Crypto Sale Funds Hold

ariesboy33305
Contributor
Contributor

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.

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81 REPLIES 81

r2w-user
Member
Member

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

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Skuder
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CarterM72
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Contributor

Same issue.  I have sold out of 100% of my PayPal crypto and moved to Coinbase never to return.  Much better service that ACTUALLY GETS WHAT CRYPTO IS ABOUT and makes it easy.  Holding your funds makes PayPal a worthless wallet for Crypto.  Don't use it.

 

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KCretro
Contributor
Contributor
I was told it would be a 10-day hold on funds from a Bitcoin sale that I wanted to roll over to ethereum when I made the sale the system told me the funds would be available momentarily in my PayPal account when I reviewed signing up with PayPal their propaganda told me when I sold my funds would be available immediately in my PayPal account very upset this is not the case PayPal now has the float of my money for 10 days
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r2w-user
Member
Member

10 days on hold for crypto can mean hundreds of dollars in losses... Very bad from PayPal... they need to be sued.

Customer service is not helpful, as they only talk about 'shipping carriers' 'waiting ro buyer to garity the item'.... none of that applies.

 

Paypal is not ready for being in the crypto business. can't wait to get it all out

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SamP89
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Contributor

Hi guys, did you receive your money? i haven't received mine and it was quite a large sum too. just wondering how long you waited?

@ariesboy33305 @stroker15 @Iggyp06 @PeruvianHghlndr @KCretro 

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stroker15
Contributor
Contributor

SamP89.  I got my money.  It was held for exactly 72 hours.  I made a sale after that and the funds were immediately available.  So it is unclear whether a hold will happen all the time or just randomly.  

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SamP89
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So I sent £3000 from Coinbase to PayPal and still after 3hours PayPal haven’t received it. I’m worried it was lost as I have called PayPal and there is no pending incoming transactions. Should I wait 24hours or contact Coinbase?
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stroker15
Contributor
Contributor

An ACH transfer from Coinbase to Paypal could take up to 3 days.  Check coinbase and see how long the transfer should take.  I'm sure coinbase has that information somewhere.  Transferring money from coinbase to your bank or Paypal doesn't happen instantly, unless you specifically select an instant transfer and pay the added fee, if instant transfer is an available option.  

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SamP89
Contributor
Contributor
Thanks for the info man. I sent £1 from my account to PayPal as a test and it was instant. I’m hoping it’s taking longer due to the large sum of money. Fingers crossed 🤞
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