PayPal to branch Bitcoin buy/sell service out to the UK but still WON'T allow customers Withdraw Bitcoin to Wallets.
It's rather odd to see them prioritize pushing out their service out to the UK when the most important feature is yet to be implemented. The ability to withdraw Bitcoin into cold storage but self custody seem to be on the lowest of their priority.
I've heard rumors of their plan to allow merchants to accept Bitcoin but with will keep it and pay the fiat exchange rate to the merchants. I wouldn't be posting this thread if more people talked about this, but so far I've witness very few criticism of Paypals actions. Why would a feature of this size be seen as less important than giving people nothing beyond "exposure" and letting them sell it. Cashapp who's a much smaller company in size allows you to buy, sell and now withdraw your Bitcoin, theres a daily limit but it's an option that Paypal doesn't think is important to people buying it.
My grip with that company is not the same as many others who now realized their mistake of buying Bitcoin on their app before understanding Bitcoin. My issue is the fact that I'm stuck with Coinbase, while they allow you to withdraw your Bitcoin into a wallet, that particular exchange comes with a host of problems that I'm sure we're all familiar with. I couldn't use my account for 2 whole months before getting a real human to talk to and review my account. Terrible customer service. Bad transaction fees. KYC was nightmare and now that my only form of ID is expired, I'm left with them.
PayPal can not only mitigate these issues with the convenience it provides the millions of KYC approved clients who already registered to their service, they also easily speed up adoption rate because of this fact alone. So don't see what's keeping them from letting people have the option of actually owning their Bitcoin.
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