Comment on PayPal is Introducing a new crypto currency.
stu@lemmy.pit.ninja 1 year agoI’ll admit you bring up good points about it being potentially useful for facilitating the movement of money across borders (and potentially doing so more anonymously now) within the PayPal ecosystem with fewer fees, but it’s an unnecessary step for pretty much anything else within PayPal as far as I’m concerned. It’s also definitely a bad place to park money long term unless you like inflation eating away at your buying power.
I’m not sure what you mean about high fees with Bitcoin, though, are you talking about exchange fees from fiat to Bitcoin and vice versa? I rarely pay any fees simply moving Bitcoin around.
magic_lobster_party@kbin.social 1 year ago
Bitcoin has high fees if you’re moving Bitcoin between wallets within the blockchain. You don’t pay fees if you’re moving Bitcoin between wallets within the exchange, because those transactions aren’t registered to the blockchain. It’s essentially just registered into the exchanges internal spreadsheets.
stu@lemmy.pit.ninja 1 year ago
I literally almost never pay fees when moving Bitcoin between wallets on the Blockchain. Fees aren’t required unless you want your transaction expedited.