BUYING AND SELLING CRYPTOCURRENCY IS SUBJECT TO A NUMBER OF RISKS AND MAY RESULT IN SIGNIFICANT LOSSES. PAYPAL DOES NOT MAKE ANY RECOMMENDATIONS REGARDING BUYING OR SELLING CRYPTOCURRENCY. CONSIDER SEEKING ADVICE FROM YOUR FINANCIAL ADVISOR. Buying, selling, and holding cryptocurrencies is not regulated in many states, including the State of California. PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Buying, selling and holding cryptocurrency with PayPal is not available in Hawaii and where prohibited by law.
By participating in this referral program (the "Program"), you agree to the following terms and conditions. PayPal may at any time and in its sole discretion, without prior notice, terminate, cancel, suspend or modify the Program or these terms.
The Program allows you to invite people you know to purchase crypto with PayPal. As more fully detailed below, you can earn a reward when friends you invite to purchase crypto with PayPal for the first time: (1) sign up for or convert to a Valid Account (if they do not already have one), and (2) complete a qualifying crypto purchase via PayPal. If you are the person inviting friends to buy crypto, you are a "referrer" under these terms, and if you are a person who receives an invitation, you are a "referee".
Eligibility and Overview
- You may participate in this Program as a referrer until the Program is terminated or modified by PayPal. If you refer a referee prior to PayPal’s termination or modification of the program, you will still be eligible to earn the reward described below even if the referee completes the required actions after such termination or modification.
- To be eligible to earn rewards through the Program, each referrer and referee must: (1) have a PayPal Balance account ("Valid Account") that remains in good standing from the time of participation through when reward(s) are issued (if you do not have a Valid Account, you may open or convert to a PayPal Balance account); (2) be a legal resident of any one of the 48 contiguous United States, D.C. or Alaska (residents of Hawaii are not eligible to participate); and (3) be at least eighteen (18) years of age. Referees are only eligible if they have not made a prior purchase of cryptocurrency via PayPal.
- A referrer may refer a referee by inviting the referee to buy cryptocurrency with PayPal through the Program referral link generated via the PayPal app or website. Subject to verification, the referrer and referee will each earn the reward after the referee completes all of the following steps via the referral link: (i) sign up for or convert to a Valid Account, if they do not already have one; if they have not already done so; and (ii) purchase $5 USD or more (excluding fees) of cryptocurrency via PayPal for the first time. All types of cryptocurrency available via PayPal are eligible.
- The following do not count as eligible crypto purchases: (1) transactions that have been cancelled, refunded, or reversed; (2) purchase(s) of cryptocurrency made through any other service other than PayPal; (3) purchase(s) of two or more different types of cryptocurrencies equaling five ($5) USD or more; or (4) purchases that are made directly and not accessed via the referral link.
- You may only refer family and personal friends and acquaintances. Additionally, you must not publish or distribute the invitation to participate that you received from PayPal in public locations (online or otherwise) where the audience is likely to include people who are not your family or personal friends/acquaintances. If you do so, PayPal may disqualify you from participation in the Program and any successful referrals will be void, in PayPal’s sole discretion.
Reward:The reward amount is $10 USD. There is a limit of one (1) reward per referee Valid Account for the duration of the Program and five (5) rewards per referrer Valid Account per calendar year for the duration of the Program. Referees who earn a reward are also eligible to receive up to five (5) rewards per calendar year as a referrer. Rewards should post to your account within approximately twenty-four (24) hours, but may take up to two weeks.
Receiving and Using Rewards
- PayPal reserves the right to limit, cancel, or revoke a reward if PayPal determines, in its sole discretion, that you have violated these terms and conditions, or if we restrict or close your account pursuant to our User Agreement.
- PayPal may provide an alternate reward of equal value if it is unable for any reason to fulfil the reward. PayPal is not responsible and/or liable if any e-mail, reward, referrals, or Program-related materials or correspondence are lost, fraudulent, abusive, stolen, late, incomplete, illegible, interrupted, delayed, altered, defective, misdirected, tampered with, or irregular in any way or if any participant’s e-mail address, Valid Account, or other contact information does not work, is deleted, or is changed without participant giving prior written notice to PayPal. PayPal reserves the right to review any account or transaction related to this Program, in its sole discretion, without notice, and reverse or delay completion of the reward.
- Program is void where prohibited or if Eligible Participant’s account or transaction are fraudulent, abusive, not completed through legitimate channels, or irregular in any way.
- This Promotion is governed by California law. By entering, entrants agree to be bound by these terms and conditions and the PayPal User Agreement. Any questions relating to the offer will be resolved in PayPal’s sole discretion and its decisions related to the offer will be final and binding.