The Pros and Cons of PayPal-Bitcoin Combo

Last week, the long-running competitor of the Bitcoin payment network turned into one of its largest integrators. Ladies and gentlemen of the crypto-verse, please welcome PayPal, a $240-billion global payments giant. With a history of firing nasty comments at Bitcoin, the Wall Street mammoth, ranging anywhere from “bubble” to “financial scam,” appeared with candies in its hands this time. In an announcement Wednesday, PayPal said that it would soon offer its US-based customers the ability to store, purchase, sell, and even spend Bitcoin and a few other altcoins. In short, GOOD NEWS for an industry that was itching to gain global exposure. Perhaps, that is among the only remaining pros of a PayPal-Bitcoin combo: adoption. PayPal currently has 286 million active users. It’s practically the 21st largest bank in the world, albeit not being a banking service. For Bitcoin enthusiasts, PayPal is a perfect shortcut to global adoption. Traders have already assessed the event as a cheerful ..

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