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Best 5 PayPal Alternatives In 2019

PayPal is the most popular online platform at the moment, but if you are looking for small scale business transactions with a cheaper fee and usability​, there are other alternatives. We put together a list of 5 faster, more convenient and affordable payment interlines for small business that are the best 5 PayPal alternatives in 2019.

Best 5 PayPal Alternatives In 2019

Transferwise

Transwerwise is the best alternative for freelancers or business person searching for an online payment platform as it comes with rather low transaction fees and no obscure charges. One of the best attributes of this payment interline is that it sustains over 40 currencies.

Venmo

This payment application is the best option for those who are worried about security. The platform offers two options: you can link your debit/credit card to Venmo, or you can deposit money in your Venmo wallet to make payments.

The transaction fee is free when you transfer money through your bank account, but when you convey through credit card, the charge is 3 percent of the money you sent.

Dwolla

Also one of the best PayPal alternatives in 2019, Dwolla is ideal for you in the case you have a high quantity of transactions to make. The app is incredibly user-friendly and only takes $.25 on conveys over $10.

When you sign up on this platform, you have to go through a rigorous checking process. Also, you can computerize your transactions and make up to 5,000 transactions with just one API request. However, this payment gateway is only accessible in the USA.

Payoneer

Payoneer allows you to make purchases and payments anywhere on the globe. The platform also gives you prepaid MasterCard, and the card can be used wherever it is accepted.

Stripe

Stripe is trendy among online firms as one of the best PayPal alternatives in 2019 for businesses. It allows you to incorporate it with your API easily.

This platform accepts transactions from all over the globe, with your money going into your bank account through Stripe. Its transaction fees are similar to PayPal’s, but you have to own a bit of programming knowledge to utilize Stripe for online stores.

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Crypto News

PayPal Co-Founder, Peter Thiel, Believes Cryptocurrency Plays A Role In The Decentralization Of The World

The co-founder of Paypal and one of the leading investors in Facebook, Peter Thiel, believes that cryptocurrency can play a fundamental role in the decentralization of the world. During his speech at the international seminar called the 5th Forum on Freedom and Democracy, which took place last Monday at the Unique Hotel in Sao Paulo, Brazil, the American businessman explained that it is necessary to direct efforts to reduce governmental control over the Internet.

PayPal co-founder Peter Thiel’s speech focused on the crucial issue of decentralization in different areas of today’s society

“We need to focus more on decentralization to make the world less centralized,” he said. In his opinion, cryptos will contribute significantly to achieving this objective, since one of the main characteristics of these assets is that they are not controlled or regulated by any particular authority.

According to the entrepreneur, in the late 1990s, he was attracted to financial cryptography. However, he assured that he did not risk creating a system like Bitcoin (BTC) “because he would never be able to do anything like that.”

It is worth remembering that Peter Thiel has been one of the leading figures who has publicly expressed his optimism about the future of Bitcoin (BTC) and its technology.

Atlas Quantum and Foxbit, which both faced security issues in the past, sponsored the cryptocurrency summit in Brazil

The international seminar where Peter Thiel, co-founder of PayPal, made the comments, was organized by the Leadership Training Institute of Sao Paulo and Radio Jovem Pan, in Brazil. Among its sponsors, there is Atlas Quantum, a Brazilian company that offers investment services in cryptocurrency, which on August 25th discovered a security problem on its platform. On that occasion, the personal data of 264,000 customers was compromised.

On the other hand, Foxbit, a cryptocurrency exchange platform based in Brazil and also a sponsor of the before-mentioned forum, was the victim of a security failure that caused the loss of 30 BTC during the month of March.

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Crypto

Verge (XVG), Recently Adopted By The Health Sector, Is Going After PayPal

When Verge (XVG) partnered up with MidGeek’s PornHub and Brazzers, two of the biggest names in the pornographic industry, the community showed disappointment and asked for some real partnerships with FinTech sector. However, Verge team kept on moving forward and some names from the health sector adopted XVG. Now, Verge is targeting even higher and is going after PayPal.

Many words were spoken when XVG teamed up with MindGeek who adopted it as a new cryptocurrency-based payments method on its PornHub and Brazzers porn sites.

However, XVG continued to be adopted by small companies and some online stores. But nothing big, apparently.

