Posted on 04/02/2021 9:51:56 AM PDT by aMorePerfectUnion
does you bit coin balance reflect the volatility in real time bit coin prices?
I buy stuff with the cash I get when I sell them. I don’t trade them directly. But I have “bought” things with BTC directly, including gold bullion.
I used to pay some of my monthly bills using bitcoin. Then I’d buy the coin back, usually at a slightly better price, so the millions of dollars pizza scenario wasn’t a problem.
Then I had a visa debit drawn on a Coinbase account. Still did the buy back on those purchases.
On calculating taxes, there are web services for that so it’s taken care of at the end of the year.
The balance in Paypal? Gosh, I hope so!
Otherwise, someone will be getting taken advantage of every day.
The key here is that Pay Pal has allowed people to build up significant value over the past couple of months. Now they will have to keep an eye on their balance.
It is a way to get people using their pay pal app EVERY day. And that is key to get and retain customers.
I am not saying its a scam, but it is what it is.
“After a certain period of time,” there won’t be a Fed...
Yep.
I transfer BTC, they handled conversion in their own currency … or perhaps kept the BTC.
none of those “millions” of merchants actually receive bitcoin from paypal: paypal merely converts crypto-payments received from the payers and remits U.S. currency to the payees ... headline should be “Paypal Pays Millions of Merchants with U.S. Dollars”
It is simply a pathway to keep money in bitcoin and pay with it.
Paypal wants in on the action.
does paypal let you transfer your current bitcoin to them ?
do you own your bitcoin if paypal holds it ?
“You buy Bitcoin on PayPal— but you can ONLY use it at PayPal. You cannot send it to your personal wallet.”
You are 100% correct.
I do not know the answer.
I am guessing based on comments that you can buy crypto AT paypal and then use it when you decide to to make purchases.
Perhaps someone else has more information?
it doesn’t really matter since I trust Paypal as much as I trust the current administration.
Paypal has been compared to RobinHood when it comes to how they will handle user cryptocurrency purchases. That is, you’ll “buy” crypto but not be able to move it off their site (that’s how RobinHood works). Which means you have to pray they are honest and not going to get hacked. And it makes your ownership of crypto something of a matter of faith and an abstraction.
Learning to use cryptocurrency isn’t that big of a deal, so I encourage folks to just do so directly and not through centralized services like Paypal or RH.
"The gains in bitcoin and altcoins has lifted total crypto market cap to within inches of $2 trillion ($1.94tn). The previous peak in January 2018 saw cryptos at $831 billion..."Bitcoin is now the 8th largest asset in the world (just behind silver's total capitalization and above Facebook) and Ethereum is the 45th largest asset (just above Coca-Cola and behind Netflix).
Yup, I already have a paypal business account tied to my bank account. I’ll just hodl onto the crypto I have. My $250 investment is $399.98 as of this morning. Not bad for a month.
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