It's happening: Paypal finally adopted crypto.

[DennisChannels 238]

It was an open secret, rumors and early news on July (as it can be seen in this Cointelegraph entry or this other entry from micky) created lots of hype and boosted up BTC to the 11K. Now, several months after, we have a definitive confirmation: https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idINL1N2HB14U

As it can be read, Paypal plans to fully implement the possibility of shopping with cryptocurrency in the first quarter of 2021. This adoption will allow people to purchase items and services from more than 26 million merchants. The definitive news BTC needed to sky rocketing to the stars.

And, of course, as you can see on the chart, the pump (over $12.300!!!) confirms the excellent news.

 

Congratulations, everyone! (unless you are investing mostly on alts, in that case, I'm really sorry).

Edited October 21, 2020 by DennisChannels
Added paypal logo

[rekter 8129]

Well it took long enough to get them publish this. I am starting to think that this was the last push BTC needed for next big bullrun, because after it starts moving, it will be a colossal move.

[Froshk 1828]

We have always seen these coming, PayPal is a very great platform and adopting the new wave digital currencies is just going to make them even greater plus these will bridge the gap between crypo currency and the fiat currency 

[DennisChannels 238]

6 hours ago, rekter said:

Well it took long enough to get them publish this. I am starting to think that this was the last push BTC needed for next big bullrun, because after it starts moving, it will be a colossal move.

Exactly, everything pointed to this very moment. At least everyone said that before the end of 2020, we would replicate (and even improve) the 2017 bull run scenario. With the pandemic situation, economic and geopolitical moves delayed it, but also made it stronger. I'm almost 100% we already entered bull run. 

5 hours ago, Froshk said:

We have always seen these coming, PayPal is a very great platform and adopting the new wave digital currencies is just going to make them even greater plus these will bridge the gap between crypo currency and the fiat currency 

Absolutely! PayPal was a revolutionary concept back in time. I'm sure they are making the correct moves, totally coherent with their business and evolving its own concept. It's the most suitable platform for that bridge, even if others like Uphold (where I connected my Brave to get BAT) already started that path.

 

We can say now that, suddenly, millions of people have an official crypto wallet 😄 even those who never were interested about crypto!

[Ridam 7455]

@DennisChannels In past days PayPal had very bad response to Crypto. The whole thing has changed and I was aware about it before as they were hiring Blockchain Engineers some time back.

With such massive number of PayPal users all around the globe Crypto will get huge privilege from the support of Crypto in PayPal. We have already seen massive increase in Coinbase volume and in btc price crossing 13k. I think bull run is on its way.

[Gabriels100 157]

This is true, I also read about this news which surprised and pleased me, something quite good was done to me since this is growing at a very fast rate and this is very good for the development of the crypto world and the value of Bitcoin

[George10 9932]

11 hours ago, rekter said:

Well it took long enough to get them publish this. I am starting to think that this was the last push BTC needed for next big bullrun, because after it starts moving, it will be a colossal move.

This is great news to finally witness paypal adopting bitcoin and indeed it will help bitcoin price to sail higher as many users of PayPal begins to take this advantage and deal with crypto right in their PayPal accounts and I gues many were buying thus causing BTC to hit $13000 yesternight and this has put bitcoin in a good bull run move that will benefit many holders as they will cash out in profits.

And I believe more pumps are still ahead as the news is yet to hit many.

[rekter 8129]

8 minutes ago, George10 said:

... as they will cash out in profits....

 

I've seen people getting out too and it has baffled me. Either these people had high leveraged positions or they haven't taken a look how good the chart looks like now.

 

[George10 9932]

17 minutes ago, rekter said:

I've seen people getting out too and it has baffled me. Either these people had high leveraged positions or they haven't taken a look how good the chart looks like now.

 

Looking at the charts it is still signalling a bull market if what happens to the price in previous movements is to repeat itself therefore, we shouldn't be worried about those cashing out and I believe these are investors or holders with less holdings and i assume big whales are still hoping for more pumps before they can cash out massively.

[Cryptomint 433]

Not even this many more will accept the cryptocurrencies and soon we will see the cryptocurrencies everywhere and they will take over tye world.

[kyoukage01 3181]

On 10/21/2020 at 11:00 PM, DennisChannels said:

(unless you are investing mostly on alts, in that case, I'm really sorry)

Paypal can venture into dealing with other altcoins once the crypto coins on their list becomes well-established.

Quote

"PayPal, which has secured the first conditional cryptocurrency license from the New York State Department of Financial Services, will initially allow purchases of bitcoin and other cryptocurrencies called ethereum, bitcoin cash and litecoin, it said. It partners with Paxos Trust Company to offer the service."

source: https://www.reuters.com/article/paypal-cryptocurrency/paypal-to-allow-cryptocurrency-buying-selling-and-shopping-on-its-network-idINL1N2HB14U

For now, exchanging other altcoins to those listed should be enough.

