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Curious about crypto? PayPal criticised for bombarding customers with adverts encouraging them to invest in risky cryptocurrencies
Paypal customers are being bombarded with adverts encouraging them to invest in volatile cryptocurrency.
Experts have criticised the payment service for plugging the unregulated digital asset, which includes Bitcoin.
PayPal has sent regular emails to customers titled ‘Curious about crypto?’
High risk: Experts have criticised online payments firm Paypal for plugging cryptocurrencies which include Bitcoin
The email reads: ‘Start exploiting crypto with PayPal. Discover crypto at your own pace with PayPal.
‘Buy, sell or hold as little as £1 of crypto, right in your PayPal Wallet.’ It is accompanied by a warning that acknowledges the currency is ‘volatile and not regulated’.
But Kevin Brown, savings specialist at mutual Scottish Friendly, says: ‘The notifications are everywhere telling people to invest in crypto.
It’s like in the old days when salesmen would come knocking on your door. The problem with crypto is it is not regulated. It is far too high-risk.’
A Paypal spokesman says: ‘We recommend customers ensure purchasing crypto is right for their individual financial situations.’