Now PayPal also opposes cryptocurrencies
After the billionaire, venture capitalist and co-founder Peter Thiel had recently expressed his support for Bitcoin, the tide seems to be turning. The company may see things differently and now seems to be taking action against Bitcoin & Co. But don't be surprised, because cryptocurrencies are a direct competitor.
PayPal refuses to pay out money from cryptocurrencies
Yesterday I received a newsletter from AnyCoinDirect, a platform for buying and selling cryptocurrencies from the Netherlands similar to Coinbase and like most newsletters I hardly pay any attention to it. Just now, however, I took a look into it and found this paragraph:
Translated to English
From now on, it is no longer possible to sell crypto currencies and have the money transferred to a PayPal account. We have been communicating with PayPal for weeks after they suddenly stopped their service with us, and they finally managed to give us an update. They have indicated that we can no longer use their services as they are used for the sale of crypto currencies. This development is a pity, but unfortunately we cannot do anything to change this decision.
Tldr; PayPal refuses to accept money from cryptocurrencies.
What do you think of the new guidelines? Have you also heard of similar cases or does it seem to be an isolated case?
I agree that Paypal (along with Facebook and others) are feeling threatened by the power and popularity of cryptocurrencies. In Paypal's case, as you said, it's competition - but really Paypal paved the way for cryptocurrency to work as a concept. But they might have grown too big now and have made the mistake of being unfriendly towards bitcoin and the like. Thanks for the article.
Thanks for the answer, I couldn't have put it better.
Soon they will followed crytpcurrency payment because crypto is the future and everyone will accept it as crypto world make more strong. Lets see what will happens in future.