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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 >>

Paypal (pypl) Has Partnered With Coinbase For A Bitcoin Deal Quartz

Paypal (pypl) Has Partnered With Coinbase For A Bitcoin Deal Quartz

PayPal is slowly dipping its toes in the bitcoin waters. The company has partnered with Coinbase , a virtual currency wallet and exchange, so Coinbase users can sell bitcoin and cash out to their PayPal accounts. Buying bitcoin isnt possible yet, but the small integration is a noteworthy first step. PayPal did not immediately respond to Quartzs request for comment. While bitcoin and its underlying technology, blockchain, has caught Wall Streets attention, consumer tech giants have largely stayed away from the technology until now. Recently, Quartz reported that Airbnb acquihired a bitcoin company and its engineers. Other tech giants, like IBM and Microsoft, have been exploring blockchain tech more closely. IBM developed open source code thats being used in the Linux Foundations Hyperledger consortium. Microsoft has been integrating blockchain services into its Azure cloud platform. Behind the scenes, PayPals been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015. PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin. For bitcoins growth, even a slight interest in bitcoin on PayPals part would be a big win. PayPal has over 180 million customers and processed $1.4 billion in payments in the first quar Continue reading >>

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 >>

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 >>

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 >>

Sell Bitcoin Paypal - Exchange From Bitcoin To Paypal Usd

Sell Bitcoin Paypal - Exchange From Bitcoin To Paypal Usd

Sell your Bitcoins for USD on your PayPal account easy, fast and secure here at Evonax.com. Whatever you have mined, exchanged or bought Bitcoins you can easily sell your coins by exchanging them to US dollars through Evonax.com your USD will be transfered to your PayPal account within 2-3 days (most exchanges are processed within 8 hours). Start exchanging Bitcoins to PayPal (USD) today! Go to the frontpage and start your exchange by choosing from Bitcoin and to PayPal Enter the Bitcoin amount you want to exchange into US dollars on your PayPal account Click Start exchange and send your coins to the unique Bitcoin address provided to you After we receive your coins we will send the USD to your PayPal account All PayPal accounts in the world can receive US dollars. Afterwards you can easily make a withdrawal to your local bank account directly from your PayPal account in your local currency. PayPal has 162 million active digital wallets and is available in 203 countries PayPal support more than 25 currencies and we handle all exchanges USD PayPal was inveted 1998 and Bitcoin was inveted in 2009 PayPal helps people and businesses accept and make payments in more than 100 different currencies The Bitcoin market cap are today more than 6,405,390,911 USD The Bitcoin trading volume within 24 hours is more than 67,719,700 USD The bitcoin technology is based on the blockchan while PayPal is based on normal peer-to-peer transactions Exchange and sell any altcoin to US dollars through PayPal Here at ExchangeMyCoins.com you can exchange Litecoin , Bitcoin and Dogecoin to USD through PayPal. You are free to exchange between the different crypto currencies and can furthermore exchange your coins into real money transferred directly to you PayPal account. Actually it is quiet easy. Continue reading >>

Transfer Bitcoin To Paypal Usd | Unichange

Transfer Bitcoin To Paypal Usd | Unichange

Perfect Money account is not your personal Member ID which contains only digits, it is account number which starts from U (dollar account), E (euro account) or G (gold account). When you use our service you can use only U or E accounts. Bitcoin address consists of 27-34 alphanumeric characters, beginning with the number 1 or 3. Fasapay account consists of 2 letters and 5 digits (example: FP00000). PayPal accounts are your e-mail accounts in appropriate system. Type additional contacts. This information is optional. You can add any of your contacts so we can contact you in case if some additional information needed. You will be notified on your cell phone when the order is completed. Continue reading >>

