Cash is king for me.
Yes, I switched my bank account to a Cash Management account (Fidelity) and get ATM fees and international fees reimbursed, this has renewed my cash usage and eliminated my card usage. I love it!
PayPal to support Ethereum and Bitcoin
121–130 of 409 posts
Re: PayPal to support Ethereum and Bitcoin
#122Holding money (or crypto) in PayPal is a terrible idea. They are not a bank, they do not abide by banking regulations. They can lock you out of your account and your money at any time and leave you going in circles with their offshore support. Yes, they are somewhat of a necessary evil if you do any online peer-to-peer buying/selling, since they are the only money transfer service that provides some level of "buyer p…
In europe, Paypal Sarl is a bank subject to bank regulations
But they don’t offer deposit guarantee. Banks usually have to in the EU
Re: PayPal to support Ethereum and Bitcoin
#123What is this paypal-corp.com website? I immediately suspected phishing when I saw that. Doubly so when the feature being discussed is crypto related.
Add the end of https://www.paypal.com/us/home there is a Hewsroom link to https://newsroom.paypal-corp.com/ . They use https://about.pypl.com/about-us/default.aspx as well. At one point, employee email accounts used paypal-inc.com. It might not even be a SEO thing, it could just reflect their corporate structure and the different IT teams. I agree that it is confusing.
[deleted]
Re: PayPal to support Ethereum and Bitcoin
#124I don’t understand all the immediate negativity surrounding this. Can someone in the know explain what the ramifications are?
People who hate crypto will hate anything that has anything to do with crypto. People who love crypto will hate anything that has anything to do with legacy censorship-prone fraudulent financial institutions like PayPal. Who is this for?
People that like convenience and pretending that they love crypto. Which is much larger than these partisan takes.
Re: PayPal to support Ethereum and Bitcoin
#125Earlier quoted context omitted.
It isn’t subject to the EU statutory deposit insurance, however. Edit: The above means that deposits on your PayPal account aren’t insured, different from regular bank accounts in the EU. This is a frequently emphasized caveat regarding the use of PayPal as a bank account in the EU.
Is that an issue if you don't plan to "store" money in PayPal but only use it for payments?
The question is if a EU bank has to provide deposit insurance but PayPal does not how can PayPal be a bank.
Re: PayPal to support Ethereum and Bitcoin
#126one thing with these stablecoins is they're pushing to buying of 'us-debt'. congrats if you buy a stablecoin - you've effectively financed the US gvt at 0%. now the US gvt can inflate away that debt at 0 cost to them, and pass on the cost to you. that's why a bunch of these stablecoin companies are pushing it as a way to save for people in distressed economies. what a way to steal from the poor. that's why the crypto…
It’s actually more of a win-win situation if you look closely. Stablecoin issuers earn yield from holding U.S. Treasuries, which sustains their business model. Meanwhile, people in distressed economies get practical access to a digital dollar, often cheaper and faster than navigating restrictive exchange rules or paying steep conversion fees at money-changers. That’s meaningful when local currencies are unstable or l…
The foreign individual is likely better off in game theory terms, but their country is collectively likely worse off due to a reduction in their central bank's independence and ability to perform seigniorage/print money. Difficult to ban for the foreign nation, and probably results in a greater need for dollars for their government also.
Re: PayPal to support Ethereum and Bitcoin
#127What is this paypal-corp.com website? I immediately suspected phishing when I saw that. Doubly so when the feature being discussed is crypto related.
Fraudulent by design.
(also thought that it's phishing or scam domain).
Re: PayPal to support Ethereum and Bitcoin
#128Yeah bro Im not sending crypto through paypal so I get charged like 5%+ on too of withdrawal fee by my bank of like 10% extra...
Re: PayPal to support Ethereum and Bitcoin
#129zero reason to use this instead of something like sling.money
you wallet is self custodial there
Re: PayPal to support Ethereum and Bitcoin
#130Earlier quoted context omitted.
Times are changing: > The GENIUS Act requires permitted payment stablecoin issuers to maintain reserves backing outstanding payment stablecoins on at least a one-to-one basis, and provides that reserves may only consist of certain specified assets, including US dollars, federal reserve notes, funds held at certain insured or regulated depository institutions, certain short-term Treasuries and Treasury-backed reverse…
With regard to Tether none of this is applicable as they aren't compliant with the GENIUS Act. They are in fact attempting to launch a totally separate stablecoin to try to get some of that market: https://www.reuters.com/sustainability/boards-policy-regulat...
Right, and who is looking at it anyways? Let's not kid ourselves, noone at the SEC will be enforcing "genius" act. Does anyone realistically think otherwise?