Terms and Conditions
BEFORE YOU START: BUYING AND SELLING CRYPTO ASSETS IS INHERENTLY RISKY
CRYPTO ASSETS ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC), THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC) OR ANY OTHER PUBLIC OR PRIVATE INSURER, INCLUDING AGAINST CYBER THEFT OR THEFT BY OTHER MEANS. CRYPTOCURRENCY ACTIVITY IS NOT A REGULATED ACTIVITY IN MANY STATES, INCLUDING CALIFORNIA. THE VALUE OF CRYPTO ASSETS CAN BE EXTREMELY VOLATILE AND UNPREDICTABLE, WHICH CAN RESULT IN SIGNIFICANT LOSSES IN A SHORT TIME, INCLUDING POSSIBLY A LOSS OF TOTAL VALUE. THE PRICE AND LIQUIDITY OF CRYPTO ASSETS HAS BEEN SUBJECT TO LARGE FLUCTUATIONS IN THE PAST AND MAY BE SUBJECT TO LARGE FLUCTUATIONS IN THE FUTURE. BUYING AND SELLING CRYPTO ASSETS IS INHERENTLY RISKY, AND YOU SHOULD CONSIDER THE RISKS BEFORE DECIDING TO BUY OR SELL CRYPTO ASSETS, INCLUDING THOSE PROVIDED IN OUR RISK DISCLOSURES AND STATE DISCLOSURES SECTIONS BELOW.
IF YOU HAVE QUESTIONS OR CONCERNS REGARDING YOUR CRYPTO CURRENCIES HUB, YOUR CRYPTO ASSETS, OUR SERVICE PROVIDER(S), OR RELATED TRANSACTIONS OR ACCOUNT ACTIVITY, PLEASE CONTACT PAYPAL CUSTOMER SERVICE OR CALL: (888) 221-1161. YOU CAN ALSO WRITE TO: PAYPAL, ATTN: CRYPTOCURRENCY SUPPORT, P.O. BOX 45950, OMAHA, NE 68145-0950.
These PayPal Cryptocurrency terms and conditions will be effective as of October 21, 2020.
These terms and conditions ("Cryptocurrency Terms") are between you and PayPal, Inc. and govern your use of the portion of your PayPal Cash or PayPal Cash Plus account (in either case, your "Cash Account") where you can buy, sell, hold and learn about cryptocurrency (your "Cryptocurrencies Hub") and the services available in your Cryptocurrencies Hub.
You must be an individual and resident of the United States or one of its territories and at least 18 years old, or the age of majority in your state or territory of residence, to access the Cryptocurrencies Hub within your Cash Account and use the related services. If you are a Hawaii resident, you are not permitted to access the Cryptocurrencies Hub at this time.
By accessing and using the Cryptocurrencies Hub, you agree to comply with all aspects of these Cryptocurrency Terms. Your Cryptocurrencies Hub is subject to the Agreement to Arbitrate on an individual basis that governs your entire Cash Account relationship. You also agree to comply with the following additional policies:
Please read carefully all of these Cryptocurrency Terms and each of the other agreements and policies that apply to you, including our Privacy Statement, which applies to the transaction and activity data we collect involving your Cryptocurrencies Hub. As your Cryptocurrencies Hub is part of your Cash Account, the PayPal Cash and PayPal Cash Plus Terms and Conditions apply to your Cryptocurrencies Hub, except as described in these Cryptocurrency Terms. If there is any conflict between the PayPal Cash and PayPal Cash Plus Terms and Conditions and these Cryptocurrency Terms, these Cryptocurrency Terms will govern and apply.
We may revise these Cryptocurrency Terms and any of the agreements and policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. If our changes to these Cryptocurrency Terms reduce your rights or increase your responsibilities, we will post a notice on the Policy Updates page of our website and provide you at least 21 days' advance notice, or such longer period as required by law. By continuing to use our services, including by holding Crypto Assets (as defined below), after any change to these Cryptocurrency Terms, you agree to abide and be bound by those changes. If you do not agree with any changes to these Cryptocurrency Terms, you must sell your Crypto Assets and stop accessing your Cryptocurrencies Hub. Please note that there may be tax consequences from any gain or loss you incur when you sell your Crypto Assets.
