Post
Topic
Board Economics
Re: PayPal cryptocurrency trading volume beyond expectations
by
darewaller
on 08/02/2021, 18:24:14 UTC
Exchanges such as Binance or crypto.com are the easiest way to get crypto as far as I know. For a newbie, if he googles "buy crypto", these links still will be first on the list.

Paypal first need to expand list of countries, who are able to buy bitcoin. So far only US Paypal users can by cryptocurrency. Also they need to make their "Bitcoin" as a real Bitcoin. Give users privatkeys and allow to trade Bitcoin not only within their platform. Btw, interesting to see the amount of new crypto Paypal users, that have registered on the platform only to trade Bitcoin.
I do not think that binance allows you to "buy bitcoin" in any form for most countries, sure they could be available in some nations but for many nations they are just an altcoin exchange where you buy and sell crypto between each other but there is no connection of binance with your bank account, hence it is not possible to buy bitcoin from binance.

Secondly I think it is quite evident that we are not in a situation where paypal could be available for crypto in many nations, it could be tested and asked for but it is going to take some time. Why? Because people are not really checking how laws work, paypal does check that and takes that seriously. Moreover, if Paypal wants to open bitcoin purchases and so forth just like how they did in USA but for another country, there is a lot of paperwork they have to handle before they can start that, which means a lot of time back and forth between paypal and authorities.