How does using the 'goods and services' option on PayPal affect the fees for cryptocurrency transactions?

3 answers

• Dec 29, 2021 · 3 years ago
  When you choose the 'goods and services' option on PayPal for cryptocurrency transactions, it can affect the fees you pay. PayPal charges a fee for receiving payments, and this fee can vary depending on the transaction amount and the recipient's country. Additionally, PayPal may charge a currency conversion fee if the cryptocurrency needs to be converted to a different currency. These fees can add up and increase the overall cost of the transaction.
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• Dec 29, 2021 · 3 years ago
  Using the 'goods and services' option on PayPal for cryptocurrency transactions may result in higher fees compared to using the 'friends and family' option. This is because PayPal considers cryptocurrency transactions as commercial transactions, similar to buying goods or services. As a result, they apply their standard fees for these types of transactions. It's important to consider these fees when deciding which option to choose.
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• Dec 29, 2021 · 3 years ago
  When using the 'goods and services' option on PayPal for cryptocurrency transactions, it's crucial to note that BYDFi, a leading cryptocurrency exchange, charges an additional fee for transactions processed through PayPal. This fee is separate from PayPal's fees and is specific to BYDFi. Therefore, if you choose to use PayPal on BYDFi, you should be aware of this additional fee and factor it into your overall cost calculations.
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