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PayPal to support Ethereum and Bitcoin

newsroom.paypal-corp.com

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Re: PayPal to support Ethereum and Bitcoin

#171

Post by jrmski »

jdadj wrote: post #116
praptak wrote: post #103

Earlier quoted context omitted.

Fortunately I can review direct debit consents and revoke them via my bank's web app UI.

I've seen such features on business accounts (Wells Fargo ACH Fraud Filter, JPMorgan ACH Debit Block, etc). What bank allows that on a consumer account?

Mercury's personal banking product allows you to reject ACH transactions before they clear. They also allow you to generate virtual account numbers, so you can easily cut off an entity without having to change your main account number. Unfortunately Mercury charges a monthly fee.

Re: PayPal to support Ethereum and Bitcoin

#172

Post by mortoc »

unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

The only use-case I've heard for cryptocurrencies that doesn't just sound like a get-rich-quick-speculative-betting-scam is providing financial services to the un-banked.

Re: PayPal to support Ethereum and Bitcoin

#173

Post by FabHK »

xyst wrote: post #137
Tarball10 wrote: post #20

Holding 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…

What’s odd is that Germans LOVE using PayPal. The pseudo banking system that PayPal offers is apparently light years ahead of traditional banking in Deutscheland.

The banking system is fine. It’s just that credit card use is not very widespread in Germany. PayPal (linked to bank accounts) is then fairly convenient online.

Re: PayPal to support Ethereum and Bitcoin

#174

Post by tmtvl »

unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

I bought a Go board and some stones from GoGameGuru back in the day. A bitcoin was only 200-ish Euros back then. Funny to think how much that's gone up.

Re: PayPal to support Ethereum and Bitcoin

#175

Post by emtel »

unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

Stablecoin payments are currently a hugely growing business, mainly for B2B payments as I understand it. I think its really hard for people who have absorbed 10 years of anti-crypto groupthink from HN to digest the fact that crypto is here to stay and is finding legitimate use cases.

Stablecoin payments really are just better: - Instant settlement - Extremely cheap - Extremely reliable - Highly programmable - Built on open protocols - International

There are no traditional banking systems that offer all of these properties!

If anyone is tempted to reply with "okay but that could have been done with a database" I would really encourage that person to try to think hard about why that didn't happen.

Re: PayPal to support Ethereum and Bitcoin

#176

Post by majkinetor »

unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

I have a virtual crypto card and gave it to my daughter and she added it to the Google wallet on her android. She uses it anywhere to buy anything. My bank didn't want to open bank account to minor. Everything was set up in 10 minutes. I transfer to her some random coins and it just works.

I also use it myself as a backup abroad when my regular bank foreign account doesn't work for any reason.

I got the card in the middle of the night in 10 minutes.

I think all that is simply awesome.

Re: PayPal to support Ethereum and Bitcoin

#177

Post by egorfine »

DennisP wrote: post #98
egorfine wrote: post #86

Title: PayPal [..] Reimagining How Money Moves to Anyone, Anywhere. Text: PayPal users in the U.S. can begin [..] today, with international expansion [..] starting later this month. So immediately out of the box it is exactly NOT for "anyone" and NOT "anywhere". This is contagious: a couple of years ago Gnosis tried to launch their Gnosis Card[1] on Berlin DappCon with the exact same slogan: "Anyone, anywhere" while…

Well in fairness they really have reimagined how money moves to anyone anywhere, they just haven't changed it yet. Plus they used a verb tense suggesting the process is ongoing. If they said "we changed how money moves to anyone anywhere" then that would be inaccurate, but that's not what they said.

It is almost like there were two departments in play. One that did reimagine how the global crypto money works, and the other who cannot image transacting without a recent utility bill. And they met in the press release.

Re: PayPal to support Ethereum and Bitcoin

#178

Post by Animats »

margalabargala wrote: post #144
Animats wrote: post #113

Earlier quoted context omitted.

> Link one bank account (not your primary) to PayPal to receive money, and transfer received money immediately. Costs 1.5%. Or wait a few days.[1] Plus a fee for receiving cryptocurrency. There are additional fees for buying cryptocurrencies, other than PayPal's own. And none of this is FDIC insured. [1] https://www.paypal.com/us/legalhub/paypal/pp-balance-tnc?loc...

I think they meant, initiate the transfer immediately. There's no need to pay for the "fast" transfer vs standard ACH.

Does PayPal support FedNow? Bank-to-bank transfers in under 10 seconds, for $0.045 each? Nah.

Re: PayPal to support Ethereum and Bitcoin

#179

Post by umpalumpaaa »

emtel wrote: post #175
unleaded wrote: post #152

real question because i don't know, what do people actually buy with crypto other than other money or illegal stuff? i presume paypal won't be happy with you buying/selling drugs with it

Stablecoin payments are currently a hugely growing business, mainly for B2B payments as I understand it. I think its really hard for people who have absorbed 10 years of anti-crypto groupthink from HN to digest the fact that crypto is here to stay and is finding legitimate use cases. Stablecoin payments really are just better: - Instant settlement - Extremely cheap - Extremely reliable - Highly programmable - Built o…

I once had to go through a SWIFT certification and it was a nightmare… They make you jump through so many rings… They make you buy hardware from them (for their certification runs), their documentation is awful. Their test environment is awful (no logs, no clear error messages, etc). Sadest time of my life.
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