CoinDesk | Why the PayPal Rally Isn’t What It Seems, and Why That’s OK
Noelle Acheson is Director of Research for CoinDesk, and author of the Crypto Long & Short newsletter. She holds bitcoin and

CoinDesk | Why the PayPal Rally Isn’t What It Seems, and Why That’s OK

He//o World... Welcome to Blockchain Announcements!

These days everyone talks about PayPal's crypto integration, which's amazing by the way, but then CoinDesk came with the article where Noelle Acheson, CoinDesk's director of research shows us the whole story from many other sides.

She says that "PayPal does bring over 340 million users to the crypto table. For context, Bitcoin currently has 32 million non-zero addresses (only 5 million of which are active), according to data firm Glassnode. But PayPal’s crypto users would not necessarily add to the address count, as they would not have access to their own private keys. What’s more, users will not be able to transfer their crypto holdings out of their PayPal account, nor will they be able to send crypto to other PayPal users. In other words, PayPal more or less dictates what users can do with their cryptocurrencies, and could presumably freeze accounts if they see fit, at least for now – not exactly in line with the industry’s origin and ethos."

There are a much bigger story with many different aspects, so, if you are interested in this topic, please;

The bigger you are, the bigger the splash when you jump in the water. And when it comes to mainstream payments companies, there are few bigger than PayPal.

Thanks for your priceless attention and have a good life!

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