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Does Paypal Accept Cryptocurrency

Paypal Filed A Patent To Speed Up Crypto Payments, Bitcoin Dev Argues It Already Exists

Paypal Filed A Patent To Speed Up Crypto Payments, Bitcoin Dev Argues It Already Exists

PayPal Filed a Patent to Speed Up Crypto Payments, Bitcoin Dev Argues It Already Exists PayPal has filed a patent to speed up cryptocurrency transaction times by eliminating the verification time of payments. Bitcoin expert argues that this is already made possible through existing technologies in the cryptocurrency industry. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. PayPal has filed a patent to speed up cryptocurrency transaction times by eliminating the verification time of payments. Bitcoin expert argues that this is already made possible through existing technologies in the cryptocurrency industry. On March 5, 2018, Cointelegraph reported that PayPal filed a patent with the US Patent and Trademark Office (USPTO) for a technology that is supposed to speed up cryptocurrency payments through the utilization of secondary wallets. Essentially, PayPal seeks to optimize the process of settling cryptocurrency payments between merchants and buyers, on retail or e-commerce platforms. The secondary wallets of users, as described in the official patent , would allow the unique private keys of buyers and sellers to be transferred behind the scenes, to prevent every transaction from being included in blocks and broadcasted to the public Blockchain. The patent heavily emphasized that the system of verifying transactions by including payments in blocks have limited the potential of cryptocurrencies like Bitcoin. In order to be sure that the Bitcoin transaction will ultimately result in a transfer of Bitcoins to the payee, the payee must wait until the mining process confirms the transaction before transferring goods and/or services to the payer. In many transaction situations, a 10 minute wai Continue reading >>

Paypal Is Seeking Faster Crypto Payments Tech

Paypal Is Seeking Faster Crypto Payments Tech

PayPal Is Seeking Faster Crypto Payments Tech Mar 5, 2018 at 03:35 UTC|UpdatedMar 5, 2018 at 13:11 UTC PayPal is eyeing a way to boost the speed of cryptocurrency payments, a newly-released patent filing shows. An application for an "Expedited Virtual Currency Transaction System" published on March 1 by the U.S. Patent and Trademark Office (USPTO) details a method by which private keys - the strings of numbers and letters used to transact or otherwise control one's cryptocurrency holdings - are swapped from a buyer to a seller behind the scenes. The aim of the concept is to narrow the amount of time it takes for payments to go through between a consumer and a merchant, avoiding the process of sending a transaction and waiting for it to be included in the next block on the network.To do this,PayPal proposed a way to create secondary wallets with their own unique private keys for buyers and sellers. The system would transfer private keys corresponding to an exact amount of any given cryptocurrency. "The systems and methods of the present disclosure practically eliminate the amount of time the payee must wait to be sure they will receive a virtual currency payment in a virtual currency transaction by transferring to the payee private keys that are included in virtual currency wallets that are associated with predefined amounts of virtual currency that equal a payment amount identified in the virtual currency transaction." The submission is a notable one, coming years after PayPal announced partnerships with several bitcoin payment processors that allowed merchants to accept the cryptocurrency through the company's Payments Hub starting in 2014. PayPal co-founder Peter Thiel is also reportedly invested heavily in bitcoin via Founders Fund, the VC firm he co-founded. PayPal Continue reading >>

