The Pros & Cons of PayPal & Venmo Selling Bitcoin - BBP95

from Beef and Bitcoin · host Beef Andbitcoin

Join CH as he discusses the recent news that PayPal and Venmo will enable their users to buy and sell bitcoin directly inside of the app.  There are pros and cons to "legacy FinTech" companies starting to interact with bitcoin. Over 300 million customers are now about to have access to bitcoin, but that also comes along with more custodian risk and more KYCed bitcoin.  Not all is lost though, as this will also help to increase the distribution of bitcoins to new users, so long as they can eventually take self-custody. https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling https://blockworksgroup.io/blog/bitcoin-will-turn-paypal-into-blockbuster

What this episode covers

Join CH as he discusses the recent news that PayPal and Venmo will enable their users to buy and sell bitcoin directly inside of the app. There are pros and cons to "legacy FinTech" companies starting to interact with bitcoin. Over 300 million customers are now about to have access to bitcoin, but that also comes along with more custodian risk and more KYCed bitcoin. Not all is lost though, as this will also help to increase the distribution of bitcoins to new users, so long as they can eventually take self-custody. https://www.coindesk.com/paypal-venmo-to-roll-out-crypto-buying-and-selling https://blockworksgroup.io/blog/bitcoin-will-turn-paypal-into-blockbuster

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The Pros & Cons of PayPal & Venmo Selling Bitcoin - BBP95

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This episode was published on June 27, 2020.

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