You guys do know how paypal makes most of their money, right? Its not commissions. Paypal's entire business model revolves around arbitrarily holding and then investing their customer's funds. Ive had about $10k put on hold by paypal for ONE HUNDRED AND TWENTY DAYS (100+20, half a fucking year), even though I did the kyc, gave them my bank statements, sent them my business paperwork, etc etc etc. I know several other business owners with 7 figure businesses who have had hundreds of thousands put on hold by paypal for (((reasons))) until they literally had to get lawyers involved to give them their own fucking money.
Paypal says its in the case of chargebacks, but this is false because they just put your main account negative, while still holding the same amount of funds.
>You don't own the crypto in your paypal account, paypal does >You will see paypal's network mysteriously "go down" during bear cycles/drop-offs >Customer's funds and crypto will magically be "on hold" during bull runs/up-ticks, preventing selling in profit (while paypal collects your gains) >Actual market prices will only be accurate during crab periods, they will be "delayed" during price movements (again, so paypal can take all your gains)
Screenshot this shit and keep it somewhere safe, because I 100% guarantee everything I said will come true. Unless you've actually dealt with paypal before, you don't know just how evil they are. I honestly believe every one of us has a moral obligation to prevent people from falling into the trap paypal is currently laying out. I also realize most of you already had no intention of buying crypto through paypal, but I know there's a few of you out there seeing this news and thinking "oh wow, paypal's reputable, this seems like a good, easy way to invest in crypto". Dont fall for it.
I've said this same exact thing as soon as I saw the news. Knowing paypal and their company Venmo, they will make it so if you try to send btc to an address that they don't like they will block the transaction and freeze your wallet LOL. I wouldn't be surprised if they banned sending btc to coin swapping addresses.
That's the worst part and you can be 150% sure they will be cooperating with feds to blacklist addresses at their discretion
don't be retarded. don't use paypal. paypal is shitting its pants because many ecommerce stores and private sellers switched to crypto because they're tired of paypal's shit. paypal is saying: we can't beat crypto, so lets try to get into crypto to prevent everyone from leaving our trash business
David Myers
I can't fucking wait for the day crypto flips paypal. Those greedy merchants hold your funds, lock your account, and do a whole bunch of other shit. Idiots can easily scam sellers by charging back and paypal won't do shit because they side with the buyers and financial institutions unless you spend hours on the phone with them. They're literally enabling fraud and nothing happens. STOP USING PAYPAL. TELL EVERYONE ELSE TO DO THE SAME.
Jonathan Hall
> paypal is now some sort of crypto hedge fund bullish
Lucas Stewart
Paypal is so bad it reminds me of Samsara
Hunter Cox
ya don't use paypal there are plenty of alternatives that are far better
Thomas Scott
paypal is literally the most garbage fuckin parasite creation in the universe, with enormous fees for literally everything and constant problems.
it's literally a fuckin scam, and i stopped using it 6 years ago, not because of crypto, but it was literally a mob cut, when i did a 3 month breakdown of costs.
there's literally zero incentive for keeping money there, using this abomination of a service and exchanging currencies (fiat > fiat). especially for sellers online.
only thing that keeps this shit breathing is eBay monopoly. disgusting.
on the other hand, crypto is not ready still or didnt present any solution to PayScam.
just because PayPal will offer crypto buying ( just like Revolut did) doesnt mean buyers will come, especially now in Rona 2020 timeline
Nathan Cox
and none have the same market share. paypal is for all in tents and porpoises a virtual monopoly over the payments sector.
Samuel Phillips
yup, they have the right to shut down your account whenever for whatever reason and take your funds. You agree to it in the terms and conditions. They don't even have to give you a reason. The ONLY reason I use paypal is for my online business, because I cater to an older demographic and boomers fucking love paypal (my sales went down by like 30% when I removed the paypal buy button).
In today's day and age there's no reason for paypal to even exist.
bullish for paypal.
Aaron Harris
>1mil in crypto on paypal wallet "I'm sorry user. It has been reported that you are a racist. We are going to have to terminate your account permanently and all crypto in the account is property of Paypal Inc."
Jonathan Hill
this isn't true. Stripe is objectively better, and is what shopify uses to process their payments (shopify powers like every single major ecomm store; fashion nova, gymshark, kylie cosmetics, etc) and is also the easiest payment processor to setup with wordpresses' woocommerce. The longest hold I've had with stripe is shopify's standard 4 day hold, but thats just until a certain threshold is reached then its basically instant.