The Paypal Moment: When Bitcoin Met Mainstream Payments

The Paypal Moment: When Bitcoin Met Mainstream Payments

The PayPal Moment: When Bitcoin Met Mainstream Payments May 12, 2017 at 12:00 UTC|UpdatedMay 31, 2017 at 13:16 UTC Steve Beauregard is serial entrepreneur, co-founder of cryptocurrencypayment processing startupGoCoin and chief revenue officer at Bloq . In this entry in CoinDesk's " Bitcoin Milestones " series, Beauregard looks back on the day PayPal began accepting bitcoin - givingits stamp of approval to atechnology many believed had the potential todisrupt it. It's a Monday in Bitropolis, but not just any Monday. For nearly three months, the GoCoin team had kept painfully silent on the biggest bitcoin news story in the industry to date. In 12 short hours, the press embargo would lift, thenews would jolt the financial world and GoCoin would be cemented in history alongside BitPay and Coinbase as the startups that ushered one of the world's largest payment companies into cryptocurrencies. Yet, on the eve of that very announcement, our inclusion was far from certain. When I founded GoCoin along with Brock Pierce in mid-2013, we discussed that we may be too late. BitPay had been offering payment services to online merchants for well over a year, touting they had signed up 10,000 merchants. Coinbase announced they had signed up the first major retailer, Overstock, to accept bitcoin . GoCoin had raised a modest seed round and was "heads down" in development while BitPay and Coinbase continued to one up each other with increasingly impressive announcements - Gyft, CheapAir, Virgin Galactic and Dell. It felt like every day GoCoin wasn't live would mark another major merchant lost to BitPay or Coinbase. In response, I was putting intense pressure on the development team to compress the Go Live schedule. My system architect, Margot Ritcher, and lead developer, my nephew Kevin Continue reading >>

Pay With Cryptocurrency Using Coinbase's New Paypal Competitor | Fortune

Pay With Cryptocurrency Using Coinbase's New Paypal Competitor | Fortune

The largest U.S.-based cryptocurrency exchange, Coinbase, is releasing a PayPal-like service of its own. On Wednesday, Coinbase wrote about its new platform that will make it easier for merchants to accept payments with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin through Coinbase Commerce. Using the platform on an e-commerce website adds a PayPal-like button to the checkout screen. Coinbase Commerce can be directly integrated into a merchants checkout flow or added as a payment option on an e-commerce platform, the blog post continued . Shopify, which allows users to launch their own online stores, is already giving its users the option to accept payments via Coinbase Commerce . Some cryptocurrency aficionados immediately took to the platform. Just made our 1st sale using #CoinbaseCommerce and it was paid with $LTC ! #Litecoin #PayWithLitecoin pic.twitter.com/qoGTnL3Klf Crypto Whale Clothing (@ClothingWhale) February 15, 2018 Still, dont expect a mass surge of merchants gearing up to accept cryptocurrency. Questions about whether or not the platform addresses issues that have barred many other merchants and consumers from accepting cryptocurrency still exist. The volatile price of Bitcoin, for instance, has made it difficult to nail down a price on payments. Gaming platform Steam cited that as an issue when it stopped accepting cryptocurrency. Coinbase is not the only company with such a platform. Bitpay, which is used by Microsoft , also makes a cryptocurrency payments programthough notably, it only accepts Bitcoin. Coinbases announcement comes at a time when the firm itself is having issues with payments. Several major banks no longer allow consumers to buy Bitcoin using credit cards. More recently, users reported issues withdrawing from their wallets using PayPal, Continue reading >>

Split From Paypal Will Enable Ebay To Begin Accepting Bitcoin, Cryptocurrencies

Split From Paypal Will Enable Ebay To Begin Accepting Bitcoin, Cryptocurrencies

( ANTIMEDIA ) Internet giant eBay made headlines this week over its decision to drop Paypal as a payment processor on its site. While this was news in itself as Paypals stock price took a dive, perhaps more interesting are the potential options that come with eBays new processor, a Dutch company called Adyen. Adyen, which processed roughly $25 billion worth of payments in 2014 and $50 billion the follower year, is unique because it has partnered with BitPay since the end of 2015. Bitpay is a popular payment platform that allows consumers and businesses to conduct transactions with bitcoin and cryptocurrencies. Announcing the partnership at the time, Bitpay noted their union would allowsome of the biggest companies in the world the ability to begin accepting bitcoin payments. Boasting that Adyen works withover 180 currencies and over 250 payment methods to process their payments,Bitpay added thatAdyens merchants can now easily accept bitcoin as a payment method from their e-commerce stores. Now that Adyen is partnering with eBay, its possible the e-commerce giant will be able to accept bitcoin for payments. AsFortune pointed out ,buyers will have a wider choice of options on the new, more open eBay payments platform (bitcoin, anyone?). If thats the case, there will likely be a variety of crypto payment options considering BitPay started working with other coins at the end of last year. Still,Fortunenotes that eBayis still somewhat restricted in what it can offer in the financial realm under its original agreement with PayPal but that deal expires in June, 2020.Regardless, the developing relationship between Adyen and eBay will be one to watch in the coming years. In a 2015 buying guide, eBay published a list of merchants that accept crypto, either directly or through th Continue reading >>

