Definitely no!
The giant payment processor company Is a well known firm with more than 300 millions customers in several locations across the globe, with a strong network of 28 million merchants worldwide. It's a serious and global firm, with policy to protect first their business, then the well being of their customers, like any firm on business is a "trick" entrepreneurship and any time could restrict usage of their platform for anyone.
After it's announcement to enter the crypto space excitement was big and marvelous to see a multi-millionaire company noting and show interest in decentralized assets, of course to offer their services they choose some of the biggest assets on the industry, Bitcoin, Bitcoin Cash, Ether and Litecoin to give support at least on the beginning. The service will be available globally and in the US since Nov. 12 customers using PayPal can buy, sell and Hodl crypto on their accounts but there is a catch!
Users can get their account restricted for buying and selling compulsively this digital assets, and of the bot flag the account nothing can be done and the client won't be able to use anymore the Paypal services. This situation happened to a User who claims the platform suddenly restricted his account and put on hold remaining $400 containing on his account for 180 days. He doesn't have right to appeal the decision, it's permanently restricted!
Despite the giant fintech entering the crypto space the old same problems are still on deck, with the company restricting users account without warning and that is just the beginning! In 2021 things will be even complicated, as known this services offered by PayPal are from a third party entity who control everything happening on users account, they hold the keys and that money isn't for customers but from the company.
I have been using PayPal for years now and I got luck with their restrictions to use their account, one day I woke up with a message saying my account was restricted, when I contacted the customer service their said they restricted my account because I used VPN to access it wish was a total misunderstanding between my network provider and the browser I was using. Fortunately they restored full my account but anytime they can just lock it again.
It's wonderful to have a giant like that in crypto, but definitely they a worse company to hold crypto on the behalf of customers, the good thing is that crypto can be used to pay across they large numbers of merchants, the company will help to spend well crypto on them.
Another weird thing is that no user is allowed to cash out the crypto from the platform, only to spend it with the merchants, raising my concern and looking like those platforms where you can write, earn crypto on them but not allowing to withdraw it, only spending on the site, totally nonsense waste of time, efforts and patience. The baddest at Paypal will be that actually you are putting money into your own account but you can't take out your crypto.
Definitely won't use it to Hodl crypto on Paypal account, and it's necessary to read the FAQS and term of services to not fall on their traps or get blocked to use their services!
Always DYOR before anything.
Stay tuned for more exciting topics, stay safe and if possible at home.
Have a gorgeous day.
