If you're phone is lost or stolen, you'll still have access to your PayPal account. You'll be able to use a one-time passcode to sign in to your account, and you can update authentication settings.

Here’s what you need to know. Problems with your account: these phishing scams impersonate official PayPal communications and work to leverage fear that an account could be suspended.

at which point you can click "Done" and start using your PayPal.Me link to receive money. Your link will also be listed in your account settings in case you forget it.