Establishing Your Cryptocurrencies Hub
If you establish and access the Cryptocurrencies Hub, you will be able to hold a Crypto Asset balance, buy Crypto Assets and sell Crypto Assets, among other benefits. You will not hold the digital Crypto Assets themselves in your Crypto Asset balance. All custody of and trading in Crypto Assets is performed for us by our licensed service provider, Paxos Trust Company, LLC ("Paxos"), or other appropriately licensed provider of trading and/or custody services that we identify from time to time ("Service Provider"). If you are a New York resident, the Service Provider will be licensed or otherwise authorized by the New York State Department of Financial Services to the extent required to perform the activities described herein. You can only use the Cryptocurrencies Hub if you have a personal PayPal account and a Cash Account in good standing, and you can only use your Cryptocurrencies Hub as part of your Cash Account by accessing it through your personal PayPal account. If you are a Hawaii resident, we will not allow you to establish a Cryptocurrencies Hub at this time.
We will automatically link your Cryptocurrencies Hub to your personal PayPal account. Your login credentials for your personal PayPal account act as the credentials to access your Cryptocurrencies Hub as part of your Cash Account.
Before you are able to first access your Cryptocurrencies Hub, we must verify or have previously verified the required identifying information that you provide to us. The required identifying information is: name, physical address, date of birth and taxpayer identification number. We may require additional information from you from time to time in order to verify the required identifying information, such as a copy of your government issued photo ID or evidence of your residency, like a utility bill.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers, or any other codes that you use to access your Cryptocurrencies Hub and the PayPal services. You agree to keep your physical address, mailing address, email address and other personal information current in your PayPal profile.
Closing Your Cryptocurrencies Hub
You must close your Cash Account in order to close your Cryptocurrencies Hub. You can close your Cash Account and Cryptocurrencies Hub without closing your personal PayPal account. Closing your personal PayPal account or Cash Account will automatically close your Cryptocurrencies Hub. You can view more information about what happens if PayPal closes your Cryptocurrencies Hub here.
Please note that there may be tax consequences from any gain or loss you incur when you sell your Crypto Assets. You can terminate your relationship with us at any time without cost, but you will remain liable for all obligations related to your Cryptocurrencies Hub, Cash Account and personal PayPal account even after those accounts are closed. You must sell any Crypto Assets in your Cryptocurrencies Hub before closing your Cash Account and Cryptocurrencies Hub. You will not be able to transfer Crypto Assets from your Cryptocurrencies Hub to another cryptocurrency wallet.
Available Features of Cryptocurrencies Hubs
As described in more detail below, here are some things you can do with the Cryptocurrencies Hub:
You currently are NOT able to send Crypto Assets to family or friends, use Crypto Assets to pay for goods or services, or withdraw Crypto Assets from your Cryptocurrencies Hub to an external cryptocurrency wallet. If you want to withdraw the value from your Cryptocurrencies Hub you will need to sell your Crypto Assets and withdraw the cash proceeds from their sale.
Supported Crypto Assets
The term "Crypto Assets" means the particular digital assets that PayPal supports and that you may buy, sell and hold using your Cryptocurrencies Hub. The list of Crypto Assets supported by PayPal at any given time can be found in your Cryptocurrencies Hub.
Holding Crypto Assets in your Cryptocurrencies Hub
Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each type of Crypto Asset shown. PayPal combines your Crypto Asset balance with the Crypto Asset balances of other PayPal accountholders and holds those Crypto Assets in an omnibus account through our custodial Service Provider. We keep a record of your interest in that omnibus account based on the amount of each type of Crypto Asset that is reflected in your balance. You do not own any specific, identifiable, Crypto Asset. These Crypto Assets are held apart from PayPal's corporate assets and PayPal will neither use these assets for its operating expenses or any other corporate or business purposes, nor will it voluntarily make these Crypto Assets available to its creditors in the event of bankruptcy.
