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Buy Cloud Mining with PayPal​

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In this article we will go through how you can buy cloud mining with PayPal. Currently, there are no cloud mining providers that accept PayPal as direct payment method. However, there are several peer-to-peer marketplaces where people accept PayPal for their Bitcoin. We present LocalBitcoins and Paxful. The article reviews their verification requirements, fees, regional availability. We also compare the PayPal with other payment options, such as bank wire transfers and credit cards. 

If you already have Bitcoins and want a cloud mining contract we recommend you to read legit cloud mining companies in 2020.

Buying Contracts with PayPal

Unlike with credit cards and wire transfers, it is quite difficult to get contracts from cloud mining providers sing PayPal. Even regular exchanges do not offer the method as often as other two options. The reason for such development lies in the fact that PayPal does not allow transactions that involve the exchange of currencies. Since bitcoin and other cryptos are viewed as one, the platform would ban the accounts dung the transfer.  

 

PayPal also charges relatively high fees of 2.9% + $0.3 for each transaction, making it quite expensive. Compared to credit cards (up to 1.9%) and bank transfers (1%), PayPal is the most costly option. That is why many platforms, cloud mining companies included, bypass the method, even though it is quite popular.

 

So, if there are no cloud mining providers accepting PayPal as a payment method, what should investors do? You can buy contracts indirectly, by purchasing bitcoins first using PayPal and then use them to get contracts. We go over several of the most popular options in the industry, them being LocalBitcoins and Paxful.

LocalBitcoins​

LocalBitcoins is a peer-to-peer (P2P) platform that allows users to buy and sell bitcoins between each other. Acting as a single marketplace, you can work with bitcoins only in this website as other altcoins can be used only a medium for BTC payment.

 

If you are looking for a way to get Ethereum for cloud contracts, then LocalBitcoins should not be your choice. Bitcoin traders have 1% fee for escrow services, which we recommend wholeheartedly due to numerous scams reported in the past. Verification depends on your personal preferences, while the speed of transactions relies on seller’s adherence to trade agreement.

 

The service is available globally, with anyone able to set buy and sell ads, as seen in the snapshot below.

Buy Cloud Mining with PayPal LocalBitcoins buy and sell services

PayPal is a popular option to receive funds in several countries, USA especially. Thus, there is no lack of supply when it comes to PayPal option at LocalBitcoins.

Paxful​

Paxful is a crypto exchange platform that has many similarities with LocalBitcoins. The platform offers bitcoins only through many payment methods, PayPal included. Traders from around the globe buy and sell cryptos from each other, bypassing middleman in the process. The fee structure is similar to LocalBitcoins with the only difference being that 1% is paid by sellers only.

 

Verification demands are left to buyers and sellers to agree on thought the platform itself does not offer identity checks. For each trade, you might be required to provide a scanned copy of your ID. You can check these requirements by sifting through different ads, as seen below.

Buy Cloud Mining with PayPal Paxful ID requirements

Usually, a small amount of coins is available on individual ads while differences in price can vary greatly. PayPal is a popular option but also more costly than bank transfers for example.

Platforms that Accept PayPal​

At this very moment, there are no cloud mining providers that offer PayPal as a method of program purchase. Well, those that are reliable anyway, as we would recommend only those platforms that have proven history.

 

Genesis Mining, Hashflare, and hashing24 all do not offer PayPal due to the large fees and lack of support by the payment system for cryptocurrencies. You need to undergo indirectly while using the PayPal, meaning more costs on your end. Credit cards and bank transfers are more present in the industry.

Step-by-Step Guide ​

In this guide, we provide you with step-by-step guide on how to purchase bitcoins using PayPal at Paxful platform. Registering an account at this website is usual business – it takes less than 5 minutes with only email needed for verification.

Then, login and select PayPal as a payment method as shown in picture below. Specify the amount and price of bitcoins you wish to purchase. Once done, click “Buy bitcoin now” to start the process.

Buy Cloud Mining with PayPal step by step

You will get a list of available offers in the market, with best deals listed at the top of the page. Select the ad that suits your needs in terms of BTC price and available volume for purchase.

Buy Cloud Mining with PayPal open offers

You will get a list of available offers in the market, with best deals listed at the top of the page. Select the ad that suits your needs in terms of BTC price and available volume for purchase.

Buy Cloud Mining with PayPal buy now

In the case of PayPal, seller would then simply provide you with their PayPal account’s ID on which you should send money. Once done, make screenshot of the payment confirmation as a proof of purchase. Seller would then release bitcoins through escrow service provide by Paxful.

Conclusion​

Overall, in this cloud mining PayPal review, we touched upon fees and platforms that accept the method of payment. We deem PayPal as the least favorable when compared to credit cards and bank transfers. Many sites that have been proven as scams use the method. Legit cloud mining platforms, on the other hand, avoid it due to its high fee structure.

The post Buy Cloud Mining with PayPal​ appeared first on Cryptocoinzone.

Source: https://www.cryptocoinzone.com/cloud-mining/buy-cloud-mining-with-paypal%e2%80%8b/

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Profit taking Bitcoin miners won’t stop the next bull run: On-chain analyst

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Historical data shows that some miners began to sell Bitcoin (BTC) at the end of July, leading to increased selling pressure in the cryptocurrency market.

Eventually, the dominant cryptocurrency fell steeply from mid-August, recording a 13% fall and since then BTC has struggled to retake the $12K mark.

Bitcoin selling by miners from 2017-2020. Source: CryptoQuant

Bitcoin selling by miners from 2017-2020. Source: CryptoQuant

According to CryptoQuant CEO Ki Young Ju, continued selling by miners might not be enough to prevent a bull run. On-chain data analysis firms closely observe the movements of miners and whales because they hold significant amounts of BTC.

