What is PayPal USD (PYUSD)?
The following information is for educational purposes only and does not constitute an endorsement of this type of cryptocurrency. Consider seeking tax and financial advice from licensed professionals. The cryptocurrency service is currently available to PayPal Balance accounts and certain eligible US-based business account holders only.
Visit Discover Crypto for more information.
PayPal USD (PYUSD) is a type of cryptocurrency called a stablecoin now available for eligible US PayPal users. Learn more about PYUSD. Terms and conditions apply.
What is PayPal USD?
PayPal USD is a stablecoin, a type of cryptocurrency backed by US dollar deposits, US treasuries, and similar cash equivalents. You can buy and sell 1 PYUSD for 1 USD on PayPal.
What can I do with PayPal USD?
You can buy or sell PayPal USD on PayPal, using your US PayPal balance, or a PayPal-linked debit card or bank account.
You can send it to friends and family in the US on PayPal without fees. Plus, you can send it outside PayPal to Ethereum and Solana wallet addresses that support PYUSD. Network fees may apply. When you check out with cryptocurrency, we’ll sell your PYUSD to pay for your items. Or, for convenience, use PYUSD with the convert function for a fee to buy any of the cryptocurrencies we support. Learn more about PYUSD.
How do I use PayPal USD?
You’ll be able to buy, sell, hold, and transfer PYUSD in the PayPal app or on PayPal.com.
What are the fees for PayPal USD?
There are no fees to buy, sell, hold, or send PayPal USD. There is a fee to convert between PYUSD and other cryptocurrencies. Network fees may apply when sending PYUSD to Ethereum or Solana wallet addresses. Please see our Cryptocurrency Fees and Pricing for more information.
How is PayPal USD backed?
PayPal USD is fully backed by US dollar deposits, US treasuries, and similar cash equivalents. On PayPal, you will be able to buy and sell 1 PYUSD for 1 USD.
Can I transfer PayPal USD into and out of PayPal?
Yes, you can transfer PayPal USD to and from Ethereum or Solana wallet addresses that support PYUSD. Network fees may apply.
Are PayPal USD transactions taxable?
Your sale of PayPal USD, including converting from PYUSD to a different cryptocurrency, may have tax consequences. We'll provide you with an account history and gains and losses statements. Read more about taxes and cryptocurrency.
Do I have any reimbursement if there is an unauthorized transfer of my PayPal USD?
Yes. PayPal works to prevent unauthorized transfers of cryptocurrency assets. We’ll reimburse you for unauthorized transfers out of your cryptocurrency hub in the form and quantity of the cryptocurrency asset that was removed from your account, up to a maximum lifetime cap of an equivalent of $50,000.00 US dollars over the life of the account holder. Reimbursement is subject to the terms, conditions, and limitations. Reimbursement is a warranty of our services and is not insurance.
On what blockchains is PayPal USD issued?
PayPal USD is issued by Paxos on the Ethereum and Solana blockchains. We have big plans for PYUSD and believe it will help connect the traditional economy and Web3. Whenever you receive PYUSD from PayPal or a PayPal account, it’s authentic.
If you receive PYUSD on the Ethereum or Solana blockchain, you can verify it is authentic by making sure the contract address matches one of the following addresses:
Ethereum (ERC-20): 0x6c3ea9036406852006290770BEdFcAbA0e23A0e8
Solana (SPL): 2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo
Do I have purchase protection when checking out with PayPal USD?
When you check out with PayPal USD, eligible purchases will be protected by PayPal’s Purchase Protection. Limits apply.