Anyone signing up for crypto payments on PayPal?

[Sharpnshinyknives]

Been getting emails from PayPal that they are accepting crypto payments and you can opt in to receive payments this way. The conversion to dollars is instantaneous so that eliminates the risks of the value of the crypto currency falling on you. Don’t know what to think or what to do. Anyone else singing up for this? Any drawbacks that anyone has uncovered?

[bestgear]

Anyone else singing up for this?

As Nikki Glaser said at Tom Brady’s roast, “Even Gronk know that not real money” and Sergeant Schultz used to say, “I Know Nothing”.

[FRJ]

The "crypt" part gives me pause.

[Sharpnshinyknives]

I still haven’t figured out how any of this crypto business has any value? The best part of their offer is that they convert it to USD immediately and there is no need to hold or accept crypto into any account where you would run the risk of fluctuation. I have no desire to own any crypto currency so this is a decent way to offer it to those who do. I just don’t have enough information to make an informed decision. It’s hard to find out what all this involves without making changes to our account to do it. Just hoping someone that understands what’s involved could chime in.

[SwedgeHead]

I hold quite a lot in crypto but wont go into the pros and cons, its definitely high risk vs high reward.
But you should be aware that accepting crypto and converting it to US currency is a taxable event.
So depending on your volume or dollar amount that could be something to watch as there are specialized tax forms needed to report on this.