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I use one PayPal account for PayPal, Bricklink, and at least two other (at any given time depending on who we're using) eCommerce marketplaces (generally book specific ones). PayPal is happy to have the money flow through them for their fees, they don't mind how many places you want to sell stuff and send the payments through them.

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I use one PayPal business account for incoming payments (sales) and one PayPal personal account (without a balance) for outgoing payments (purchases) on eBay/Bricklink/etc. Makes accounting and tracking easier and lets me make sure my purchases are covered by my credit card protection and lets me possibly get credit card rewards.

 

Also, it keeps PayPal from "controlling" the outcome of disputes. If you have a balance with PayPal, they default to and always prefer that you use any PayPal balance first. If you do use your PayPal balance, you are basically letting PayPal be the sole judge of what happens. With a credit card, you do have a "last resort" with the credit card (although you still may lose). You could always empty your PayPal balance immediately but that's not always an available option for newer accounts.

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