It isn’t subject to the EU statutory deposit insurance, however.
Edit: The above means that deposits on your PayPal account aren’t insured, different from regular bank accounts in the EU. This is a frequently emphasized caveat regarding the use of PayPal as a bank account in the EU.
You'd be surprised. A lot of sellers don't "cash out" from paypal all that often, letting tens of thousands pile up. (And inevitably, some of them get hit with arbitrary account closures and have that money seized)
In that case it isn’t, but this thread is specifically about holding money in PayPal: https://news.ycombinator.com/item?id=45250598
My point is that one doesn’t get all the protections normally taken for granted for EU bank accounts.
Is that an issue if you don't plan to "store" money in PayPal but only use it for payments?