Willy Woo, an on-chain analyst, explained that miners represent one of the two external sources of selling pressure for Bitcoin. He previously said:

“There’s only two unmatched sell pressures on the market. (1) Miners who dilute the supply and sell onto the market, this is the hidden tax via monetary inflation. And (2) the exchanges who tax the traders and sell onto the market.”

When miners start selling their Bitcoin holdings, typically to cover expenses, it could trigger a correction in the cryptocurrency market.

For instance, From Aug. 17 to Sept. 5, the price of Bitcoin dropped from $12,486 to $9,813. During that time, several whales sold Bitcoin right at $12,000 and the same behaviour was observed amongst miners.

The selling pressure coming from miners and whales noticeably has been attributed to the current crypto market slump but in the longer term, Ki explained it is not enough to stop a prolonged bull run.

If miners abruptly sell a significant amount of BTC, it could cause a severe correction as a small price movement could trigger liquidations from heavily-leveraged traders. Hence, even a relatively small sell-off by miners could theoretically cause massive price swings.

Ki says the intensity of the sell-off from miners was not strong enough to halt future bull runs. He said:

“Miner Update: Some miners began selling at the end of July, but I think in the long-run, miners didn’t sell BTC large enough to stop the next bull-run.”

According to ByteTree, the net inventory of Bitcoin miners declined by 125 BTC per week in the last 12 weeks. The data indicates that miners sold approximately $1.362 million BTC per week week atop the BTC that they mined and sold.

Amount of BTC mined and sold in the last 12 weeks. Source: ByteTree​​​​​​​

Amount of BTC mined and sold in the last 12 weeks. Source: ByteTree

As Ki emphasized, the data shows that miners sold substantial amounts of BTC, but not in amounts that were irregular to normal behaviour.

Post-halving bull cycle remains a possibility

Bitcoin is still hovering above the critical $10,000 technical support level despite multiple attempts by bears to drop the price below the key level.

The resilience of Bitcoin amidst a heightened level of selling pressure suggests a cautiously bullish trend in the long term.

The Bitcoin short-term holder NUPL. Source: Glassnode

The Bitcoin short-term holder NUPL. Source: Glassnode

Several on-chain metrics also indicate that now is a healthy accumulation phase for Bitcoin. Rafael Schultze-Kraft, the CTO at Glassnode, said:

“Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) with a #bullish signal here imo. That bounce of the 0-line was important, is very characteristic for previous bull markets, and historically a good buying opportunity.”

Source: https://cointelegraph.com/news/profit-taking-bitcoin-miners-wont-stop-the-next-bull-run-on-chain-analyst

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Crypto exchange bitFlyer Europe links up with PayPal, enabling account deposits with euros

Crypto exchange bitFlyer Europe has announced integration with PayPal, allowing users to deposit funds using their PayPal accounts to buy cryptocurrencies.

The post Crypto exchange bitFlyer Europe links up with PayPal, enabling account deposits with euros appeared first on The Block.

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Crypto exchange bitFlyer Europe links up with PayPal, enabling account deposits with euros – The Block















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Even after parabolic rally, top crypto VC thinks Ethereum DeFi isn’t overvalued

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It’s clear excess and euphoria is starting to seep into Ethereum’s DeFi space. Uniswap nearly reached a $1 billion circulating market capitalization just two days after its launch, a food coin called Pickle surged 1,000 percent in a day, and Yearn.finance (YFI) has gained over 1,000,000 percent since its July launch, to name just a few trends.

To put this into more broad and absolute terms, there is now $10 billion locked in mainstream DeFi contracts according to DeFi Pulse. At the start of the year, this single metric was extremely close to $500 million.

Even after all this, there may be reasons to believe that decentralized finance is not yet overvalued on a longer-term time frame.

Is Ethereum’s DeFi space really overvalued yet? A top investor is not too sure it is

After DeFi coins doubled and tripled within the span of a few weeks in June, Mechanism Capital founder Andrew Kang came out with a Twitter thread outlining his thoughts on DeFi’s trend of growth.

As this outlet covered at the time, he was not then convinced that this crypto market segment had reached a top, going as far as to say that it was in the early stages of a parabolic growth cycle.

Kang was proven correct in the two months that followed, as coins in the space continued to double and triple and rally higher on even bigger multiples.

He is now back again, having been proved correct, and he’s saying that there is still space for DeFi to grow.

On Sep. 19, he wrote:

“TVL in DeFi is up ~20x since 2019 and DeFi market cap is up a similar amount. I don’t think price has seriously outpaced fundamentals yet. Seems low EV to cashout for a short trade and potentially miss out on parabolic growth.”

Kang added that realistically, it may only take $50 million worth of new capital to drive this space up by 10% or even more.

With much capital entering the DeFi space as institutional investors get excited, growth may continue in the medium to long term.

Certain factors could drive this market lower

While DeFi may not be overvalued, there may be some trends that can trigger a further short-term correction after the already 10-30 percent drop that has transpired in this segment of the crypto market.

As reported by CryptoSlate, crypto analyst “Theta Seek” commented that there are three crucial reasons why DeFi’s growth may be reaching a plateau for the time being. These include but are not limited to:

  • Risk of funds caused by poor user experiences and tools
  • A slowdown in the value of capital and interest entering the space
  • Regulatory pressure as regulators eye the vast amounts of capital sloshing around in DeFi, along with the hacks.

It may just be that investors are sitting on the sidelines and are not advancing into this space due to the aforementioned risks and issues such as poor user experiences and potential regulatory pressure.

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Source: https://cryptoslate.com/even-after-parabolic-rally-top-crypto-vc-thinks-ethereum-defi-isnt-overvalued/

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