Who Accepts Bitcoins?

Who Accepts Bitcoins?

Microsoft Users can buy content with Bitcoin on Xbox and Windows store Reddit You can buy premium features there with bitcoins Virgin Galactic Richard Branson company that includes Virgin Mobile and Virgin Airline CheapAir.com Travel booking site for airline tickets, car rentals, hotels Expedia.com Online travel booking agency Newegg.com Onlineelectronics retailer now uses bitpay to accept bitcoin as payment Wikipedia The Free Encyclopedia with 4 570 000+ article The Internet Archive web documatation company Bitcoin.Travel a travel site that providesaccommodation, apartments, attractions, bars, and beauty salons around the world Pembury Tavern A pub in London, England Old Fitzroy A pub inSydney, Australia Mega.co.nz The new venture started by the former owner ofMegaUpload Kim Dotcom Lumfile Free cloud base file server pay for premium services PizzaForCoins.com Dominos Pizza signed up pay for their pizza with bitcons Whole Foods Organic food store (by purchasing gift card fromGyft) Bitcoincoffee.com Buy your favorite coffee online Grass Hill Alpacas A local farm inHaydenville, MA Jeffersons Store A street wear clothing store in Bergenfield, N.J Helens Pizza Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register A Class Limousine Pick you up and drop you off at Newark (N.J.) Airport Seoclerks.com Get SEO work done on your site cheap Mint.com Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more Fancy.com Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy ) BigFishGames.com Games for PC, Mac and Smartphones (iPhone, Android, Windows) Suntimes.com Chicago based online newspaper San Jose Earthquakes San Jose California Continue reading >>

Ebay May Accept Cryptocurrencies In The Future As The Platform Drops Paypal As Main Payment Option

Ebay May Accept Cryptocurrencies In The Future As The Platform Drops Paypal As Main Payment Option

By UseTheBitcoin in Cryptocurrency News Home The cryptocurrency community has always been asking for eBay to accept cryptocurrency payments. It is not the first time that rumours appear to be circulating in the web about this possibility. The reality is that the famous platform is dropping PayPal as the main payment option. eBay may integrate with a new payment system built by a Dutch company. This partnership would allow the e-commerce platform to accept different payment methods, including cryptocurrencies. It is clear that PayPal and eBay have had a close commercial relationship during the last years. But it seems that this partnership is coming to an end. It is important to mark that PayPal will not be removed from the platform as a payment option. It will just not be the default options for customers in the site. Some reasons that pushed eBay to take this decision are the strict regulation of accounts that PayPal has and the random security checks that prevent people from accessing funds fro up to 180 days. Furthermore, PayPal is a more expensive option than other platforms. eBay will see its revenue increased by around $2 billion dollars in the next years just reducing the processing charges. The famous e-commerce company is looking to integrate a payment system built by Adyen. Adyen is a Dutch company that provides access to many different payment methods. Cryptocurrencies are among the payment options. It is not clear whether eBay will enable the option to accept cryptocurrency payments or not, but it is an important approach to the cryptocurrency world. If eBay decides so, it may start accepting cryptocurrency payments as the technology becomes more mature. The e-commerce platform will start to test the different methods offered by the Dutch company in order t Continue reading >>

