Cryptocurrency on PayPal - Purchase issues and Buyer Protection
I made a Cryptocurrency purchase in error - can I cancel or reverse it?
There isn't a way to cancel or reverse Cryptocurrency transactions. Click here for more information on Error Resolution.
Are Cryptocurrency purchases covered by PayPal Buyer Protection?
Cryptocurrency purchases are protected in the event unauthorized activity takes place.
Will PayPal cover losses from fraud on its Cryptocurrency service?
As part of PayPal's commitment to protecting its users, PayPal won’t hold customers liable for Crypto purchases or sales made as a result of unauthorized activity in their PayPal account.
PayPal won’t cover losses from Cryptocurrency price fluctuations and we recommend that customers make sure that purchasing Crypto is right for their individual financial situations. Since Crypto purchases and sales aren't reversible, PayPal urges customers to do their research and make decisions carefully.
Will PayPal protect my Cryptocurrency?
PayPal works 24/7 to prevent theft and fraud. If you suspect fraudulent activity on your account, please contact customer service by visiting our Contact Center or call (888) 221-1161 immediately to report it, and we’ll review your account activity.
What we can't protect you from are losses that result from Cryptocurrency price fluctuations. Cryptocurrency is very volatile, and we suggest that you speak with a financial advisor or tax specialist to advise you.
I lost money on my Cryptocurrency purchase. What can I do?
We recommend you speak to a financial advisor as we’re unable to offer financial advice.
Will I pay tax on Cryptocurrency profits?
For any tax advice, you would need to speak with a tax expert.
Why is there an exchange rate for Cryptocurrency?
Since Crypto is digital money, you're essentially swapping one currency for another when you buy and sell it. The exchange rate tells you how much Crypto or dollars you'll get in the swap and refreshes often because the value of Crypto is constantly changing.