One Fifth of Paypal Users are using the platform as a means to trade bitcoin

[BrolySSJ 7899]

Recently PayPal has announced that the platform will start to integrate bitcoin into its payment schemes and this has proven to be great for the crypto world, and even caused a major price increase in bitcoin at the time of the announcement. This is also good for the PayPal users as they can easily become invested within the crypto world, expanding the reach of cryptocurrencies and increasing its value through its higher demand. 

 

A recent publications shows statistics that indicate that one fifth of the PayPal users are actually now using the payment giants as a means in which to trade bitcoin. This however, is among those that are already bitcoin traders. Those that have no history with bitcoin are still skeptical on the currency with only 8% of those users making their way into the bitcoin trading business. 

 

Whilst this may seem like a very small percentage, there are close to half of the users that are still unsure about bitcoin trading, and have therefore not made a final decision, reaffirming the potential for bitcoin and cryptocurrency growth in the future. 

 

In my opinion crypto implementation in PayPal will be a great way in which to get these people that may be on the fence about these currencies to get invested into bitcoin, which could result in an increasing bull market moving into next year as well. What do you guys think about this? Perhaps PayPal should offer an event or campaign that may help or prompt these users into investing in bitcoin. Surely this is bound to be beneficial to both PayPal and the crypto world. 

[noshot 154]

I've read that Paypal blocked accounts of some people just because they traded Bitcoin. Perhaps they made money and paypal didn't want to pay them back. I also don't like that you can't withdraw from there, it is still only for the USA too. It should have done better for the price if too many were buying it. Perhaps Paypal is hiding some things from all these announcements.

Very nice post by the way, thanks and keep it up!

[Teminali69 1081]

That means after cryptocurrencies have become independent and by that i mean they can be used as money without exchanging them to fiat, then paypal and even banks would lose users.

[Braulio Eurea 720]

An important part of paypal users use the platform to trade with bitcoin, this shows the interest of these users for bitcoin and that it was a success for paypal to include bitcoin in its portfolio. It is good when the companies that provide services identify the needs of their clients, since this way they please their clients and grow as a company, since clients are the most important for an economic organization. This has driven transactions with bitcoin from the paypay platform, with this incorporation of cryptocurrencies in its portfolio of paypal services, it is strengthened, and is on the way to being one of the leading entities in the cryptographic world and of mixed wallets.

[rekter 8129]

There's no telling if it ever would be withrawable or if they would allow btc deposits ever. Because they technically aren't handling the bitcoins themselves. But this will be most interesting experiment to follow indeed.

Edited December 5, 2020 by rekter

[Jromz 2158]

One would have thought that implementation of Bitcoin in Paypal would somehow mitigate the skepticism about Bitcoin by people outside this crypto world. It's intriguing to see this has not been the case, which indicates ignorance still prevails in public, and they may just consider Bitcoin way too risky for investing . Perhaps, as you mentioned, it might be worth for Paypal to launch campaigns promoting investments in Bitcoin among its users.

Edited December 5, 2020 by Jromz

[Syedbesharat 5423]

Pay pal have many members around the world most of the paypal users are heavy investors who use PayPal for foreign payments their for the encouragement from PayPal will give them  security because they are observing for now to make move at BTC. The users will increase when the PayPal offer some good deal at crypto for season ,as we see now is black. Friday season and buying is going om everywhere so PayPal will arrange such an event. 

[Amiami 1362]

Although participation is low compared to the number of active users in Paypal, we must understand that 8% is an overwhelming amount of new merchants, PayPal currently has more than 300 million users, 8% is equivalent to 24 million new Investors, basically the entire population of some countries, in the same way this number may grow in the coming months.

[Frodler 943]

you know, if you come to look at it from the order way round, it is the expectation. and I'm very sure this percentage will even go higher by the year 2021

[pablomarwan 3082]

As I read previously, PayPal is trying to acquire all cryptocurrencies carefully. Also, through this method, you will create a giant platform that may have the majority of the new currencies, and it will also be able to add profit after you install the platform. It is a company making its way to success.

[Khan 1414]

On 12/5/2020 at 4:16 AM, Teminali69 said:

That means after cryptocurrencies have become independent and by that i mean they can be used as money without exchanging them to fiat, then paypal and even banks would lose users.