Selling Bitcoin Is Against Paypal Policy

Selling Bitcoin Is Against Paypal Policy

Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type. This post is to share info, possibly to help people before they end up in the same situation. I have been selling Bitcoin for about 5 months with PayPal as the payment processor. I've been self-employed during this 5 months and have become reliant on Bitcoin-related income. I've actually been involved with Bitcoin for over 3 years and have saved up quite a few Bitcoin, which I decided to sell when I was laid off. Over the 5 months, I've had several disputes which I lost because Bitcoin is not a "tangible item" and not covered under Seller Protection. I've lost over $2000, which essentially means I had over $2000 stolen from me via fraudulent PayPal charges. These buyers knew what they were doing and knew they could get away with it. On May 10, 2017, I received an email from PayPal stating that the selling of Bitcoin means I was operating as a currency exchange (which includes electronic media/money/currency), which is against the Acceptable Use Policy. Quote "Per our current Acceptable Use Policy for Money Service Businesses, PayPal may not be used to operate a currency exchange, bureau de change or check cashing business including the sale of bitcoin." Now I am required to sign an affidavit stating I understand and will comply. Then they later say they look forward to hearing from me and thanks for choosing PayPal as my business partner. Well, I just lost my business. Continue reading >>

#1 Way To Buy Bitcoin With Paypal Instantly (2017 Guide)

#1 Way To Buy Bitcoin With Paypal Instantly (2017 Guide)

Buying bitcoins with PayPal is hard and confusing. Luckily, today we'll show you how easy and fast it can be. We've put together the complete guide on how to convert PayPal to bitcoin. VirWoX is the easiest and most popular way to buy bitcoins with PayPal. VirWoX is the workaround/hack discussed in this guide. It's not super simple, but yes it really works and is the best way to buy bitcoin with PayPal today. We suggest using the exchanges listed below or doing research before buying from any exchange. Many exchanges are simply trying to steal your passwords and personal information! We do research on every exchange we list and are very careful not to include scam exchanges on our site. Note: You may need to wait a couple days after opening a VirWoX account before you can deposit money. After your first deposit, future deposits can be made instantly. Your initial buying limit is $90 per day or $270 per month, although these limits grow quickly with time! You'll need a Bitcoin wallet to withdraw your coins to after you buy. Read our guide on the best Bitcoin wallets. The 10% fees are crazy high for buying bitcoins with PayPal. Were you buying with a PayPal account connected to your credit or debit card? The fees are much lower and you'll get your bitcoins faster. Still want to buy BTC with PayPal? Keep reading and we'll show you how! Tutorial: Buying Bitcoin with PayPal on VirWoX Here are step-by-step instructions to help make buying BTC with PayPal easier: From the home page, click on Not registered yet? Now youll enter your details in order to create an account. Dont get confused by the section titled Link to avatar. You can leave this untouched. At this point, your account has been created. A temporary password will be emailed to the address you provided in step two. Continue reading >>

Cryptocurrency Is Accomplishing Paypals Original Mission

Cryptocurrency Is Accomplishing Paypals Original Mission

In a 2014 editorial titled Bitcoin is the New PayPal , we made the case that PayPals history could provide insight on Bitcoins future. Specifically, we argued that, in the short term, the Bitcoin ecosystem would expect a bumpy ride from fraudsters, but with some precautions the various players in the ecosystem could ultimately prevail. Fast forward three years, and its largely mission accomplished. Bitcoin is safe and has entered the mainstream. The fallout from Mt. Gox was short-lived, and the ecosystem is thriving. If you need more proof than Bitcoins price soaring past $11,000 this week, then consider the fact that earlier this fall it was added to Googles payments API . In some ways our three-year-old editorial is starting to look prescient. Not only has Bitcoin soared past its early stumbles with fraud, but with its current trajectory it really is starting to resemble the new PayPal. And not just in terms of its ubiquity. Yammer cofounder David Sacks who served as PayPals first COO recently told CNBC : [Bitcoin] is fulfilling PayPals original vision to create the new world currency. We actually had T-shirts printed in 1999 with that mission statement. We believed that, if we could get enough people to participate, money would never need to leave the system. PayPal could become the database of money. When we got acquired by eBay, that project kind of stopped. But cryptocurrencies like Bitcoin are now fulfilling that original vision. As Sacks alludes to in his comments, PayPals original vision was much more ambitious than just becoming the defacto payment service of eBay. I (Eric) wrote about this vision in my book The PayPal Wars . Heres my account of a speech given by CEO and cofounder Peter Thiel during a company meeting in late 1999, just a few weeks after PayPa Continue reading >>