When you view your Cryptocurrencies Hub balance, we will show you the amount of each type of Crypto Asset you own, as well as a U.S. dollar equivalent value of those Crypto Assets. The price of Crypto Assets will rise and fall over time, and the price may sometimes change quickly and dramatically. So, even if the number of each type of Crypto Assets you hold remains the same, the U.S. dollar equivalent value will change as the market price of each Crypto Asset fluctuates. The U.S. dollar value we display is an estimate based on market data from our trading Service Provider. The value we show is the midpoint between the lowest recent sale price at which the applicable cryptocurrency was offered for sale and the highest recent price at which that same cryptocurrency was purchased, as reported by the Service Provider. This estimate does not represent the value you will receive if you actually sell your Crypto Assets or the price you will pay to buy more Crypto Assets and does not include our spread or fees.
Buying Crypto Assets
You may use your Cryptocurrencies Hub to buy Crypto Assets using the following funding sources:
We do not currently allow use of a credit card or other credit products (including, without limitation, those offered by PayPal) to purchase Crypto Assets. When you buy Crypto Assets, you agree that you have enough available funds in your selected funding source to complete your purchase. If we are not able to collect the required funds to complete your purchase from your selected funding source, you authorize us to:
To buy Crypto Assets, PayPal will first show you the amount of Crypto Assets you would receive in exchange for the amount of money that you wish to spend. Because the price of Crypto Assets fluctuates, the price we provide will only be valid for a limited time. If the price we provided expires, you won't be able to complete your transaction at that price. If you still want to buy Crypto Assets, we will provide you with updated pricing information. The updated price you see may be much higher than a price that just expired. This is because Crypto Assets are inherently volatile. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will then execute your purchase with our trading Service Provider.
Once you confirm your purchase, your transaction is not reversible. If we cannot complete your purchase for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Cash Account.
When you use your Cryptocurrencies Hub to sell your Crypto Assets, we will deliver the proceeds from the sale into your Cash Account balance. The timing of transfers of proceeds may be affected by holds or limitations we place on your Cash Account, including specific holds or limitations with respect to the proceeds of the sale of your Crypto Assets.
To sell Crypto Assets, PayPal will first show you the amount of money for which the Crypto Assets would be sold. Because the price of Crypto Assets fluctuates, the price we provide will only be valid for a limited time. If the price we provided expires, you won't be able to complete your transaction at that price. If you still want to sell your Crypto Assets, we will provide you updated pricing information. The updated price you see may be much lower than a price that just expired. This is because Crypto Assets are inherently volatile. Please read the RISK DISCLOSURES for more information. Once you confirm your transaction, we will execute your sale with our trading Service Provider.
Once you confirm your sale, your transaction is not reversible. If we cannot complete your sale for any reason, we will notify you. Once your transaction is complete, we will email you a receipt. You may also see your transaction history in your Cash Account.
Information on Fees and Pricing
PayPal makes money when you buy and sell Crypto Assets. PayPal will charge a spread (or margin) between the market price we receive from our trading Service Provider and the exchange rate between USD and Crypto Assets displayed to you. The amount that PayPal makes and the exchange rate provided may be different than what you would pay on other cryptocurrency platforms. You will also be charged a fee when you buy or sell Crypto Assets. More information on pricing and fees can be found on the PayPal Fees page, the PayPal Cash Long Form Disclosure and the PayPal Cash Plus Long Form Disclosure.
At the time you buy or sell Crypto Assets, we will disclose to you the applicable exchange rate and the amount of fees that you will be charged for that transaction. The exchange rate may include an estimated spread of one-half of one percent (0.50%), provided, however, that the actual spread may be higher or lower based on market conditions. We will not separately calculate or disclose the spread we earn on each transaction. By using your Cryptocurrencies Hub, you agree to pay all applicable exchange rates (including spread) and fees.
If you use a linked bank account or debit card as a funding source to buy Crypto Assets, your bank may charge you its own fees, including overdraft fees or insufficient fund fees, if applicable. PayPal is not responsible for any fees that may be charged to you by your bank.
