Paypal is definitely the most popular eWallet in the world. More and more people are getting used to eWallets and thus make payments with Paypal. Whenever you buy something at Ebay, you recognize that they push Paypal very hard. The reason is that Ebay owns Paypal. It’s also a good solution to make secure payments while Paypal is acting as a trustee. This makes shopping at Ebay safer. But this is not the case for Binary Options Trading because it’s hard to find a broker where you can deposit with Paypal. Many traders are asking how to make a deposit using Paypal but it’s tough to find a reliable broker where you can deposit and withdraw with this eWallet.
The truth is that there is not one single Binary Options Broker where you can deposit using Paypal right now. This is hard for Paypal fans but there’s nothing you can do at the moment other than wait for the right broker that is powerful enough to get Paypal support.
Why is Paypal that popular?
When you take a look at Paypal and other eWallets such as Skrill or Neteller you will realize that there’s no big difference. At least you can’t see the difference! It’s a fact that a product like an eWallet is dependent on network externalities. That means that the more people a product use, the better it gets. In the case of Paypal, they managed to become popular and the more popular they became, the more attractive they became for new customers and operators. For an eWallet, it’s important that many people are using a product. Imagine that you implement a payment method in your online store that just a few people are using. You could save your time. On the other hand, you don’t want to sign-up for an eWallet and fund it when you can’t pay with it anywhere. Paypal did a great job and became the market leader pretty fast. This is not because it’s safer, better or cheaper than other eWallets. They were able to become popular very fast and increased their attractiveness for both customers and operators.