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Crypto Sale Funds Hold

ariesboy33305
Contributor

Crypto Sale Funds Hold

Why is crypto sale funds being held again for three days? It was my understanding that the hold was more for your first crypto sale, but NOT for every other transaction!  My last sale of ETH was for a larger amount, and that went immediately to my PayPal balance. I made this transaction logged into my personal Paypal account and it verified me using both facial ID and password. I am now losing money on a reinvestment opportunity due to hold and I was planning on doing this transaction on PayPal as well.  It's only $1,500 and not some five or six-figure transaction which would be more understandable.   This is no different than ransomware and feels more like short-term theft by PayPal....hope the mainstream media doesn't get ahold of this.   Is there a way of knowing BEFORE I do a sale if the funds are going to be held from me or not??  And I have read the 'Cryptocurrency on PayPal FAQ' which was not helpful.  And my app seems to think that this was an eBay transaction and I need to update my shipping address to get my money???!  I bought and sold crypto on CashApp and funds were always available instantly because I was verified by the app.  That's the point of verification....so we don't get our funds held from us.  It appears that PayPal is 'floating' our money for short-term investments of their own.  I would much rather pay fee for the transaction in exchange for not having the funds withheld from me and causing me to potentially lose hundreds in a missed re-investment opportunity.  So far, not a good experience on Paypal Crypto compared to other exchanges.   Also, it appears that resolution center is not accepting new tickets....keeps saying there is something wrong on their end.   Yeah, right!   Thank you for you prompt attention to this issue.

52 REPLIES 52
Hammthbven
New Community Member

Re: Crypto Sale Funds Hold

I just sold my first crypto. and my funds are on hold. I guess if its only for 3 days thats not too bad. But I dont like theres a hold. Hope this doesnt happen going forward. 

Radhika80
Contributor

Re: Crypto Sale Funds Hold

Same thing happened to me. Twice in a row after being able to buy and sell a few times this past week. I was just getting the hang of it too. Decided to look into Robinhood and it’s much better. Venmo is better as well for PayPal transactions. It seems PayPal might just be in the eBay business. Would not recommend crypto trades on PayPal. The hold indefinitely feels illegal.
EFerrell
Contributor

Re: Crypto Sale Funds Hold

I have same issue.  Does not seem equitable.  Paypall knows the money is there, since they sold the Crypto.

ContentMassoud
Contributor

Re: Crypto Sale Funds Hold

Ive just had the same exact issue. Were you able to get your funds released? How long did it take? 

r2w-user
Member

Re: Crypto Sale Funds Hold

4 days and counting... I don't know when I'll have access to my funds... I'll be selling it all and moving elsewhere, but having this on hold for up to a week can mean hundreds of dollars in losses

Skuder
Contributor

Re: Crypto Sale Funds Hold

Me too! They didn’t hold my money when I bought the crypto currency from their site but they want to hold it now that I’ve sold it. WRONG there are other sites that don’t do this. Guess they don’t mind losing my business going forward.
ContentMassoud
Contributor

Re: Crypto Sale Funds Hold

PayPal just lost a crypto customer for life.

r2w-user
Member

Re: Crypto Sale Funds Hold

same here... can wait to get all my funds out and onto another platform

Skuder
Contributor

Re: Crypto Sale Funds Hold

Me too