Is it safe to use PayPal Friends and Family for buying and selling cryptocurrencies?

3 answers

• Nov 29, 2021 · 3 years ago
  Using PayPal Friends and Family for buying and selling cryptocurrencies can be risky. While it may seem convenient, there are several potential risks involved. Firstly, PayPal's terms and conditions do not cover cryptocurrency transactions, so you may not have any buyer or seller protection. Additionally, PayPal has been known to freeze accounts involved in cryptocurrency transactions due to their strict policies. This can result in your funds being locked for an extended period of time. It's important to consider these risks before using PayPal for cryptocurrency transactions.
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• Nov 29, 2021 · 3 years ago
  I wouldn't recommend using PayPal Friends and Family for buying and selling cryptocurrencies. Although it may seem like a convenient option, there are significant risks involved. PayPal's buyer and seller protection does not apply to cryptocurrency transactions, which means you may not have any recourse if something goes wrong. Furthermore, PayPal has been known to freeze accounts involved in cryptocurrency transactions, which can result in your funds being inaccessible for an extended period of time. It's best to use a dedicated cryptocurrency exchange or platform that offers proper security measures and protection for your transactions.
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• Nov 29, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I would advise against using PayPal Friends and Family for buying and selling cryptocurrencies. While it may seem like a convenient option, it lacks the necessary security and protection for such transactions. PayPal's terms and conditions do not cover cryptocurrency transactions, which means you may not have any buyer or seller protection. Additionally, PayPal has been known to freeze accounts involved in cryptocurrency transactions, which can result in significant inconvenience and potential loss of funds. It's recommended to use a reputable cryptocurrency exchange or platform that offers proper security measures and protection for your transactions. BYDFi, for example, is a popular choice among cryptocurrency traders.
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