I am eagerly looking forward to the day PayPal will loose its relevance as a payment processor. It appears the time is getting close with the emergence of cryptocurrency. There will always be a fight to survive, but I think paypal is doing it the wrong way. They are beaming their searchlight on those using PayPal to buy and sell cryptocurrency
Some users report their PayPal accounts have suddenly been “frozen” and their money made inaccessible for 180 days.
If people bothered to read the PayPal Terms of Service, they might notice the company can close user accounts or freeze their funds whenever they feel the need to. There is no option available to appeal such a decision, and users will have no choice but to accept the penalty. Even when the 180-day period ends, the company is allowed to keep the money frozen for another similar period, after which they will decide whether or not the account in question will be closed permanently. For some people, this will mean not being able to access thousands of dollars for up to a year, without any recourse.
It is evident anyone looking to sell cryptocurrencies should use LocalBitcoins or other platforms and never deal with PayPal ever again. The company is rock solid when it comes to normal payments, but it has a clear disdain for cryptocurrency activity, which is only to be expected. There is no reason to deal with PayPal to buy or sell Bitcoin and altcoins, as there are so many other payment options one can choose from. The sooner people realize this, the better it will be for everyone involved.