You cannot reverse, cancel or change any transaction once it has been authorized. If your payment method has insufficient funds, you reverse the payment transaction, or we otherwise do not receive payment for your transaction, you authorize us, in our sole discretion, to (i) debit any other balance you hold in your PayPal Cash account, (ii) debit any other funding source you have linked to your personal PayPal account (iii) remove the Crypto Assets from your account for which did not receive payment and/or (iv) take any other action that we deem necessary to collect payment for your transaction, as allowed or required by relevant laws and regulations.
We also reserve the right to not process, to cancel or, to the extent possible, to reverse a transaction, if (i) we believe that the transaction relates to any Restricted Activities, (ii) we have placed a hold or limitation on your PayPal account (including your Cash Account), (iii) we have suspended your Cryptocurrencies Hub, (iv) we believe the transaction involves money laundering, terrorist financing, fraud or any other type of crime or (v) in response to a subpoena, court order, or other government order. In such instances, regardless of the reason we have blocked, cancelled or reversed your transaction and regardless of the reason we have lifted or reversed that restriction, we do not guarantee you will be able to reinitiate your transaction at the same price or on the same terms as the transaction that we did not process, or that was cancelled or reversed.
While we will try to complete purchases and sales of Crypto Assets that you authorize and that comply with these Cryptocurrency Terms, we do not guarantee your ability to buy or sell Crypto Assets. Your ability to buy or sell Crypto Assets may be delayed or unavailable due to the availability of the Crypto Asset or funds from your funding source, issues with the trading network or our ability to interface with our Service Provider(s), system downtime, limitations or suspensions we impose on your Cryptocurrencies Hub in our sole discretion, for required safety, security, or legal reasons, or for other reasons outside PayPal's or any Service Provider's control, and we are not liable to you if we are unable or delayed in executing your transactions.
Your access to the Cryptocurrencies Hub or your ability to hold, buy or sell Crypto Assets, including the price for buying and selling, can also change or be limited by extraordinary circumstances outside our control (for example, fire, flood, accident, riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion, breakdown of communication facilities, breakdown of web host, breakdown of internet service provider, natural catastrophes, governmental acts or omissions, changes in laws or regulations, national strikes, fire, explosion, generalized lack of availability of raw materials or energy, or extreme financial market conditions), which we either did not reasonably foresee or that happened despite our reasonable precautions ("Extraordinary Circumstances"). PayPal will not be liable to you for limits, suspension, delay, or change to your Cryptocurrencies Hub or your inability to transact in Crypto Assets because of Extraordinary Circumstances, including any changes in the buy or sell price of Crypto Assets because of Extraordinary Circumstances.
PayPal may buy and sell cryptocurrency through an affiliate of Paxos acting as a market maker to provide liquidity (the "Paxos Affiliate"). The Paxos Affiliate may in turn buy and sell cryptocurrency through Paxos' cryptocurrency exchange, provided, however, that (a) Paxos Affiliate trading will always be designed to be revenue-neutral over the long term (i.e. the Paxos Affiliate will not profit from these transactions as a whole), and (b) the Paxos Affiliate will not use earlier or different access to information about exchange trading from what is available to other participants on the Paxos exchange.
The value of virtual currency may be derived from the continued willingness of market participants to exchange fiat currency for virtual currency, which may result in the potential for permanent and total loss of a value of a particular virtual currency should the market for that virtual currency disappear.
There is no assurance that a person that accepts virtual currency as payment today will continue to do so in the future.
Cryptocurrency assets in a given address are controlled by the private key of the holder of the address. If the private key is compromised or lost, the cryptocurrency assets in that address may be stolen or lost and otherwise unrecoverable.
Crypto Assets are not insured by FDIC, the Securities Investor Protection Corporation (SIPC) or any other public or private insurer, including against cyber theft or theft by other means. Cryptocurrency activity is not a regulated activity in many states, including California. The value of Crypto Assets can be extremely volatile and unpredictable, which can result in significant losses in a short time. Buying and selling Crypto Assets is inherently risky, and you should consider the risks before deciding to buy or sell Crypto Assets, including those provided in our STATE DISCLOSURES section below.
