[artaak]

I've got the invite to paypal's beta program for crypto. Honestly, you've got to be mad to be dealing with paypal. I've read anecdotes from people, losing access to their accounts, locked up money in paypal, etc... It all seemed to be just stories, seemed rare, circumstances unclear. Until one day this summer, out of the blue, paypal demanded ID of my spouse (for her account), and then after reviewing it, "permanently limited" the account, gloriously exclaiming:" Aha, we got your information, now you won't be able to use your current account nor open a new one!"

Trying to get to the customer support is yet another saga, and I will spare your time, but the net result is nil. Nobody in the support knows why the ban happened (there was no real reason to ban a paypal customer with over 8+ years, buying some random stuff on ebay), nobody can revert it, nobody really cares and there are no appeals.

Receiving a note from paypal today regarding crypto looked like a bad, really dumb joke to me and an insult for my spouse. You gotta be completely clueless or insane to trust this shitty company with your crypto. One of the key points for crypto is the lack of "deplatforming", which the sinister paypal does left and right, at the same time not even being able to explain its actions, nor comprehend consequences.

Paypal - never!

[dannyw]

May I offer another tale:

• PayPal account holder for 14 years.

• Occasionally sell on eBay, and send/receive payments for freelancing work (maybe $10k a year)

• Semi-regularly buy and sell bitcoin for PayPal (about $1-2k a month)

• Never had eBay buyers claim DOA or anything suspicious, including high value sales (think GPUs, etc).

• As of a year ago, added to the “Funds Now” program which means my money will never be placed on hold, even during a dispute.

• The program worked as intended, as I was able to access my funds even during a dispute.

• For disputes I’ve had to make, they’ve always been resolved in my favour.

• Back when they had phone support pre-COVID, I always got local reps who knew what they’re doing.

On the other hand, last month my bank banned me and closed my accounts for depositing money into a local, regulated bitcoin exchange; with a letter giving me one day to sort out alternate banking agreements.

Go figure.

[artaak]

Look, believe it or not, I am in the same boat - never had issues with paypal, but neither I'm a heavy user. Randomness and the severity of paypal actions is a huge issue for me.

The subject of the discussion is paypal's surprise wedding with crypto. As stated in the above comment, my argument is: from customer perspective it is a bad, crazy proposition.

Hey, paypal has a loooong history of random, inexplicable deplatforming of customers, and mixing that corporate attribute with crypto makes sense only on executive powerpoint slides.

[aymeric]

What is your country?