Last updated on 3 March 2026
Last updated on 3 March 2026
The Monetary Authority of Singapore (“MAS”) requires us to provide this risk warning to you as a customer of a digital payment token (“DPT”) service provider. DPTs refer to digital payment tokens within the meaning given in the Payment Services Act 2019, which are supported by PayPal Pte. Ltd (hereinafter referred to as “PayPal”, “we”, “us”, or “our”), as may be added, removed or replaced from time to time.
Before you:
you should be aware of the following:
| 1 |
PayPal is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to PayPal or any other third party referred to above, if PayPal or the third party's business fails. |
| 1A | You should be aware that MAS does not supervise or regulate PayPal for the provision of unregulated services. This includes any service of trading digital payment token derivatives such as futures. |
| 2 | You should not transact in a DPT if you are not familiar with the DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by PayPal. |
| 3 | You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens. |
| 4 | You should be aware that PayPal, as part of its license to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as "stablecoin". |
Please note that the above risk warning also applies to your payment of money or DPT to any third party under any agreement you entered into (a) upon inducement by PayPal for such third party to buy or sell DPTs; or (b) under an arrangement by PayPal for the transmission of your DPTs.
IF YOU HAVE QUESTIONS OR CONCERNS REGARDING YOUR CRYPTO CURRENCIES HUB, YOUR CRYPTO ASSETS, OUR SERVICE PROVIDER(S), OR RELATED TRANSACTIONS OR ACCOUNT ACTIVITY, PLEASE CONTACT PAYPAL CUSTOMER SERVICE OR CALL: 65-6510-4650.
These terms and conditions (“Cryptocurrency Terms”) are between you and PayPal, a Singaporean company, and govern your establishment and use of the portion of your account where you can hold, transact in, and learn about cryptocurrency (your “Cryptocurrencies Hub”).
If you are an individual, you must be a resident of one of the countries/regions where PayPal makes Crypto services available and at least 18 years old, or the age of majority in your country/region of residence, to access a Cryptocurrencies Hub established within your personal PayPal account (the “Consumer Cryptocurrencies Hub”) and use the related services.
To access the Cryptocurrencies Hub within your PayPal Business Account (the “Business Cryptocurrencies Hub”) and use the related services, the business must be organized in, operating in, or a resident of one of the countries/regions where PayPal makes crypto services available. If you establish a Business Cryptocurrencies Hub, you certify that you will use it primarily for a business or commercial purpose.
Service availability varies by country/region and may change at any time. You can confirm whether these services are available to you by logging into your PayPal account and accessing your dashboard. If the Consumer Cryptocurrencies Hub, Business Cryptocurrencies Hub or PYUSD functionality is visible, it is available to you, subject to these Terms.
By accessing and using the Cryptocurrencies Hub, you agree to comply with all applicable aspects of these Cryptocurrency Terms.
In addition, you agree to comply with the following additional policies and each of the other agreements on the Legal Agreements page that apply to you, including:
Please read carefully all of these Cryptocurrency Terms and each of the other agreements and policies that apply to you, including our Privacy Statement, which applies to the transaction and activity data we collect involving your Cryptocurrencies Hub.
Any capitalized terms used but not defined herein will have the meaning set out in the PayPal Account User Agreement. If there is any conflict between the PayPal Account User Agreement and these Cryptocurrency Terms, these Cryptocurrency Terms will govern and apply to the extent of such conflict.
We may revise these Cryptocurrency Terms and any of the agreements and policies listed above from time to time. The revised version will be effective at the time we post it on our website, unless otherwise noted. If our changes to these Cryptocurrency Terms reduce your rights or increase your responsibilities, we will post a notice on the Policy Updates page of our website and provide you at least 14 days' advance notice, or such longer period as required by law. All future changes set out in the Policy Updates page already published on the Legal Agreements page at the time you access and use the Cryptocurrencies Hub are incorporated by reference into these Terms and will take effect as specified in the Policy Update. By continuing to use our services, including by holding Crypto Assets (as defined below), after any change to these Cryptocurrency Terms, you agree to abide by and be bound by those changes. If you do not agree with any changes to these Cryptocurrency Terms, you must sell or transfer your Crypto Assets and stop accessing your Cryptocurrencies Hub. These Terms will continue to apply to your previous use of the Cryptocurrencies Hub. If there is a hold on your account, you may be able to sell, but not transfer, your Crypto Assets. Please note that there may be tax consequences when you sell and in certain situations when you transfer or receive Crypto Assets.
PayPal has obtained a Major Payment Institution (“MPI”) license from the Monetary Authority of Singapore ("MAS”) to provide account-issuance service, domestic money transfer service, cross-border money transfer service, merchant acquisition service, e-money issuance service and digital payment token service. PayPal is based in and provides its services from Singapore. Our services are provided over the internet, and our service availability varies by country/region. You can see what services are available in your country/region by logging into your PayPal account.
These Cryptocurrency Terms do not constitute solicitation of any of PayPal’s services and PayPal is not targeting any country/region or market through these Terms. Service availability varies by country/region and may change at any time. PayPal determines service availability at its discretion and may enable or disable access based on regulatory, licensing, risk, or operational considerations.
If you establish and access the Cryptocurrencies Hub, you will be able to hold a Crypto Asset balance, as well as buy, sell, receive and send Crypto Assets. A Consumer Cryptocurrencies Hub can also be used to sell Crypto Assets in transactions where the proceeds will be used to pay for purchases through PayPal.
Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each Crypto Asset shown. You will not hold the digital Crypto Assets themselves in your Crypto Asset balance. Some custody, trading, and transfer services for Crypto Assets are performed for us by Paxos Trust Company, LLC (“Paxos”), Paxos Global Pte Ltd (“Paxos SG”) or other appropriately licensed or otherwise authorized service provider (each, including Paxos, a "Service Provider"). Your use of the Cryptocurrencies Hub may depend on you having a PayPal account in good standing, and us verifying the required identifying information you provide to us.
We will automatically link your Cryptocurrencies Hub to your PayPal account. Your login credentials for your PayPal account act as the credentials to access your Cryptocurrencies Hub.
Before you are able to first access your Cryptocurrencies Hub, we must verify or have previously verified the required identifying information that you provide to us. The required identifying information is:
We may require additional information from you from time to time in order to verify the required identifying information, such as a copy of your government-issued photo ID or evidence of your residency (e.g. a utility bill).
We may also request that you provide a picture of your face or other biometric information for identity verification purposes. If required, we will offer you an alternative to providing biometric information.
You are responsible for maintaining adequate security and control of all IDs, passwords, personal identification numbers, or any other codes that you use to access your Cryptocurrencies Hub and the PayPal services. You agree to keep your physical address, mailing address, email address and other personal and contact information current in your PayPal profile.
You can close your Consumer Cryptocurrencies Hub without closing your personal PayPal account. Closing your personal PayPal account will automatically close your Consumer Cryptocurrencies Hub.
You can close your Business Cryptocurrencies Hub without closing your Business Account. Closing your Business Account will automatically close your Business Cryptocurrencies Hub.
You can view more information about what happens if PayPal closes your Cryptocurrencies Hub here.
You can terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your Cryptocurrencies Hub and PayPal account even after those accounts are closed. You must sell or transfer any Crypto Assets in your Cryptocurrencies Hub before closing your Cryptocurrencies Hub.