5 Methods To Buy Bitcoin With Paypal Instantly In 2018

5 Methods To Buy Bitcoin With Paypal Instantly In 2018

5 Methods to Buy Bitcoin With PayPal Instantly in 2018 Last updated on November 24th, 2017 at 08:10 am Buy Bitcoin with Paypal step by step tutorial Note:If youre looking to buy Bitcoin with Paypal or a credit card for trading purposes onlycheck out AvaTrade or Plus500 Bitcoin CFD trading. For more information read this post . One of the biggest issues today in Bitcoin is the fact that you cant buy it very easily. Even though Paypal has been very favourable of Bitcoin in the past 2 years, its still an issue to find credible places to buy Bitcoins with Paypal in 2016. Why wont Paypal allow this ? Simple. There are numerous chargeback cases created by scammers who buy Bitcoin with Paypal from you and then claim they didnt receive anything. This way they get to keep their money and their Bitcoins( heres a short video illustrating this ). Deposit money to your account with Paypal Buy Bitcoins with your newly purchased SLL on the SLL/BTC exchange And now for a more detailed explanation and some additional options The limits change according to your account level400/day click this link to see what countries are availableYes This company has been operating for over 4 years but has been reported to cause issues on several occasionsAverage Support takes up to 48 hours to respond and is usually briefAverage Sellers tend to use a higher exchange rate to compensate for the risk they are takingHigh Each seller has different limitations depending on your reputation and his resroucesDepends on seller This company is well known throughout the Bitcoin communityGood The exchange rate on the site is around 2% higher than other exchangesHigh Sellers tend to use a higher exchange rate to compensate for the risk they are takingHigh Pros:A reliable method that has been around for a long time 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 >>

Paypal Users Receive Cryptocurrency Warning Email

Paypal Users Receive Cryptocurrency Warning Email

Paypal Users Receive Cryptocurrency Warning Email This week Paypal users reported receiving an official-looking email from Paypal, warning users about activity [involving] the trading or transfer of crypto currency [sic] which is prohibited under our Acceptable Use Policy, asking the receiver to cease any activity that results in the trading or transfer of crypto currency. Also read: Since Embracing Bitcoin, Robinhood App Value Jumps to $5.6 Billion Paypal Users Receive Cryptocurrency Warning Email I am a PayPal user, David Veksler of the Foundation for Economic Education and The Atlanta Bitcoin Embassy explained to News.Bitcoin.com. My account is 17 years old. This morning I got the email linked in my message. Friday, March 16 Mr. Veksler, and presumably a sizeable chunk of Paypals nearly 200 million users, received an official-looking email seemingly from the company, complete with letterhead, titled Cryptocurrency Warning. The two decades-old popular online payments system includes founders such as Peter Thiel and Elon Musk. The companys revenue routinely ranks in billions, and it operates in over 200 markets and in 25 currencies around the world. Paypal is often seen as a direct competitor to cryptocurrencies, which wish to remove its centralized business model from everyday transactions. The company has made conflicting statements about crypto in general and bitcoin in particular, but theres no denying they can see the future, as just this month it was discovered the company applied for crypto-related patents. After appreciating their business, the receiver of Cryptocurrency Warning was scolded: While reviewing your account, we noticed that your activity involves the trading or transfer of crypto currency which is prohibited under our Acceptable Use Policy. As thi Continue reading >>

Coin2pal Review - Sell & Receive Bitcoin Funds Into Paypal Account Fast?

Coin2pal Review - Sell & Receive Bitcoin Funds Into Paypal Account Fast?

