PayPal or Crypto – Your best choice in Ireland
In Ireland there is still no specific cryptocurrency law so it is interesting to understand what is the best option between paypal and crypto if you pass through the country.
PayPal or Crypto: the situation in Ireland
The decline in cash transactions in Ireland has put the focus back on digital paymentsthat’s why it’s interesting to understand what is the best option between paypal and crypto.
In fact, Ireland is one of those countries where there is still no specific regulation regarding cryptocurrencies and how to use them.
This has led to approx 10% of Irish adults own cryptoof which the three most popular are Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).
Of course with the long crypto winter, the number of cryptocurrency “holders” decreased slightly in 2022, compared to 2021.
PayPalon the other side, is a duly registered company in Ireland and is used without fear by those who have accounts on the platform.
Where to spend time in Ireland?
When choosing between PayPal and crypto-assets as a payment method, it is necessary to know where they can be used in the country.
And indeed, while crypto adoption is not as mainstream as PayPal, at the same time PayPal is known more for being a wallet that allows users to send money to other users or pay for goods and services online. So where is it possible to use PayPal or crypto?
Looking at CoinATMRadar data, there are 10 bitcoin and cryptocurrency ATMs in the city of Dublin alone. The presence of crypto ATMs will lead to users both buying crypto and withdrawing money by selling cryptocurrencies.
As for where BTC can be spent, it is possible to find one relatively limited selection of cafes, restaurants and other places to spend tokens.
Conversely, if you want to consider where to spend fiat money from your PayPal account, you can check on PayPal Ireland’s own website where you can pay with a QR code when shopping.
PayPal or Crypto: viable but different options
If you were in Ireland, the two digital payment options to Both PayPal and crypto can be used in a limited way.
This means that both PayPal and crypto are viable options which can help users traveling in Ireland.
At this point, to make a choice, it is possible to consider transaction fees where BTC and other cryptocurrencies may be lower than PayPal, or to consider the volatility of cryptocurrency prices.
Currently, PayPal has no viable competitorsalthough in early 2023, a new bank wallet it was announced Wells Fargo works with, together with its partners. The new wallet will be managed by Early Warning Services (EWS)a company owned by the bank itself that operates the money transfer service Zelle.
The aim of this wallet is to precisely competes with PayPal and Apple Pay, as the banks fear losing control over their customer relationships.
