Bitcoin instead of paypal

Discussion in 'Making Money Online' started by daytrader, May 9, 2014.

  1. daytrader

    daytrader
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    when moving money from paypal and sending they seem to get huge fee especially if you send huge amount.
    Has anyone ever use bitcoin instead of going through bank using paypal?
     
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  2. Joseph.Shivell

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    Paki250 is correct. If you use bitcoin, you have no idea what the value of the bitcoin is, and recent events have shown that you could wind up losing all your money if you invest in bitcoins. Paypal can be attached to a credit card or bank account, so you know that both your customer and you will actually get paid.
     
  3. Carlyle

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    Cryptocurrency is getting more and more popular every day, maybe it is not yet very convenient to use it, but I think we will not need to wait very long for some major changes.
     
  4. George Freeman

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    Cryptocurrency - maybe. Bitcoin - nope. It will fall soon, and that is a fact. It is not more relevant, as we could think before. Nowadays PayPal seems to be much much better.
     
  5. MikePeterson

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    I think Bitcoin is better than PayPal as it provides best secure methods for online payment. Services offered by Bitcoin like bit-pay is easily accepted by people as compare to PayPal services.
     
  6. daytrader

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    I believe its more secure than paypal. the fact some major online stores are considering it nowadays.
     
  7. kenzo

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    It's not safer to use Bitcoin for sure. But probably it is not much riskier. Bitcoin's position is now estabilished and nooone is expecting big changes of it's value in the nearest future. So probably it will be ok to do some payments in Bitcoins.
     
  8. bjdea2

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    I want to move towards bitcoin due ot the fees paypal charge. But I am still waiting for it to become more accepted with the authorities. Currently the major Banks are not wanting to acknowledge bitcoin. If you're a business trading in bitcoins then you can lose support from your bank.
     
  9. Joseph.Shivell

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    Bitcoin at the moment is in, or not far from, it's infancy. Many other products we now use were rejected by the mainstream. Others were only used by the very rich, and then as they became more popular, they became cheaper, and more people could afford them. Technologies like television, computers, automobiles, even some features of automobiles, were only available to the rich.
    Because of it's volatility, Bitcoin is now more appropriate for those who can afford to lose it. However, as it becomes more prevalent, as rules are established to make it less volatile, and to protect those who use it, it will become more mainstream. As George mentioned, some form of crypto-currency will eventually become widely used, but Bitcoin may not be one of them. Bitcoin has problems right now, but as the problems are solved, as the "kinks" (to put it mildly) are worked out, crypto-currency will become just another form of payment, like payment processors and credit cards. But that time is not here yet.
     
  10. Tim1

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    I would not want to be paid in BitCoin for the sole reason that I would not know how much it is worth in a week, or even a day. I would prefer to have the steady pay in PayPal because I know exactly how much I am getting. I am not worried about security, just the constant fluctuation.
     
  11. lets-build

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    I'd say use both as payment options for now, when/if the majority of your payment become bitcoin payments then that would be the time to switch.
     
  12. daytrader

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  13. hostsailor

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    PayPal is a longterm stable business, Bitcoin is a shortterm business and might collapse any second, looking at how liberty reserve and egold once were.
     
  14. SConsultant

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    Actually I do not trust in BitCoin much - sorry.
    So I opt for PayPal, that's what I use for online transactions. Yes the fees are high but it works.
     
  15. daytrader

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    Funny because most of the people even those forex traders who are into money making businesses are trusting bitcoin more than real cash and paypal.

    I'm currently into bitcoin mining and have gained few, I like the idea of having an online wallet and decentralized money than having a bank in between when transacting with someone.
     
  16. daytrader

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    While I also use paypal for people who uses paypal. I like bitcoin more this might be because someone a year ago filed a dispute to our transaction and got back his $80 after a month. Paypal just protect the buyers. but not in Bitcoin, if you decide to do it, its done. That is why making transactions with bitcoins are with caution and that you have to check the reputation of individuals - and this should work for buyers and sellers.

    By the way 1 bitcoin is equivalent to $632.68! its foreseen taht bitcoin might rise to $1K in the near future.
     
  17. Alex PG

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    Or maybe fall to $99? Why not?
     

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