Suspension of a Paypal User's Account for Trading with Bitcoin

in Project HOPE2 years ago


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Paypal as you know is one of the main companies of digital payments that has more than 27 million users worldwide, the company has been on everyone's lips this month because it announced that it would add the service of buying and selling crypto currencies within the United States to begin with, this called the attention of many people within the blockchain as some outside it due to new investment and business possibilities.
But a couple of days ago one of the first problems related to the change of platform occurred, a paypal user declared in the reddit platform that this platform notified him that his account had been suspended because it was a potential risk due to the fact that the user was making a large amount of cryptographic transactions.

The user known in reddit as TheCoolDoc reported that he made at least 10 transactions in a period of one week buying bitcoin when the price was low and selling them when the price was high, the platform asked him for an explanation of each transaction that the user had made, the user stated that he sent all the information that the platform needed to check with a photo of his ID and labeled the transactions as Paypal Crypto, to which the platform then replied that the user could not continue using his account.

It is clear that there are still problems of assimilation by Paypal for this new function and this makes somewhat nervous users who intend to use the platform for buying and selling crypto currencies due to fear that their assets are confiscated or their account blocked, hopefully the platform becomes more flexible with cryptographic transactions so that users can use it without problems, I hope you can give me your opinion of this news in the comments.

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It is not a cool start when you think about it!

Right, that would make many potential users think about it before marketing to paypal.

 2 years ago 

Interesting update @roronoa07. Thx for sharing link with me

I thought that Paypal has been very "friendly" towards crypto lately

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