When we last spoke about PayPal officially enabling the purchase of Bitcoin, Ethereum, and alts onto their platform, I expressed my wariness and reluctance to fully embrace their new move as one that'd benefit us as a whole.
Today they proved me right, as a user recently complained to Reddit how he's now locked out of his account for 180 days with $462 still remaining on the account. Those of us who are well aware of PayPal's f*ckery, know how they love to lock your funds upon their platform for an indefinite period.
This is a warning to anyone who thinks they can use PayPal to trade crypto, DON'T. Don't even buy any crypto on Paypal. My personal experience with Paypal is they steal people's money and then pretend they're "holding it." That's why they love putting peoples' money on hold as much as they can. In my opinion, it's most likely to fudge numbers and inflate their quarterly reports.
Remember the wise adage "not your keys, not your crypto." Paypal doesn't even let you withdraw the BTC you buy. They want people to buy Bitcoin for them to own and hold, similar to a bank. This goes against why people got into crypto, to begin with.
Crypto is about self-governance, people taking control of their wealth, and being apart of a global community where it's the people supporting the people, whether it's through lending or borrowing and buying or selling.
If you're new to crypto and want to catch up, I've created a crypto dictionary, free for all of my Vanguardian subscribers. Click here to subscribe and get your free dictionary. It's time for you to take back control of your money, and ultimately, your life.