Crypto vs paypal

[sincerem]

CRYPTO PAYMENT VS PAYPAL PAYMENT OPTION WHICH ONE DO YOU PREFER?

Paypal have been for a while now, and crypto is trying to settle and gain viral acceptance. At the meantime, it seems that, some countries aren't wowing crypto integration with open arms. Their is still some doubts lingering in their heart.


Crypto payment option have really helped lots of people to receive their earnings made online to hit in their local bank accounts. Had it been that crypto wasn't in existence, majority of people working online wouldn't have been online to earn money. Crypto made it possible to earn money online for those majority coming from the lower tier countries.

Paypal have its own positive, by given it's users security over their treasury asset saved in their banking institution. And they also have the charge back option, meaning if a merchant isn't pleased with the work carried out by an employee or business client, he or she can issue a chargeback demand and paypal makes sure it is delivered. That provides unique user experience, and high trust rating around paypal.

Between crypto payment option and paypal payment option, which one do you prefer??

 

[Razor1911]

Crypto though has become so popular lateley, but I would say paypal is still the better option. When you transact through bitcoin, the fees that you have to pay is very high. Otherwise your transaction will never get confirmed. Where as paypal has no such issues because the transaction is complete almost instantly and the money is sent directly to the wallet.

 

[Finger Geek]

Oh! That's a pretty exorbitant transaction fees there and that does not sound like a good option to use for transacting small amounts. That should be okay if the amount transacted is big or decent. Then a small transaction fees will not hurt much.
And I was not aware that they can block any account anc claim the person's money. That would be unfair. But then they should have a solid reason to block someone's account. The person would have done something wrong or violated the rules of the site knowingly or unknowingly. PayPal is pretty old and has been in market successfully. So they hold a credibility.

Yes that is another problem they have. I once had a PayPal account with up to $5 in it before. So one day I tried to login to the account, but unfortunately for me I couldn't login. It was telling me that my account has been temporarily suspended. That is how they took my money. And I have also seen many people also complained about PayPal. I prefer perfect money to PayPal.

 

[sincerem]

I can't say I have a favorite between these two because I use both of them. PayPal is nice because it's fast and you can receive and send money to almost everywhere and you can also withdraw your money directly to your bank account. Crypto, especially coins like bitcoin can take a longer time for transactions to be confirmed and also the fees can be very high (like 20$+ for a transaction). But the advantage of crypto is that you can make money from just keeping it in your wallet instead of selling it.

Well stated comments. Crypto in the other hand maybe higher in gas fee when you choose ETH or BTC as your preferred coins for transaction. But if you make use of BCH, LTC, TRX, DOGE etc lower coins, the transaction fees falls down to almost zero base on the exchanger/wallet you make use of. I don't use paypal cos paypal doesn't grant us access here in our demographic.

 

[Vladv26]

I can't say I have a favorite between these two because I use both of them. PayPal is nice because it's fast and you can receive and send money to almost everywhere and you can also withdraw your money directly to your bank account. Crypto, especially coins like bitcoin can take a longer time for transactions to be confirmed and also the fees can be very high (like 20$+ for a transaction). But the advantage of crypto is that you can make money from just keeping it in your wallet instead of selling it.

 

[sincerem]

Litecoin has low fees, I guess bitcoin cash also has low fees, but most of the popular crypto currencies have high fees. Fo example, bitcoin and ethereum have very high fees. I was once paid $90 worth of bitcoin by an ad network, sadly, I ended up giving away $30 just as a transaction fees. Even when you are swaping currencies, you pay high fees.

Yes, BCH and LTC are just similar when it comes to transaction processes. They charge very low to zero gas fee when sending from recognise wallet/exchange site to another. If you make use of binance and you're converting your coin to another, be it BTC or ETH you're swapping to, the gas fee for that isn't more than 0.1%-1% charges.

 

[arunima25]

You are very right. PayPal transaction fees is very high. Imagine me, want to send $1 to someone and the transaction fees is up to that $1. And they have many rules that they will eventually block someone's account and claim the person's money.
But using crypto currency on an offline wallet. You are the bank of your self. You control the coin inside yourself. Crypto is far better than PayPal

Oh! That's a pretty exorbitant transaction fees there and that does not sound like a good option to use for transacting small amounts. That should be okay if the amount transacted is big or decent. Then a small transaction fees will not hurt much.
And I was not aware that they can block any account anc claim the person's money. That would be unfair. But then they should have a solid reason to block someone's account. The person would have done something wrong or violated the rules of the site knowingly or unknowingly. PayPal is pretty old and has been in market successfully. So they hold a credibility.

 

[Mika]

Crypto transaction fees isn't high like PayPal's type especially when you're making use of lower coins for the transaction. I'll agree with you on the option of investing on crypto when it comes to building up with your portfolio and not mainly for the funds to pay bills or other purposes offline or online.

Litecoin has low fees, I guess bitcoin cash also has low fees, but most of the popular crypto currencies have high fees. Fo example, bitcoin and ethereum have very high fees. I was once paid $90 worth of bitcoin by an ad network, sadly, I ended up giving away $30 just as a transaction fees. Even when you are swaping currencies, you pay high fees.

 

[sincerem]

if I would withdraw my online earnings into crypto then the money will go to my digital wallet. Right now, I am sure that the fee is smaller in the digital wallet than Paypal. But what happens if the crypto in my wallet suddenly would fall in price? it is silly to withdraw $5 in cash from my digital wallet, that is a very small amount.

