PayPal now allows crypto spending at millions of merchants

The Block Crypto ^ | March 30, 2021, 6:10AM EDT | Yogita Khatri

[aMorePerfectUnion]

PayPal has started allowing U.S. users to spend their cryptocurrency holdings at millions of online merchants globally.

The development means PayPal users who hold bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC) in PayPal digital wallets can now convert their crypto holdings into fiat to make purchases. Reuters first reported the news.

"This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet," PayPal CEO and president Dan Schulman told Reuters. "We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants."

PayPal first revealed the crypto spending feature last October. In the coming months, the company will expand the feature to non-U.S. users at its 29 million global merchants. PayPal will not charge any transaction fee to pay with crypto, and customers can only use one type of cryptocurrency for each purchase.

[aMorePerfectUnion]

People ask where they can spend Bitcoin or other crypto...

..........

If YOU would like to be on a CRYPTO PING LIST, please pm me.

The Crypto Ping List covers the following:

Bitcoin
Ethereum
Other coins built on the Ethereum blockchain
mining
etc.

Thanks! For it - or ag'in it, it'll be a wild ride.

[aMorePerfectUnion]

CRYPTO PING!

[Responsibility2nd]

I have to wonder just what percent of people with crypto currencies actually BUY anything with them?

I’m holding mine for investment purposes only.

[aMorePerfectUnion]

Agree 100%.

I paid a ~$50 bill once because I had to send it overseas...

Today the crypto would be the equivalent of $300 if I’d held.

I HODL

[aMorePerfectUnion]

The one exception... if necessary, I will comvert some or all overseas to buy gold.

[Tilted Irish Kilt]

Re: Cryptocurrency (Bitcoin, etc).

The Treasury Dept. and FBI Have Begun Raiding Homes And Crypto Businesses For Using Too Much Bitcoin.

[The feds are calling it “money laundering,” etc.]

https://www.youtube.com/watch?v=D6s30rHVvaQ&ab_channel=SilverReportUncut

[Tilted Irish Kilt]

If the Feds don't control it
after a certain period of time,
it will be declared, illegal or 'highly suspect'.

[Hang'emAll]

I have to wonder just what percent of people with crypto currencies actually BUY anything with them?

I’m holding mine for investment purposes only.

---

Exactly the volatility of Crypto on the downside decreases your total buying purchase ability and the purchases decrease the future investment potential of the original total investment in Crypto.

[EnderWiggin1970]

I’ve used mine on occasion - dozens of Amazon purchases at Purse.io, paying for online services (generally crypto-related like lending bots), paying for plumbing advise, paying for a hotel on Expedia.

I got a Crypto.com debit card about six months ago and I’m using it for virtually all purchases now. I can literally be in the checkout line when I convert crypto to top up the debit card balance and then pay for groceries. So the amount of inflating fiat dollars I have to hold is rapidly dwindling to near nothing.

[Responsibility2nd]

How’d you like that $613 Million Dollar Pizza?

https://www.businessinsider.com/bitcoin-surge-means-laszlo-hanyecz-paid-316-million-two-pizzas-2021-3

[aMorePerfectUnion]

Exactly!!

[thinden]

can you buy crypto at paypal?

or do you have to deposit your bit coin to a pay pal account?

[Vermont Lt]

“They” keep wanting retail use of cryptos to be a thing.

I already have “digital” dollars in the form of a debit card. The last thing I want to do is calculate a capital gains tax every time I buy gas or groceries.

Every tool in the box has a different, specific use. You should not use a screw driver as a wrench.

[Vermont Lt]

I’m bullion allows that today. It is cheaper to convert it to dollars and buy it that way.

[Vermont Lt]

It’s actually the opposite. You buy Bitcoin on PayPal— but you can ONLY use it at PayPal. You cannot send it to your personal wallet.

It might convenient...but you don’t have the keys to the Bitcoin...you don’t own it.

[Vermont Lt]

J M Bullion. Not I am. Sorry about that.

[aMorePerfectUnion]

I’m not sure what you mean??

[aMorePerfectUnion]

I do not know…

[aMorePerfectUnion]

I see.

In my case, I’d purchase bullion overseas and pay with crypto…

[Vermont Lt]

There was a typo. I meant JM Bullion.com.

But at the transfer prices and conversion price, it is cheaper to convert BTC to $, pay the cap gain taxes, and then buy Gold/Silver.

But if you are buying overseas....I’ve never done that.