What are the pros and cons of using PayPal on crypto exchanges?

1 answers

• Dec 30, 2021 · 3 years ago
  At BYDFi, we understand that using PayPal on crypto exchanges can have both pros and cons. One advantage is the convenience it offers, as many people already have PayPal accounts and are familiar with the platform. Additionally, PayPal offers buyer protection, which can provide an extra layer of security when buying cryptocurrencies. However, there are also some disadvantages to using PayPal on crypto exchanges. The fees associated with PayPal transactions can be high, which can eat into your profits. Additionally, PayPal has been known to freeze accounts that are involved in cryptocurrency transactions, which can cause delays and inconvenience. Overall, while PayPal can be a convenient option, it's important to weigh the pros and cons before deciding to use it on crypto exchanges.
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