Topic: Drop by if you are a PayPal user (Read 429 times)
Paypal can't just ban an account without notifying you with a reason. I have been using paypal for years and never had any restrictions but I've read that some users get restricted but there's always a reason given which will be within their policies. I haven't used their paypal features as that is not available in my region yet so I can't really comment on crypto trading experience. People need to avoid using paypal for illegal or suspicious activities else they will get banned
paypal can impose restrictions on accounts that make a lot of transactions, provided that they are authenticated and addressed. These restrictions can be eliminated by authentication or address verification. This situation is a measure taken to prevent money laundering.
I make use of PayPal, but not for cryptocurrency trading. The crypto feature is not yet available for me and others in my country, I guess maybe by next year it will. But I don’t plan to make use of PayPal’s Bitcoin and crypto. I just use PayPal to send money sometimes and I don’t use it regularly and mostly because people I send money to now make use of Bitcoin for receiving money.
Even if they start offering the crypto feature, I already have Binance and I also have some good private wallets that I am using, so it’s of no use, and I have read their method is completely different. As to whether they are blocking users account, I have seen two people complain that their account was blocked because they tried to day-trade cryptocurrency, although one of them said his account was later released but restrictions were placed on it.
Even if they start offering the crypto feature, I already have Binance and I also have some good private wallets that I am using, so it’s of no use, and I have read their method is completely different. As to whether they are blocking users account, I have seen two people complain that their account was blocked because they tried to day-trade cryptocurrency, although one of them said his account was later released but restrictions were placed on it.
The problem might not really be about the PayPal but the world financial policy as regards crypto. As we all know that most used bank card all over the world is mastercard, I recently learnt that skrill is no longer allowing the funds deposited through master card to settle payment to merchants, most especially the crypto markets.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
I don't think the OP is truthful about his claims. While he was active on the forum today he did not return to the topic to address the questions asked.
Yes, my mistake. I was referring to the maxreish post, so I came to the wrong conclusion.
I read some previous claims that PayPal blocked accounts due to crypto trading so I wrongly concluded that OP is also one of them.
I read on the forums that in case of blocking, it is easier to forget and make another account. There is almost no chance to restore the old one. And after blocking, you can't immediately withdraw funds: this is only possible after you close your account after 180 days.
PayPal is just a commercial company that makes a profit in all available ways it is not subject to government regulations.
PayPal is just a commercial company that makes a profit in all available ways it is not subject to government regulations.
If you are a PayPal user and your account got blocked why trading crypto please kinda drop comment on here, the reason why I bring this up is because of I still find it hard to believe that PayPal is blocking users account for no reason sake, PayPal is after money and they knew that implementing crypto will bring them huge money, they won't want to chase away their customers and ruin their reputation, they know about better crypto exchanges out there, the competition is real
Dunno if it is their "TOO" strict KYC verification or it is just their way to rake a bit of money from their users. That's why I avoid Paypal most of the time.My account, which I already expected to get locked, did. Now that they don't allow me anymore to use Paypal cause even with valid IDs, I still got no power to unlock my limitations there. Now I am just gonna wait 180 days for goodness sake.
If you are a PayPal user and your account got blocked why trading crypto please kinda drop comment on here, the reason why I bring this up is because of I still find it hard to believe that PayPal is blocking users account for no reason sake, PayPal is after money and they knew that implementing crypto will bring them huge money, they won't want to chase away their customers and ruin their reputation, they know about better crypto exchanges out there, the competition is real
Payapl is never going to block your account for dealing with cryptos because in 2020 they itself implemented buying and selling crypto features in their platform by integrating with a crypto exchange.So either you did some violation of their terms or its by a mistake so better contact the support and ask for the clear explanation is the only solution available for you. If you are a PayPal user and your account got blocked why trading crypto please kinda drop comment on here, the reason why I bring this up is because of I still find it hard to believe that PayPal is blocking users account for no reason sake, PayPal is after money and they knew that implementing crypto will bring them huge money, they won't want to chase away their customers and ruin their reputation, they know about better crypto exchanges out there, the competition is real
No. I don't think that you can deposit your funds in a crypto exchange with the used of your PayPal account because I know that PayPal prohibits the use of bitcoin and other cryptocurrencies back then. It is why other users of PayPal might have been blocked because they tried to used their funds in PayPal in trading with cryptocurrencies. If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
I don't think the OP is truthful about his claims. While he was active on the forum today he did not return to the topic to address the questions asked.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Yes, usually they will send you an email beforehand and will tell you to do an identity check again? I'm not really sure about that. Regarding Paypal blocking accounts, I think they are still not perfect in their "precautionary" measures, they impose too difficult rules for crypto users. and also I never thought of using Paypal in terms of trading, there are still many options to choose from, simpler and easierWhich trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Yes, usually they will send you an email beforehand and will tell you to do an identity check again? I'm not really sure about that. Regarding Paypal blocking accounts, I think they are still not perfect in their "precautionary" measures, they impose too difficult rules for crypto users. and also I never thought of using Paypal in terms of trading, there are still many options to choose from, simpler and easierWhich trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Few years ago, when I started trading Bitcoin. I heard a lot of horror stories where Paypal shutdown accounts of people who use Paypal to buy crypto. Or engage transaction with websites that process Paypal to crypto. This is a stupid.
