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Buying Bitcoin (BTC) on PayPal Makes No sense If One cannot withdraw It

One of the users of PayPal stated, initially, I was able to purchase small amounts of crypto through PayPal and then it seems that security issues were put on the account and now I’m not able to buy I called PayPal they had no idea why and were no help account still is restricted from buying crypto.

PayPal tweeted:  “We are pleased to announce that starting today, all of our eligible US customers can now buy, hold and sell cryptocurrency directly from their PayPal accounts.  We’ve also increased our weekly purchase limit to $20K.”

Paypal Offers $BTC, $ETH, $LTC and $BCH for US

When Canada? When Europe? And lot of When to different countries is a matter of concern!  PayPal does not offer these services in some countries. Users might have to verify of the terms applicable for their country.

The big deal about PayPal providing these cryptocurrencies like $BTC, $ETH, $LTC and $BCH is that they are to back every single coin at the same amount and currency as they sell it to customers.

In this regard, Sydney Ifergan, the crypto expert tweeted:  “For whatever reason PayPal and crypto is a sign that crypto is taking over.  It is not about whether BTC, ETH, LTC or others. Just the Crypto is in and very soon it will be for worldwide.”

Paypal $BTC, $ETH, $LTC and $BCH Not Useful for Daily Purchase

Some customers have to state that they are reporting burden and therefore it is not possible to use crypto for daily purchases.

Several Paypal users are excited about the current offer.  They have to state that they have been customers for many years and that they are so proud that PayPal has taken this leap. It just looks like Paypal have attended to the needs of customers.

One of the users reported how in the past PayPal banned him for selling crypto crap and on how now they are selling crypto.

Paypal $BTC Cannot Withdraw

Someone who wished some transparency opined, it would be of great interest if PayPal would share with the market the volume of Bitcoin sales users accumulated in the first week of bringing this service to the masses.

One of the users asked, Can a Paypal user withdraw their Bitcoin they bought in Paypal into their own private wallets?  The reply was that it will never be, as Paypal is not an exchange and you don‘t buy real tokens there, just contracts.

Despite all, users feel this is a huge step forward for increasing accessibility to $BTC. However, users feel that Buying Bitcoin with Paypal can be useless if it is not possible to withdraw it.

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