PayPal Advert for the upcoming ‘Checkout with Crypto’ feature

PayPal Advert for the upcoming ‘Checkout with Crypto‘ feature

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  1. Except it is not checkout with Crypto. It is checkout with the USD that is received when your crypto is sold by PayPal.

    At the point and time of sale, PayPal is selling your crypto for USD and you are paying the merchant with USD. Therefore, you are at the mercy of PayPal and the exchange rate they are placing on you trade when you go to checkout. I would be quite surprised if PayPal wasn’t marking down that exchange rate to cover fees and make a little vig.

    I am also curious to see what PayPal will be charging the merchant for this service.

  2. This is great for adoption but it could be better. It really seems like people paying in this method are more than likely going to get eaten alive by Paypal’s exchange rate and transaction fees. Not to mention however taxes are handled with this.

    I am sure people will use it, but it is straight up seems like a bad deal for the consumer using that method. To me, this is almost like going to a car dealer and seeing a car with a $10k price tag and being like… “yo … I’ll buy that right now for $11k cash” instead of asking for a discount because you are paying cash.

    Hopefully once we learn more about the rates and all it won’t be that bad…. but come on… it is Paypal… they are looking out for #1 and trying to profit off the adoption of Crypto. If people are willing to use it they want to make the money off it.

  3. Adaptation is the way! Even if most of us wouldn’t use this, it will open the market to SOOOO many new people. After US practice run when it will be open world wide it will get even bigger.

    I can’t understand anyone who sell at this time, we are just in the beginning of this bull run, we have at least a few months of news and institutional FOMO…

  4. If we are looking at apps that aren’t 100% crypto, i.e. a banking app that also has crypto options, I still think CashApp is a better mobile platform for newcomers. They have really easy sign-up bonus rewards of like $5, and you can buy Bitcoin right on the app. Fees are free (as of now) to send between other users, and the fees of sending it to outside wallet addresses is still minimal. Paypal only lets you buy, sell, and hodl. With this new feature, it seems pretty clear that they just hold all of the Bitcoin and shuffle around the numbers on your fiat balance sheet.



What do you think?

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