I feel like it's weird to say that Paypal is allowing their users to spend crypto, considering you can't deposit or withdraw crypto from the platform. Even if they quote "didn't allow that" it would just require one extra step of selling the crypto for fiat first. In fact, this is actually what's happening in the background: PayPal is just doing it for us behind the scenes and eliminating that step for the frontend-user.
It kinda just seems like a marketing ploy to keep PayPal relevant.
Tell people you can spend crypto now to draw capital to the platform.
But I guess that's just how capitalism works.
@edicted you have said it all sir...
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Couldn't agree more, they are obviously just trying to grab a piece of the pie. At first I thought they were either trying to get their hands on some ''cheap'' crypto by ripping their customers off with fees, which would translate into moar crypto for them than what they paid for, or this was just a publicity stunt on their behalf. Or both.
This is a very bizarre way of offering crypto services, isn't it?
That's the worst part. This makes it more than obvious that it's just a marketing ploy. Some would argue they are doing it to tackle any tax problems that may arise due to different legal approaches from country to country, but the service is only available in the U.S. for now. So I don't really get it.
As you said, it's all about profit.
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