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BTC · 2w

For those who aren't aware, PayPal will not be buying, selling, or trading any actual Bitcoin. Their website clearly states this. A contractor's trust fund will simply use their own Bitcoin investments to cover PayPal customers' Bitcoin-tied bank balances.

This is what it says on their website: >All cryptocurrency custody and trading is performed for PayPal by its licensed service provider, Paxos Trust Company, LLC. You aren't getting a Bitcoin wallet, your buy/sell/spend won't be included on the ledger, and you are probably not even triggering any on-chain action in the long run either. Paxos Trust simply owns a fuck-ton of Bitcoin already (that's why it's called a trust), and will use that as collateral in case PayPal needs to pay out more US$ (and any other national/regional currencies its customers normally use) than it can handle with it's own internal holdings. ... (Whether or not it's useful to promote and use PayPal for Bitcoin-based investments is your personal choice. I'm just giving you the information about how the company is doing things.)
Go to self.Bitcoin
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