Bitcoin vs PayPal
Last updated: June 28, 2018
Open source P2P money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as cheques and money orders. PayPal is the faster, safer way to send money, make an online payment, receive money or set up a merchant account.
Face to face in the news:
2014 - PayPal allows merchants selling digital goods to accept Bitcoin
Earlier this month PayPal announced that its subsidiary unit, Braintree, will accept bitcoin via integration with Coinbase. And today PayPal is dipping its toes even more into the world of bitcoin. PayPal has entered into agreements with leading Bitcoin payment processors BitPay, Coinbase and GoCoin. Starting today, these agreements let PayPal digital goods merchants accept Bitcoin with a simple integration through the PayPal Payments Hub. This will be available to merchants in North America first. Though users still won’t be able to start stashing their bitcoin in their PayPal accounts, the news had an immediate impact on Bitcoin price - it now stands at around $450 - up more than 10%.
2014 - Dell becomes the largest company that accepts Bitcoin. Beware PayPal
PC maker Dell is to begin accepting payments via Bitcoin for products purchased on its website. Moreover, there would be a 10 per cent discount on certain products if purchased with the cryptocurrency. Coinbase, one of the major bitcoin payments processors, landed the business. Customers who chose bitcoin as their payment method when on Dell’s website will be sent over to Coinbase’s site to complete the purchase, a fairly common procedure. For bitcoin, it’s one of the biggest signs yet of mainstream acceptance. With nearly $57 billion in sales in 2013, Dell would be by far the largest company to take bitcoin.