PayPal Makes Protection Updates for NFT Transactions

PayPal will no longer cover NFT purchases under its protection program. Starting May 20, this change states that NFT transactions, especially those valued at over $10,000, will not be protected in cases of fraud. This decision partially reverses the buyer and seller protections previously offered by PayPal. Changes in NFT Transactions On March 21, PayPal announced that it would end buyer protection for NFT transactions. However, these changes will officially take effect from May 20, 2024. The company also added that after this date, NFT transactions of $10,000 and above will not be protected against fraud or unfair claims. Platform’s Crypto Moves PayPal has increased its interest in cryptocurrencies in recent years. Some of its steps in this direction include the crypto support launched in 2022 and the patent application for NFT purchase and transfer system. It seems that PayPal aims to take a more active role in the blockchain […]

PayPal Makes Protection Updates for NFT Transactions

PayPal will no longer cover NFT purchases under its protection program. Starting May 20, this change states that NFT transactions, especially those valued at over $10,000, will not be protected in cases of fraud. This decision partially reverses the buyer and seller protections previously offered by PayPal.

Changes in NFT Transactions

On March 21, PayPal announced that it would end buyer protection for NFT transactions. However, these changes will officially take effect from May 20, 2024. The company also added that after this date, NFT transactions of $10,000 and above will not be protected against fraud or unfair claims.

Platform’s Crypto Moves

PayPal has increased its interest in cryptocurrencies in recent years. Some of its steps in this direction include the crypto support launched in 2022 and the patent application for NFT purchase and transfer system. It seems that PayPal aims to take a more active role in the blockchain field with these developments.

Useful Information

Starting May 20, 2024, PayPal will remove buyer protection for NFT purchases.
NFT transactions of $10,000 and above will not be protected against fraud.
PayPal will continue to introduce new developments in blockchain and cryptocurrencies.

This policy update brings important changes for investors and users in the NFT market. This move by PayPal will directly impact users, especially those conducting high-value NFT transactions. Users are advised to be more careful in their NFT purchases and consider potential risks.

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