In the next few days, Redeeem will start allowing sellers to post offers for "PayPal Transfers", which will represent peer-to-peer (friends) PayPal transfers. These offers can be purchased by buyers who have a PayPal account in good health and live in a country where bitcoin might be cheaper, safer or easier to buy—and are willing to trade for a small fee.
With strict KYC requirements at Redeeem (including new integrations with Civic App) and 1-2 years of valuable Trust Ratings data on traiders, we are in a unique position to launch a safe and trusted P2P marketplace for PayPal to bitcoin transfers directly within Redeeem's current product flow. Trades will be limited to $500 per order initially and you can trade only up to your daily limit—no different than every other gift card brand.
We will not shut down our existing PayPal transfer flow, however you might find offers under 7% by going through the P2P exchange. Our goal with this new offering is to provide more liquidity for PayPal, reduce fees, and decentralize payments away from Redeeem so it's more sustainable long-term.
We hope this exchange can be rolled out slowly and safely, and we appreciate your cooperation as we make a push towards a more sustainable future for our PayPal users on Redeeem.
To buy bitcoin with PayPal using the peer-to-peer exchange, go to the Sell Cards page in the app. As always, we welcome your feedback and you can start a chat with us on the site at any time.