And how desperate
Well PayPal has now decided not to allow purchase of cryptos via their platform.
I have had a PayPal account since PayPal began, I can not say how many dollars and euros have flowed through them and my business,however lets just say it is in seven figures.
I have used Coinbase for all purchases (not trades) all along as well, which allowed PayPal conversion to and from fiat to BTC, LTC, ETH and BCH(Recently). I do not like the bank transfer as it takes up to a week to fulfill, and enjoyed using my PayPal debit card for instant purchases.
Well it looks like that party is over, but PayPal is now set to loose money... I just bought $7,000.00 worth of LTC, but was forced to use the bank transfer method.
So how much did PayPal loose... and how much more in the future will they lose, not just from me but all intended purchases of Cryptos.
I smell FEAR
They understand they are beginning to lose market share as merchant accounts are adding the crypto solutions like; Coinbase Commerce, BitFlyer, Circle and more.
But why push people toward these solutions and away from them?
Now you may be sitting back thinking, well a merchant account is different from a straight crypto purchase... and that is true, but there is always a way around it. As a merchant I can simply invoice for cryptos, or just make the purchases through the merchant account as I own an online merchant business.
As more and more fiat peddlers block the cryptos, people will find their own solutions... to their own loss.
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Image Credit: PayPal, BitFlyer
when everyone fear means that's the thing that's going to be changing the world i am very happy to see this don't know why lol
I just heard the Abra app or platform is not only decentralized, but it will offer stocks, bonds as well as cryptos. And it all runs on LTC! Things are changing fast.
good job
PayPal can be very frustrating.
I feel your pain; I really do.
All exchanges are at times frustrating, the world needs a de-centralized exchange and merchant application for fiat to crypto to fiat that is easy to use for the beginners getting into crypto and those more familiar and tired of the antics.
Paypal are probably the most susceptible company to cryptocurrency adoption. Typical case of companies playing defence on innovation only to get wiped out by the same innovation they refused to adopt.
Yes they are one those that will be most affected... deservedly so at times, like now.
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