As described in more detail below, here are some things you can do with the Cryptocurrencies Hub:
The term "Crypto Assets" means the particular digital assets that PayPal supports and that you may buy, sell, hold or transfer using your Cryptocurrencies Hub. The list of Crypto Assets supported by PayPal at any given time can be found in your Cryptocurrencies Hub. You cannot use your Cryptocurrencies Hub to hold any digital assets other than the supported Crypto Assets.
You should not attempt to use your Cryptocurrencies Hub to hold, receive or request any digital assets other than the Crypto Assets supported by PayPal. If you attempt to receive or hold digital assets in your Cryptocurrencies Hub that are not supported by PayPal, or someone attempts to send such unsupported digital assets to you (including via an airdrop), they will be permanently lost. PayPal is not responsible or liable to you for any losses or damages which may occur as a result of any attempt to use the Cryptocurrencies Hub with any digital asset we do not support.
One of the Crypto Assets that PayPal supports is PYUSD, a U.S. dollar-denominated stablecoin. PYUSD is issued by Paxos, not PayPal, on each of the Ethereum, Solana, and Arbitrum cryptocurrency networks (each a “PYUSD Supported Blockchain”) and is subject to the Paxos US Dollar-Backed Stablecoin Terms and Conditions (the “Paxos Terms”). You should read the Paxos Terms carefully. By purchasing, receiving or holding PYUSD, you are agreeing to the Paxos Terms.
The Paxos Terms contain important information about your use of PYUSD, including Paxos’s obligation to ensure that PYUSD is fully backed by an equivalent amount of U.S. dollar bank deposits, U.S. Treasuries guaranteed by the full faith and credit of the United States Government, and U.S. Treasury reverse repurchase agreements held in custody by Paxos for the benefit of PYUSD holders. The reserve assets that back PYUSD will not include money-market funds. Paxos may hold such assets in a manner that generates interest and other earnings, in which case, you agree that Paxos may deduct from the assets it holds to support PYUSD the amount of any such interest and earnings attributable or allocable to the assets backing your PYUSD as payment for the custody services provided by Paxos, and you agree that Paxos may share such amount with PayPal. You are not entitled to any interest or other earnings that may be generated on the assets backing your PYUSD.
PYUSD is different than other Crypto Assets. Regardless of the price of PYUSD in the market, if PayPal buys your PYUSD token in your Cryptocurrencies Hub, the price will be $1.00 U.S. dollar per token. When you buy or sell PYUSD in your Cryptocurrencies Hub, PayPal will satisfy your order by buying PYUSD from or selling PYUSD to Paxos, the issuer of PYUSD. Paxos is obligated to buy and sell PYUSD to and from PayPal at a stable price of $1.00 U.S. dollar per PYUSD token.
You may redeem PYUSD directly with Paxos for a price of $1.00 U.S. dollar, subject to the Paxos Terms. You should review the Paxos Terms carefully to understand your rights to redeem your PYUSD with Paxos.
PayPal may stop supporting PYUSD at any time. PayPal may, but is not obligated to, provide you notice prior to terminating support of PYUSD as a Crypto Asset. You must sell or transfer to an external digital asset wallet any PYUSD token in your Cryptocurrencies Hub that PayPal has communicated it will no longer support within 30 days of notification.
PayPal does not guarantee Paxos’s performance or obligations. Please read the RISK DISCLOSURES for more information.
PayPal receives fiat currency from you for the purposes of providing digital payment token services to you. To the extent that such fiat currency is not used to purchase Crypto Assets, your funds will be safeguarded in accordance with the terms of the PayPal Account User Agreement.
Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each type of Crypto Asset shown. PayPal combines your Crypto Asset balance with the Crypto Asset balances of other PayPal account holders and holds those Crypto Assets as your agent in one or more omnibus accounts, directly or with a Service Provider. We keep a record of your interest in any omnibus account based on the amount of each type of Crypto Asset that is reflected in your balance. You do not own any specific, identifiable, Crypto Asset. Your entitlement is recorded based on the amount and type of each Crypto Asset reflected in your Cryptocurrencies Hub balance, which also displays the corresponding U.S. dollar value. Any entitlements accruing to you will be reflected in your account in real time and you retain full ownership over such entitlements. Any PYUSD balance reflected in your Cryptocurrencies Hub will not indicate a particular blockchain and may be issued by Paxos in its sole discretion on any PYUSD Supported Blockchain. These Crypto Assets are held apart from PayPal's corporate assets and PayPal will not use these assets for its operating expenses or any other corporate or business purposes, nor will it voluntarily make these Crypto Assets available to its creditors in the event of bankruptcy.
When you view your Cryptocurrencies Hub balance, we will show you the amount of each type of Crypto Asset you own, as well as a U.S. dollar equivalent value of those Crypto Assets. The price of Crypto Assets generally may rise and fall over time, and the price may sometimes change quickly and dramatically. So, even if the number of each type of Crypto Assets you hold remains the same, the U.S. dollar equivalent value will change as the market price of each Crypto Asset fluctuates. The U.S. dollar value we display is an estimate based on market data from a Service Provider. The value we show is the midpoint between the lowest recent sale price at which the applicable cryptocurrency was offered for sale and the highest recent price at which that same cryptocurrency was purchased, as reported by a Service Provider. This estimate does not represent the value you will receive if you actually sell your Crypto Assets or the price you will pay to buy more Crypto Assets and does not include our spread or fees.
PayPal safeguards your Crypto Assets in trust accounts maintained with one or more safeguarding institutions, which serve as PayPal’s Service Providers. These Service Providers hold and record your Crypto Assets strictly in accordance with PayPal's instructions, and your Crypto Assets will be kept separate from any assets belonging to the Service Providers. The Service Providers must provide sufficient information to PayPal on a timely basis as PayPal may reasonably require to comply with its record-keeping obligations under any written law. The Service Providers must not permit any withdrawal of your DPTs from the trust account, except for delivery of your DPTs to PayPal or to any other person upon receipt of PayPal's written instructions.
If PayPal becomes insolvent, you will not have a legal claim to any specific Crypto Asset. Your claim will be against the omnibus account as a whole, and in the event of an unreconciled shortfall you may receive only a proportionate share of the available balance. Trust accounts may be located outside Singapore, and foreign laws or procedures may delay or otherwise affect recovery of your assets, including the need to obtain regulatory approvals, complete foreign court processes, or comply with intervening changes in applicable insolvency laws. If the Service Provider or Safeguarding Person is in default of any obligation in relation to the safeguarding of your Crypto Assets, there is a risk that you may not be able to recover all of the Crypto Assets that are held in trust accounts on your behalf.
PayPal remains liable to you for any loss of your Crypto Assets that are held in trust accounts which arises from any fraud, negligence, default, or wrongful act on the part of the Service Provider appointed to safeguard such assets. PayPal is also liable to you for any loss of your Crypto Assets that arises from fraud or negligence on the part of PayPal or its employees, and such losses will be compensated in accordance with the compensation framework for unauthorised transactions.
If our internal investigation determines that your loss of Crypto Assets was caused by the fraud, negligence, or default of PayPal or any of our employees, we will compensate you for the full value of the lost Crypto Assets as at the time the loss is discovered, to the extent of our responsibility for the loss. PayPal does not charge any fees for safeguarding your Crypto Assets.
PayPal will not be liable for losses caused solely by events outside our control, including network-wide incidents, systemic blockchain failures, or changes in law or regulation that prevent us from continuing to provide our services. PayPal will not be liable for any indirect losses. Any other losses that do not arise from fraud, negligence, or default on the part of PayPal or the Service Provider will be subject to the exclusions and limitations set out in Liability for Unauthorized Transactions, Errors and Support.
