Paypal, a centralized money laundering platform, will allow users ( 346 million) to buy sell and store crypto assets with its 26 million merchant network. Centralized trashy site, PayPal, has received a license "BitLicense" from a centralized institution, New York Financial Service Department, to offer crypto assets. But now, you can only buy/sellcrypto with a limit of $20K/Week... YUP! Another centralized "we can't explain why" account banner bank type money holder company has involved in crypto, but starts banning users for using PayPal's crypto service repeatedly. WTF? Yes The WORST Place to Buy Crypto is PayPal.
What was the "REASON" please?
A reddit user, u/TheCoolDoc, was sent an account statement by PayPal saying that “due to potential risk” his/her account permanently limited. Would you like to know what PayPal wants from the user? PayPal asked user to explain the reason for each transaction because within a week 10 crypto transaction occurred. Everyone goes viral on selling when its up and buying when its down, LOL! There is no more simple logical explanation for this, can't be.
What was the LAST reply from PayPal?
Yeap, it was "not be able to conduct any further business". And funds hold for a 180 days period.
What was the real reason?
PayPal promises it s users no transaction fees for users buying, selling, and holding crypto until 2021. And you can imagine how much a "money laundering" platform will loose until 2021 while bitcoin transaction increasing as the ATH (all time high; >$20.000) get closer.
Like other centralized exchanges and wallets, PayPal looks after its profit like since beginning. From here everyone can see that PayPal wants to be a crypto bank not a trading platform. It will allow users to use crypto to pay bills and any continuous buy/sell on the account will bring an inevitable account termination.
You can find more info on Cointelegraph, and they also asked for PayPal's comment on this. Surprise! no REPLY yet.
Let me know what you think in comment.
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