Weird PayPal Crypto Quirk

in #alive3 years ago

If you have cellphone coverage that is shared between multiple people with unique numbers, you may be running into an issue that I just ran into when depositing crypto into PayPal.

For some reason, the way how PayPal validates someone's identity isn't as straight forward as showing ones ID and verifying it with their face. Of course, this is standard for the platform, but apparently there is an added layer of security with crypto related transactions.

For example, I am trying to deposit crypto into my PayPal wallet from another non-PayPal crypto wallet, but the system cannot "verify" my identity. When I contacted support, they said my account already has my identity verified, but if I access my crypto wallet, for some reason I cannot deposit to the account because my identity isn't verified. Quite the conundrum.

The way how crypto on PayPal works is that the system checks to verify that my phone number is owned by me and must have my name as the primary holder of the account. PayPal uses your phone records to verify your identity as the added layer of security.

Since my family typically buys multiple lines on one account, my "identity" cannot be verified according to PayPal's system. All other features of PayPal is accessible EXCEPT for depositing crypto into my account.

It's a bummer, but I guess I'll just have to settle for the Coinbase Debit card.

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That sux!