PayPal will not take or hold your Crypto Assets as collateral for any liability you owe to PayPal unless otherwise provided in these Cryptocurrency Terms, or pursuant to your instruction or a court order. The fact that your Crypto Assets are held in trust accounts does not affect any right of set off that PayPal may have in respect of sums owed by you.
All instructions to or from PayPal relating to your Crypto Assets must be provided through the digital platform. PayPal does not permit your giving authority to another person to give or receive instructions from PayPal. You may not authorise any third party to give or receive instructions to PayPal on your behalf. You may contact PayPal for further information regarding the holding of your Crypto Assets.
PYUSD IS NOT LEGAL TENDER. PAYPAL IS A FINANCIAL TECHNOLOGY COMPANY, NOT A BANK. YOUR CRYPTOCURRENCIES HUB IS NOT A DEPOSIT ACCOUNT AND YOUR PYUSD ARE NOT DEPOSITS. PAYPAL DOES NOT INTEND FOR PYUSD REWARDS TO CONSTITUTE A SECURITIES OFFERING AND PARTICIPATION IN THE LOYALTY PROGRAM IS NOT AN INVESTMENT IN A SECURITIES OFFERING.
PayPal may offer you the ability to elect to participate in the PYUSD rewards program (“PYUSD Rewards Program”) to earn rewards of PYUSD based on the amount of PYUSD held in your Cryptocurrencies Hub (“PYUSD Rewards”). You may only elect to participate in PYUSD Rewards if your account opening location is not Singapore, and if you are “Eligible”, which means you have a:
While you participate in the PYUSD Rewards Program, you will accrue PYUSD Rewards calculated as described below, as long as you hold at least 1.0 PYUSD in your Cryptocurrencies Hub. If at any time you hold less than 1.0 PYUSD, you will not continue to accrue PYUSD Rewards. PayPal will aim to credit accrued rewards into your Cryptocurrencies Hub at the beginning of each month, but will, at the latest, credit such accrued rewards into your Cryptocurrencies Hub within thirty (30) calendar days after the start of the next calendar month as long as you remain Eligible at the time of crediting. If you are not Eligible at the time of crediting, your accrued PYUSD Rewards will not be credited to your Cryptocurrencies Hub, and we will retain your accrued PYUSD Rewards until the next scheduled settlement date when you are Eligible.
You will not earn PYUSD Rewards on amounts of PYUSD Rewards that have accrued but have not yet been credited to your Cryptocurrencies Hub. You can opt-out of the PYUSD Rewards Program at any time, in which case, you will stop accruing PYUSD Rewards, and any previously accrued amounts will be credited to your Cryptocurrencies Hub on the next scheduled payment date in which you are Eligible.
If you close your Cryptocurrencies Hub, you will forfeit any accrued PYUSD Rewards that have not yet been credited to your Cryptocurrencies Hub.
Benefits you receive through the payout of PYUSD Rewards may qualify as reportable by PayPal and taxable income to you under applicable law. You are solely responsible for any tax liability incurred in connection with your participation in the PYUSD Rewards Program.
PYUSD Rewards are accrued on a daily basis in the form of PYUSD at the then current “PYUSD Rewards Rate”, which is an annual rate of rewards earned on PYUSD held in your Cryptocurrencies Hub (as long as you hold at least 1.0 PYUSD) and is non-compounding. To calculate your PYUSD Rewards, we apply a daily periodic rate (the PYUSD Rewards Rate divided by 365) to the average balance of PYUSD you hold during each day of the month. PYUSD Rewards will begin to accrue on PYUSD the same day as such PYUSD is reflected in your Cryptocurrencies Hub. PYUSD Rewards are rounded down to the nearest sixth decimal place, though in most places in the Cryptocurrencies Hub, we will display your PYUSD amount rounded to two decimal places.
In your Cryptocurrencies Hub, your “Pending Rewards” will be displayed to you, which are the amount of PYUSD Rewards you have accrued as of the end of the prior calendar day that have not yet been credited to your Cryptocurrencies Hub.
The PYUSD Rewards Rate will be determined at all times in our sole discretion and is not guaranteed. We reserve the right to change the PYUSD Rewards Rate at any time by email notification and by other reasonable means of notice, and the effective date of that change will be the date specified in such notice. We may change the terms of the PYUSD Rewards Program, or terminate the PYUSD Rewards Program, or your participation in the PYUSD Rewards Program, at any time (i) upon notice to you or (ii) if the PYUSD Rewards Program is no longer available to you under applicable law.
You may use your Cryptocurrencies Hub to buy Crypto Assets using the following funding sources:
We do not currently allow use of a credit card or other credit products (including, without limitation, those offered by PayPal) to purchase Crypto Assets.
To buy Crypto Assets, PayPal will first show you the amount of Crypto Assets you would receive in exchange for the amount of money that you wish to spend. Because the price of most Crypto Assets fluctuates, the price we provide will only be valid for a limited time. If the price we provided expires, you won't be able to complete your transaction at that price. If you still want to buy Crypto Assets, we will provide you with updated pricing information. The updated price you see may be much higher than the price that just expired. This is because most Crypto Assets are inherently volatile. The price of PYUSD, unlike other Crypto Assets, will remain fixed at $1.00 U.S. dollar per PYUSD token when bought from or sold to PayPal on the Cryptocurrencies Hub. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will then execute and settle your purchase with our Service Provider.
Once you confirm your purchase, your transaction is not reversible. If we cannot complete your purchase for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Personal Account (for Consumer Cryptocurrencies Hub transactions) or Business Account (for Business Cryptocurrencies Hub transactions).
You may use your Consumer Cryptocurrencies Hub to set up a recurring buy order (“Recurring Buy”). A Business Cryptocurrencies Hub cannot be used to conduct Recurring Buy transactions. When you create a Recurring Buy, you will be asked to select the Crypto Asset type, dollar amount, frequency, start date, and funding source(s) for the Recurring Buy. When you instruct PayPal to set up a Recurring Buy, you authorize PayPal to execute the Recurring Buy against your designated funding source(s) in the U.S. dollar amount and at the frequency you specify during the setup process. The start date may be immediate or up to 30 days from when you set up your Recurring Buy. If you schedule a monthly Recurring Buy with a start date on the 29th, 30th, or 31st of the month, the Recurring Buy will occur on the last calendar day of shorter months, until canceled or paused. For example, if the start date for your first monthly Recurring Buy is March 31st, your next two Recurring Buys will occur on April 30th and May 31st. Otherwise, a monthly Recurring Buy occurs on the same date each month. For example, if the start date is March 15th for a monthly Recurring Buy, your next Recurring Buy will occur on April 15th.
To set up a Recurring Buy, you must designate an eligible bank account or debit card as a funding source. Once you have done so, you may then designate your Balance Account as your primary funding source. If you do not have enough funds in your Balance Account to cover the full amount of a given purchase, we will charge your designated bank account or debit card for the full amount of the purchase.
