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December 22, 2013, 09:27:02 PM |
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Using PayPal to buy cryptocurrency is not a good idea because there are too many buyers/scammers who raise disputes with PayPal, who in turn reverse payments, leaving the seller out of pocket. It's not easy to provide evidence that the goods have been received.
Secondly, because PayPal are regulated as a banking organisation, they take a hard line approach to anything that can be remotely considered as money laundering (as stupid as it seems), and they can freeze your account (and balance) for months, possibly forever. PayPal have enough money already and you don't want them stealing yours as soon as they have an excuse to do so.
If you aren't verified but have funds available, you'll probably kiss goodbye to them unless you can provide full ID to prove who you are. A lot of people have unverified accounts with money in as them as the number of PayPal accounts you can hold are limited.
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