am i to assume that this replaces your password? EDIT: nevermind i see now that it is in addition to the password.In any case no, this is the first time I have heard of this device. Kinda pointless unless you do a lot of paypal transactions.
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I've never seen it. I'm not that paranoid but I guess some are. It's a way for PayPal to cover their own (removed) in case of attempted illegal use of your account.
I have a buddy who has to use a similar device to access his work email. Seems like a hassle to me, but it should provide additional security. I use paypal so little, I won't sign up for one
I have a key fob for work similar to this as well, we have to use it for some secure corporate apps. Kind of a PITA, but it keeps others (and usually me) from accessing that stuff. The number changes every 60 seconds and can be up to 8 digits, so if I don't type something in wrong I end up with the timing wrong so the token changes on me and I have to try to log in yet again. $5 Paypal is charging is dirt cheap for one of these, the people who supply my work with these things are really ripping them off. Something to the tune of $300 a pop up front and another $300 every few years for the key fobs themselves, god knows how much for the software on the servers to run this stuff... So this gizmo from Paypal may be worth the price of admission if you do a lot of paypaling, much more security than just a username/password.
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