PayPal basics for new traders

If you're new to eBay, you've no doubt noticed that the vast majority of eBay traders seem to use a service called PayPal to manage their payments. You may have even encountered buyers or sellers that are only willing to exchange money through PayPal. In fact, when I sell, my auctions accept payment only through PayPal unless the bidder writes me specifically to request another payment method.

Why? It's convenient. It's fast. PayPal makes it easy for sellers to ensure that they've been paid and easy for buyers to prove that they've made payment. And PayPal keeps great records for you as well. So how exactly does it work, what does it take to join, and what are the risks? Read on to find out.