Each Recurring Buy of a Crypto Asset (other than PYUSD) includes a transaction fee and an exchange rate (including our spread). The exchange rate for each future Recurring Buy of a Crypto Asset (other than PYUSD) will be based on the total U.S. dollar amount of all Recurring Buys that PayPal executes that day for a given Crypto Asset divided by the total amount of the Crypto Asset purchased from a Service Provider in order to settle the Recurring Buys. When you create a Recurring Buy order, you may elect to make an initial purchase at that time. If you do so, the exchange rate shown will be for the first purchase only. The exchange rate for subsequent purchases of Crypto Assets, or for an initial purchase in a Recurring Buy you scheduled with a future start date, may vary significantly and will not be displayed at the time the Recurring Buy is created. You will be provided a receipt that shows the exchange rate at which each subsequent Recurring Buy was completed. That information is also accessible via your Cryptocurrencies Hub.
You can modify, pause, or cancel any scheduled Recurring Buy through the Cryptocurrencies Hub at any time up to 11:59 p.m. EST on the day prior to the day of the scheduled Recurring Buy date in the “manage your recurring buy” section. If you instruct us to stop a Recurring Buy from your Balance Account by 11:59 p.m. EST on the day prior to the day of the scheduled Recurring Buy and we do not do so, we will be liable for your losses or damages caused by our failure to stop payment.
It is important that you regularly check the setup of your Recurring Buys, including the frequency, the type, and dollar amount of Crypto Assets that you wish to buy, your funding sources, and whether your Recurring Buys remain appropriate for you in light of any changes in your circumstances or the value of Crypto Assets.
When you buy Crypto Assets, you agree that you have enough available funds in your selected funding source to complete your purchase. If we are not able to collect the required funds to complete your purchase from your selected funding source, you authorize us to:
Please note that there may be tax consequences from any gain or loss you incur if we liquidate your Crypto Assets. Should any additional proceeds from the liquidation of Crypto Assets covered by this section remain after PayPal has deducted amounts owed, these additional proceeds will be returned to your PayPal account as fiat currency.
In the event of insufficient payment due to an insufficient or failed bank transfer, you authorize PayPal to re-present this transfer from your bank account if the initial transfer is rejected by your bank for any reason. This re-presentment may still occur even if PayPal has otherwise liquidated Crypto Assts you hold or debited your PayPal balance for amounts owed to PayPal, if there remain any outstanding amounts owed to PayPal.
When you use your Cryptocurrencies Hub to sell your Crypto Assets, we will deliver the proceeds from the sale into your Personal Account (for Consumer Cryptocurrencies Hub sales) or Business Account (for Business Cryptocurrencies Hub sales). The timing of transfers of proceeds may be affected by any holds or limitations we place on your Balance Account, or any holds, limitations, or reserves we place on your Business Account, including specific holds or limitations with respect to the proceeds of the sale of your Crypto Assets. Any holds, limitations, or reserves described above will also apply to Crypto Assets transferred.
To sell Crypto Assets, PayPal will first show you the amount of money for which the Crypto Assets would be sold. The price of PYUSD, unlike other Crypto Assets, will remain fixed at $1.00 U.S. dollar per PYUSD token when bought from or sold to PayPal on the Cryptocurrencies Hub. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will execute and settle your sale with our Service Provider.
Once you confirm your sale, your transaction is not reversible. If we cannot complete your sale for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Personal Account (for Consumer Cryptocurrencies Hub transactions) or Business Account (for Business Cryptocurrencies Hub transactions).
You can use your Cryptocurrencies Hub to send Crypto Assets to another digital asset wallet you control or to someone you know. Providing the incorrect recipient information (for example, destination wallet address, name, username, phone number, or email address) will result in your Crypto Assets not being delivered to your intended recipient and being irretrievably lost. You are solely responsible for providing correct transaction details, including recipient information, to PayPal. PayPal is not responsible or liable for any losses you may incur as a result of you providing incorrect transaction details.
There are two types of send transactions:
If you are using a Consumer Cryptocurrencies Hub, you can send Crypto Assets to the PayPal account of a third party, such as a friend or family member. If the person to whom you are sending Crypto Assets has not already set up a Cryptocurrencies Hub, they can claim their Crypto Assets by setting up their Cryptocurrencies Hub. If they don’t claim their Crypto Assets within 30 days, the Crypto Assets will be returned to you. You should carefully verify that you are providing the correct recipient information to PayPal. A Business Cryptocurrencies Hub cannot be used to send or receive Internal Transfers.
You can send Crypto Assets to an external digital asset wallet that you own and control, or to an external digital asset wallet owned and controlled by another person, such as a friend or family member. In order to send Crypto Assets outside of PayPal, you will need to provide the wallet address where you want to send the Crypto Assets.
You should carefully verify that you have provided the correct destination wallet information to PayPal prior to submitting your external transfer.
You will also need to use a destination wallet address for the type of Crypto Asset being sent. To send PYUSD, you must (1) select the PYUSD Supported Blockchain that you wish to utilize and (2) use a destination wallet address designated for that PYUSD Supported Blockchain. Note that the PYUSD Supported Blockchain used for sending need not be the same as that used to previously receive any of your PYUSD. Using the wrong destination wallet address type will result in the transmitted Crypto Asset being irretrievably lost. PayPal is not responsible for losses or other damages resulting from the use of the wrong destination wallet address type.
Once you submit your transfer, the transfer will remain unconfirmed and pending until the cryptocurrency network confirms the transfer. You can read more about network confirmations, including the number of confirmations required for PayPal to reflect a transaction as complete in the PayPal Help Center. If your transaction is not submitted to the cryptocurrency network for confirmation, we will notify you. Even when a transfer is unconfirmed and pending, the transfer is irreversible. PayPal does not own or control the cryptocurrency networks, and PayPal makes no guarantee that an external Crypto Asset transfer will be confirmed by the network. At the time your transaction is reflected as “confirmed” by PayPal, your recipient’s wallet provider may still require additional confirmations by the cryptocurrency network before reflecting the transfer.
You will be charged a network fee in order to send Crypto Assets to an external digital wallet. If the amount of Crypto Assets in your Cryptocurrencies Hub is less than the applicable network fee, you will not be able to transfer your Crypto Assets. Information on network fees can be found in the Information on Fees and Pricing section below.
You can use your Cryptocurrencies Hub to receive Crypto Assets from an external digital asset wallet you control or that is owned by any other person you know. If you are using a Consumer Cryptocurrencies Hub, you may also receive Crypto Assets from another Consumer Cryptocurrencies Hub. You cannot access any Crypto Assets that PayPal does not support. If you attempt to receive any Crypto Assets that PayPal does not support, they will be irretrievably lost and PayPal is not responsible or liable to you for any losses or damages that arise.
If you are using a Consumer Cryptocurrencies Hub, other Consumer Cryptocurrencies Hubs can send you Crypto Assets using your username, phone number or email address. Internal transfers to and from Business Cryptocurrencies Hubs are not currently supported. In order to receive Crypto Assets from an external digital asset wallet, the sender will need to use your wallet address for the type of Crypto Asset being sent to you. If you are receiving PYUSD, you must use the wallet address designated for the appropriate PYUSD Supported Blockchain that you wish to utilize. Using the wrong wallet address will result in the transmitted Crypto Asset being irretrievably lost. PayPal is not responsible for losses or other damages resulting from the use of the wrong wallet address.
When you or another person sends Crypto Assets to your Cryptocurrencies Hub from an external cryptocurrency wallet, the person sending the Crypto Assets is solely responsible for properly executing the transfer on the cryptocurrency network. For example, the person sending the Crypto Assets must enter the correct destination wallet address and pay a sufficient network fee so that the transaction will be successfully recorded. If the sender does not pay a high enough network fee, the transfer may be delayed or may not be confirmed. PayPal does not own or control the cryptocurrency network and will not treat a transfer of Crypto Assets as complete until the transfer is confirmed by the network. PayPal cannot help you to address any delay or loss as the result of the sender paying an insufficient fee or the transfer otherwise not being confirmed by the network.
