Print Page - Funding Wallet via PayPal

Title: Funding Wallet via PayPal
Post by: compiler4422 on June 04, 2023, 04:14:25 AM

I want to fund my Exodus Wallet. I USED to go from my bank to COINBASE (CB) to EXODUS. But now CB uses
PLAID and I'm just wary of giving PLAID my bank online
credentials (so I guess one question: is my concern
unwarranted?)

Note: I live in the USA.
Also, we are talking about small amounts of funds that would be
in Exodus only briefly

As an alternative: I can buy BTC in my PayPal account.
Can I then xfer funds to Coinbase or even better directly
to Exodus using their generated BTC address? Looking
for someone who has actually DONE IT. Any issues?

Mel

Title: Re: Funding Wallet via PayPal
Post by: Despairo on June 04, 2023, 04:21:47 AM

Based on this information, they say it's safe, but who knows if they would misuse your information?

Quote from: https://help.coinbase.com/en/coinbase/privacy-and-security/other/how-is-my-bank-account-information-protected

Does Coinbase have access to my bank account credentials if I link via Plaid?

No, Coinbase does not have access to your bank account credentials (username or password) and will NEVER ask for this information.

Quote from: compiler4422 on June 04, 2023, 04:14:25 AM

As an alternative: I can buy BTC in my PayPal account.
Can I then xfer funds to Coinbase or even better directly
to Exodus using their generated BTC address? Looking
for someone who has actually DONE IT. Any issues?

Yes you can buy BTC through PayPal and directly transfer to your Exodus wallet, no need to send to Coinbase because there's no benefit and just add more fees.

But I see you're want to protect your privacy and trying to become long term holder.

I suggest to use other no KYC exchange e.g. Bisq or Agoradesk and you should use better wallet which is non custodial and open source e.g. Electrum, Bluewallet etc. Exodus isn't a good wallet due to closed source. Consider to use hardware wallet too, but don't use ledger because there's a recent serious accusation against them.

Title: Re: Funding Wallet via PayPal
Post by: Yogee on June 04, 2023, 04:34:37 AM

Quote from: compiler4422 on June 04, 2023, 04:14:25 AM

[...]I'm just wary of giving PLAID my bank online credentials (so I guess one question: is my concern unwarranted?)

Perhaps. If you're not familiar with them or you don't think they can properly secure your bank credentials then all the more that you should avoid. Limit giving out personal information as much as possible.

There should be no problem transferring funds from Paypal to external wallets like Exodus since they already have that feature available for users in the US. Not sure if those from Hawaii are still not allowed.

Title: Re: Funding Wallet via PayPal
Post by: odolvlobo on June 04, 2023, 07:13:41 AM

According to Plaid, this is the information they extract from your bank account:

Quote

Account information, including financial institution name, account name, account type, account ownership, branch number, IBAN, BIC, account number, routing number, and sort code;
Information about an account balance, including current and available balance;
Information about credit accounts, including due dates, balances owed, payment amounts and dates, transaction history, credit limit, repayment status, and interest rate;
Information about loan accounts, including due dates, repayment status, balances, payment amounts and dates, interest rate, guarantor, loan type, payment plan, and terms;
Information about investment accounts, including transaction information, type of asset, identifying details about the asset, quantity, price, fees, and cost basis;
Identifiers and information about the account owner(s), including name, email address, phone number, date of birth, and address information;
Information about account transactions, including amount, date, payee, type, quantity, price, location, involved securities, and a description of the transaction; and
Professional information, including information about your employer, in limited cases where you’ve connected your payroll accounts or provided us with your pay stub information.

The data collected from your financial accounts includes information from all accounts (e.g., checking, savings, and credit card) accessible through a single set of account credentials.

Title: Re: Funding Wallet via PayPal
Post by: DeathAngel on June 04, 2023, 12:07:42 PM

I’m not too concerned about Plaid, Kraken use them as a middle man & I’ve used it (via Kraken) many times. I have no worries about Plaid, let’s be honest our KYC is everywhere these days with all the exchanges we use. It’s up to you but Paypal are just as likely to sell your info to companies as Plaid.

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Bitcoin => Bitcoin Discussion => Topic started by: compiler4422 on June 04, 2023, 04:14:25 AM