Why is my money on hold when using PayPal for cryptocurrency transactions?

3 answers

• Kaushik PrabhathOct 04, 2022 · 3 years ago
  PayPal puts a hold on your money when you use it for cryptocurrency transactions as a security measure. Cryptocurrency transactions are often irreversible, and PayPal wants to protect its users from potential fraud or disputes. By placing a hold, PayPal can ensure that the transaction is legitimate and that the buyer receives the cryptocurrency before releasing the funds to the seller. This helps prevent chargebacks and other fraudulent activities.
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• phine seraJul 09, 2020 · 5 years ago
  The hold on your money when using PayPal for cryptocurrency transactions is a common practice to mitigate the risk of fraud. Cryptocurrency transactions are decentralized and irreversible, which makes them more susceptible to scams. PayPal wants to ensure that both buyers and sellers are protected, so they hold the funds until the transaction is completed successfully. This way, if any issues arise, PayPal can step in and resolve them.
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• McLain MattinglyNov 26, 2023 · 2 years ago
  When using PayPal for cryptocurrency transactions, your money may be put on hold to ensure a secure and smooth transaction. PayPal has implemented this hold as a precautionary measure to prevent fraud and protect both buyers and sellers. The hold is typically released once the transaction is confirmed and the buyer has received the cryptocurrency. If you have any concerns or questions about the hold, you can reach out to PayPal's customer support for assistance.
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