Re: Paypal accept bitcoin

PayPal doesn't directly accept Bitcoin, but Braintree, a division of PayPal has partnered with Coinbase to accept Bitcoin.

Currently, Bitcoin network processes around 7 transactions per second, while PayPal with an average of 200 tps. In terms of scalability and daily transactions volume, Bitcoin is much far behind PayPal. But apart from being a good store of value, Bitcoin could also be a better decentralized version of PayPal by building second layer payment systems on top of Bitcoin, Lightning Network.

So in future, Bitcoin might be better than PayPal, but again it depends on how users will treat Bitcoin, as a store of value or medium of exchange and the extent of merchant adoption.

Paypal is optional that people cant service because people solely using these services to obtain free external transactions.

Now we have an option in PayPal that we can send the payments to PayPal. In my country I cannot directly withdraw the Bitcoin to my Fiat currency. I have a verified PayPal account it is possible to convert Bitcoin to PayPal currency.

So, are you paying anything to paypal and to your government when you convert the money from bitcoin to your local currency? Please tell us more about it as I have read that if you convert your bitcoin to your local currency via PayPal, then you have to pay to exchange, and then the PayPal authorities and then the local authorities of your country about the money. If it is correct, then I think we need to find some alternative way.

This is interesting news, because PayPal is world leading money exchange company and many companies pay to their foreign workers through PayPal. It will be easy for all the users of PayPal to receive their payments direct to their bitcoin wallet.

For PayPal it is also convenient to pay in bitcoin. It seems that now the world is gradually turning towards accepting and using bitcoin all over the world which is a good sign.