A Reddit user has claimed they have been “permanently banned” from the PayPal platform “due to cryptocurrency buy/sells being treated as ‘item sales.’”
Per a thread created by the Redditor, the PayPal customer claimed that they wanted others to be aware of what they called an “ignorance-fueled misunderstanding,” and claimed that they did not exceed any of PayPal’s transaction limit thresholds, instead buying and selling “USD 10,000 worth of crypto throughout the week” at a rate of “less than USD 500 per transaction.”
The Redditor claimed that they had been unable to speak to customer services representative about the matter and wrote,
“This is why I don’t trust PayPal and their centralized design. They already suck with eBay transactions: How does crypto make it any different for them? Can already see people buying crypto and getting banned from them for some really dumb shit and them kicking you off and keeping your crypto.”
Another opined that PayPal’s decision to freeze accounts for 180 days when the platform detects what it determines is unusual behavior “could be enough to stop you cashing out life-changing sums during a bull run.”
And another opined that the rules that the financial sector needs to abide by simply do not apply to platforms like PayPal, writing,
