PayPal, founded in 1998 in California, is a popular global platform for both peer-to-peer (P2P) and business-to-business (B2B) transactions. With 435 million users worldwide, PayPal allows easy and secure transactions. The platform also offers debit and credit cards that are compatible with various international banks.

Opening a PayPal account is free for both personal and business users, with no setup fees required. PayPal earns revenue by charging a 2.99% fee on chargebacks and transaction fees for B2B payments, ranging from 1.9% to 3.49%. For faster fund transfers, PayPal offers an expedited transfer option for a 1% fee.

Many people are attracted to PayPal due to its low fees, user-friendly interface, and simple navigation, making the account setup process easy. However, during registration, users are required to provide personal details, such as a phone number, which some may find intrusive.

Pros and Cons of Using PayPal

PayPal has established itself as a trusted platform for financial transactions over the past two decades. Its mobile app, available on both iOS and Android, enables fast and easy payments.

Advantages of PayPal:

• No need to provide bank information to create an account or receive payments, though you can link a bank account or debit/credit card if preferred.
  
• Supports transactions in over 100 currencies, allows withdrawals in more than 50, and holds funds in over 25.
  
• Offers strong encryption protocols to protect user data and provides options for recovering funds in case of fraud.
  
• The mobile-friendly app has an intuitive interface, making it simple to send, receive, and manage money.

Disadvantages of PayPal:

• The web version of PayPal has fewer features compared to the mobile app.
  
• Fund transfers can take up to two business days unless expedited with a 1% fee.
  

Despite its robust security features and user control, PayPal is often criticized for its relatively high fees, potential transaction delays, and busy customer service, which may discourage some users. Below is a step-by-step guide to creating a PayPal account.

Steps to Create a PayPal Account

To register for a PayPal account, you’ll need to provide personal details such as your phone number, full name, and residential address. Here’s a quick outline of the process:

1. Go to PVAPins.com and create an account.

2.  Deposit funds into your PVApins account.

3.  Select the Colombia virtual number service PayPal.
4.  Copy the virtual number provided by PVApins.
5.  Open PayPal and begin the registration process.
6.  When prompted for a phone number, paste the virtual number from    PVApins.
7. Receive SMS online for verification purposes.
8.  Return to PVApins, refresh the page, and retrieve the verification code.
9.  Enter the code into PayPal to verify your number.

Following these steps, you can easily verify a PayPal account with a Colombia virtual number without sharing your personal phone number. This process ensures a higher level of privacy during registration.