Market Data & Educational Content
Within your Cryptocurrencies Hub, you'll find educational content on cryptocurrency generally, the cryptocurrency market and the particular Crypto Assets available to buy and sell through the Cryptocurrencies Hub. The educational information available through your Cryptocurrencies Hub is provided as general educational background. The information is not tailored to individual PayPal users and therefore, is not provided based on your individual financial, investment, tax, legal or educational needs and circumstances. The information is not investment, financial, tax, legal or trading advice. The information may include content provided by third parties; we take no responsibility for third-party educational materials.
Within the Cryptocurrencies Hub you will also find information on the market price of the Crypto Assets based on the data shared with us by our trading Service Provider. The market price for Crypto Assets may be different on different marketplaces. The market data that we provide to you is from an external source that we believe to be reliable. However, we do not control the external sources or the data they provide, and we do not always independently verify that the information provided is complete and accurate. Therefore, we cannot and do not guarantee that the information is accurate, complete, timely, or suitable for use, and it may be inaccurate, incomplete or out of date. You should verify all information that you receive before relying upon it, and we have no liability to you if you make decisions based on the market information that you receive from or through us.
No Investment Advice
Neither PayPal nor its Service Provider(s) provide investment advice to you. You are solely responsible for all decisions to buy or sell Crypto Assets through your Cryptocurrencies Hub, and we do not manage your Cryptocurrencies Hub on your behalf. Our sole responsibility is to execute trades and hold Crypto Assets on your behalf through our Service Provider, in each case based on your instructions and these Cryptocurrency Terms.
While PayPal provides certain educational content, it is provided for general background information and is not specifically tailored to you and your individual needs and circumstances. You must determine if any particular purchase or sale or Crypto Assets is appropriate for you, based on your own investment objectives, financial circumstances and risk tolerance.
Crypto Asset Software Protocols and Forks
The technology that creates cryptocurrency, including your Crypto Assets, is typically governed by underlying software protocols that are open source, which means that anyone can use, copy, modify or distribute them. PayPal does not currently own or control the underlying software protocols and these software protocols can change suddenly and unexpectedly in a way that has a significant impact on your Crypto Assets. Because we don't control this technology, PayPal is not responsible for the operation of the underlying software protocols and cannot guarantee the continued functionality, security or availability of any Crypto Asset. PayPal, however, will only support those assets for which PayPal has performed the necessary due diligence.
Software protocols governing a Crypto Asset can experience sudden changes in operating rules that are outside PayPal's control, called "forks." A fork can have a material change on the operation, functionality, value or even name of a Crypto Asset. A fork may result in multiple versions of a Crypto Asset, and each version could have a very different, and possibly lower, value than your Crypto Asset before the fork.
PayPal may or may not support the fork of a Crypto Asset, whether or not the forked Crypto Asset holds any value. In the event of a fork, PayPal may temporarily suspend trading of Crypto Assets in order to determine whether or not it will support any particular fork. In the event of a fork, PayPal will evaluate the feasibility of supporting the fork and determine whether and to what extent any new assets resulting from the fork may be supported and/or allocated. This evaluation will take into account factors such as, but not limited to, the technical issues around supporting a fork, Service Provider dependencies, and legal and regulatory considerations.
You agree that PayPal is not responsible or liable to you for any losses or damages, including lost profits, which may occur as the result of a change in the underlying software protocol of a Crypto Asset, PayPal's determination to support or not support any particular fork or modified software protocol, and any interruption of trading while PayPal makes such determination. If PayPal determines not to support a fork or modified software protocol, you may never get access to the assets governed by that fork or software protocol.
From time to time, we may, in our discretion, impose limits on the amount of Crypto Assets you can buy or sell, which may include limits on the cash value or number of transactions in which you can engage over particular periods of time. Standard transaction limits are as follows:
We may change the above limits for safety, security or other lawful reasons. You can view your current limits by logging into your personal PayPal account.
Transaction History and Account Statements
You can view your Cryptocurrencies Hub transaction history by logging into your Cash Account. Your PayPal Cash Account statement will also include information on your purchase of Crypto Assets and the proceeds from the sale of your Crypto Assets, as well as your beginning and ending Crypto Asset balance and the fees you paid to buy and sell Crypto Assets. Your PayPal Cash Account statement may not include all of the details regarding your purchase and sale of Crypto Assets that are available in your Cash Account transaction history.