Crypto Assets sent to you will be reflected as unconfirmed and pending until the cryptocurrency’s network can confirm and complete the transfer. You can read more information on network confirmations, and the number of confirmations required in order for PayPal to reflect a transaction as complete in our educational content and the PayPal Help Center.
PayPal will review Crypto Assets sent to you, including for risk holds, sanctions screening, and other compliance and risk considerations. Crypto Assets will not be credited to you until they pass PayPal’s risk and compliance review. Crypto Assets credited to your Cryptocurrencies Hub can still become subject to subsequent holds or claims, including holds that limit your ability to transfer or sell Crypto Assets, or transfer or withdraw the proceeds from the sale of the Crypto Assets.
By using your Cryptocurrencies Hub, you agree to pay all applicable exchange rates (including spread) and fees. You will be charged certain fees when you buy, sell, and transfer Crypto Assets.
Pricing and fees for Consumer Cryptocurrencies Hub transactions are as follows:
Buying, Selling, and Transferring Cryptocurrencies
Buying or selling PYUSD
| Purchase or sale | No fee | |
|---|---|---|
| Payment Type | Buy PYUSD | Sell PYUSD |
| PayPal Balance or Bank | No fee | No fee |
| Debit Card | No fee | No fee |
| FX when buying or selling PYUSD from a non-USD currency, where available | Buy FX 4.0% | Sell FX 3.0% |
Transferring a crypto currency
Transfer Type
| Receiving a crypto transfer | No fee |
| Transferring crypto to another PayPal or Venmo account | No fee |
| Transferring Crypto to an address outside of PayPal or Venmo | You will be charged a cryptocurrency network fee, payable in the crypto you transfer, which varies. For details on the network fee, please refer to the section below on Network Fees. We will display such network fee right before you transfer any crypto. |
Pricing and fees for Business Cryptocurrencies Hub transactions are as follows:
Buying, Selling, and Transferring Cryptocurrencies
Buying or selling PYUSD
| Purchase or sale | No fee | |
|---|---|---|
| Payment Type | Buy PYUSD | Sell PYUSD |
| PayPal Balance or Bank | No fee | No fee |
| Debit Card | No fee | No fee |
| FX when buying or selling PYUSD from a non-USD currency, where available | Buy FX 4.0% | Sell FX 3.0% |
Transferring a crypto currency
Transfer Type
| Transfer Type | Fee |
|---|---|
| Receiving a crypto transfer | No fee |
| Transferring crypto to another PayPal or Venmo account | No fee |
| Transferring Crypto to an address outside of PayPal or Venmo | You will be charged a cryptocurrency network fee, payable in the crypto you transfer, which varies. For details on the network fee, please refer to the section below on Network Fees. We will display such network fee right before you transfer any crypto. |
If you use a linked bank account or debit card as a funding source to buy Crypto Assets, your bank may charge you its own fees, including overdraft fees or insufficient fund fees, if applicable. PayPal is not responsible for any fees that may be charged to you by your bank.
When you transfer Crypto Assets to an external wallet address, you will be charged a fee that is designed to cover the cost of network fees. We will disclose this fee to you before your transfer. Cryptocurrency networks need fees in order to process transfers of Crypto Assets that are broadcast to the network. These fees are often referred to as “network fees” or “gas fees.” The amount of network fees required to process a transfer fluctuates constantly. The fee you will be charged is an estimate of the fee the network will take to process your transfer. The fee that you will pay may be higher or lower than the actual fee paid to the network, based on market conditions. If the actual network fee is higher, that amount is PayPal’s or its Service Provider’s responsibility. If the actual network fee is lower, PayPal or its Service Provider will retain the difference. PayPal does not charge network fees for transfers between Cryptocurrencies Hubs on PayPal, or transfers between PayPal and Venmo Cryptocurrencies Hubs.
Except for Recurring Buys as set forth below, you cannot reverse, cancel or change any Crypto Asset transaction once it has been authorized. You can pause or cancel your authorization of a Recurring Buy until 11:59 p.m. EST on the day prior to the execution date of the Recurring Buy. If your payment method has insufficient funds, you reverse the payment transaction, or we otherwise do not receive payment for your transaction, you authorize us, in our sole discretion, to take any of the Actions We May Take for Insufficient Payment for Crypto Assets.
We also reserve the right to not process, to cancel or, to the extent possible, to reverse a transaction, if (i) we believe that the transaction relates to any Restricted Activities, (ii) we have placed a hold, limitation or reserve on your PayPal account, (iii) we have suspended your Cryptocurrencies Hub, (iv) we believe the transaction involves money laundering, terrorist financing, fraud or any other type of crime, (v) in response to a subpoena, court order, or other government order, or (vi) we believe, in our sole discretion, processing the transaction would expose PayPal, our service providers, or other PayPal users to excessive risk. In such instances, regardless of the reason we have blocked, cancelled or reversed your transaction and regardless of the reason we have lifted or reversed that restriction, we do not guarantee you will be able to reinitiate your transaction at the same price or on the same terms as the transaction that we did not process, or that was cancelled or reversed.
While we will try to complete purchases, sales and transfers of Crypto Assets that you authorize and that comply with these Cryptocurrency Terms, we do not guarantee your ability to buy, sell, or transfer Crypto Assets. Crypto Assets and their underlying cryptocurrency networks are complex developing technologies that may be subject to delays, halts or go offline as a result of errors, forks, attacks or other unforeseeable reasons. The cost, speed, and availability of transacting on cryptocurrency networks are subject to significant variability. Your ability to buy, sell, or transfer Crypto Assets may be delayed or unavailable due to the unavailability of the Crypto Assets or funds from your funding source, interruptions, delays or errors of the relevant cryptocurrency network, our inability to interface with our service provider(s), a legally permitted delay by Paxos in the redemption, sale, or minting of PYUSD, system downtime, limitations or suspensions we impose on your Cryptocurrencies Hub in our sole discretion, for required safety, security, or legal reasons, or for other reasons outside of PayPal’s or any service provider’s control. We are not liable to you if we or our Service Provider is unable or delayed in executing or settling your transactions. If Paxos is unable or delayed in executing and settling PYUSD transactions for any reason, PayPal reserves the right to defer or cancel your PYUSD order.
Your access to the Cryptocurrencies Hub or your ability to hold, buy, sell, or transfer Crypto Assets, including the price for buying, selling, and transferring can also change or be limited by extraordinary circumstances outside of our control (e.g. fire, flood, accident, riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion, breakdown of communication facilities, breakdown of web host, breakdown of internet service provider, natural catastrophes, governmental acts or omissions, changes in laws or regulations, national strikes, fire, explosion, generalized lack of availability of raw materials or energy, or extreme financial market conditions), which we either did not reasonably foresee or that happened despite our reasonable precautions (“Force Majeure Events”) PayPal will not be liable to you for any limits, suspensions, delays, or changes to your Cryptocurrencies Hub, or your inability to transact in Crypto Assets because of any Force Majeure Event(s), including any changes in the buy or sell price of Crypto Assets because of any Force Majeure Event(s).
