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PayPal to support Ethereum and Bitcoin

newsroom.paypal-corp.com

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251–260 of 409 posts

Re: PayPal to support Ethereum and Bitcoin

#251

Post by XorNot »

codyb wrote: post #154
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

A long time ago someone bought a pizza. Most large company entries into the crypto space seem to fizzle out and disappear due to lack of use, and how annoying it is to deal with currencies which fluctuate in value between the time you've spent them and the time the transaction is approved (I understand there are lightning networks), and then there's the issue with maintaining wallets. It really just adds nothing but…

Given that I basically never use PayPal anymore I'm thinking this might be a desperate attempt to find any new market to grow in.

There's plenty of alternatives these days so now I just use the direct credit card option on most sites.

Re: PayPal to support Ethereum and Bitcoin

#252

Post by skybrian »

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

I imagine that most people who use cryptocurrency for payment at all will still need to convert it to something else sometimes. Attempting to use it for everything would be pretty hardcore.

Re: PayPal to support Ethereum and Bitcoin

#253

Post by masfuerte »

Animats wrote: post #178
margalabargala wrote: post #144

Earlier quoted context omitted.

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.

With PayPal in the UK you can do an instant transfer for free or pay extra for a two-day transfer. I don't know why the option is still there or why anyone would choose it.

Re: PayPal to support Ethereum and Bitcoin

#254

Post by lucb1e »

majkinetor wrote: post #238
lucb1e wrote: post #233

Earlier quoted context omitted.

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.

Ooh! Somehow I thought you meant credit card. No, indeed, normal cards are normal cards. Misunderstanding is entirely on my side

Re: PayPal to support Ethereum and Bitcoin

#255

Post by Karrot_Kream »

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

Coinbase and Venmo offer debit cards that you can fund with crypto. Coinbase offers to auto-sell crypto assets you choose to fund it. That means you can hold money in crypto and sell it off when you want to buy something. Be cognizant of taxes, but if you're willing to hold your crypto for a year then LTCG kicks in and you're getting taxed at pretty reasonable rates.

Investment accounts on the other hand take a while for sales to settle before your funds are available as cash.

Re: PayPal to support Ethereum and Bitcoin

#256

Post by mitkebes »

esskay wrote: post #184

I'm both surprised they didn't already, and am more surprised people are still willing to even use PayPal at this point.

Paypal is good as a consumer. You can buy stuff without giving random sites your card details, and paypal is willing to refund purchases if you have a legitimate issue and the seller refuses to cooperate with you.

My wife placed a large clothing order some months back, but the package got ripped in transit and we only received about a quarter of it. The seller company refused a refund because the tracking data said "delivered", even though I was able to get confirmation from USPS that the package weight in transit lost most of it's weight between two shipping centers. The fact that we placed the order through paypal ended up saving us, we were able to bring them in as a mediator and they got us a refund.

Re: PayPal to support Ethereum and Bitcoin

#257

Post by tgsovlerkhgsel »

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?

SEPA Direct Debit (the standard way to debit accounts within the SEPA, i.e. roughly "Europe/Eurozone") gives you 8 weeks to revert a debit that you disagree with. Whether a bank exposes this in the UI or not depends on the bank.

Re: PayPal to support Ethereum and Bitcoin

#258

Post by 127 »

delusional wrote: post #234
em3rgent0rdr wrote: post #224

Earlier quoted context omitted.

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 crea…

Is your legislation answerable to democracy? Citizens having some power in that case from outside the system could be very useful.

Re: PayPal to support Ethereum and Bitcoin

#259

Post by tgsovlerkhgsel »

lucb1e wrote: post #213
unixhero wrote: post #200

Earlier quoted context omitted.

In the real world, not in computer user world, people use what is avilable to them that works. Paypal is that.

Only when it's the literal only option at checkout. Then it's the merchant's choice, not my problem. When possible, I'll always opt to use a different instantaneous method (e.g. iDeal or direct debit), or give the merchant my money directly and wait 3 days for the IBAN transfer to go through. Using paypal just risks the money being indefinitely frozen on either side and them taking a cut for the privilege, if it work…

If the merchant screws you on a transaction paid via IBAN transfer, how do you get your money back?

Re: PayPal to support Ethereum and Bitcoin

#260

Post by hamstercat »

mitkebes wrote: post #256
esskay wrote: post #184

I'm both surprised they didn't already, and am more surprised people are still willing to even use PayPal at this point.

Paypal is good as a consumer. You can buy stuff without giving random sites your card details, and paypal is willing to refund purchases if you have a legitimate issue and the seller refuses to cooperate with you. My wife placed a large clothing order some months back, but the package got ripped in transit and we only received about a quarter of it. The seller company refused a refund because the tracking data said "…

Credit cards do the same, no? You can initiate a chargeback.
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