I have been a user of paypal since they started to offer their service to the Philippines. Quite handy to online purchases like on ebay. And protection against fraudulent act like scamming is being reduced unlike those that ask you to deposit the funds on the goods you bought online to their bank account or other mode of payment. In paypal you can charge back if you did not receive the goods or defective.

Paypal is widely used payment processors in the internet from buying and selling goods, from receiving payout to those ad networks and advertising.

Advantages of having Paypal:

• You can purchase anywhere in the world that accepts paypal as a mode of payment.
• You can withdraw you hard earned paypal funds from your bank account here in the Philippines.
• Ease of payments rather than going to a local bank to pay the product purchased online.
• Using Paypal as your medium when using credit card to purchase online is much safer than exposing your credit card credentials.

Those are just some of the benefits of having a Paypal account, there are others that I know you might experience or experiencing now.

Some disadvatages:

• You need a credit or debit card to raise the limit of sending and receiving account, that for me is not an issue, because if you are serious enough to earn something in the internet then you need your Paypal Account to be verified.
• Too much fraud and scam using paypal. Again, this is on user or persons safety measures.
• Denominations are still in US Dollar. All funds on paypal are not yet on Philippine Peso but withdrawing to local bank are already converted or can be converted to other currencies.

Maybe you might add other disadvantages and advantages on using Paypal in the comment below so I can add it to the list.