Can I recieve payments/buy things from others with an unverified PayPal account?

It is taking a while to verify my PayPal account.
Can others send me payments with my account still unverified? If so, is there a limit to how much they can send me?
Also, can I buy stuff from ebay while my account is unverified? If so, is there a limit to how much I can spend?

See original post by gctrade