Abstract

  Digital currency has many benefits that make it a better option than traditional
currencies. Digital currency uses decentralization of information, which results in less fraud. This is not possible with fiat currencies because personal information and chargebacks are required for transactions. With PayPal, you can pay for an item securely and without hidden fees. If the purchase turns out to be a scam, PayPal is able to refund your money, and in turn, keep financial information secure. Bitcoin (BTCUSD) is often referred to as a form of digital currency that allows you to receive rewards without interference from central banks. Similarly, Bitcoin is designed to be a hugely beneficial innovation in the future, and it has vast benefits beyond drawbacks. Bitcoin is accessible and versatile currency that can be transferred in minutes. Bitcoin brings an innovation to payment systems, and this could fuel new innovations. A shortcoming of Bitcoin is that it's not widely accepted; nevertheless, there are many online stores accepting bitcoin nowadays. This paper explores the concept of the PayPal and Bitcoin, the opportunities we have using them and legal issues associated with them are also examined.