PayPal Will Start Accepting cryptocurrency such as Bitcoin BitcoinCash Ethereum and Litecoin at the beginning of early 2021.
Many users are taking this negatively because Paypal is Centralized
But in my opinion, this is better than using a third-party P2P platform
if we will talk about PayPal to Bitcoin trade this is a common trade that scam happens
i experience it before when i need to pay in some website where they don't accept bitcoin
i sell my bitcoin in the third-party P2P platform the scammer chargeback in PayPal and i never get my bitcoin back
even i don't plan to use PayPal anymore i don't a have choice because this is a platform that almost accepted everywhere
but it will be different if i can put some bitcoin in PayPal instead and trade it directly on their platform
we all know and need to accept the fact that we cant use bitcoin everywhere
with paypal adoption bitcoin have a higher chance of merchant accepting bitcoin independently
Not your keys, not your coins are one of the reasons of some users but holding bitcoin in PayPal is optional
the same in exchange and other centralized platforms. only put what you plan to use, trade, or afford to lose.
Do you think this is the start of mass adoption in bitcoin? or Nah?
I believe PayPal accepting bitcoin is a very huge boost for the mass adoption of crypto in the mainstream world.
I saw a thread similar to this yesterday and I mentioned there that PayPal is a big company in the financial world and their reputation precedes them which makes people trust them. Trust me, many will adopt bitcoin now simply because PayPal endorses it since accepting bitcoin means they are accepting it
I however hope that their transaction fee is as minimal as possible so as not to chase many of those they'll win over.
I think it is all good for bitcoin if centralized institutions like PayPal accept bitcoin and other cryptocurrencies