Coin2Pal is a Bitcoin to PayPal service in other words the service allows you to convert Bitcoin to PayPal. Whats interesting about this, is that it has never been a secret that PayPal has had issues with virtual currencies for years now. It isnt uncommon for this payment processor to suspect anything malicious and the account is shut down immediately. Regaining access is a whole other story of its own, and often unsuccessful. Somehow, Coin2Pal begs to differ. It would appear that they are one of the only ones who have found a way to circumvent this from happening. But the question remains, for how long. There is some speculation that the problem has only been when you are purchasing Bitcoin with PayPal. At least, that is what Coin2Pal would have you believe. Then, we have the crypto experts urging people to be very aware of the difficulties this payment processor has had for a long time so why should this be any different? Having said all that, lets take a closer look at what Coin2Pal is offering through their services. The Coin2Pal website is relatively straight forward. It is designed to convert your Bitcoin into US dollars. Once the conversion is complete, the monies are transferred to the PayPal account according to the user preferences. What this means is that the Bitcoin doesnt even need to render into the users PayPal account it can be directed to anyones. To receive the funds, there is a PayPal fee of $0.20 where a third part transfer is usually in the neighborhood of $1.00, so this is a benefit for sure. When you visit the Coin2Pal website you are prompted to complete a form where you are intended to enter in a variety of details. These range from where you would like the Bitcoin distributed: Receive funds in my own PayPal account ($0.20) Send funds to a thir Continue reading >>

Paypal Now Lets Shops Accept Bitcoin

Paypal Now Lets Shops Accept Bitcoin

by Jose Pagliery @Jose_Pagliery September 26, 2014: 6:15 PM ET This week, the payment processing company PayPal took its first venture into the world of all-digital money. Merchants that work with eBay's ( EBAY ) PayPal can now easily start accepting payments from customers that use Bitcoin ( XBT ), an independent, government-less currency. PayPal struck a deal with three Bitcoin payment-processing companies: BitPay , Coinbase and GoCoin . Bitcoin is an Internet-based system of money specifically designed to cut out middlemen, like banks and governments. So, it sounds odd to have Bitcoin processors. But they make it easier for everyday, non-tech-savvy businesses to accept bitcoins -- and immediately convert them to cash. But why take bitcoins -- which have fluctuated in price from $1,100 and $400 in the last year -- instead of proven government money? The system offers much lower transaction fees, which cost businesses a huge amount of money. The 2%-3% that shops pay in credit card swiping fees can obliterate their profits. Consider this PayPal's first -- but not last -- foray into the world of Bitcoin. The company has made clear that its interest in Bitcoin runs more than skin deep. In the last year, eBay's two top executives -- CEO John Donahoe and former president David Marcus -- have expressed interest in Bitcoin's technology. PayPal's senior director of corporate strategy, Scott Ellison, told CNNMoney the company is most intrigued by the potential to harness the technology that lies at the heart of the Bitcoin system, a public ledger called a blockchain. It's a totally new way of thinking about transactions. It keeps records that are decentralized and keeps users semi-anonymous while making their transactions public. "We think Bitcoin has tremendous opportunities 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 >>

I Received A Payment Notification Email, But The Payment Does Not Appear In My Paypal Account. Why?

I Received A Payment Notification Email, But The Payment Does Not Appear In My Paypal Account. Why?

Find answers or join the conversation in the Community Help Forum . I received a payment notification email, but the payment does not appear in my PayPal account. Why? If youre notified that youve received a payment, but you dont see it in your PayPal account, there are a number of possibilities: The sender may have accidentally sent the payment to the wrong email address. You might want to contact the sender to confirm that the payment was sent to the correct email address. You may have the email address on your account, but you have not yet confirmed it. You need to confirm your email address to prove that you have access to it, before you can receive payments. You can confirm it under your payment settings. Fake emails, also known as phishing emails, attempt to collect your personal and financial information. These fake emails often link to fake websites that encourage you to enter personal information such as credit card numbers, passport or drivers license numbers, and account passwords. If you think youve received a fake email, forward it to [email protected] then delete the fake email from your inbox. Please note: funds sent to your PayPal account will not be automatically transferred to your bank account. To transfer money to your bank account, log into your PayPal account, click Transfer to your bank below your PayPal balance, and follow the instructions on the screen. Were sorry, the page youre looking for is no longer available. Please try your search again in our Help Center if you have a question or want to contact us. 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 >>

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