Verge (XVG) has been adopted by a big name in the health sector

Silently, while the community was still debating the low-profile partnerships Verge signed, a big name in the health sector, Dioxyme, announced on its site, Dioxyme.com, that they have accepted Verge (XVG).

Dioxyme is a big player in the supplements industry where is activating in an interesting niche. The company offers dietary supplements for active people who want to enhance their sportive performances.

Besides Dioxyme, however, XVG has also been adopted by HealthCare, a platform that sells and rents scaffoldings and provides their construction advice when big projects involve them.

Verge (XVG) price

All these news would definitely be good news for every other cryptocurrency but not for XVG. Despite the positive news surrounding the crypto, Verge (XVG) is still trading lower and lower against the USD.

As we speak, XVG is traded at $0.053, registering a decline of 3.21% in the last 24 hours.

However, all these deals it made lately helped Verge coin moving closer to the $1 billion market cap milestone. For the moment, it scores a market cap of only $807 million.

Verge (XVG) is going after PayPal

Supposedly, some inside sources announced that “Verge is aggressively pursuing PayPal via their Venmo platform.” According to the sources, PayPal and its Venmo platform are working on listing a lot of cryptocurrencies and XVG might be one of them.

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Crypto Finance

Cryptocurrencies Payments Are Significantly Cheaper Than PayPal, Which Increased The Fees

Recently, the electronic payment service PayPal announced an increase in its commissions. However, the increase in PayPal’s fees makes cryptocurrencies payments a much more beneficial option for users looking for alternative payments to traditional banking or online payment processors.

The new PayPal policy came into force at the end of the last week and implements a series new term of use, as well as the increase in the commission rate for international transactions. The new fees for PayPal services establish a base amount, depending on the country in which the sender is located, which varies between $2.99 and $4.99, to which is added a fee depending on the region where the transaction’s receiver resides.

Also, the payment service implemented changes in the conditions of use. Thus, from now on, all accounts must be fully verified, otherwise, users will only have access to their balance overview and to withdraw the money to the linked bank account.

A condition that, although it seeks to avoid the use of PayPal for money laundering and financing illicit activities, limits the privacy of the users of PayPal.

PayPal’s stricter regulations and higher fees may turn out to be beneficial for cryptocurrencies payments

On the other hand, the limitations implemented by PayPal can stimulate the adoption of cryptocurrencies as a method of payment for international transactions.

Especially considering the low commissions currently handled by the most used cryptocurrencies such as bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).

It is important to bear in mind that the transactions fees in the cryptocurrencies market do not depend on the geographical location where a transaction is generated or received but on the immediacy with which the confirmation of the transfer is required. A feature that leaves open the possibility of sending a million dollar transaction in Bitcoin (BTC), for example, for only 0.08 cents, of course, if you are willing to wait between 6 and 8 hours for its verification, according to the current speed of the blockchain.

It is necessary to emphasize that PayPal is a much more popular payment tool than the cryptocurrencies payments, therefore it is more common to get businesses and people willing to accept PayPal than they may have been willing to accept cryptocurrencies.

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Markets News

PayPal Comes with New Services for those Who do not to Use Traditional Bank Accounts

A new era is supposed to start for PayPal. It appears that PayPal is planning to release a new series of services that are similar with the ones offered by banks. This information was released by a report in the Wall Street Journal.

Numerous banking services will become available really soon, including FDIC insurance, direct depositing paychecks, as well as ATM-compatible debit cards. However, it is incredible that PayPal is able to do that. Normally, there is no banking license for PayPal in the United States.

Partnering with small banks

PayPal is able to offer with all those services by partnering with some small banks. This means that PayPal won’t be the one that will handle the debit cards or the loans directly. These features will be handled by various banks.

At the moment these features have already become available, but only for a small number of customers. As it turns out, these services are available for free, and they do not require any monthly fee or minimum balance. However, ATM fees will be required when customers will use the machines.

These new services are great for the persons who are not able to access traditional banks. That is because there are many people with low credit who are denied certain baking services. Additionally, many banking services alternatives are not safe enough so PayPal will represent a better option for all of them.

Bill Ready, the COO of PayPal appears to be aware of these problems and he states that the new services are not here so that PayPal can replace traditional banks. He even added that if a customer already has a bank account that is connected to the PayPal account, then  “this isn’t an account for you.”

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