Apart from the dedicated 256Bit SSL Encryption that Paypal offers to both Buyers and Sellers alike and backed by 200+ million active users world wide, some of the protection available to buyers are listed below.

Please allow us to quote what Paypal says about the protection verbatim.

 

” Buying safely

PayPal’s Buyer Protection makes buying safer. In the unlikely event you have a problem with your eligible order we’ll help make it right.

Protection for unauthorised transactions –You may be eligible to receive protection for unauthorised purchases made with your PayPal Account if you notify us within 60 days of the incident.

Refunds for incorrect orders – If an eligible doesn’t arrive or doesn’t match the seller’s description, our Buyer Protection will help you recover the full purchase price of the item plus shipping costs.

A responsive support team – Our customer service is here to assist you if a problem arises. We can help you deal with suspicious Account activity, identity theft or phishing concerns, or help resolve a problem with a purchase.” 

More about Buyers protection and is available from this link.