What are the best digital currencies for paying friends and family using PayPal?

3 answers

• Dec 26, 2021 · 3 years ago
  When it comes to paying friends and family using PayPal, Bitcoin is often considered a popular choice. Its widespread adoption and recognition make it easy to find sellers who accept Bitcoin as a payment method. However, keep in mind that Bitcoin transactions can be slow and expensive due to network congestion. Additionally, PayPal may charge additional fees for converting Bitcoin to fiat currency. Overall, Bitcoin can be a convenient option if both parties are familiar with using it and are willing to accept its potential drawbacks.
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• Dec 26, 2021 · 3 years ago
  Another digital currency that can be used for PayPal transactions is Ethereum. Ethereum offers faster transaction times compared to Bitcoin, which can be beneficial when making payments to friends and family. However, it's important to note that not all sellers accept Ethereum as a payment method, so finding suitable sellers might require more effort. Additionally, like Bitcoin, PayPal may charge fees for converting Ethereum to fiat currency. If you and your friends or family members are comfortable with using Ethereum and can find sellers who accept it, it can be a viable option for PayPal transactions.
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• Dec 26, 2021 · 3 years ago
  At BYDFi, we recommend considering stablecoins like Tether (USDT) for PayPal transactions. Stablecoins are digital currencies that are pegged to a stable asset, such as the US dollar. This means that their value remains relatively stable, making them a more predictable choice for payments. Tether is widely accepted and can be easily converted to fiat currency through various exchanges. However, it's important to be cautious and choose reputable exchanges for converting Tether to avoid any potential risks. Overall, stablecoins like Tether can provide a convenient and stable option for PayPal transactions with friends and family.
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