So apparently you won't be able to purchase actual crypto nor withdraw it from your PayPal account. When asked Can I transfer crypto into and out of PayPal? They gave the following answer: Currently you can only hold the cryptocurrencies that you buy on PayPal in your account. Additionally, the crypto in your account cannot be transfered to other accounts on or off PayPal (link to the source in the comments).So correct me if I'm wrong, but as I see it, you wont get an actual btc for 12,7 K USD (atm) in your PayPal account. Those are only going to be empty numbers supposedly backed by crypto at their custodial. Sort of on the contrary to what Tether is doing (just this time it might actually be backed, lol). So if you buy something for half a bitcoin, they'll sell that btc from their custodial, and will change the numbers of you btc balance lolThen of course you can't transfer those outside their network, nor trade it for other crypto on PayPal.While it is still very early, and they'll probably expand the functionalities incrementally, being the big corp, they should have communicated way clearer. What's your take on that?
Submitted October 21, 2020 at 09:49PM
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