Is Bitcoin a good alternative to PayPal?
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wallet, although you should confirm your identity before being able to use it.
- Regarding their stability, Bitcoin presents a higher price volatility which makes some customers hesitant to trade their cash for a cryptocurrency that fluctuates largely in value. Where PayPal, relying on fiat currency, guarantees constant rates during transactions.
- As online merchants, both payment systems have made considerable progress in integration. PayPal has offered in-house options for payment processing, while Bitcoins had the support of various startups that created platforms and developer kits for a seamless implementation on the merchant’s website.
- Their reputation, one reason PayPal have seen wider adoption is that it hasn’t really been heavily linked to illegal dealings the way Bitcoin did with Silk Road or, recently closed, AlphaBay. Cryptocurrency has to prove its legitimacy and security, but it is slowly consolidating its way up.