Why does PayPal charge a fee for sending cryptocurrency to friends and family?

3 answers

• Dec 15, 2021 · 3 years ago
  PayPal charges a fee for sending cryptocurrency to friends and family because they incur costs in processing these transactions. Cryptocurrency transactions require additional resources and infrastructure to ensure security and compliance. PayPal invests in maintaining the necessary systems and protocols to facilitate these transactions, which is why they charge a fee to cover their expenses. It's important to note that the fee may vary depending on the amount and type of cryptocurrency being sent.
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• Dec 15, 2021 · 3 years ago
  The fee charged by PayPal for sending cryptocurrency to friends and family is part of their business model. PayPal is a company that provides financial services, and like any other business, they need to generate revenue to cover their costs and make a profit. Processing cryptocurrency transactions involves certain risks and expenses, and the fee helps PayPal offset these costs. While it may be frustrating to pay a fee, it's important to understand that PayPal provides a convenient and secure platform for sending and receiving cryptocurrency.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, explains that PayPal charges a fee for sending cryptocurrency to friends and family due to the nature of cryptocurrency transactions. Cryptocurrencies operate on decentralized networks, which require additional resources and infrastructure to process transactions securely. PayPal invests in maintaining the necessary systems and protocols to ensure the safety and integrity of these transactions. The fee helps cover the costs associated with providing this service and ensures that users can send and receive cryptocurrency with confidence.
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