Crypto Sale Funds Hold

[ariesboy33305]

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.

[randoggg]

it makes no sense to hold the funds after a sale.  i bought the crypto using paypal.  now i sold the same crypto using paypal.  i'm not shipping goods or providing services.  what do they need to verify?

i will definitely not be using paypal to buy/sell crypto as they hold your money hostage when you need to actually use it.  i guess i'm moving it al to coinbase.

[recon11]

IT TOOK ALL OF 21 DAYS TO GET MY FUNDS FROM MY SALE OF CRYPTO, JUST PREPARE IT COULD HAPPEN. AND IF YOU CALL PAYPAL SUPPORT BE READY TO EXPLAIN THAT YOU DONT HAVE TO SHIP YOUR CRYPTO .(THIS WILL MAKE SENSE IF YOUVE CALLED)  AND GOOD LUCK .

[TH55]

Add me to the long list of those regretting using PayPal for crypto purchase.  They have my sizable $10K first sale of BTC on hold for 7 days now.  How can they just hold your money without any explanation?  I will will be taking my crypto business elsewhere.

[Tigg999]

I think I know what is going on. And if this doesn't make any sense then my bad.

PayPal doesn't want you to trade crypto on their site.

My understanding is that they paid for all the crypto, and if you are trading then they are the ones who are loosing money.

What they want is for you to buy their crypto and hold it like a bank account.

That is why they will hold sold funds so to keep you from reinvesting to make money.

This to me is the only logical reason why they would put holds on funds.

[AmBull]

Amazing that Paypal is so short sighted.  I hope they get sued!  The "estimated" release date is 6 days away, and there is absolutely nothing I can do about it, except for complaining here.  Not only have they lost my crypto business forever, but also I will be selling all my Paypal stock ASAP.  A bunch of f'in thieves! 

[Love20]

I agree with everyone posting. Sold $3500 worth of BTC and it takes 4-6 days for payment? It’s instantaneous! I can move money from my brokerage to my checking in one day, who the heck holds funds for 5+ days anymore?! Such a scam and then they want $35 to “instantly transfer” the money. I cashed out all my crypto and going to HBTC so I can trade. Even hodling at PayPal sucks because they charge such high fees and a wide spread. I actually sold my PYPL today

[christena1223]

This is a total scam. I would just transfer my funds, by PayPal doesn't allow it. I've paid hundreds in fees to put my money in, $150 to withdraw my funds, I'm going to have to claim on my tax return next year so I'll be charged taxes, AND on top of that **bleep**, they are holding $8,500 for 6 days. I tried to use the PayPal chat, and the response keeps saying "when the funds are already available in your account." I called multiple times and I'm transferred to a message that says they can not assist me with my inquiry via the phone. I've responded to the chat, but the uneducated rep never responds. This is UNACCEPTABLE. I will be telling everyone I know to stay FAR away from PayPal crypto. Most of the money I've made in the past few months has been stolen by PayPal in fees. 

[dadok]

This is happening to me too. Have to pay my rent and was counting on the funds! Unfathomable. They should be upfront about this crazy hold. There's no way to get this problem addressed through customer support either. Nuts and stressful!

[Tmimelda]

Yup same here , I got upset and PayPal told me it’s for security purposes. They hold it for 5 days . PayPal should let ppl know if there will be hold . That’s very frustrating. PayPal also said that they want to make sure that the fund is there meaning that usually ppl charge back after the buy Bitcoin

[Lariosg]

I sold all my crypto because the app sucks! Now some of my money is on hold for days already