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? How To Buy Bitcoin On PayPal ??Once the scammers have the recipient's email address, they send a fake PayPal invoice that appears to be from Coinbase, claiming that the. The PayPal emails and SMS messages informing you of a supposed Coinbase cryptocurrency purchase using your PayPal account are scams attempting. PayPal only allows cash-to-cash transfers, so the amount of your purchase was added to your Coinbase balance, then immediately used to purchase the same.