• Sat. May 21st, 2022

PayPal criticized for encouraging risky investments in cryptocurrencies

ByHazel R. Lang

Mar 16, 2022

Curious about crypto? PayPal slammed for bombarding customers with ads encouraging them to invest in risky cryptocurrencies

Paypal customers are bombarded with ads urging them to invest in volatile cryptocurrencies.

Experts have slammed the payment service for plugging the unregulated digital asset, which includes Bitcoin.

PayPal regularly sends emails to customers titled “Curious about crypto?”

High risk: Experts have slammed online payment company Paypal for plugging in cryptocurrencies such as Bitcoin

The email reads: “Start mining crypto with PayPal. Explore crypto at your own pace with PayPal.

“Buy, sell or hold as little as £1 worth of crypto, directly in your PayPal wallet.” It comes with a disclaimer that acknowledges the currency is “volatile and unregulated.”

But Kevin Brown, savings specialist at Mutual Scottish Friendly, says: “Notifications everywhere are telling people to invest in crypto.

It’s like the good old days when salespeople came knocking at your door. The problem with crypto is that it is unregulated. It’s way too risky.

A Paypal spokesperson said, “We recommend that customers ensure that buying crypto is appropriate for their individual financial circumstances.”


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