In addition to the other "Restricted Activities" identified in your PayPal Cash and PayPal Cash Plus Terms and Conditions, you must not engage in the following "Restricted Activities":
Actions We May Take if You Engage in Any Restricted Activities
If we believe that you've engaged in any Restricted Activities, we may take a number of actions to protect PayPal, its customers and others at any time in our sole discretion. In addition to the remedies identified in your PayPal Cash and PayPal Cash Plus Terms and Conditions, the actions we may take include, but are not limited to, limiting your access to or use of the Cryptocurrencies Hub, and/or suspending your Cryptocurrencies Hub, immediately and without penalty to us, including limiting your ability to buy or sell Crypto Assets. You authorize PayPal to seize your Crypto Assets if we believe a transaction relating to those Crypto Assets involves money laundering, terrorist financing, fraud or any other type of crime.
If we close your Cash Account and Cryptocurrencies Hub or terminate your use of the PayPal services for any reason, we'll provide you with notice of our actions. You can find more information on what happens if we close your Cryptocurrencies Hub here. If you believe we have taken any action in error, please contact PayPal customer service or call: (888) 221-1161. You can also write to: PayPal, Attn: Cryptocurrency Support, P.O. Box 45950, Omaha, NE 68145-0950.
You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by PayPal, any PayPal customer, or a third party caused by or arising out of your breach of these Cryptocurrency Terms, and/or your use of the PayPal services.
It is your responsibility to determine what taxes, if any, apply to transactions you make using your Cryptocurrencies Hub. You can access your transaction history and account statements through your PayPal account for purposes of determining any required tax filings or payments. However, we will provide you any required Internal Revenue Service (IRS) forms 1099 with respect to the sale of any Crypto Assets for your tax records, and we will report any necessary form 1099 filings to the IRS.
PayPal will protect you from unauthorized activity involving the purchase or sale of Crypto Assets in your Cryptocurrencies Hub. When this protection applies, PayPal will cover you for the full amount of unauthorized activity, as long as you cooperate with us, follow the procedures described in the unauthorized transaction process of your Cash Account terms, and follow the additional requirements described below related to your Cryptocurrencies Hub.
If you claim there has been an unauthorized purchase of Crypto Assets, you may not sell those unauthorized Crypto Assets before you report the unauthorized purchase to PayPal or while PayPal investigates your claim. If you sell any Crypto Assets that you claim you did not purchase, PayPal will deny your claim for those sold Crypto Assets. You will not be able to recover any funds used to purchase the sold Crypto Assets. We will continue to address your claim for any disputed Crypto Assets that you did not sell.
If PayPal determines the Crypto Assets were purchased without your authorization and provides you a refund of the money used to purchase the Crypto Assets, or if you have disputed the transaction and received a refund from any other source such as your bank or card issuer, you agree that PayPal will take back the Crypto Assets and will remove them from your account. You agree not to sell the Crypto Assets prior to PayPal removing the Crypto Assets.
If you sell the Crypto Assets for which you have received a refund (whether from PayPal or any other source such as your bank or card issuer) before PayPal removes the Crypto Assets from your Account, PayPal may recover from you the greater of (i) any sales proceeds from your sale of those Crypto Assets and (ii) the amount of any refund PayPal provided to you.
If you believe there has been an unauthorized purchase or sale of Crypto Assets in your Cryptocurrencies Hub, please contact PayPal customer service immediately or call: (888) 221-1161 or write: PayPal, Attn: Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950.
Except as it relates to the sale of Crypto Assets that you claim have been purchased without authorization as described above, PayPal will apply the same error resolution processes we apply to your Cash Account, as provided in your PayPal Cash and PayPal Cash Plus Terms and Conditions.
If you claim an error has caused you to receive additional Crypto Assets that you did not purchase, you may not sell such additional Crypto Assets before you report the error to PayPal or while PayPal investigates your claim. If you sell any Crypto Assets that you claim you did not purchase, PayPal will deny your claim for those sold Crypto Assets. If you receive Crypto Assets in error and sell such Crypto Assets, we may recover the amount of any sale proceeds from you.
