When it comes to using your PayPal account, you must consider security levels equal to that you would expect of a bank account. It is pretty impossible to hide your login email address because it is used so often on sites. This leaves you with just the password to guess for hackers to take over your PayPal bank account.
PayPal to offer a second level of authentication which uses your mobile phone as the receiver of a text code that needs to be added when you login. This means that a hacker would not only need access to your password, but would also now need to be able to read SMS messages on your phone.
Although I do not see this solution as elegant as the use of something like Google authenticator. It still works as an extra little protection and I recommend you implement it soon.
You will find here below a short video showing you the steps that I went through to set up this authentication from my own account. Hopefully, PayPal will not change the menu is too much so that you can follow this through and implement the same thing yourself.

All user codes have been changed since is video was completed and we try to blur them out as well so please do not bother to gain access to this account.