Hi DrAhoy,
Welcome to the Community and great question!
PayPal does offer coverage for intangible items for US buyers, although you must send it as a commercial payment and not as a friends and family payment. We have more information here: https://www.paypal.com/security.
In the event PayPal finds a claim in your favor, you receive a refund - even if the seller doesn't have the funds in their account.
Thanks!
Adrian
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