PayPal is an american company offering payment services that enable people with email addresses to send and receive payments without disclosing bank details, using the Internet. Simplifying, PayPal works like your online wallet, or a piggy bank. By linking your bank account, credit or debit card to your PayPal account, you can use it to make purchases online. With over 360 million active users in more than 200 countries, PayPal is definitely dominating the digital payment world.
How does PayPal work?
To use PayPal, first you have to create an account and link your bank account, credit card or debit card to it. PayPal is basically an intermediary platform, enabling you to trade money without exposing your bank account information to traders and merchants you’re cooperating with. It can also be used to secure sending and receiving money from your family and friends!
How to sign up to PayPal?
To sign up to the PayPal platform, the first thing you’re going to face is choosing the type of an account you want to create - business, or personal? Then, you need to enter your phone number and confirm it with the verification code you’re going to be sent. Another step is to fill in the rest of the information about you, such as an email, name and surname, also you’ll have to create a strong password (the best ones are those containing big and small letters, numbers and special signs). Registration also involves providing your personal information - your birth date and an address.
What are the advantages of using PayPal?
Using PayPal actually has a ton of advantages. The main one, for sure, is worldwide availability. Signing up for this platform enables you to make payments on over 200 transaction currencies, so you don’t have to worry about currency conversion. Another one is mentioned earlier making transactions without revealing bank details, which provides extra safety during online shopping. PayPal is also very intuitive to use, so the transactions aren’t complicated and won’t stress you out. You can also use PayPal to transfer your money earned on Paidwork. If you need further information, click here.
Is PayPal safe?
Yes. PayPal is a highly secure service, which safety is provided to you by being backed with some of the best end-to-end encryptions available. However, despite the best security, you always need to be aware of the existence of high-level hacking. Always watch out for scammers trying to take money from your online pocket. Following risks can also be the payment system being used for illegal purposes, such as fraud, gambling or money laundering. A little less scary risks are understatements between buyers and sellers, that can lead to money disputes.
To sum up, remember to set a very strong password, regularly check your account and also use PayPal wisely. These three steps should be enough to not get in trouble.