PayPal may buy and sell cryptocurrency through Service Providers acting as market makers providing liquidity (“Liquidity Provider”). A Liquidity Provider may in turn buy and sell cryptocurrency through an affiliated cryptocurrency exchange, provided, however, that (a) the Liquidity Provider trading will always be designed to be revenue-neutral over the long term (i.e. the Liquidity Provider will not profit from these transactions as a whole), and (b) the Liquidity Provider will not access or use information about exchange trading which is different from what is available to other participants on the cryptocurrency exchange.
Cryptocurrency assets in a given address are controlled by the private key of the holder of that address. If the private key is lost, stolen or compromised, the cryptocurrency assets in that address may be lost, stolen and/or otherwise unrecoverable.
Crypto Assets, including PYUSD, are not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation, or any other public or private insurer, including against cyber theft or theft by other means. Cryptocurrency activity is not a regulated activity in many territories.
You should be aware that you may have difficulty selling your Crypto Assets due to illiquid market conditions, system outages or other operational risks (e.g. cyber-attacks). You may lose your Crypto Assets in the event of fraud, theft, sabotage or technological/operational issues (e.g., loss of private keys or cyber-attacks).
PYUSD is issued by Paxos. Please refer to the Paxos Terms for additional terms and conditions related to PYUSD, including how PYUSD is fully backed by an equivalent amount of U.S. dollar denominated bank deposits, U.S. Treasuries, and U.S. Treasury reverse repurchase agreements, how Paxos maintains custody of the assets backing PYUSD, and your ability to redeem PYUSD at a price of $ 1.00 U.S. dollar directly with Paxos . If the ability to sell Crypto Assets is available in your territory, you can also access the U.S. dollar value of your PYUSD by selling the PYUSD to PayPal at a price of $1.00 U.S. dollar per one PYUSD token, provided that we can concurrently sell or redeem that PYUSD with Paxos at the same price of $1.00 U.S. dollar per one PYUSD token. PayPal does not guarantee Paxos’s performance or obligations.
While PYUSD is designed not to fluctuate in value, the price of PYUSD may be higher or lower than $1.00 U.S. dollar on other exchanges.
PayPal is committed to providing transparency in relation to any potential or actual conflict of interest that may arise in the course of providing the Cryptocurrencies Hub to you. This is to ensure that you are able to assess whether, and in what manner, such potential or actual conflicts of interest may affect your interest. Should such conflicts arise, PayPal will inform you promptly, and in a clear and specific manner, of the nature of any such conflict, the associated risks, the measures implemented to mitigate those risks, and any residual risks that may remain.
PayPal shall maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest. Where there are material changes to our business model or to the DPT services provided by us and sources of conflicts of interest, we will post a notice on the Policy Updates page of our website and send you an email, providing you at least 14 days' advance notice, or such longer period as required by law.
As of the date of this Disclosure Statement, the PYUSD token is the only Crypto Asset that is listed and made available to you on the Cryptocurrencies Hub. PayPal may list other Crypto Assets in the future, in which case this Listing Framework will apply.
PayPal is accountable and responsible for the Crypto Assets it chooses to list on its Cryptocurrencies Hub. This Crypto Asset Listing and Governance Framework aims to provide you with greater clarity and transparency on how Crypto Assets listed on the Cryptocurrencies Hub are evaluated, enabling more informed assessments as it relates to PayPal’s listing process.
Accordingly, each Crypto Asset listed by PayPal undergoes a robust multi-stage evaluation process (“Listing Process”). PayPal evaluates and conducts rigorous due diligence for each Crypto Asset as part of its Listing Process. The objective of the Listing Process is to ensure that all Crypto Assets listed on the Cryptocurrencies Hub are or will be issued by a legitimate and reputable entity or project.
PayPal has also established a Blockchain, Crypto, and Digital Currencies Committee (the “Committee”) to assist PayPal’s board in discharging its responsibility for maintaining control and oversight over the management of relevant risks associated with the Listing Process.
The Listing Process entails a comprehensive assessment across various departments, and criteria as part of its evaluation of a Crypto Asset for listing on the Cryptocurrencies Hub (“Evaluation Process”):
Each Crypto Asset will undergo a preliminary review by the Committee following its nomination by the product team, which includes an analysis of the Crypto Assets tokenomics (e.g. function, utility, and market capitalization) and market integrity.
Each Crypto Asset will undergo a holistic compliance and risk assessment carried out in collaboration with various departments including compliance, engineering, product, business operations, and market development. The assessment reviews and identifies potential compliance and market related risks across the key pillars of capital, portfolio, strategic, operational, regulatory, technology, reputational, and third-party risks. The assessment further takes into account MAS specific regulatory requirements (e.g. PSN02).
Each Crypto Asset will also undergo an internal legal assessment to identify potential regulatory and legal implications. This includes an analysis of the Crypto Asset’s legal characterisation and any potential issues that may arise in relation to consumer protection or misleading marketing.
The outcome of each of the assessments above will be presented to the Committee, which will determine whether the Crypto Asset is suitable for listing. If approved by the Committee, the Crypto Asset may then be listed on the Cryptocurrencies Hub.
All Crypto Assets listed on the Cryptocurrencies Hub will undergo continuous monitoring to ensure the effectiveness of PayPal’s control environment throughout the listing of a Crypto Asset. Such continuous monitoring actions among others, include: (a) documenting all approved Crypto Assets and any relevant information in reporting dashboards; and (b) conducting periodic re-evaluation of each Crypto Asset.
PayPal may suspend, cease, or delist a Crypto Asset from the Cryptocurrencies Hub if it determines, at its discretion, that the Crypto Asset poses a material risk to the safety/soundness of users and the general public. The decision to suspend or delist a Crypto Asset from the Cryptocurrencies Hub is typically conditioned on the Crypto Asset’s failure to satisfy PayPal’s listing standards as set out in the Evaluation Process above, or where any of PayPal’s delisting triggers are identified, and assessed to constitute a sufficient basis for delisting. Such delisting triggers may include, among others, concerns relating to the legality, quality, or stability of the Crypto Asset.
Where a decision is made to delist a Crypto Asset, PayPal will, wherever practicable, provide affected users with prior written notice at least 30 days before delisting takes effect. PayPal will also make customer support available to address any questions and assist affected customers with selling the impacted Crypto Asset or otherwise transferring it off the Cryptocurrencies Hub, when permitted. Depending on factors such as transaction volumes or the number of holders of the impacted Crypto Asset, PayPal may allocate dedicated resources to respond to phone, email, or chat enquiries and may provide tailored FAQs relating to the specific delisting event.
Within your Cryptocurrencies Hub, you will find educational content on cryptocurrency generally, the cryptocurrency market, tax implications of buying and selling cryptocurrency, and the particular Crypto Assets available to be bought, sold, and transferred through the Cryptocurrencies Hub. The educational information available through your Cryptocurrencies Hub is provided only as general educational background. The information is not tailored to individual PayPal users and is therefore not provided based on your individual financial, investment, tax, legal or educational needs and circumstances. The information does not constitute investment, financial, tax, legal or trading advice. The information may include content provided by third parties and PayPal takes no responsibility for third-party educational materials.
Within the Cryptocurrencies Hub, you will also find information on the market price of the Crypto Assets based on the data shared with us by our Service Provider. The market price for Crypto Assets differ from marketplace to marketplace. The market data that we provide to you is from an external source that we believe to be reliable. However, we do not control the external sources or the data they provide, and we do not always independently verify that the information provided is complete and accurate. Therefore, we cannot and do not guarantee that the information is accurate, complete, timely, or suitable for use, and it may be inaccurate, incomplete, or out of date. You should verify all information that you receive before relying upon it, and we have no liability to you if you make decisions based on the market information that you receive from or through us.
