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<p>[QUOTE=&quot;Kurisu, post: 7517447, member: 117063&quot;]It&#039;s because buying crypto on PayPal is actually more like buying into a crypto mutual fund via PayPal.</p><p><br /></p><p>For those who don&#039;t quite understand crypto yet...the apps on your phone or your computer are not your crypto wallet...technically, your wallet is the string of password phrases you keep secure somewhere offline. So that you can create a &#039;wallet&#039; of sorts using that string of passwords to access your crypto via the blockchain online where your crypto lives.</p><p><br /></p><p>Like emails...you can&#039;t theoretically lose your crypto unless there is a planet wide server failure somehow. The other thing to understand is that each independent country will end up having some sort of crypto that is its primary currency and will behave just like fiat (physical cash).</p><p><br /></p><p>For America it might be &quot;USD crypto&quot; it might be something else, but it is a very high priority since our cash can already be virtual. It&#039;s still a matter of the government deciding how much exists and how it influences it&#039;s value with goods and taxes and interest rates, just like printed monies.</p><p><br /></p><p>A little example is that India realized that cryptos are essentially borderless and so has made a lot of crypto trading illegal while they develop their own country&#039;s crypto currency.</p><p><br /></p><p>In America you actually need to use a &quot;wallet&quot; based on American servers because just like stocks and bonds and mutual fund trading...yes, you do have to pay taxes on personal gains from crypto. Many people who aren&#039;t in the crypto &#039;game&#039; yet do not really understand this...yet.</p><p><br /></p><p>Just like off-shore accounts, there will likely always be ways to cheat...but for most crypto owners that is not the way it&#039;s happening. Servers and IP addresses are important things, still.</p><p><br /></p><p>As crypto becomes backed by assets, like the gold in Fort Knox, it will continue to merge with fiat. Visa is currently developing a plan to accept crypto at it&#039;s nearly 60 millions terminals...that&#039;s going to change some things in the way of acceptance lol!</p><p><br /></p><p>There is an issue that will arrive during the next few decades and that&#039;s quantum computing...when quantum computers become fairly common, even if they&#039;re not quite personal computers...theoretically due to the massive computing power of quantum computing unfortunately ALL previous passwords and encryption methods will become &#039;crackable&#039;. But that&#039;s a whole different discussion. For right now the method of blockchain encryption is essentially unhackable due to it&#039;s complicated encryption method...yet another whole different discussion.</p><p><br /></p><p>Hope that all helps a little bit <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie100" alt=":wideyed:" unselectable="on" unselectable="on" /><img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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