Topic: PayPal blocked a member's account due to cryptocurrency trading (Read 626 times)
I used to think, paypal will be the another vital platform for crypto Usage but this news may cause the end of cryptocurrency future on paypal platform.it is never excepted from such reputational platform like Paypal.as an effect on their consumers, paypal is going to lost huge number of crypto lover who was there to use crypto.so after all it is proved that, exchanges are the best choice instead of Paypal
December 09, 2020, 06:27:34 PM
A trader with the nickname Thecooldoc reported on Reddit that his account in the PayPal account was permanently blocked. "PayPal permanently banned my account due to CryptoCurrency buy/sells being treated as "item SALES": https://www.reddit.com/r/CryptoCurrency/comments/k0rmtw/paypal_permanently_banned_my_account_due_to/
Can the Reddit community help the trader?
I said this a couple of times after I saw alot of posts here talking about how good it was for PayPal to adopt crypto on their platform, things like this is the main reason why I keep away from PayPal, because it already has a bad reputation for blocking its users, I have seen alot people on Twitter saying the exact same thing, they all said PayPal blocked them from accessing their account and they weren't able to retrieve the funds either, my advice is keep away and don't make use of PayPal for crypto transactions. Can the Reddit community help the trader?
December 09, 2020, 03:53:33 PM
After the recognized of btc, still have a lots of thing that helps crypto industry to grow more though with paypal platform.but such type of incident could really damage paypal's reputation. but the question is paypal accepted crypto, for buy sell and trading on there platform.so its doubtful that paypal banned his account permanently without any reason? I think first of all, we should know the truth before manking reaction aganist paypal. if he found not guilty, then expected that his account will be fully recovered.otherwise paypal will lost its consumers
December 09, 2020, 12:54:07 PM
That's why I don't feel satisfied using bitcoin though Paypal.although i think this matter is deeper than the news.i assume that user broke rules, that's why Paypal ban his account.but its true that cecentralize platform bitcoin gives us freedom of its useage where centralize company like paypsl prevent us from those freedom like don't give us key, can't transfer it to another even can't withdraw bitcoin from their platform.hope those issues will be solved or people will leave paypal permanently
December 08, 2020, 11:39:39 AM
What a pity, if it was ture and the reason just cryptocurrency trading, looks like PayPal is probably going to lose a lot of users.
December 08, 2020, 11:33:39 AM
When many people interesting because PayPal joins in the crypto world, at that moment I'm not interested at all, because I know PayPal is a centralized company and I don't like it. So everything news about it, I just skip it. And now they do it. The centralized company can do anything with your account, I hope with this case people will save their funds into safe storage(wallet with private key)
Centralized companies can easily do something like this anytime, they don't think about the future impact. they just follow their own egos. it is true that you must store assets in a safe place and do not connect with a centralized company such as paypal. I agree with your statement 
December 08, 2020, 07:34:28 AM
It means it's not safe to buy and sell bitcoin and other cryptocurrency using Paypal platform.
It is not safe to use Paypal not only for cryptocurrency, but for regular transactions either. I've seen many times people complaining about weak support from Paypal. Now I have faced it by myself. I have received fiat transaction and the funds are currently "on hold". It was said that they will be transferred to my account after 7 days. 10 days has already passed and the support is silent for 4 hours already.
December 03, 2020, 04:17:13 AM
Who will help him? Whining on social media? If large companies block even the President of the United States. And then some kind of trader. It will not be possible if you have no friends in PaYPal.
December 03, 2020, 03:14:32 AM
Paypal lost a lot of its userbase to stripe the moment they decided to keep peoples money without giving them any option. If you put yourself as a payment processor and not as a bank, you have zero right to keep people's money from them, you can't do it and you should not be even allowed to do it, it should be illegal.
If you gave me an item to give to some customer, and I gave it to customer and took the money to bring to you, but decided to keep the money for 180 days, I would be a thief, but paypal looks to be just a company. Right now there are hundreds of other smaller places that does paypals job better, and stripe is a huge competition that is just few lines of code and never bothers you this way. Hopefully stripe will go into crypto one day, would make things easier.
If you gave me an item to give to some customer, and I gave it to customer and took the money to bring to you, but decided to keep the money for 180 days, I would be a thief, but paypal looks to be just a company. Right now there are hundreds of other smaller places that does paypals job better, and stripe is a huge competition that is just few lines of code and never bothers you this way. Hopefully stripe will go into crypto one day, would make things easier.
