PayPal, founded in 1998 in California, is a widely-used global platform for peer-to-peer (P2P) and business-to-business (B2B) transactions. Today, it serves 435 million customers worldwide, allowing users to make transactions easily and securely. PayPal also provides debit and credit cards, which can be used freely with a variety of banks internationally.

Opening a PayPal account is free for both personal and business users, with no setup fees. The platform earns revenue by charging a 2.99% fee on chargebacks and applies transaction fees for B2B payments, ranging from 1.9% to 3.49%. For users who need to expedite fund transfers, PayPal offers a fast-transfer option for a 1% fee.

Many people are drawn to PayPal for its low fees, user-friendly interface, and streamlined navigation, which encourages easy account setup. However, one requirement during registration is providing personal details like a phone number, which some users may find intrusive.

Advantages and Disadvantages of Using PayPal

PayPal has built a reputation over two decades as a reliable platform for financial transactions. Its mobile app, available on iOS and Android, supports fast and easy payments.

Advantages of PayPal

• No bank information is required to create an account or receive payments. However, you can connect a bank account or a debit/credit card if you choose.
• Supports payments in over 100 currencies, allows withdrawals in more than 50 currencies, and holds funds in over 25 currencies.
• Offers advanced encryption protocols for data security and fund recovery options in cases of fraudulent activity.
• Designed to be mobile-friendly with a straightforward interface, making it simple to send, receive, and manage money.

Disadvantages of PayPal

• While there is a web version, it has limited functionality compared to the mobile app.
• Fund transfers can take up to two business days unless you pay a 1% fee for faster processing.

Despite its data security and user control, PayPal has relatively high fees, potential delays in transactions, and a busy customer service team, which can deter some users. Below is a step-by-step guide to setting up a PayPal account.

Steps to Create a PayPal Account

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

• Select your account type and country.
• Enter your phone number, location, and other required information.
• You’ll receive an SMS confirmation code.
• Enter the code, and click “Confirm” to complete the setup.

Congratulations, you now have a new PayPal account that’s ready for fast and convenient online payments!

Registering a PayPal Account Without a Personal Phone Number

Some users are concerned about sharing personal information, including a phone number, during PayPal registration due to potential security risks. Although PayPal has strong security measures, occasional security breaches have led privacy-conscious users to look for alternatives to using their personal numbers. 

To set up a PayPal account with a Canada virtual phone number and receive SMS verification without revealing your personal phone number, PVApins offers an ideal solution. Here’s how to use PVApins:

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

2.  Deposit funds into your PVApins account.

3.  Select the Canada 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. Wait for the verification code to arrive at your virtual number.
8.  Return to PVAPins, refresh the page, and retrieve the verification code.
9.  Enter the code into PayPal to verify your number.