Bitcoin Forum

What are the clever ways to exchange Bitcoin and Paypal? How we can make this exchange possible and regulated?
Is there any user friendly platform where we can exchange Paypal and Bitcoin!

There are few businesses that offer BTC-Paypal convertion.

The only one I used is coinimal (https://www.coinimal.com/), an Austrian company. You can buy or sell bitcoins, PayPal is one of many options.

I wouldn't recommend selling BTC for Paypal if you need to convert to local currency. In my case, I sold BTC for Euro and then got riped off by PayPal on converting to GBP.

paypal deals with chargebacks.. so forget having a truly trustless system that wont be manipulated by scammers in regards to swapping bitcoin for paypal privately 1 to 1

though some businesses do allow paypal conversion.. do have the same caution about this as you would any other exchange

Coinimal only offers selling Bitcoin for Paypal, you can't buy. Check their verification levels and you will see.

Only sure way to buy with PayPal is Virwox or wesellcrypto.com. I don't know the third way.

Or actually third way is if you trust someone like you would trust him with your most valuable possessions.

use coinimal to dump bitcoin for paypal, for the opposite, not much is secure you cna trusted escrow here or virwox

but fee there can kill you basically

The only way I've ever used PayPal to buy btc was to buy lindens and then transfer those to btc.  The whole process was slow and more expensive than just buying using other methods.  Any other way I wouldn't use pay pal,  I actually wouldn't recommend it at all. If you sell btc for PayPal then chances are your going to get scammed.

I stand corrected. Was sure it worked both ways.

Other way to buy BTC with PayPal is www.weselldoges.com, as the name suggests, they sell DOGE, but you can easily convert those to bitcoins (shapeshift is the quickest way). The limits with the basic, email verification are only $15/day, but can be increased.

Edit: just found their other website, where they sell multiple cryptos (incl. BTC): wesellcrypto.com

Anyone used Bitwa.la?

Yeah the fees is a killer. Paypal uses super fees compared to even creditcard or banks.
It's ridiculous they can go away with that.

Hope more paypal merchants will see that.

PayPal is the old players. while bitcoin is a new player with high prospects. I am pretty sure when both juxtaposed there will be strength so very great. someday will happen.

Yes, they have started with weselldoge and than later they have moved to selling Bitcoin and other cryptos via wesellcrypto.

These are the same people and they are originally from Doge community.

I find wesellcrypto much better and much cheaper than Virwox. But you do have to send an ID with the written statement for a verification.

What business can do however is allow users to simply buy paypal funds in exchange of btc but that's just it. Forget about buying bitcoins through paypal because of the charge backs, I don't understand why paypal has these option when they can just warn users to simply be cautious to scammers and they're off the hook.

never heard about it, but i found this
https://www.trustpilot.com/review/bitwa.la
the phone number linked with this website
http://about.all4btc.com/support/
https://www.trustpilot.com/review/all4btc.com

Is this Coinimal site secure for big transactions 1000+ euros? And can I withdraw the PayPal balance to my credit card once it's in my account? Thank you.

Yes it's very secure. The owner is TwinwinnerD, a Hero member here on the forum. He is an escrow as well I think here. So he is very reputable and you won't have any problems with the exchange or a chargeback.

If your PayPal account is in good standing, I don't see why would you have a problem withdrawing money to your bank account.

Go for it.

Here's their official thread on this forum:

https://bitcointalk.org/index.php?topic=878727.0

Looks pretty trusted, the question is whether they would allow +1000 single transaction, probably there are some daily limits.

@DimensionZ - why not doing SEPA transfer (straight to your bank account) rather than going through PayPal?

They would allow one big transaction. I see that limit is 500 euros, but all you need to do is email their support and this limit will be removed. One of my friends has done it this way.

They don't care if it's 500 or 2,000 euros as there is no risk whatsoever for them involved. You are sending them irreversible mean of payment and they want to transact as much money possible in order to collect fees.

It's not all about risk but also about regulations. I'm sure there are some daily limits in place, after which they would have to comply with AML/KYC regulations (full customer verifications etc).

Yes, I haven't thought about that. The best is to check that with their customer service. I am sure though that 1,000 euros won't be of any problem since my friend has confirmed me that he has done it successfully by just contacting customer support in order to raise a limit.

There are no "clever" ways to exchange Bitcoin and Paypal. You can head to the Currency Exchange section in the Marketplace if you want to find someone to exchange your Bitcoin and Paypal.
Don't forget to use escrow!

ahhh.... this question is repeated many times..
anyway.. i prefer btc always..
because Paypal can limit your transaction whereas in case of btc no limit.. unlimited money transfer..
and Paypal user can reverse their transaction by saying deal not done or product not received or someone can pay you buy a hacker or stolen Paypal..
so Paypal is too risky in my opinion..

