Categories: CryptoNews

File Sharing Company Seafile Drops PayPal in Favor of Bitcoin

Seafile is a file sharing company operating out of Germany. That is not out of the ordinary, except they were forced by PayPal to comply with stricter KYC rules. The company decided not to do so and promptly saw their PayPal account suspended. As a result, Seafile is now accepting Bitcoin payments through BitPay.

Seafile Bites The Bullet And Picks Bitcoin

We live in a very strange world of payments these days. PayPal, while one of the most commonly accepted payment methods in the world, sometimes oversteps its boundaries. Such was the case with Seafile, as they asked the file sharing company to ensure there was no illegal content hosted or shared through their platform.

That in itself is not invasive by any means, and the company would have complied with that. However, PayPal’s request went much further, and they forced Seafile to log the IP address, browser information, and location of every user accessing any file on their platform. That was not to the liking of the company, and the dispute with PayPal escalated from there on out.

After a lot of back-and-forth communication, PayPal decided to give Seafile an ultimatum. If the company did not comply with their rules within a handful of business days, they would no longer be able to accept PayPal payments. As Seafile had no intention to comply with these ludicrous demands, the PayPal option

Related Post
was removed from their website.




Finding a new globally accepted payment method is not an easy feat, though. Bitcoin is one of the only options available to companies. Due to its decentralized nature and no central oversight, there is no one to determine who can or can’t accept Bitcoin payments for whatever reason.

Seafile decided to take the plunge and signed up for a merchant account courtesy of BitPay. The company is now accepting Bitcoin payments for all of its services. This new payment method is enabled for both new and returning customers. It is possible other payment methods will make their way to the platform in the coming months, though.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

100% Bonus Offer from BlockDAG, INJ Dominates DeFi & ADA Price Stumbles

Whales Make a Splash After BlockDAG's 100% Bonus Offer Goes Live - INJ Ecosystem Boosts…

7 hours ago

Plus Wallet: Top Crypto Wallet for Massive Rewards

Plus Wallet—Where Effortless Crypto Management and Rewards Align Perfectly In the world of cryptocurrency management,…

8 hours ago

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

15 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

15 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

15 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

16 hours ago