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Crypto Trading Limit

Rick_Gr
New Community Member

Crypto Trading Limit

When I try to buy Crypto currency (BTC) I receive this msg: These payment methods can't be used for crypto Only confirmed bank accounts, most major debit cards, and a balance with sufficient funds can be used to buy cryptocurrencies. However, both of my bank account are confirmed. How can I raise my trading limit?

6 REPLIES 6
Art626
New Community Member

Re: Crypto Trading Limit

Same issue here. Says only verified bank accounts can be used. Mine is, can't use it anyway, no explanation why. Clicked Money, then Add Money, and got a page stating this:

 

Sorry.

It looks like nothing was found at this location. Maybe try one of the links below or a search?

 

This does not inspire confidence, PayPal. The rest of the software development industry is doing test-driven development and continuous integration so they don't ship horrible bugs to their customers. When are you getting on that train?

Art626
New Community Member

Re: Crypto Trading Limit

Additionally:

 

  • Went to the resolution center in case there were limits on my account. None were displayed.
  • Tried to hit up the chat. No one's available, try again tomorrow. (What???)
  • Tried to add a debit card: "We're sorry. We're not able to process your request right now. Please try again later."
  • Notification (bell icon) pops up. Click it. Notification is the word "OK" and nothing else. Click it. It goes away.
  • Tried logging out and in. No change, everything I need to use is still broken.

Very confusing.

TexasEmily
New Community Member

Re: Crypto Trading Problem

Sometimes my payment options pop right up, sometimes they don't.  My accounts have been in place for years and there is no issue with balances, it simply wouldn't access them.  This is VERY disturbing, since we all know crypto is volatile, and if one is trying to use PayPal to trade crypto, and it doesn't work, that is a HUGE issue and could cost someone a lot of money.  I suspect they don't have an adequate infrastructure in place to handle a crypto market, and better fix it soon or they will lose all credibility.  It makes me so nervous, that I am considering selling all and moving platform where I can actually have control over my money.

Ron-PA
Contributor

Re: Crypto Trading Problem

Same situation here. I use the PayPal app and tried to purchase yesterday and had this issue. Logged out of the app, logged back in and it worked. It had to be coincidence because I’ve been trying again and again today with zero luck. As mentioned above, I’m going to move to a different platform because this is unacceptable!
Ron-PA
Contributor

Re: Crypto Trading Limit

This is a follow up to my recent post. So, I tried to purchase several times and decided enough was enough. My plan was to sell my existing Bitcoin because of this and re-acquire and hold it elsewhere. The price was starting to fall further so I wanted to sell it ASAP. When I tried to sell, PayPal told me I had to update my tax information BEFORE allowing me to sell. What does that have to do with me selling Bitcoin? Furthermore, they felt the process of providing my SSN, etc., was more important than selling my Bitcoin at the moment I wanted to sell it! To add insult to injury, my funds from selling my Bitcoin won’t be available in my PayPal cash account for 96-hours. Are you kidding me PayPal!?!?!? All I can do now is wait until my funds clear some 4-days later but this is just a reminder of how I will NEVER recommend anyone to use PayPal to acquire and hold Bitcoin. I’m totally disgusted. Hope your experience fares better.
Jackscrafts
Contributor

Re: Crypto Trading Limit

This is very frustrating. I bought some yesterday with my debit card and today it says I can not use it or my checking account. And I did not realize you can not sell one to buy another a few minutes later. WTH PayPal?

 

At least I found out here the problems are with PayPal's system and nothing to do with my debit card or checking account.

 

But with the price fluctuations of Crypto, you have to be able to buy and sell when you want.