Also of note: Different cryptocurrencies are built on different blockchains. Bitcoin is built on the, well, bitcoin blockchain; ether is built on the ethereum blockchain. There now are some cryptocurrencies or tokens that are essentially built on top of other cryptocurrencies — but at the most basic level, all cryptocurrencies refer back to a blockchain. Plans bitcoin transfers more Transactions in a cryptocurrency which link to traditional currencies are traceable through the traditional currency bank account statements, or blockchain. Cryptocurrency transactions themselves are public but the users remain anonymous and cannot be traced without access to the currency holder’s ‘wallet.’ As there is no third party institution, like a bank, who can be relied upon to comply with orders for disclosure if needs be, there is no way to force disclosure of anonymous transactions short of hacking the user’s wallet.
You should not attempt to use your Cryptocurrencies Hub to hold, receive or request any digital assets other than the Crypto Assets supported by PayPal. If you attempt to receive or hold digital assets in your Cryptocurrencies Hub that are not supported by PayPal, or someone attempts to send such unsupported digital assets to you (including via an airdrop), they will be permanently lost. PayPal is not responsible or liable to you for any losses or damages which may occur as a result of any attempt to use the Cryptocurrencies Hub with any digital asset we do not support. Interested in opening an account? No identification requiredWe are an affiliated Swiss financial intermediary and our regulation allows for KYC-less money exchange under certain thresholds. As a result, you can buy BTC by bank transfer without having to verify your identity below the limits shown here. You can still choose to identify and lift these limits.