Re:The Zcash Anonymous Cryptocurrency [video]
by litetime on Monday January 09, 2017 @12:27AM
(#13354221)
> you can use paypal [to] store EUR or USD [from yuan]
How would you do this?
If it is possible to exchange yuan to usd and keep it in paypal without a US account, I would still be very uncomfortable storing hundreds of thousands of dollars in it. It is a centralized entity that can freeze funds for any reason, be compelled to report things, make mistakes, paper trail, etc.
Being able to exchange currencies is also a step above regular banking I believe. You need access to forex markets and the associated setup and trails.
How would you do this?
If it is possible to exchange yuan to usd and keep it in paypal without a US account, I would still be very uncomfortable storing hundreds of thousands of dollars in it. It is a centralized entity that can freeze funds for any reason, be compelled to report things, make mistakes, paper trail, etc.
Being able to exchange currencies is also a step above regular banking I believe. You need access to forex markets and the associated setup and trails.