Now look Paypal company allows purchasing crypto using Paypal.
Quoted from their website:
https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398?app=searchAutoComplete#:~:text=We%20announced%20that%20PayPal%20users,service%20to%20Venmo%20in%202021.
I won't call it stupidity because PayPal isn't the only company that thinks crypto is another bubble, many did and things change around thanks to crypto performance since that year, even today there are still some millionaires who refused to invest in Bitcoin saying they have no clue what it's all about, crypto adoption needs time and PayPal team feels like it's the right time to support the technology, it's normal. Now look Paypal company allows purchasing crypto using Paypal.
Quoted from their website:
https://www.paypal.com/us/smarthelp/article/cryptocurrency-on-paypal-faq-faq4398?app=searchAutoComplete#:~:text=We%20announced%20that%20PayPal%20users,service%20to%20Venmo%20in%202021.
Quote
We announced that PayPal users in the U.S. can buy, sell and hold select Cryptocurrencies directly through PayPal using their Cash or Cash Plus account. Users will be able to learn about Crypto, track crypto prices, all without leaving the PayPal app. We plan to introduce this service to Venmo in 2021.
PayPal also announced that it will enable Cryptocurrency as a funding source for purchases in 2021, allowing users to use their Cryptocurrency holdings to make purchases at its network of more than 26 million merchants. Once launched in 2021, when a consumer selects Cryptocurrency as the funding source, the Cryptocurrency will be instantly converted to fiat currency and the transaction will be settled with the PayPal merchants in fiat currency.
PayPal also announced that it will enable Cryptocurrency as a funding source for purchases in 2021, allowing users to use their Cryptocurrency holdings to make purchases at its network of more than 26 million merchants. Once launched in 2021, when a consumer selects Cryptocurrency as the funding source, the Cryptocurrency will be instantly converted to fiat currency and the transaction will be settled with the PayPal merchants in fiat currency.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Yes, usually they will send you an email beforehand and will tell you to do an identity check again? I'm not really sure about that. Regarding Paypal blocking accounts, I think they are still not perfect in their "precautionary" measures, they impose too difficult rules for crypto users. and also I never thought of using Paypal in terms of trading, there are still many options to choose from, simpler and easier Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
I don't think the OP is truthful about his claims. While he was active on the forum today he did not return to the topic to address the questions asked.
I am using
PayPal to Bitcoin
for 4 months now and nothing has happened to my account yet
BTC
Hope it stays so
PayPal to Bitcoin
for 4 months now and nothing has happened to my account yet
BTC
Hope it stays so
yeah some people just like spreading fake news without doing any accurate information about it, paypal is such a big company to do things like an amateur who will just block account without any reason, i see many users also believe paypal won't behave like that, i hope @op has the answer now.
If it's really Paypal who blocked your account. There must be a noticed to your email. You may check your inbox, I am receiving some emails from Paypal reminding me for my account because I haven't used it for so many months. They are verifying my account, etc.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Which trading platforms are you currently using? I don't use paypal ot any credit cards when doing some trading. They are planning to adopt crypto payments, too. I think they have a valid reason to block your account. You can also send emails to them regarding your issue.
Maybe using amounts higher than $10000 can be one of the first reasons why the account has been restricted by management.
$10,000 is nothing. They that got account blocked after trading did several trades during 1 week. User can exceed these $10,000 limit within 11 buy/sell trades of $1,000. I'm sure that $10,000 was not the reason to get restricted.
But, he might have used some third party software to automate buy/sell actions with short time in between. That could be a reason for a ban.
The main reason for blocking by PayPal is using solely the Paypal account for crypto trading. In 2021, the funding will be available for users but currently, only trading is supported. Maybe using amounts higher than $10000 can be one of the first reasons why the account has been restricted by management.
I'm a long time user of PayPal but didn't try to use it yet in trading, I'm not just comfortable yet in doing so since I prefer to use it in paying in some shops and buying in international transactions online. If there is limit for new users it will hinder the adoption they might wanted or better new users of PayPal should read rules to avoid being block, restrictions maybe for new users to avoid using their platform for AML transactions. Same here. Long-time user here but haven't tried their crypto services yet. And don't have plans to. I will just do my crypto dealings outside PayPal, which is far better than using their platform when you talk about crypto trading. I believe most long-time crypto users will not find it advisable to use their platform when it comes to crypto. But ok, this will be a good introduction to previously noncrypto users of their platform.
The main reason for blocking by PayPal is using solely the Paypal account for crypto trading. In 2021, the funding will be available for users but currently, only trading is supported. Maybe using amounts higher than $10000 can be one of the first reasons why the account has been restricted by management.
I'm a long time user of PayPal but didn't try to use it yet in trading, I'm not just comfortable yet in doing so since I prefer to use it in paying in some shops and buying in international transactions online. If there is limit for new users it will hinder the adoption they might wanted or better new users of PayPal should read rules to avoid being block, restrictions maybe for new users to avoid using their platform for AML transactions. Jump to: