I have been verified for a long time so I don't remember alot haha. I have my CC on file with paypal but you can get your address verified via a phone call. You can pick a time or hit call now and they call you within 10 seconds. Until you become verified your account will be restricted. When you hit $o your account will be useless untill you verify it.
BTW if you sell on and get paid via paypal be careful on high $$ items. Buyers have like 30 days to file that they haven't recieved their item (it happens even when items arrive TRUST ME). Any big ticket items you sell either charge for tracking or pay it yourself...trust me lesson learned. I now have manditory tracking on any item that a buyer buys over $50.
