81–90 of 409 posts
Earlier quoted context omitted.
It's a reason not to use dollars in any form if you are outside of US (and probably inside as well).
Usually the local money is even worst. (Hi from Argentina! Not so bad this year so far...)
sure, it couldn't happen without the local warlords, but still...
You can be sure that the “anyone, anywhere” claimed is a lie.
Of course it will be as far from "anyone" or "anywhere" as possible, because they will start the crypto expansion in a much more restrictive fashion than TradFi.
One of the reasons I don't think crypto can succeed is because people will only use it if it's convenient, which very likely means corporate involvement, which of course ultimately defeats the whole argument of being decentralized.
Earlier quoted context omitted.
In europe, Paypal Sarl is a bank subject to bank regulations
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.
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 only accepting applications from a select group of people living in select EU countries.
I have had discussion with their CEO right there regarding this marketingspeak but he did not seem to grasp what's the problem at all here.
You can't make this shit up.
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…
I switched to a hardly used checking account for paypal after they held $20 hostage for a couple months after selling an old video card on ebay. I'd heard some one say their bank account had become frozen by paypal during a dispute and that event reminded me of it enough to get some separation.
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…
Earlier 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?
My point is that one doesn’t get all the protections normally taken for granted for EU bank accounts.
Earlier quoted context omitted.
Not anymore than a USD deposit account. Just with extra steps.
> Not anymore than a USD deposit account These typically pay interest. (Or have retail servicing costs attached.)
[1] https://www.chase.com/personal/savings/interest-savings/inte...
[2] https://www.bankofamerica.com/deposits/savings/savings-accou...