I think a lot of people need to hear this. PayPal is in the business of making money. PayPal doesn’t give a rat’s ass about crypto. Need proof? [https://cryptocrunchapp.com/news/paypal-ceo-says-crypto-is-positively-producing-amazing-results-for-paypal/](https://cryptocrunchapp.com/news/paypal-ceo-says-crypto-is-positively-producing-amazing-results-for-paypal/)
When you make a crypto purchase on PP or Venmo, you don’t actually get any crypto. “Well, that’s not true” – some might say – “I see it in my balance”. But what happens when you decide to transfer it to your wallet or stake it? NOTHING – because you can’t! PayPal wants to make money off transaction fees, not help you earn money investing in crypto.
PayPal offers assurances that your crypto is safe but you really have no control over it like you would on exchange. You’re putting all of your trust and faith into the company and hoping they don’t change their policies or get regulated while you’re HODLing.
I certainly see the appeal of buying on PP or Venmo, but (not financial advice) – my suggestion is to find an exchange you trust, make your buys and get your crypto in your wallet or stake it. Don’t let PayPal be the custodian for your coins.