PayPal - What it is and How to Set it Up

If we're going to succeed in making money, there's one thing we all need:

A VESSEL

A vessel gives us the opportunity to hold in it whatever we are interested in placing inside it. The bigger the vessel, the more it will be able to hold, and the more we will be able to have. The smaller the vessel, the less we will be able to hold on to.

The famous story is told of the old days, where everybody would store their money under their mattresses (although I'm sure there are many who still do!) Of course, once one is making huge amounts of cash, it becomes a little difficult to do this - and a little uncomfortable for sleeping purposes as well!

And so, banks came about. Banks have evolved from institutions that would store huge sums of cash, to the additional and more necessary electronic storage system. Essentially banks store our money today in electronic form. Even though there must be real cash to have an effect, when we inquire about our money from a bank, we are not shown some huge vault with every cent we've earned. Instead, we receive a small piece of paper with a representative figure of it, indicating the value of money we have "saved" in the bank.

When it came to the issues of transferring money on the Internet, this same concept followed, when PayPal came about. Essentially PayPal is a secure Internet Banking system that allows money to pass by from one person to another in an electronic manner. The great thing about it, is that everybody who has a credit card - or a PayPal account with money in it - can make use of it to purchase things online - and of course to receive payments for their own things.

That means that even if a person is not registered as a credit merchant, he can still obtain funds from someone across the globe by means of asking for their credit card details. He incurs no credit card fees for the transaction, although PayPal do take a commission (which can easily be seen on their site.)

In addition to being able to sell things online - no matter what you have - and receiving payment for them, PayPal embedded another useful utility - the Donate utility. It works quite simply! Put one of these icons on to a web page or blog page of yours, and ask your friends and family - and of course every other person in the world to donate a small amount of their hard earned cash - for your noble causes.

These are the vessels. Suddenly what once may have been an outstretched arm with open hand asking for money, is exchanged for an icon on your web page allowing all and sundry to bestow their wealth for your own purposes. Isn't life terrific?!

So how much does it cost?! How does one go about joining the PayPal craze?! Will people actually trust this? Will I get paid? Is it reliable? How will I practically use it? Can I really make money on the Internet with such a simple system?!

COSTS:

PayPal costs practically nothing to join! It's open to a number of countries - although unfortunately not all yet. If you're in the USA and have a bank account, there will be no charge at all. If you are located in certain other areas - such as Israel, you will need to submit your credit card details to PayPal. They will take off $1.95 (at the time of writing this article) to check that everything is in order, but you will receive it back again when you withdraw your first amounts. So... you really don't lose anything!

If you do make use of the Israel system (for example) you will be charged another 22 Shekel each time you make a withdrawal, so do be careful not to take out your money in small quantities as it will end up costing you a lot!

PayPal also has certain restrictions as to how much you are allowed to take out in one day (if you are forced to using the credit card system.) You can find out more on their site, or alternatively email them to confirm exactly what the maximum amounts may be for your location. In Israel, one is only permitted to withdraw $750 per day.

HOW TO JOIN PayPal IN JUST A FEW EASY STEPS:

1. Go to http://www.PayPal.com 
2. Click on Sign-up 
3. Choose what type of account you'd like - Personal, Premier or Business.

The information on the page is clear enough to help you select which is better for you. 
If you're private and just purchasing things, go for personal. 
If you're wanting to make some money yourself, choose Premier. 
If you're serious about business transactions, you'll need to select Business.

Remember, each carries certain tax constraints, and you must select the option best for you.

4. Fill in your details...

AND YOU'RE DONE!

NB: Choose a strong password. PayPal is a target site for hackers just wanting to get at your wealth - as easily as they can! Keep in mind that if anything happens to your wealth, you'll have a hard time retrieving it again!

PayPal'S TRUST

Almost every single commercial site on the Internet is using PayPal. It's a huge success! Those who may mistrust such things as credit card transactions on the Internet etc., may just as well be concerned regarding their credit card in real life situations as well. It doesn't take much to use a credit card on the Internet, and whether or not the credit card is used for the Internet or in real life person - it is equally as easy to misuse it.

GETTNG PAID

It's an amazing feeling to log into one's account and see the wealth accumulating. But it just seems too unreal! Is it actually mine?!

Yes. With just a few clicks after logging into one's account, one can select how much money to retrieve. The money will either be deposited into one's bank account (if one is in a place like the USA) or alternatively onto one's credit card (if for example, one is in Israel.) Don't forget there are fees attached for the credit card!

It can take a few days or more for the money to come through, so don't get in a panic and do be patient.

RELIABILITY

PayPal works like a wonder! For those purchasing, they simply enter their credit card details with the normal numbers and expiry date etc. and the transaction is completed! For those receiving funds, the moment this happens, one will receive an email verifying the transaction has taken place. Check it out on your PayPal account directly if you're unsure of things.

There *are* phishers and others out there who regularly send emails requesting your personal details. These people will claim that they're PayPal and you know... "Just checking in... checking up... updating details" and the like! Don't reveal anything to them. Go back to your account and check that everything is in order, and never reveal your personal information to anyone claiming to be PayPal. If in ANY doubt about a PayPal transaction or email - that vaguely speaks of the need for you to reveal your personal information, be sure to log in to your account and email PayPal directly first!

PRACTICAL USE

You're going to want PayPal for two things. You're going to want donations! Everyone does! Almost every site making use of PayPal sticks the DONATE button somewhere where everybody can see it. Actually you might be amazed at just how many people want to help others involved in some sort of contribution to the Web.

You'll also want PayPal so that you can sell things to others.

I'm going to be publishing other articles to share a number of things you can use the Internet for in order to let others know that you have something - that someone else wants! And with ease, you'll be able to let them know all about it, and - donate, or no donate - they'll be happy to pay using this nifty and easy tool!

CAN *I* MAKE MONEY USING PayPal?

YES! As they say with a click of the fingers - it's that simple! You're going to need to let others know what you have for them. You may wish to create a blog. It's easy to do as we'll learn together in future articles. Once you begin sharing something of yourself to others and what you have available for them, you'll be able to charge them - or of course to simply ask others to help in donating to your causes and allow you to progress in your own work. It's mutual. You give something to others who enjoy what you have to offer, and in return you see some sort of return on investment!

CONCLUSION

Join me for further articles, when we'll be talking some more about PayPal later on again and come back to it when we deal with using it in more detail for other purposes.

PayPal is the Internet ticket to receiving wealth. It's the ultimate vessel needed to allow others to pay you whatever it is you're asking from them. It's fun to use, easy, user friendly when everything is set up correctly, makes a big impression on users (who think you're a real Internet professional and a huge business!)

So, get started today. Sign up with your account and let's move forwards to our next lesson, where we'll get to better grips with setting ourselves up for generating income.