Cryptocurrency put hold on funds

[Jamie1107]

I I recently bought and sold cryptocurrency via paypal, when I sold the cryptocurrency paypal put my sale funds on hold. Going on 9 days now, and all the customer service representatives seem dumb founded on what to do. They told me to contact the buyer, to verify they received the cryptocurrency. But aren't they the buyer, and seller? So I contacted them right after I got off line with the customer chat, and called and asked them the verify that they received it. Oh, man were they completely lost.. non of them know what to do.. I know the Cryptocurrency is new to PayPal, but you would think that the customer service representative would be somewhat trained on what to do, or even what it is. They didn't even know, that paypal offers this. So what do I do now?

[cbrumfie]

I have had the same problem. I sold some cryptocurrency and the cash is being withheld pending "confirmation from seller" or something to that effect. I have repeatedly tried to explain to the PayPal employees this and they are completely oblivious to the fact that PayPal facilitates the sale and purchase of cryptocurrencies. As soon as I get this straightened out, I am going to move all of my cryptocurrency purchases to Coinbase or Robinhood.

Word to the wise -- PayPal is completely not ready to be in the cryptocurrency business. And there is absolutely no way to get a hold of someone to explain the issue.

[Nicswt]

Did anyone get it resolved? I’m having same problem 🤬 I don’t know what to do.

[paujones]

When you read the Crypto agreement form, you essentially have zero rights.  They say its risky and unregulated.  I purchased some bitcoin and ethereum.  I sold some the same day - wanting to purchase Bitcoin cash.  They help my proceeds for 7 days for no reason.  I filed disputes and appealed them and they were all denied.   I purchased the Bitcoin cash through another bank transfer and held it and the other crypto for about 10 days.  I wanted to send some to my son, and I learned that I cannot transfer as crypto.  The only way is to transfer it back to USD, then transfer the money - with fees all over those transactions.  I decided to sell the total Crypto balance - and now all of it is on hold.  They said 3 days for each transaction due to bank setup times.  Not sure what that meant as I bought and sold it via Paypal, so the only bank is getting it back into my cash account.  I plan to move it to Coinbase since Paypal has been horrible in this area.