Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: TomPluz on August 02, 2021, 05:55:37 AM
-
Even before PayPal entered the world of cryptocurrency business, there were already rumors that it was then planning to do so and by the time it came true I am convinced that it is going to be making a big splash in the cryptocurrency market.
Just days ago, PayPal announced its entrance into cryptocurrency trading starting in the UK market...and once it can be successful in this testing ground I am sure that it will be expanding its reach into the global market as far as it is allowed to do so legally.
So years from now, I can see PayPal competing well with Binance and Coinbase on this business. Can you agree with me?
-
The fact that PayPal has the global reach that they do, the technology and the resources behind them and the fact that as an money services business of their size they have embraced cryptocurrency, I think that they will be a strong competitor on this business.
-
PayPal enters UK crypto trading market - what does it really means? Will be it like PayPal for US, where users may buy/sell/trade Bitcoin and only in PayPal? Meaning they can buy BTC, but can not withdraw it to their wallet. They can keep it only on PayPal and all transaction are limited to PayPal platform.
-
No, Paypal is not a kind of crypto exchange like Binance and Coinbase. We can trade crypto in PayPal but we cannot withdraw or transfer crypto to others. Additionally, we can find numerous coins in Binance, but in PayPal, there are only a few certain coins. And mostly it is only for payment.
-
Although PayPal has accepted some cryptocurrencies in their platform, it doesn't mean to compare it to Binance. IMO, it is too far away different between the two.
I agree with the opinion above that it is too naive to say PayPal will be the next Binance only because of the cryptocurrency.
-
Does PayPal plan to have another function, to be a crypto exchange? If it is true, there will be good news for all crypto users. More popular platforms/companies to join crypto, means crypto will be stronger to exist and develop more. I am sure Tesla is already an inspiration for other top companies in the world to consider joining crypto. In the current news, I hear Amazon wants to adopt Bitcoin as the payment tool.
-
The crypto market is changing faster than we can imagine, so I wouldn't find it strange that in a few years PayPal will become a major crypto exchange in the world with millions of users. However, PayPal needs to prove its worth. If in the US, most people trust Coinbase, if outside the US, Binance is the largest exchange in the world. PayPal needs to provide something really interesting for traders.
-
Looks like, they're offering crypto aseets towards UK market which was already indicated when paypal adopted crypto in the beginning. But who knows, paypal could achieve that type of position in crypto market as it's already popular in the centralized ecosystem. TBH, paypal could come close to binance/coinbase position according userbase and adoption rate. But it'll take more times than our expectation. ;)
-
Although PayPal has accepted some cryptocurrencies in their platform, it doesn't mean to compare it to Binance. IMO, it is too far away different between the two. I agree with the opinion above that it is too naive to say PayPal will be the next Binance only because of the cryptocurrency.
Yeah, at this point. But we don't know what will PayPal do in the coming years and there is no stopping them to take a look at the ongoing market and then plan to expand to what they already have since they have the resources to do so. And I am sure that they more adept working with regulators too. For now, it is not a competitor of Binance for sure but I am talking maybe 3 or even 5 years from now.
-
Of course not.
Binance is the top exchange in the world. PayPal is not that kind of exchange. There are other top exchanges like Kraken, Huobi, Coinbase, OKEx, Kucoin, and other top global exchanges that are available and we can use them for sure.
but, payPal? This is another type of platform, only it can sell and buy some little coins then it is said as the next of Binance? NOPE
-
PayPal was formed in 1998 as Confinity by Ken Howery, Luke Nosek, Max Levchin, Peter Thiel, Yu Pan, and Russel Simmons. In its early stage, the company focused on developing software security for individual clients. In early 2000, the company began developing and testing an online money transfer system, which attracted the attention of Elon Musk, the founder of X.com, a company that offered online banking services. In March 2000, Confinity and X.com merged, and a few months later, Musk decided to terminate the banking services of X.com and focus on financial transactions. In 2001, X.com was renamed as PayPal. The company developed rapidly during its development stage due to its referral programs and low charges, and quickly registered five million new clients between March and the summer of 2000.
We can see how giant PayPal is. let us notice the word "Elon Musk". Because he is genius, wealthy, whale and influential. PayPal adoption to integrate crypto or whatever that should be needed to implement are all possible. Future will tell us who is worthy to challenge the monopoly of Binance. ;)