What are PYUSD Rewards?
Rewards are accrued based on the average daily balance of PYUSD and paid out monthly in PYUSD directly to your PayPal crypto wallet. If you withdraw all your PYUSD, you will still be paid out any reward that you have earned that month.
The reward rate is variable, and you can view the current rewards rate in the PayPal app or within your account's Crypto section.
Can I get rewards on all cryptocurrencies, or just PYUSD?
Only PYUSD held at PayPal will be used to calculate a customer’s holdings.
How do I get started, and is there a fee?
To get started, you will need to create a PayPal account and set up your crypto account (available in the PayPal app or in the crypto hub on web). There is no fee to participate in PYUSD rewards. Simply opt in and hold a minimum balance of $1 PYUSD. Refer to HELP1005 – What is PayPal USD (PYUSD)? For more information.
For customers based in the US, there needs to be a valid W9 form on file. If you do not have one on file, you will be prompted to complete one when you opt into receiving PYUSD rewards.
Rewards on holding PYUSD is also available in 60+ markets. Tax documentation by region required.
How do I know what rewards I have earned?
You will be able to view pending rewards within Crypto section of your account, which were earned but not yet paid out, and lifetime rewards, which are the balance of all paid-out rewards.
Rewards also appear in statements.
When are the rewards paid out/credited to your wallet?
Rewards are paid out in PYUSD to eligible participants, usually in the first week of the month, but it can take up to 30 days for the reward to reach the user’s PayPal account.
I think I am missing some rewards. What should I do?
Rewards are calculated using your average daily balance, calculated daily, and paid out monthly. Your account should also be in good standing. If you still believe there is a mistake, then Contact Us.
What happens to my pending rewards balance if I want to close my PayPal account?
Customers can opt out of the rewards program at any time, and the rewards earned will be paid as normal. However, if the PayPal account is closed midway through the month, all pending rewards will be forfeited. Visit the Terms and Conditions for more information.
How do I opt out of PYUSD rewards?
Go to the crypto section on the PayPal app or the PayPal website.
- Click the Settings icon.
- Click on PYUSD rewards.
- Toggle your rewards off or back on.
Are there tax implications?
The earnings you receive through PYUSD rewards may qualify as taxable income to you. Customers should consult their own tax advisor regarding the tax consequences (if any) of receiving PYUSD Rewards.
What is the rewards rate for PYUSD Rewards?
The rewards rate can be found on the crypto hub within the PayPal app or on paypal.com. The rewards rate tells you the potential reward you could receive over a year.
Rewards for eligible users are accrued daily based on the PYUSD you hold with us and are paid out monthly in PYUSD. PayPal is a financial technology company, not a bank, and is not FDIC-insured. This is a variable rate and can change at any time. Visit the Terms and Conditions for more information.
Why am I not eligible for PayPal rewards?
Here are some reasons why you may not be eligible for PayPal rewards:
- You live in a jurisdiction where PYUSD rewards is not yet available.
- You do not have an active PayPal account in good standing.
- You are not signed up to buy and sell cryptocurrencies with PayPal opted into receiving rewards.
- You have not completed all tax documentation for your market.