 

We hope that Paypal streamlines everything by the time they fully implement their cryptocurrency adoption. If transacting cryptocurrencies through Paypal is proven to be easy and convenient, it may prove to be of great significance to the financial industry.

 

On 10/22/2020 at 2:31 PM, George10 said:

Looking at the charts it is still signalling a bull market if what happens to the price in previous movements is to repeat itself therefore, we shouldn't be worried about those cashing out and I believe these are investors or holders with less holdings and i assume big whales are still hoping for more pumps before they can cash out massively.

We do now have a BTC bullrun going on. (How come nobody is updating this topic about it?) Anyway, does Paypal really has anything to do with it? Maybe, but I don't think it is significant enough, as there are also other factors.

 

[Nicole018 4548]

This is such great news for the cryptocurrency users worldwide. Paypal being one among the most trusted fund facilitating agent this can definitely change do usage of cryptocurrencies among many more uses in order to facilitate transactions. I think this has also contributed towards the value of Bitcoins.

[mohamedpc1 2213]

I think that it is difficult for PayPal to rely on Bitcoin because its laws do not allow that, so it is unlikely that PayPal relies on Bitcoin because by this it cannot recover the money that it adopts in the dollar, in addition to that it will not affect PayPal's dependence on the price of Bitcoin.

[cryptoman22 1026]

It is great news since I personally have been waiting for many years that PayPal will adopt Cryptocurrencies since I use this platform a lot, therefore I think that it will give a good boost to bitcoin and its increase will be noticed among people since PayPal owns to many users
Good luck and great winnings and a big hello to the entire community

[Syedbesharat 5423]

This a good for BTC and all other crypto currencies which gain a new platform for buyers they can get new customers with ease the PayPal giant will bring huge cap in crypto market. They have great network and many of people wishes to but from PayPal crypto. But they will only sell or buy back from members. If they do this will be great. 

[BrolySSJ 7899]

It is great to see that PayPal has adopted the cryptocurrencies into their infrastructure and i think that this a major development in getting more and more users interested in crypto and in turn increasing its demand. In my opinion, part of the price surges that were were seeing in the recent months is due to this development in PayPal. However there are also concerns with users using PayPal for crypto trading as there are reports of one such user being banned on PayPal for such. Id di make a topic on this. Anyway, it is great to see the field and reach of crypto diversifying and in the year 2021 i expect that PayPal will extend this feature to many more countries as well. 

[Fixfin 2569]

Paypal adopted crypto in a way but it doesn't allow much to do with them. It is a virtual adoption that might help for a while but it will need to be changed into actual adoption with blockchain representation of each transcaction as I think they act in a different way.

[Khan 1414]

PayPal is the old and most used payment system and being involved into the crypto it will get more attention and will be adopted by many other payment gateways, but paypal have many issues and has banned in many countries. 

[Ahmad ah 1212]

By looking and scrutinizing the movement of digital currencies, you can conclude that there is no doubt that the digital currency will become the main currency for commercial exchanges due to its wide spread and constantly growing popularity.
When you hear new news about the possibility of buying new commodities using digital currencies, that makes you feel optimistic. I hope that this method will be generalized to facilitate the process of trade exchanges and save us time and money.

[Shaza Ahmad 1682]

Since Paypal agreed to adopt Bitcoin and some large cryptocurrencies, the giant liquidity began to enter Bitcoin, and we have noticed the price increase of more than 100% since PayPal's announcement and until now, and the percentage is still eligible to double.

[percare 3192]

Paypal also adopted Litecoin, Ethereum and Bitcoin Cash so the altcoins also have a good chance and they shouldn't be considered to not be invested. I consider Ethereum and Litecoin great too and we see even Bitcoin Cash rising too much lately. These four will be on the top for some time. It was a surprise that Paypal didn't accept xrp at that time as it was the third cryptocurrency, but later we learned why this happened.

[bogdanoff 3173]

Together with all the rest big news for crypto, Paypal was another reason that caused this extreme bitcoin rise of price. Demand has exploded and Bitcoin keeps rising since more are getting in and buying expecting prices to reach even higher for many more months until this Bitcoin cycle is completed.

[Sykkuno 2887]

Paypal was a major factor for the prices we see today for Bitcoin, while we were not understanding what exactly they did with not allowing withdrawals and deposits, still many millions of users of their applications they bought Bitcoin and the other cryptocurrencies offered and are still doing it, although there are many concerns about paypal and it is not recommended to use their software at all.

[abohasnn9 2401]

My friend, PayPal adopts cryptocurrencies and deals with them and creates bitcoin wallets inside them. This is a great support for cryptocurrencies. Therefore, we see cryptocurrencies rising a lot recently, especially Bitcoin. Its price is very high, and that happened with its adoption by Paypal. Thank you.

[tienda 8776]

I see some members told about the PayPal effect in the Bitcoin price value. NO I don't think. PayPal in cryptocurrency market is like a fish in the sea. The boom of the Bitcoin is happened because of the high demand and supply managed by many persons, all sectors are participated on this Bitcoin high price BOOM.