December 03, 2020, 01:38:27 AM
It never says the reasons why the account has been blocked anyway into Paypal. However, if it is that Paypal made the wrong things here, surely, the platform of Paypal will be damage and this is not good actually to all Paypal users. And for the crypto fanatic better to stay away for this one(PAYPAL) so that no one next become a victim by this issues.
December 02, 2020, 11:41:01 PM
This news definitely influenced bitcoin, because of which it fell to $ 16,500, but this is just unverified information. And even if this is true, then this was an isolated case, if many users start trading bitcoin on PayPal, they will not be blocked.
I think the reason this ban happening because if it continues paypal don't get commision like a service that they intend to open.The reason paypal announcing to integrate crypto into their service maybe to earn some commision for every transaction meanwhile if people just making transaction or making a deal with other people outside the platform and then uses the platform for payment method they got nothing. But its definitely bad practice from paypal.
December 02, 2020, 11:35:25 PM
I thought, just a moment ago they accepted cryptocurrency? well, so much news that after receiving crypto, paypal again banned crypto after receiving it. Well, I think the principles are fluctuating. Personally, I don't use paypal for crypto business because of things like this.
December 02, 2020, 11:03:23 PM
PayPal has increased the opportunities for traders by adopting cryptocurrency but if paypal blocks a member's account because of the cryptocurrency business there will be a reason behind it. Maybe they broke the rules of account usage and had the opportunity to scam which is why paypal has taken such action if you close the account without any reason the demand for paypal will gradually decrease users will use other sites when using crypto. Paypal will suffer a lot therefore you need to review and use the sites well.
December 02, 2020, 06:59:44 PM
I think if PayPal keeps blocking like this it will only make the platform damaged and can't be trusted anymore because most cryptocurrency people use PayPal.
December 02, 2020, 06:57:13 PM
Centralization always create problem to us. Even though PayPal accepts bitcoin, i do not like an idea using bitcoin in this platform. There are tons of terms and policies as well as restictions and they can even ban your account with a ridiculous reason.
I remain use exchange as a place to buy and sell my cryptocurrency because they are more trust than paypal. Problems can be resolved in a few days without having much troubles
I remain use exchange as a place to buy and sell my cryptocurrency because they are more trust than paypal. Problems can be resolved in a few days without having much troubles
December 02, 2020, 06:21:33 PM
does the user did something wrong on PayPal terms and conditions, or maybe did something against the rules?
if that's the case, I think a new company that is trying to implement something that we are doing before, will scare other people to use these platforms,
I think we should just step away from this company and use the platforms that we are not stressed or we can use freely, there is a lot to use, thanks for the information, I was thinking if I'm gonna try PayPal maybe I'll be thinking about it first.
if that's the case, I think a new company that is trying to implement something that we are doing before, will scare other people to use these platforms,
I think we should just step away from this company and use the platforms that we are not stressed or we can use freely, there is a lot to use, thanks for the information, I was thinking if I'm gonna try PayPal maybe I'll be thinking about it first.
December 02, 2020, 05:46:45 PM
Well in my opinion we cannot blame Paypal or the trader, I think they are a misunderstanding between both of them Or the member had done suspicious like big amount of money going to his/her accounts recently or break any terms of agreements, Or Paypal is playing the bad guy because of them seeing how good crypto currency has become.
December 02, 2020, 02:19:52 PM
I heard lately that PayPal intends supporting cryptocurrency, this news has been making rounds lately and it's surprising to hear that accounts of a user was blocked due to cryptocurrency. I'm personally of the opinion that there must be some other reasons which may have necessitated the account suspension.
December 02, 2020, 01:59:44 PM
The reason why some people in crypto trading using PayPal is because PayPal Join crypto. I always tell people to be patience and do a thorough research before you take any kind of risk, because in this crypto business nothing is certain. I'm very sure that this act that was taken by PayPal will have a future implication because people will find it difficult to trust them.
December 01, 2020, 05:12:28 PM
Such existent issue will surely have a bad impression to arise towards PayPal for that thing to happen of banning an account due to crypto trading knowing that they have announced that they are open for crypto adaptation which makes it look ironic in the first place. PayPal administration may have something to do with this or else other crypto users and other users as well will pull out their funds from PayPal because of such actions like this. May they have some clear explanation regarding that matter so the user can duly understand what really have happened to end up banning his account. It must be some violations on the part of the user or the case is really up to PayPal itself that must be clarified for many people might be in fear of doing crypto transactions with them because of that issue.
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