1998 as Confinity, PayPal had its initial public offering in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion. eBay spun off PayPal in 2015 to eBay's shareholders.
No doubt Paypal will do the same thing as CB and losing your paypal account because of that will be quite a shocker. I use my PP account for legal purchases as well so losing it to some BS crypto transfer will suck for sure.
Paypal is not owned by google, but by ebay's shareholders...as MSG posted above.
Paypal is a publicly traded company. The largest single holder of stock is The Vanguard Group followed closely by Blackrock. It was previously held by Ebay but the split it off as a separate company rather than face regulatory issues.
PayPal Holdings, Inc. (PYPL) Stock Major Holders - Yahoo Finance
PayPal Holdings, Inc. (PYPL) Stock Major Holders - Yahoo Finance
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