If you believe there has been an error with respect to your Cryptocurrencies Hub, telephone us at (888) 221-1161, contact us through the PayPal Resolution Center; or write us at PayPal, Attn: Error Resolution Department, P.O. Box 45950, Omaha, NE 68145-0950. You must follow the procedures provided in the PayPal Cash and PayPal Cash Plus Terms and Conditions in order to report an error. The PayPal Cash and PayPal Cash Plus Terms and Conditions explain the process we follow to investigate and resolve errors. To the extent PayPal determines that an error occurred, and such error is attributable to PayPal or our Service Provider, we remain responsible for resolving such error.
If you have other questions or concerns regarding your Cryptocurrencies Hub, your Crypto Assets, our Service Provider(s), or any related transactions or account activity, please contact PayPal customer service or call: (888) 221-1161. You can also write to: PayPal, Attn: Cryptocurrency Support, P.O. Box 45950, Omaha, NE 68145-0950.
PayPal may, in its sole discretion and without liability to you, not allow you to establish or access the Cryptocurrencies Hub or suspend, close or terminate your Cryptocurrencies Hub, or place a limitation on the type or amount of activities in which you can engage using your Cryptocurrencies Hub. This may occur if we are unable to verify your identity, you engage in Restricted Activities, pursuant to a court order or other legal process, you violate these Cryptocurrency Terms or another agreement between you and PayPal, we are no longer offering Cryptocurrencies Hubs in your state of residence, or our service provider is no longer supporting the Cryptocurrencies Hubs, among other reasons.
Your Cryptocurrencies Hub will also be suspended or terminated if we suspend or terminate your Cash Account pursuant to the PayPal Cash and PayPal Cash Plus Terms and Conditions. If your Cryptocurrencies Hub is suspended, the Crypto Assets in your account may fluctuate in value and we are not liable for any losses you may incur as a result of those fluctuations.
If we close your Cryptocurrencies Hub, and your account holds Crypto Assets, you authorize us, in our discretion and at any time, to liquidate the Crypto Assets in your account into U.S. dollars at the price that otherwise applies to the sale of Crypto Assets, or another reasonable price determined by PayPal in its reasonable discretion. You understand that the value of Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While PayPal will notify you that your account has been closed, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
If we liquidate your Crypto Assets, we will credit any unrestricted funds to your Cash Account. Please note that there may be tax consequences from any gain or loss you incur if we liquidate your Crypto Assets.
PayPal suspension and termination rights
PayPal, in its sole discretion, reserves the right to suspend or terminate these Cryptocurrency Terms, access to or use of its websites, software, systems (including any networks and servers used to provide any of the PayPal services) operated by us or on our behalf or some or all of the PayPal services.
Except where prohibited by law or regulation, as security for the performance of your obligations under these Cryptocurrency Terms, you grant to PayPal a lien on, and security interest in and to, your Crypto Assets.
Amounts owed to PayPal
If the balance in your Cash Account (including your Cryptocurrencies Hub) becomes negative for any reason, that negative balance represents an amount that you owe to PayPal. In addition to any rights we have under the PayPal Cash and PayPal Cash Plus Terms and Conditions, you authorize PayPal to sell your Crypto Assets and use the proceeds to pay a negative balance you owe to us in any PayPal account you own.
If we sell your Crypto Asset to pay amounts you owe to us, we will value the Crypto Assets using the price that otherwise applies to the sale of Crypto Assets, or another reasonable price determined by PayPal in its reasonable discretion. You understand that the value of Crypto Assets may rise or fall quickly and that we have no obligation to sell at a time that provides the best price for you. While PayPal will notify you if you have a negative balance, regardless of how quickly we sell your Crypto Assets, we have no obligation to give you notice before we sell.
Our failure to act with respect to a breach of any of your obligations under these Cryptocurrency Terms by you or others does not waive our right to act with respect to subsequent or similar breaches.
No Other Encumbrances
Other than our lien and security interest described above (which PayPal will take on or in your Crypto Assets only if doing so is not prohibited by law or regulation), PayPal will not pledge, hypothecate, assign or otherwise encumber your Crypto Assets.
New York Disclosures
Rhode Island Disclosures