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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

#231

Post by em500 »

majkinetor wrote: post #208
glitchc wrote: post #205

Earlier quoted context omitted.

Is it a Visa or Mastercard then?

https://www.bybit.com/en/cards You are welcome.

So it is indeed a Mastercard, plus some extra fees:

  What are the fees associated with using the Bybit Card?

  Here's a breakdown of the fees:

  – Foreign Exchange Fee: 1% (on top of Mastercard's exchange rate)

  – Crypto Conversion Fee: 0.9% (on top of Spot trading fees)

  – Annual Fee: None

  – Dormancy/Inactivity Fee: None

  – Card Cancellation Fee: None

  – Card Issuance/Replacement Fee: None for Bybit Virtual Card; 5 USD/USDT for Bybit Physical Card

  – ATM Withdrawal Fee: 2% (applies after reaching the monthly free ATM withdrawal limit of 100 USD)

Re: PayPal to support Ethereum and Bitcoin

#232

Post by majkinetor »

em500 wrote: post #231
majkinetor wrote: post #208

Earlier quoted context omitted.

https://www.bybit.com/en/cards You are welcome.

So it is indeed a Mastercard, plus some extra fees: What are the fees associated with using the Bybit Card? Here's a breakdown of the fees: – Foreign Exchange Fee: 1% (on top of Mastercard's exchange rate) – Crypto Conversion Fee: 0.9% (on top of Spot trading fees) – Annual Fee: None – Dormancy/Inactivity Fee: None – Card Cancellation Fee: None – Card Issuance/Replacement Fee: None for Bybit Virtual Card; 5 USD/USDT…

The fees are more than acceptable for the service.

Re: PayPal to support Ethereum and Bitcoin

#233

Post by lucb1e »

majkinetor wrote: post #225
lucb1e wrote: post #219

Earlier quoted context omitted.

Fwiw you won't find a supermarket in this country that accepts buying things on credit, much less a local candy store. If that worked for you, it's very specific to wherever you live

I used it in Serbia, Italy, Portugal, Spain, Greece, Montenegro, Austria... not sure what kind of country you're talking about :)

Huh, okay, I didn't know buying things constantly on credit was common in Europe. Certainly not around Netherlands/Germany (so Austria seems odd, they generally share a culture). The only one of these countries I've been to is Italy but I was young enough that it was probably all cash then

Re: PayPal to support Ethereum and Bitcoin

#234

Post by delusional »

em3rgent0rdr wrote: post #224
joahnn_s wrote: post #215

The whole purpose of crypto is to exchange money online like we exchange cash in person, so who wants PayPal as a middleman on a tech designed not to have a middleman? Who will use that

PayPal 20 years ago made it easy to engage in internet commerce across various world currencies. And now users of PayPal have an easy way to commerce with two more world currencies using a familiar trusted interface. Another way PayPal as the middle man helps: "Unclaimed links expire after 10 days", which sounds like it avoids the problem of accidentally sending bitcoin into the void.

I completely understand why I would want paypal as an intermediary in the unlikely case I wanted to send bitcoin to somebody. I think what makes less sense to me is why people who actually like crypto would want paypal.

I want a regulated middleman answerable to democratic legislation. Crypto people (largely) don't.

I guess this is mostly a play that crypto people won't actually care if there's a middleman if it creates some liquidity. That just seems like giving up to me.

Re: PayPal to support Ethereum and Bitcoin

#237

Post by Karrot_Kream »

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…

> They are not a bank, they do not abide by banking regulations.

In the US, this is true with some important caveats.

"If you have opened a PayPal Debit Card Mastercard® account, enrolled in Direct Deposit, or bought or received cryptocurrency with your personal PayPal Balance account, we will place your U.S. dollar PayPal Balance funds at one or more Program Banks. Any other balance funds and all cryptocurrencies are not held in FDIC insured bank deposits. Cryptocurrencies may lose value." [1]

[1]: https://www.paypal.com/us/legalhub/paypal/program-banks-tnc

Re: PayPal to support Ethereum and Bitcoin

#238

Post by majkinetor »

lucb1e wrote: post #233
majkinetor wrote: post #225

Earlier quoted context omitted.

I used it in Serbia, Italy, Portugal, Spain, Greece, Montenegro, Austria... not sure what kind of country you're talking about :)

Huh, okay, I didn't know buying things constantly on credit was common in Europe. Certainly not around Netherlands/Germany (so Austria seems odd, they generally share a culture). The only one of these countries I've been to is Italy but I was young enough that it was probably all cash then

It's a debit card.

Not sure what you mean. Nobody buys anything with cache anymore. I keep some cache in my car for bazaar and similar stuff, but all but few stores accept cards everywhere in EU I go. The convenience of having all your cards on a phone is unparalleled.

Re: PayPal to support Ethereum and Bitcoin

#239

Post by tootie »

majkinetor wrote: post #228
tootie wrote: post #197

Earlier quoted context omitted.

Stocks convey equity, pay dividends, must do quarterly disclosures, must disclose insider trading activity and, most importantly, are never used for payments. The topic is payments, not investments.

Yeah, right, on paper. Let's pretend that insider trading activity is disclosed and that Nancy is just born talented

Trades made by actual insiders are disclosed. That's a narrower definition than what qualifies at illegal insider trading (or an insider sharing inside information with an outsider). That's also not likely to be what is happening with members on Congress who may be trading on nonpublic information that isn't legally insider information.

Re: PayPal to support Ethereum and Bitcoin

#240

Post by lucb1e »

johnwheeler wrote: post #44

I don’t understand all the immediate negativity surrounding this. Can someone in the know explain what the ramifications are?

What's not to understand? If you have a specific question about the 'immediate negativity', perhaps comment on one of the puzzling comments to ask for clarification

For a general background, searching for 'paypal' reveals a thing or two: https://hn.algolia.com/?q=paypal

> - Thinking of Selling on eBay using Paypal? Think Again

> - “We found PayPal vulnerabilities and PayPal punished us for it”

> - We got banned from PayPal after 12 years of business

> - PayPal stops payouts to models on Pornhub

> - More Paypal nonsense

That's five of the top eight results. The last one pretty much sums up the sentiment of the whole page

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