All market data and educational content, including crypto price alerts, are provided on an “as-is” basis and without any representation or warranty, whether express, implied or statutory. PayPal shall have no liability and specifically disclaims all warranties, express or implied, for any market data or educational content on the Cryptocurrencies Hub, or any use thereof.
Neither PayPal nor its service providers (including, without limitation, our Service Provider(s)) provide investment or tax advice to you. You are solely responsible for all decisions to buy, sell, or transfer Crypto Assets through your Cryptocurrencies Hub, including understanding any tax obligations that you may incur. We do not manage your Cryptocurrencies Hub on your behalf. Our sole responsibility is to execute transactions and hold Crypto Assets on your behalf through our Service Provider(s), in all cases based on your instructions and these Cryptocurrency Terms.
While PayPal may make certain educational content available, including crypto price alerts, it is provided for general background information only and is not specifically tailored to you and your individual needs and circumstances and should not be construed as a recommendation. You must determine if any particular purchase or sale of Crypto Assets is appropriate for you based on your own investment objectives, financial circumstances and risk tolerance, and make your own transaction decisions independently.
The technology that creates cryptocurrency, including your Crypto Assets, is typically governed by underlying software protocols that are open source, which means that anyone can use, copy, modify or distribute them. PayPal does not currently own or control the underlying software protocols and these software protocols can change suddenly and unexpectedly in a way that has a significant impact on your Crypto Assets. Because we do not control this technology, PayPal is not responsible for the operation of the underlying software protocols and cannot guarantee the continued functionality, security or availability of any Crypto Asset. Without assuming any responsibility, PayPal, however, will only support those assets for which PayPal has performed the necessary due diligence.
Software protocols governing a Crypto Asset can experience sudden changes in operating rules that are outside PayPal's control, known as "forks." A fork can have a material change on the operation, functionality, value or even name of a Crypto Asset. A fork may result in multiple versions of a Crypto Asset, and each version could have a very different, and possibly lower, value than your Crypto Asset before the fork.
PayPal may or may not support the fork of a Crypto Asset, whether or not the forked Crypto Asset holds any value. In the event of a fork, PayPal may temporarily suspend trading of Crypto Assets in order to determine whether or not it will support any particular fork. In the event of a fork, PayPal will evaluate the feasibility of supporting the fork and determine whether and to what extent any new assets resulting from the fork may be supported and/or allocated. This evaluation will take into account factors such as, but not limited to, the technical issues around supporting a fork, Service Provider dependencies, and legal and regulatory considerations.
If PayPal supports the fork of a Crypto Asset, and the fork is followed by an airdrop of new cryptocurrency that is credited to your PayPal account, your receipt of that cryptocurrency may be taxable.
You agree that PayPal is not responsible or liable to you for any losses or damages, including lost profits, which may occur as a result of a change in the underlying software protocol of a Crypto Asset, PayPal's determination to support or not support any particular fork or modified software protocol, and any interruption of trading while PayPal makes such determination. If PayPal determines not to support a fork or modified software protocol, you may never get access to the assets governed by that fork or software protocol.
From time to time, we may, in our discretion, impose limits on the amount of Crypto Assets you can buy, sell, or transfer, which may include limits on the cash value or number of transactions in which you can engage over particular periods of time. Standard transaction limits are as follows:
We may change the above limits for safety, security or other lawful reasons.
You can view your Cryptocurrencies Hub transaction history by logging into your PayPal account. Your account statements will include information on purchases of Crypto Assets, the proceeds from the sale of Crypto Assets, and the fees you paid in connection with Crypto Asset transactions.
Your account statement may not include all of the details regarding your purchase, sale and transfer of Crypto Assets that are available in your transaction history.
In addition to the other Restricted Activities identified in your PayPal Account User Agreement and the Acceptable Use Policy, you must not engage in the following Restricted Activities:
If we believe that you've engaged in any Restricted Activities, we may take a number of actions to protect PayPal, its customers and others at any time in our sole discretion. In addition to the remedies identified in your PayPal Account User Agreement, the actions we may take include, but are not limited to, limiting your access to or use of the Cryptocurrencies Hub and/or suspending your Cryptocurrencies Hub, immediately and without penalty to us, including limiting your ability to buy, sell, transfer Crypto Assets. You authorize PayPal to seize your Crypto Assets if we believe a transaction relating to those Crypto Assets involves money laundering, terrorist financing, fraud or any other type of crime.
If we close your Cryptocurrencies Hub, or terminate your use of the PayPal services for any reason, we'll provide you with notice of our actions. You can find more information on what happens if we close your Cryptocurrencies Hub here. If you believe we have taken any action in error, please contact PayPal Customer Service or call: 65-6510-4650.
You are responsible for all reversals, chargebacks, claims, fees, fines, penalties, and other liability incurred by PayPal, any PayPal customer, or a third party caused by or arising out of your breach of these Cryptocurrency Terms and/or your use of the PayPal services.
There may be tax consequences as a result of actions taken with respect to your Cryptocurrencies Hub, including but not limited to when you sell your Crypto Assets, when you transfer Crypto Assets, when you receive PYUSD Rewards, or from the receipt of new cryptocurrency through an airdrop following a fork that PayPal supports. You may be asked to provide certain identifying information (for example, your taxpayer identification number) for tax purposes. You should consult your tax professional regarding your specific situation and your reporting of Crypto Assets transactions.
PayPal will protect you from unauthorized activity involving the purchase or sale of Crypto Assets in your Cryptocurrencies Hub. When this protection applies, PayPal will cover you for the full amount of unauthorized purchase or sale activity, as long as you cooperate with us, and follow the procedures described below.
PayPal also works to prevent unauthorized transfers of Crypto Assets, and will reimburse you for unauthorized transfers out of your Cryptocurrencies Hub in the form and quantity of the Crypto Asset that was removed from your account, up to a maximum lifetime cap of an equivalent of $50,000.00 U.S. dollars over the life of the account holder (based on the U.S. Dollar value of the Crypto Asset at the time of the unauthorized transaction), as long as you cooperate with us, and follow the procedures described below.
Any reimbursement you receive from PayPal represents a warranty of our own services. PayPal does not provide insurance and does not insure you against loss of your Crypto Assets.
What is an Unauthorized Transaction
An “Unauthorized Transaction” occurs when (i) Crypto Assets are purchased within your Cryptocurrencies Hub that you did not authorize and do not benefit you or (ii) Crypto Assets from your Cryptocurrencies Hub are sold or transferred in transactions that you did not authorize and do not benefit you. For example, if someone steals the password to your PayPal account, uses the password to access your Cryptocurrencies Hub, and sells your Crypto Assets, an Unauthorized Transaction has occurred.
What is not considered an Unauthorized Transaction
It is NOT an Unauthorized Transaction if you grant authority to someone to use your Cryptocurrencies Hub (by giving them your PayPal account login information) and they exceed the authority you gave them. You are responsible for transactions made in this situation unless you have previously notified PayPal that you no longer authorize transfers by that individual.
Requirements for Protection for an Unauthorized Transaction
PayPal may limit your ability to sell or send Crypto Assets that you claim were purchased or sent to you without your authorization. If PayPal has not limited your ability to sell or transfer these Crypto Assets, you still may not sell or transfer those unauthorized Crypto Assets before you report the unauthorized purchase to PayPal or while PayPal investigates your claim.