Not only Paypal users but also the Perfect Money, Skrill and there are many more but the mention one are the famous platform where user can do the crypto related trading.

[Teminali69 1081]

39 minutes ago, Khan said:

Not only Paypal users but also the Perfect Money, Skrill and there are many more but the mention one are the famous platform where user can do the crypto related trading.

So in short cryptocurrency adoption would put so many companies out of business including banks, Perfect Money, Skrill and PayPal. especially these stable coins which can easily replace the use of fiat.

[KHALED ADWANI 1216]

This movement was a very strong movement in which it gained many customers from different countries of the world and contributed to the rise in its shares, as the price of bitcoin and other currencies that Paypal accepted to deal with

[scofield64 943]

Yeah, you are right. I think PayPal should promote cryptocurrencies in its system. Majority of the world are moving towards investing in cryptocurrencies. Bitcoin now has reached it's all time high price of $22000.

[scofield64 943]

Yeah, you are right. I think PayPal should promote cryptocurrencies in its system. Majority of the world are moving towards investing in cryptocurrencies. Bitcoin now has reached it's all time high price of $22000.

[ShiNorton 906]

It is impressive numbers. Now PayPal accepts cryptocurrency & users can convert fiat into crypto to keep in the platform. BTC price increased after PayPal decided to accept Bitcoin & other crypto. In the past time users used PayPal for the means to trade Bitcoin but now PayPal allowed to use platform itself.

[Upright 2688]

Trading in bitcoin will scale as well to non users or people who don't really know about bitcoin, as PayPal basically integrated bitcoin as bitcoin was already at a stage in which it can dominate the management of money all by yourself as having a wallet to hold your funds.as it's good as bitcoin expands it's adoption

[mzk7736 1592]

PayPal have started accepting bitcoin payments very recently but still the huge number of users opting for BTC transactions to PayPal platform shows it popularity among masses.

[Maaz sultan 265]

This is a very good opportunity for all the PayPal users to invest on these crypto currencies and take the experience of crypto trading with some profits but i thinks on PayPal the higher percentage is non crypto users that gains interest in the investing on the crypto , So in some time the popularity of PayPal is increased and its also helps the crypto market to take steps on higher position .

[Lokeloke 576]

On 12/4/2020 at 10:44 PM, noshot said:

I've read that Paypal blocked accounts of some people just because they traded Bitcoin. Perhaps they made money and paypal didn't want to pay them back. I also don't like that you can't withdraw from there, it is still only for the USA too. It should have done better for the price if too many were buying it. Perhaps Paypal is hiding some things from all these announcements.

Very nice post by the way, thanks and keep it up!

The restrictions on PayPal may be because of reason to hide their availability to some people, though it's only restricted to USA, many people from different countries are finding way to bypass it to make use of it

[cryptovlek 2597]

Since paypal offered this they should have known people would be trading and what they did to ban accounts was another reason to avoid paypal. We have a better system and we are happy for paypal that adopted crypto, while in a sense only as actually they didn't. 

[zhoutong 2188]

The paypal move has helped with Bitcoin adoption, there are some countries that were not allowed to buy Bitcoin legally but had access to paypal and perhaps used this to buy, but I advise caution as this way is even easier for governments to know if you bought Bitcoin or not.

[Raqeebzy 6456]

As PayPal accepts storing as well as trading of BTC on its platform, then it is automatically a win-win situation both for BTC market and also for PayPal itself. It is just as inevitable for PayPal looking at the direction BTC faces and what is likely become of it in the coming years. A brilliant idea and it is a huge news for cryptocurrency in general. Though I not totally convinced of the compatibility - talking about scalability.

Edited December 23, 2020 by Raqeebzy

[Ridam 7455]

It clearly shows the interest of people in crypto and Trading. Paypal just provided the great way for those who were still doubting to invest and can't finding any reliable service which they are using from long time. As you know it's difficult for those who aren't informed about crypto services,to invest and Paypal became the way for them making everything easy.

[Sykkuno 2887]

Paypal did something that benefited them but it given a boost to Bitcoin too. It is very difficult to know what the long term effect will be as they use Bitcoin as a utility token and not allow withdrawals or deposits so I'm not interested to use Paypal for any reason.