Drop by if you are a PayPal user

[VDraci]

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.

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.

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.

[Ken_terrance]

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

It's normal to hate what you don't understand sir, PayPal had no idea what crypto is all about at that time and they even said bad things about it, many other well known people around the world says bad things about bitcoin too, I could still remember warren buffett joining the bitcoin haters club then, this has nothing to do with why Paypal is blocking accounts today and moreover is your own account blocked? I'm guessing those that got their account blocked have broken the rules of the platform

[Arkann]

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

It's normal to hate what you don't understand sir, PayPal had no idea what crypto is all about at that time and they even said bad things about it, many other well known people around the world says bad things about bitcoin too, I could still remember warren buffett joining the bitcoin haters club then, this has nothing to do with why Paypal is blocking accounts today and moreover is your own account blocked? I'm guessing those that got their account blocked have broken the rules of the platform

On the network, it often spreads information that PayPal has blocked the accounts of its users, which are somehow associated with cryptocurrency, but there is no explanation for this. In any case, any payment system operates constantly in accordance with certain rules that are publicly available. This means that any blocking occurred for some reason, and I do not exclude that the blocking occurred at the request of government agencies. If a criminal case is initiated against a person, then his accounts are blocked, including accounts of the payment system.

[JeotQ]

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.

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.

You aren't reading right, OP point was he doesn't believe that PayPal is blocking people's account for no reason sake, he want anyone who might have a blocked PayPal account to respond if truly PayPal blocks accounts for no reason, all the comments have read so far including yours says nothing about owned account that got blocked while trading crypto on paypal platform

[Kong Hey Pakboy]

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.

[jrrsparkles]

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.

[isaac_clarke22]

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.

[lumierre]

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.

[Iron Fist]

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.

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.

You aren't reading right, OP point was he doesn't believe that PayPal is blocking people's account for no reason sake, he want anyone who might have a blocked PayPal account to respond if truly PayPal blocks accounts for no reason, all the comments have read so far including yours says nothing about owned account that got blocked while trading crypto on paypal platform

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.

[Miaallen]

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.

[darewaller]

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.

[zonefloor]

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.

[abdulodoi]

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