PayPal delays in a crypto environment-may leave you hanging
PayPal delays in a crypto environment-may leave you hanging
I admit I didn’t think thru using PayPal when their new crypto opened . I had used PayPal to route money swiftly to the crypto exchange I started on – but PayPal stopped allowing that when they opened crypto platform. About three weeks ago .
Hers the problem -even on a good day to move money from bank to PayPal account is five days ! It leaves bank on day one and PayPal is using four days of interest building before it hits your account. Same if you send money from PayPal to bank . So if you use PayPal crypto platform and you buy- and make a profit and then you sell – you can’t get that profit into your hands for five to six days . Now that can be a long time if you plan your reinvest that profit on the next downturn! In the new crypto culture of immediate funding, PayPal is taking advantage in my opinion.
What is best practice for moving funds from crypto to banks ?
Absolutely do not use PayPal for crypto. Or anything else you can avoid honestly. They never accept responsibility for anything, even when it’s actually their fault and documented. With crypto this means if you lose it, you’ll never get it back. I highly advise avoiding PayPal for anything, especially crypto.