I thought a made this correction post days ago, but I don't see it now. Anyway, I overreached (erred) when I said, in my post, "It means, for example, if you sell to the UK and Canada, you must also sell to and accept credit card-funded payments from Nigeria, where you have no charge-back protection!"

As noted by another poster, you can still specify which foreign countries you wish to sell in. By the way, these three countries (only) have the seller protected by the PayPal Seller Protection Policy: US, UK, Canada. However, no matter where you sell, the Seller Protection Policy does not cover false or true SNAD (significantly not as described) claims made by the buyer. For example, any buyer anywhere on eBay can say he received an empty box, do a charge-back, and the seller is completely out of luck -- no compensation from PayPal. The moral is: only sell with PayPal on volume items where you can build the few expected cases of fraud into your profit model. Don't use PayPal for very expensive items where you can't afford the loss. Simple as that.

Robert