What are the core differences between bitcoin/crypto transactions and PayPal transactions?

[Min George]

Crypto as a payment method is seriously competing with PayPal. So many people have depended on PayPal for international remittances. But crypto has come in and provided another alternative.

What is the core differences between making payment with crypto and making payment with PayPal?

 

[gwolf666]

Hi, I think the main differences between paying with crypto and PayPal are quite significant. PayPal is a well-known and user-friendly platform with a centralized and regulated system, which provides users with a degree of security and trust. It also offers buyer protection and speed in both domestic and international transactions, provided both parties have an account on the platform. On the other hand, cryptocurrencies offer a decentralized method without intermediaries, which can reduce costs and processing times for international remittances. However, cryptocurrencies still experience price volatility, which can be risky if the market fluctuates significantly in the short term. Additionally, paying with crypto requires more technical knowledge and a digital wallet, while PayPal is more intuitive and accessible to most users. In short, both options have advantages and disadvantages, and the choice depends on the user's needs and level of confidence.

 

[Suba]

In fact, PayPal also has a crypto platform used by citizens of the United States, Germany, and the United Kingdom. This allows PayPal users to purchase goods using crypto, transfer funds, and receive them. However, there are differences, especially when compared to non-custodial crypto wallets, such as rules/regulations, transaction fees, speed, and global reach (not all countries can use PayPal), as well as anonymity and privacy.