FYI
I get scammed every time I use PayPal!
Had 2 unauthorized charges many years ago and then just recently used them to buy a religious book from the publisher, and was soon greeted with a phony Amazon purchase claim.
Mainstreaming is happening
In this thread: people blaming PayPal for lousy, sketchy vendors online.
Anyway, this is a good step towards adoption. PayPal needed to first establish a reserve of crypto in order to make transfers immediate, rather than waiting for confirmations. This morning it took 13 minutes for a transaction to be confirmed.
“to be seamlessly converted into U.S. dollars or other fiat currencies”
Nice, I can convert one currency backed by nothing into other currencies backed by nothing!
Good money drives out bad money...
The whole point of crypto is that it’s peer to peer. If Paypal is still going to get involved as a middle-man, what’s the point in using crypto? Might as well just stick with cash for a Paypal purchase. If you’re buying crypto to hold as an investment, you might as well buy the crypto off an exchange or from a broker. Probably cheaper.