Paypal is popiler now and it s common but when bitcoin will be more popiler and common it will be better than paypal

We have been warning against the dangers of using Paypal to buy Bitcoin since the very beginning when the first people saw business on this in eBay and they started selling BTC through there, but it seems people is still willing to get scammed.

Recently I heard many bad stories about people who did some business and paypal blocked their funds because of some dispute or complain.
Even some of my friends can't access to their paypal account anymore because of some strange security reasons and lost their funds in paypal account.
when you hear about it you really start to like bitcoin even more :)
We don't have such problems and can recommend bitcoin to everyone.

I still wonder why not a normal exchange

Wences Casares appointed to PayPal's Board of Directors!!
Some interesting news I would say.

AN JOSE, Calif.--(BUSINESS WIRE)--PayPal Holdings, Inc. (NASDAQ:PYPL) today announced it has appointed Wences Casares to its Board of Directors. A successful international fintech entrepreneur and recognized next-generation payment and crypto-currency thought leader, Casares will serve on PayPal’s Compensation Committee. His appointment was effective January 12, 2016.

Casares is the founder and CEO of Xapo, a company that provides the tools people need to purchase bitcoins and then manage them through an easy-to-use online wallet, spend them through the Xapo Debit Card or store them in Xapo’s secure Vault.  (http://AN JOSE, Calif.--(BUSINESS WIRE)--PayPal Holdings, Inc. (NASDAQ:PYPL) today announced it has appointed Wences Casares to its Board of Directors. A successful international fintech entrepreneur and recognized next-generation payment and crypto-currency thought leader, Casares will serve on PayPal’s Compensation Committee. His appointment was effective January 12, 2016.

Casares is the founder and CEO of Xapo, a company that provides the tools people need to purchase bitcoins and then manage them through an easy-to-use online wallet, spend them through the Xapo Debit Card or store them in Xapo’s secure Vault.)

http://www.businesswire.com/news/home/20160113005322/en/PayPal-Appoints-Wences-Casares-Board-Directors (http://www.businesswire.com/news/home/20160113005322/en/PayPal-Appoints-Wences-Casares-Board-Directors)



PayPal Just Appointed This Bitcoin Startup Entrepreneur to Its Board
http://fortune.com/2016/01/13/paypal-adds-wences-casares-to-board/ (http://fortune.com/2016/01/13/paypal-adds-wences-casares-to-board/)

These are amazing news and I've no doubts it will have a MAJOR impact more than anything else in the upcoming months. The goal it's clearly Bitcoin & Paypal integration since Wences Casares has been running Xapo with the intention to make it more user friendly and get mainstream adoption for some time now. If Paypal and Bitcoin could have a more fluid integration, buying and selling Bitcoin with the click of a button just imagine the potential.

Write PayPal and tell them you will use their service when it includes bitcoin. They are thinking about it now, but if we all wrote today this could be done by autumn 2016.

I thought doing a SEPA transfer would incur more taxes and would take longer than taking the Paypal route. Or am I very wrong on this? I looked into using Bitstamp but they require a lot of personal information I am not comfortable providing in the first place.

what would happen about chargeback? how they will handle them?

That is their problem lol. But I bet they are discussing your question is meetings. Perhaps they will act as an escrow for transactions?

We will need further development of second layer protocols to deal with such problems, right now there is not a clean, scalable solution yet, so I can't really blame them in being invested in Bitcoin, but nonetheless Elon Musk is an idiot when it comes to Bitcoin, he isn't giving it all the credit it deserves and he doesn't believe yet in it taking over the world. I guess he is up for a rough awakening.

Like others already mentioned there are a few ways to exchange btc for paypal.
There may be a btc <-> pp exchange in near future due to news of pp recruiting xapo ceo

I really hope so. Right now it is possible to exchange BTC for PP, but it is a poor choice. The profound risk of charge-backs and the lack of legal recourse through PayPal make it a scammers paradise. If PayPal allowed the option of keeping a balance in a wallet and facilitated transactions they could become the largest exchange site on Earth, IMO. I assume Wences Casares understands all this and that is why he has been asked to join the board. Let's have his back by telling PayPal that they are on the right track!

What does Paypal gain in this?  Remaining relevant in a future with only Bitcoin?

I'm not sure but Wences Casares is not just a guy with a vague interest in Bitcoin, they hired him only because of Xapo and his tremendous interest in BTC and I'm sure they have full integration in mind for the near future. Maybe they idea is to offer a fiat to fiat service with Bitcoin as bridge, it depends on the ambition and budget they have reserved for this project/process.

If it happens just think about how many scams related issues will vanish. Getting a hold of Bitcoin (and worst, selling it for fiat) is still a huge barrier except in certain countries that have more trusted services. If you could buy and sell Bitcoin directly in Paypal, you will never use another option.