Is it only $5 which is allowed as max to be withdrawn from your preferred digital wallet?? Here in my own preferred exchanger, i can withdraw very high amount of funds provided i want. I don't get charged higher amount of money trying to withdraw my coins. When i receive my earnings from the earning sites, if i want to withdraw it, I'll simply transfer it to P2P account then sell it off. If i want to save the value to remain the same and avoid fluctuations, i covert to stable coins.

 

[Finger Geek]

PayPal charges are definitely too high and that can be one discouraging factor. PayPal has many rules but most of them are for the good of the users and to make the account more safe and secure. Those who have earned knowledge of cryptocurrency can make good use there and have transactions without high transaction fees like PayPal.

You are very right. PayPal transaction fees is very high. Imagine me, want to send $1 to someone and the transaction fees is up to that $1. And they have many rules that they will eventually block someone's account and claim the person's money.
But using crypto currency on an offline wallet. You are the bank of your self. You control the coin inside yourself. Crypto is far better than PayPal

 

[Alexandoy]

if I would withdraw my online earnings into crypto then the money will go to my digital wallet. Right now, I am sure that the fee is smaller in the digital wallet than Paypal. But what happens if the crypto in my wallet suddenly would fall in price? it is silly to withdraw $5 in cash from my digital wallet, that is a very small amount.

 

[sincerem]

Crypto though has become so popular lateley, but I would say paypal is still the better option. When you transact through bitcoin, the fees that you have to pay is very high. Otherwise your transaction will never get confirmed. Where as paypal has no such issues because the transaction is complete almost instantly and the money is sent directly to the wallet.

If you make use of binance, you won't grow frustrated of such a high gas fee around Bitcoin. You don't need to withdraw using Bitcoin, for lower gas fee, you should make use of lower coins like LTC, BCH, DOGE, TRX etc. They are good for withdrawing to external wallets to avoid high gas fee, all you will do is convert your BTC to any of them.

 

[sincerem]

Depends on what I am doing with the money. If I am withdrawing the money and using it to pay my bills, I will prefer paypal payment. However, if I want to build my crypto portfolio, I will use crypto currency. using crypto currency for receiving payment that you would be withdrawing can end up in loss as you will have to pay for transaction fees

Crypto transaction fees isn't high like PayPal's type especially when you're making use of lower coins for the transaction. I'll agree with you on the option of investing on crypto when it comes to building up with your portfolio and not mainly for the funds to pay bills or other purposes offline or online.

 

[Mika]

Depends on what I am doing with the money. If I am withdrawing the money and using it to pay my bills, I will prefer paypal payment. However, if I want to build my crypto portfolio, I will use crypto currency. using crypto currency for receiving payment that you would be withdrawing can end up in loss as you will have to pay for transaction fees

 

[sincerem]

Yes, you gave a resounding and wise message around the two payment gateway online. They all have their own shortcomings, and also have their own merits which made lots of people to hang around them for transactions. Since crypto is generally accepted for access, but PayPal is limited and its transaction fee is higher than crypto. Through lower coins you can reduce gas fee when it comes to payment using crypto.

 

[arunima25]

PayPal charges are definitely too high and that can be one discouraging factor. PayPal has many rules but most of them are for the good of the users and to make the account more safe and secure. Those who have earned knowledge of cryptocurrency can make good use there and have transactions without high transaction fees like PayPal.

 

[sincerem]

Paypal just have too many rules, crypto has many coins which you can easily transact with. Sell, using different option with lesser charges when you make use of the lower coins, and see your funds hit into your local bank account no stress. Until payment charges some of its rules, and give access to other countries before I'll give them 100% rating, as for now, I'll upvote them by 60%, crypto 70%.

 

[Mataracy]

Between cryptocurrency payment and Paypal payment I see PayPal payments more better and safe this is because when you are paid with cryptocurrency, if you don't sell out your cryptocurrency you will not be able to use your money, or sometimes your cryptocurrency might depreciate before selling out. but once you are paid with PayPal you can start using your money immediately and it does not increase or decrease it unlike cryptocurrency.

I think both crytocurrency and PayPal has there own positive and negative aspect.
The positive aspect is that when you save your money in PayPal now they will not allow you to withdraw now especially when the government has place embargo on it.
But cryto currency allow to sell your coin especially this time that paypal do not allow you to send to your local Account directly.

 

[sincerem]

I understand that paypal isn't volatile like crypto. But remember that paypal also charges exorbitant charges for each transaction you make. Even when you receive funds from merchant, you'll still be charged. In crypto, i understand that the coins are volatile. But if you make use of lower coins like LTC, BCH, TRX, DOGE etc, the transaction fee will almost be zero. And you can convert to stable coin immediately, and save your funds from going down in value, if you fear that it will go down due to fluctuations.

 

[arunima25]

I have no experience with cryptocurrency as it was never legal in India and even if you earned it you had to exchange it for fiat currency. That was one reason I never tried to explore more about cryptocurrency. I have a PayPal account for more than a decade now. Earlier we could hold our money there, but now with new rules in our country, we can not keep our money there in PayPal account. As soon as we get the money in our PayPal account it is automatically transferred to our bank account.
I have no experience with cryptocurrency but what I understand is that PayPal is a safer choice. It is not volatile like cryptocurrency and so the risk involved is not there. Cryptocurrency involves some risk all the time.