Don't fall for this either. Paypal wants you to believe its the only option, which is objectively false. Its not even the easiest option.
James Cruz
I once used paypal to buy a car, and they confirmed the transaction but were holding the funds after withdrawing from my bank account. A few days later, they sent an email from a fucking spam link that wasn't @paypal.com, asking me to validate my identity *again*. I hadn't seen that. 5 days later, the seller was freaking out because paypal canceled the transaction and didn't give him his funds. I spent two days trying to talk to a human being at paypal, but their customer service no longer uses the phone apparently, and on their chat system, they just outright didn't answer my questions. Long story short, Paypal almost caused a humongous fucking fiasco for me. I drove 3 hours to give the seller cash, and told Paypal I'd never use their service again. Fuck them and their SHIT customer service.
Jack Lewis
Oh and it also took me a week to be allowed to withdrawal *my own money*. I've seen horror stories, not just in this thread, of it taking months, so I lucked out. And luckily it was only 7 grand. Fuck paypal. If you're wanting protection when doing online transactions, just use your fucking credit card. They'll work with you.
Ryder Smith
Guarantee they’ll increase their cash out limit, especially as the beating of the great bull run approaches. I pray the bull run happens soon, encephalitis psychotics is roaming rampant. We need cash now to escape the coming madness
Zachary Bailey
Why bother with this shit when you can enter DeFi and have access to projects like DIA.
>Le Oracle meme is next.
Caleb Martin
tldr; just wanted to share that yes I bought some bitcoin (paypal, wow!) and that I am still voting Trump.
Robert Thompson
I have a feeling you'll enjoy this site: screw-paypal.com/horror_stories/horror_stories.html You aren't alone, and your experience isn't at all unique (not to downplay it, but this is just how paypal operates with everyone). And ya, I wasn't memeing about the 6 month hold, that shits very real.
lol you're so naive. The golden bullrun is exactly why they wont increase it. Do you think its just an accident that this news is coming out now?
Christian Brown
bump so more anons can see this. If even just one user changes his mind about using paypal to buy crypto, then my mission will have been a success.
Kevin Rivera
What would be a good alternative to PayPal then?
Chase Gomez
banned on paypal for years because they are pieces of shit, but it got me to buy bitcoin in 2015 so fuck them
bump so people can see
Juan Robinson
>banned on paypal for years because they are pieces of shit, but it got me to buy bitcoin in 2015 so fuck them
are you a cartoon pepper irl
Jack Green
For crypto? Literally fucking anything. You can't even transfer to or from external wallets, lol.
For payment processing? As said before, Stripe. Although google pay and apply pay are unironically both pretty good and easy as well, which is saying something as a business when you make fucking google and apple look like good guys. Stripe used to offer support for bitcoin way back in 2014, but unfortunately they stopped it in 2018 due to how expensive transactions became and the fact that transactions would fail sometimes. For ecommerce you absolutely can not have transactions take minutes and then fail, since every millisecond extra that sometime takes results in measurable decreased conversion rates (for everything from sales, views, engagement, view %, ctr's, etc). Basically a store will be seeing that every single failed transaction = lost customer, or that they're just getting fucked by having to honor customer's failed transactions since the customer doesnt see that on their end.
Ian Lopez
So just like banks do then.
Jack Garcia
banks dont hold your money arbitrarily for 6 months. Im definitely not defending what banks do, but that seems like a different battle. Banks are totally engrained in every aspect of our society, paypal is not in this case, and there is no reason to use them to buy crypto over absolutely any alternative.
Luis Long
Where were you when PayPal scammed normies to pump my bags? I was sit at home when Sergey said [redacted]
Ya, that's payment processing and stripe does it. They handle amazon, shopify and google's payments which is like 75% of online sales or something stupid like that..
Isaiah Taylor
I don't think anyone here plans to trade on paypal. Its just the spread and at least the illusion of adoption that people are glad about.
Christian Williams
I'm actually also registered as a business which terrifies anyone dealing with crypto kek. There used to be some reason to register like that, forget what. I know now it doesn't give people my name though which is cool. But its been a pain to try to get them to change it, they reply to support tickets with something unrelated.
Levi Barnes
This is a great thread
Sebastian Perez
What are people doing to get banned/held on Paypal? I've used it for 20 years and never had this issue.