Paypal Believes Bitcoin Will Succeed As A Cryptocurrency

Paypal Believes Bitcoin Will Succeed As A Cryptocurrency

PayPal Believes Bitcoin Will Succeed as a Cryptocurrency Most of the people do not understand how cryptocurrencies work. A famous question is, where do you have the coins? Despite Bitcoin is in the market since almost 10 years, the same people believe that it will not last longer. But the CFO of PayPal sees positive things in Bitcoin for the future. John Rainey, PayPals Chief Financial Officer, is almost sure that Bitcoin will become a popular method of payment . As reported by the Wall Street Journal, Rainey said that the volatility does not make it reliable. Given the volatility of Bitcoin right now, it is not a reliable currency for transactions because if you are a merchant and you have 10% profit margin, and you accept Bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction. Of course, he also believes that Bitcoin is a legitimate currency. The problem is that it is not ready for mainstream adoption. He has also expressed that blockchain technology has real merit. At some point there is very high likelihood. The technology there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day. In the past, PayPal has shown support for Bitcoin when merchants were able to accept cryptocurrencies on the platform. Due to different problems and the nature of Bitcoin, PayPal decided to stop supporting cryptocurrencies. PayPal CEO, Dan Schulman, said that Bitcoin is an interesting experiment and that it could change the world. eBay Drops PayPal as the Main Payment Option eBay has been a very close ally of PayPal. The platform was processing payments through PayPal as the main option. But some weeks ago, eBay announced that t Continue reading >>

Blockchain | Paypal Public Policy

Blockchain | Paypal Public Policy

A blockchain is an implementation of a digital ledger. Like a database, a digital ledger can record information of various types, but unlike most databases, blockchain implementations use cryptography to ensure that the information recorded is immutable and trusted. Blockchain technology originally was created to facilitate the cryptocurrency Bitcoin and can be utilized to facilitate, record and verify transactions using cryptography to ensure that data recorded is trusted and unable to be changed or removed. Blockchain technology, while still in its early days, has the potential to disrupt major industries. Many mainstream companies and investors are exploring or investing in blockchain technology. PayPal was one of the first payment companies to enable merchants to accept Bitcoin through Braintree, by way of partnerships with payment processors BitPay, GoCoin, and Coinbase. Were working to understand how to leverage blockchain to better serve merchants and users. As of Q1 2016, total venture capital investment in bitcoin and blockchain startups exceeded $1.1 billion [ link ]. Blockchain Uses a Consensus Model to Manage Data A blockchain is an implementation of a digital ledger. Like a database, a digital ledger can record information of various types, but unlike most databases, blockchain implementations use cryptography to ensure that the information recorded is immutable and trusted. Data on a blockchain is immutable because it cannot be changed or removed, and it can be trusted because it is immutable. A blockchain achieves this by sharing instances of the ledger among all the different parties on a network and using a consensus model that requires multiple parties to agree and verify each time an addition is made to the chain. Broadly speaking, blockchains can be Continue reading >>