If you sell or transfer any Crypto Assets that you claim you did not purchase, PayPal will deny your claim for those sold or transferred Crypto Assets. You will not be able to recover any funds used to purchase the sold or transferred Crypto Assets. We will continue to address your claim for any disputed Crypto Assets that you did not sell or transfer.
Reporting an Unauthorized Transaction
If you believe there has been an unauthorized purchase, sale, or transfer of Crypto Assets in your Cryptocurrencies Hub, please contact PayPal Customer Service immediately or call: 65-6510-4650.
Tell us AT ONCE if you believe that a purchase, sale or transfer of Crypto Assets has been made without your permission using your login information or by other means. You could lose all the Crypto Assets in your Cryptocurrencies Hub. If you tell us within 60 days after we provide you your account statements showing purchases, sales or transfers you did not make, we will reimburse you for the full amount of the reported Unauthorized Transactions, provided that for Unauthorized Transactions that are transfers, you will be eligible for reimbursement in the form and quantity of the Crypto Asset that was removed from your account, up to the lifetime cap of the equivalent of $50,000.00 USD, (based on the U.S. Dollar value of the Crypto Asset at the time of the unauthorized transaction).
Also, if your account statement shows purchases, sales, or transfers of Crypto Assets that you did not make, including those made with your PayPal login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, you may not get back any Crypto Assets or money you lost after the 60 days if we can prove that we could have stopped someone from taking the Crypto Assets if you had told us in time. If a good reason (for example, a long trip or a hospital stay) kept you from telling us, we may extend the time periods. We may request the requisite proof of such reasons before deciding whether to extend the time periods.
Error Resolution
What is an Error:
An “Error” means the following:
What is not considered an Error
In case of Errors or questions about your Cryptocurrencies Hub
If you believe there has been an error with respect to your Cryptocurrencies Hub, telephone us at 65-6510-4650, or contact us through the PayPal Resolution Center.
Notify us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.
We will determine whether an error occurred within 45 days after we hear from you and will correct any error promptly. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your account.
For errors involving new Personal Accounts, we may take up to 90 days to investigate your complaint or question.
We will tell you the results within 3 Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
Processing Errors
We will rectify any processing error that we discover. A “processing error” means the following:
What is Not Considered a Processing Error
Support
If you have other questions or concerns regarding your Cryptocurrencies Hub, your Crypto Assets, our Service Provider(s), or any related transactions or account activity, please contact PayPal Customer Service or call: 65-6510-4650.
Crypto Assets that you Receive in Error or as the Result of an Unauthorized Transaction
PayPal may limit your ability to sell or send Crypto Assets that you claim you received in error. If PayPal has not limited your ability to sell or transfer these Crypto Assets, but you claim an error has caused you to receive Crypto Assets that you did not purchase or that were not intended to be sent to you, you still may not sell or transfer such Crypto Assets before you report the error to PayPal or while PayPal investigates your claim. If you sell or transfer any Crypto Assets that you claim you did not purchase, PayPal will deny your claim for those sold or transferred Crypto Assets.
Even if you do not make a claim, if you receive Crypto Assets in error or as the result of an unauthorized transaction, we may remove those Crypto Assets from your Cryptocurrencies Hub. If you receive Crypto Assets in error or as the result of an Unauthorized Transaction and sell or transfer such Crypto Assets, we may recover from you up to the amount of any sale proceeds or the cash value of the Crypto Assets as of the time you received the Crypto Assets.
If you sell or transfer any Crypto Assets for which you have received a refund (whether from PayPal or any other source such as your bank or card issuer), PayPal may recover from you up to the amount of any refund provided to you.
PayPal may, in its sole discretion and without liability to you, not allow you to establish or access the Cryptocurrencies Hub or suspend, close, or terminate your Cryptocurrencies Hub, or place a limitation on the type or amount of activities in which you can engage using your Cryptocurrencies Hub. This may occur if we are unable to verify your identity, you engage in Restricted Activities, pursuant to a court order or other legal process, you violate these Cryptocurrency Terms or another agreement between you and PayPal, we are no longer offering Cryptocurrencies Hubs in your territory or state of residence, or our Service Providers are no longer supporting the Cryptocurrencies Hubs, among other reasons.
Your Cryptocurrencies Hub will also be suspended or terminated if we suspend or terminate your PayPal Account pursuant to the PayPal User Agreement. If your Cryptocurrencies Hub is suspended, the Crypto Assets in your account may fluctuate in value and we are not liable for any losses you may incur as a result of those fluctuations.
If we close your Cryptocurrencies Hub, and your account holds Crypto Assets, or if you receive Crypto Assets into an address previously associated with a Cryptocurrencies Hub that has been terminated, you authorize us, in our discretion and at any time, to liquidate the Crypto Assets in your account into U.S. dollars at the price that otherwise applies to the sale of Crypto Assets at that time, or another reasonable price determined by PayPal in its reasonable discretion. You understand that the value of Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While PayPal will notify you that your account has been closed, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
If we liquidate your Crypto Assets, and you have a PayPal Account in good standing, we will credit any unrestricted funds to your PayPal Account , as applicable. Please note that there may be tax consequences from any gain or loss you incur if we liquidate your Crypto Assets.
PayPal suspension and termination rights
PayPal, at its sole discretion, reserves the right to suspend or terminate these Cryptocurrency Terms, access to or use of its websites, software, systems (including any networks and servers used to provide any of the PayPal services) operated by us or on our behalf or some or all of the PayPal services.
Security Interest
Except where prohibited by law or regulation, as security for the performance of your obligations under these Cryptocurrency Terms, you grant to PayPal a lien on, and security interest in and to, your Crypto Assets.
Amounts owed to PayPal
If the balance in your PayPal Account (including your Cryptocurrencies Hub) becomes negative for any reason, that negative balance represents an amount that you owe to PayPal. In addition to any rights we have under the PayPal User Agreement, you authorize PayPal to sell your Crypto Assets and use the proceeds to pay a negative balance you owe to us in any PayPal account you own.
If we sell your Crypto Asset to pay amounts you owe to us, we will value the Crypto Assets using the price that otherwise applies to the sale of Crypto Assets at that time, or another reasonable price determined by PayPal in its reasonable discretion. You understand that the value of most Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While PayPal will notify you if you have a negative balance, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
If any amounts you owe to us remain outstanding after we liquidate your Crypto Assets, you still owe the remaining amount to PayPal, and we may take any other action permitted under these Cryptocurrency Terms or your other agreements with PayPal to satisfy those owed amounts.
No waiver
Our failure to act with respect to a breach of any of your obligations under these Cryptocurrency Terms by you or others does not waive our right to act with respect to subsequent or similar breaches.
No Other Encumbrances
Other than our lien and security interest described above (which PayPal will take on or in your Crypto Assets only if doing so is not prohibited by law or regulation), PayPal will not pledge, hypothecate, assign or otherwise encumber your Crypto Assets.
If you receive Crypto Assets into an address associated with a Cryptocurrencies Hub that has been closed, or if you do not log into your PayPal account for two or more years and PayPal closes your PayPal account, you may CONTACT PAYPAL CUSTOMER SERVICE or call: 65-6510-4650 and request your Crypto Assets. PayPal may send your Crypto Assets to you (minus the applicable network fees) if we have verified the required identifying information that you have provided to us. If we are unable to contact you, any unclaimed Crypto Assets may be liquidated and the proceeds therefrom will be subject to applicable laws regarding unclaimed monies.