Many times falsely reported it’s now time for it to be true! Paypal opens the gate to crypto.
All major media outlets picked up the news! This is what was described as a wet dream for crypto owners. Hopefully, Amazon is next. But it’s not all peaches and cream.
Celebrations were somewhat stifled by the small print that revealed PayPal wouldn't let users transfer their cryptocurrency into or out of PayPal—nor would users have control of the private keys.
"Currently, you can only hold the cryptocurrencies you buy on PayPal in your account,"
Paypal stated, outlining its bitcoin and crypto plans. "Additionally, the crypto in your account cannot be transferred to other accounts on or off PayPal."
No statement was provided as to whether it will be enabled in the future.
The community seems to be divided on this, since PayPal limits the use of the assets depriving them from their fundamental advantages for the average user. On the other hand, all exposure is good and de stigmatizes crypto.
I personally want cheap BTC and cheap ETH so I can stack MOAR.
Nevertheless it will be really interesting to see how this saga continues and what new reality we will be viewing towards crypto from now on.
Feels like that this is just the beginning of a cascade of new entries into the space by giants.
Nobody wants to be first BUT also nobody wants to be last.
Let’s wait and see