Breaking: Paypal Merchants Can Now Accept Bitcoin

Breaking: Paypal Merchants Can Now Accept Bitcoin

BREAKING: PayPal Merchants Can Now Accept Bitcoin Join our community of 10 000 traders on Hacked.com for just $39 per month. In a long SEC filing from today, PayPalstates that its merchants can now begin accepting Bitcoin. As the original text to the filing reads: A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information. For our standard service, we do not charge merchants setup or recurring fees. A merchant can also integrate with Braintree to begin accepting payments with credit or debit cards, PayPal, Venmo, digital currencies such as Bitcoin, or other payment solutions with a single integration. In September 2014, PayPal announced it would accept Bitcoin via integration with Braintree, and the same month announced partnerships with Coinbase, BitPay and GoCoin. Via the PayPal Payments Hub merchants could use customizable APIs to integrate Bitcoin into their shops for digital goods. At the time, it released a video hinting at Bitcoin integration. eBay CEO John Donahoe said in 2014 that Bitcoin would play an important role in eBays plans before the two companies agreed to a split due to a changing digital payments landscape. PayPal is playing the role of the intermediary, but the cost will be left up to the merchant and the payment processor, said Scott Ellison, PayPals senior director of competitive intelligence and corporate str Continue reading >>

Paypal Merchants Can Now Accept Bitcoin

Paypal Merchants Can Now Accept Bitcoin

by Ecommerce News . About Payments with tags Europe . 13,595 views. eBay and PayPal have confirmed their plans to allow merchants to accept bitcoin payments through third-party processor Braintree. In September last year, PayPal already announced it would accept Bitcoin via integration with Braintree, but now its official. In a long SEC filling it talks about accepting the crypto currency. In the SEC filling , it says: A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information. For our standard service, we do not charge merchants setup or recurring fees. A merchant can also integrate with Braintree to begin accepting payments with credit or debit cards, PayPal, Venmo, digital currencies such as Bitcoin, or other payment solutions with a single integration. Thats the only time the word bitcoin is mentioned in this filling. But the message is clear. As said before, its no surprise PayPal is finally accepting bitcoin. Half a year ago, the payments company was already hinting at bitcoin acceptance in a video and soon after that Braintree, a daughter company of PayPal, announced it would bring bitcoin to Briantree developers, enabling their customers to pay with the alternative currency across their favorite apps. Also, in September last year, PayPal partnered with three major bitcoin payment processors BitPay, Coinbase and GoCoin to allo Continue reading >>

Paypal Continues Crackdown On Crypto, Permanently Limits Seller Accounts

Paypal Continues Crackdown On Crypto, Permanently Limits Seller Accounts

Most cryptocurrency users are well aware thatbuying or selling crypto with PayPal is a big problem. In most cases, it is something one should avoid, as there is always the risk of fraud or even a chargeback. It now appears the company itself is actively freezing user accountsconnected withany cryptocurrency-related activity. While some people may consider thisto be borderline illegal,the companyis certainly withinits rights to freeze accounts and make funds inaccessible for extended periods of time. Avoid PayPal When Dealing with Cryptocurrency It is a mystery why so many people still try to buy and sell cryptocurrency through PayPal . Although PayPal may be one of the moreconvenient and commonly-used online payment methods out there, the company doesnt like Bitcoin or other cryptocurrencies all that much either. In fact, the platform protects neither buyers norsellersof digital items likecryptocurrencies. One of the big risks when using PayPal to sell cryptocurrencies isthat buyers can always perform a chargeback. If the buyer claimshe or she never received the cryptocurrency in question, they will probably get their money back. Even if they did receive the money, and the seller can prove it, it is still up to the company itself to determine whether or not a refund request is valid. In most cases, the sellers will get the short end of the stick, but that is only to be expected. Things have certainly escalated lately, as the company is cracking down on cryptocurrency activity even further. Some users report their PayPal accountshave suddenly been frozen and their money madeinaccessible for 180 days. This is not something a lot of PayPal users will like whatsoever, but it is evident the company doesnt take kindly to Bitcoin and altcoins right now. Paypal has banned my a Continue reading >>

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