PayPal is known to be safe in general. If you have an issue with a transaction, PayPal provides the means to dispute it online through your account.
I got recently a security key and think it’s good investment any paypal account holder should have. Even if you don’t keep a lot of money in your account, it could still be a headache if your account for some reason got compromised. Remember, you might have your credit card account or even you bank account tied to your PayPal account.
No one knows if someone got hold of your account what kind of damage it can cause. A security key is only a $5 investment and provides an extra layer of security to your account.
I think it is well worth it.
You can easily request it from your account. Under the profile tab, click on the “PayPal Security Key” link to request the key.
Follow instruction to pay $5 for a new Security Key.
After payment, Paypal will send you a new Security Key by mail withing a week.
You will see a confirmation message saying “Your security key is now active”
Don’t worry about losing or not having your Security key with you.
PayPal will let you log into you account without a Security Key, in case your lost it or do not have it handy. Anytime you sign in, you can be presented with 2 questions in case you click on the “I don’t have my Security Key with me” link after entering you password. You can answer only one of these questions:
1- I don’t have my PayPal Security Key. The key isn’t lost, but I don’t have it right now.
2- My PayPal Security Key is lost or broken. I would like to log in and deactivate my Security Key.
Once in your account, you can click on profile and PayPal Security Key link to manage your security key.
You can have multiple Security Keys and each one has it’s own serial number.