Do NOT open a PayPal account. PayPal is evil and deserves to die a horrible corporate death. Should you disregard this warning here are the steps you must take to ensure that PayPal doesn't keep all your information forever when they decide to lock you out of your account for reasons beyond your control:
1. DO NOT use your primary personal bank account. Don't do it! Open a crap bank account at some banking institution and use that account ONLY for transacting with PayPal.
2. DO NOT use your personal credit cards that you like and use for other purposes. Get a separate credit card, preferably associated with the institution holding your PayPal bank account.
3. DO NOT use any phone number or email address you care about. Only use contact information you can walk away from without any grief on your part. PayPal never calls anyway, so get a pay as you go phone and its associated phone number, and then toss it when the minutes run out.
4. DO NOT use your home address! PayPal doesn't allow post office boxes, but they have no way of blocking your UPS Store mailbox etc. Suppose your box number is 221, then in your address simply refer to it as "unit 221" or "#221" or whatever.
5. DO NOT DO NOT DO NOT give PayPal your social security number. Don't do it!
If it's already too late and you have a PayPal account that uses any of the personal information listed above, and your account hasn't yet been locked, there's still hope! Just go through steps 1-5 above and update your PayPal account accordingly. Once your account is locked out you are toast and you'll never be permitted to change any of the information, including your banking information, ever. EVER.
And you might want to check out the Ebay Stealth Guide: http://www.auctionstealth.com/