{"id":45992,"date":"2025-02-19T17:29:19","date_gmt":"2025-02-19T17:29:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=45992"},"modified":"2025-02-19T17:29:19","modified_gmt":"2025-02-19T17:29:19","slug":"why-paypal-is-the-worst-place-to-buy-crypto","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=45992","title":{"rendered":"Why PayPal is the Worst Place to Buy Crypto"},"content":{"rendered":"

PayPal is easily the worst place to buy crypto. <\/span>And here at 99Bitcoins, we\u2019re here to guide you, inform you, and ensure you don\u2019t miss out on the greatest invention<\/a> since the internet. THE FOMO IS REAL!<\/span><\/p>\n

Buying BTC Back in the Day<\/h2>\n

Do you ever wonder how you got Bitcoin back in the early days?<\/span><\/p>\n

Bankrupt exchanges like Mt. Gox, Tradehill, and BitInstant were the first to offer Bitcoin purchases in 2011. But before that, you didn\u2019t get Bitcoin unless you mined, donated, or traded it (or were paid in it for delivering pizza). <\/span>Some eSports even gave out Bitcoin to 5th-8th place finishers<\/a> as a joke in those early days.<\/span>\u00a0<\/span><\/p>\n

(Source<\/a>)<\/p>\n

Fast forward four years later, and we\u2019re at the next stage in the crypto-investing evolutionary cycle: Fintech, specifically, PayPal. However, to say PayPal missed the mark with crypto would be a gross understatement. Let\u2019s explain.<\/span><\/p>\n

PayPal: A Disappointing Entry\u00a0<\/h2>\n

When the American payment giant PayPal originally announced its plans to enable users to buy crypto in 2020, the blockchain community roared.<\/span><\/p>\n

Now that all the dust has settled, PayPal\u2019s approach to crypto adoption can be considered very underwhelming, if not outright disappointing, and dangerous to new investors for one simple reason: PayPal doesn\u2019t allow you actually to own Bitcoin.<\/p>\n

Elon Musk and Peter Thiel unveil PayPal , 1990s. pic.twitter.com\/2tdBgwIkko<\/a><\/p>\n

\u2014 Historic Footage (@historicfootage) February 17, 2025<\/a><\/p>\n\n

One of the crypto community\u2019s most important mottos is \u201cnot your keys, not your coins.\u201d We can\u2019t stress this statement enough! <\/span>PayPal doesn\u2019t give you private crypto keys. <\/span><\/p>\n

So you can\u2019t even send your tokens to your digital wallet<\/a>.<\/span><\/p>\n

In other words, you\u2019re investing in the value of cryptocurrency like you would through Robinhood, Venmo, Cashapp, or Webull. <\/span>A crypto balance is displayed on your account, but you don\u2019t own any tokens. That\u2019s the whole point of crypto: to empower the people!<\/span><\/p>\n

This begs the question: what can you do with the Bitcoin bought on PayPal? Well, you can look at your Bitcoin balance. You can exchange it for fiat money. You can use it to make \u201c<\/span>select<\/span><\/a>\u201d purchases online. <\/span>That\u2019s about it.<\/span><\/p>\n

Buy Bitcoin With PayPal: Just Don\u2019t Do It<\/h2>\n

All things considered, PayPal\u2019s announcement that it will \u201csupport crypto\u201d seems more like a marketing move.<\/span><\/p>\n

While all of this might change in the future, for now, PayPal gets an <\/span>F+<\/span> from us for its crypto rollout. All it does is provide the illusion of actually owning Bitcoin.\u00a0<\/span><\/p>\n

\u201c<\/span>It might make sense just to get some in case it catches on<\/span>.<\/span>\u201d <\/span>\u2014 <\/span>Satoshi Nakamoto<\/span><\/p>\n

EXPLORE:\u00a0XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress<\/a><\/strong><\/p>\n

Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n

The post Why PayPal is the Worst Place to Buy Crypto<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

PayPal is easily the worst place to buy crypto. And here at 99Bitcoins, we\u2019re here to guide you, inform you, and ensure you don\u2019t miss out on the greatest invention since the internet. THE FOMO IS REAL! Buying BTC Back in the Day Do you ever wonder how you got Bitcoin back in the early […]<\/p>\n","protected":false},"author":0,"featured_media":45993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45992"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45992"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/45993"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}