Basically put, I need PayPal. From sending my friend money to play poker or receiving money for my article writing service, I find it uberly necessary to use PayPal. But man do they charge outrageous rates for receiving transactions. Let me say this, for a $4 transaction, they took $0.46 out of that money, thats almost 20%. Who else charges that much? Ridiculous. Quoting one of my fellow bloggers, “PayPal sucks and they use it to pay for the money market rates”. I concur.

The only outstanding factor with PayPal is that I can watch my money that I receive from all of these transaction, now totaling $78.23, is put into a 2.98% interest money market account on PayPal. Yes there is some risk involved but as of now its too little to worry about the risk and barely anything to acrue interest off of.  It’s very convienient to have the money you earn put into a virtual savings account. If you use PayPal and want convienience, definetly use this system and make them pay you back for charging outragteous rates on each transaction.

This concludes one of my short weekend posts. Cameron, out.

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Filed under: Alternative Income