Bitcoin Forum

Hello guys, need a little words of advice and help

Is PayPal good for transactions and any other activities,...for storing money.... buying and selling of goods or crypto-currencies ???

good if you are doing everything legally.
Formal trading crypto-currencies again pp rules, so you will not get any protection from their side.

Also take care of disputes, if you're doing right people can't even dispute. Read more info before starting to trade. Don't take more than 150$ daily from a person at begging.

It is not good to sell bitcoin with. It also isn't useful for buying bitcoin since you are an untrusted member. I'll explain why.

It is extremely easy to chargeback with paypal, even if you sent as family and friends, since you can act as if your account was hacked.

Which is why most sellers ask for fees up to 25% if you try to buy using paypal, and if you try to sell bitcoin using paypal, you are having extremely high risks of being scammed.

(Unless you deal with highly trusted members, in which case it would be very useful to use paypal).

PayPal is never good for exchange , PayPal is only good if you sell physical item only and have valid tracking info or if you have legitimate web shop or business . Otherwise if you think to use PayPal for currency exchange or Virtual items then forget about it's good site and expect any day permanent ban :)

What about using it to buy crypto currency, asin using PayPal to buy crypto currency

Okay, what about taking less than a $100 and using it for crypto currency purchase...

If you're willing to pay insane amounts of fees, and verify yourself, i think that there are some people on Localbitcoins which are willing to trade with you.

Is it smart? No.
Would it work? Yes.

If it's your only possibility, then go for it, if not, i would highly recommend avoiding buying crypto with paypal.

You're right, because of the chargeback risk, but it's just fine if you're the buyer.  I've bought bitcoin from members on this forum and the deals have worked out perfectly--because my intention isn't to scam.

PayPal as a store of value?  Not anymore.   About 11 years ago they used to put your funds in a money market thing that earned about 4% interest.  That was back when interest rates weren't near zero.   I'd like to see that happen again.

It is not good to use unless you trust the person who is sending you the paypal funds. And I mean fully trust them not to file a dispute in 180 days from the date the amount was sent to your account.

Anyone here can do this to you then you will be out of your bitcoin and out of your paypal for what you paid them for.

I appreciate that very much.

But is it okay if I use it maybe only to buy other goods other than bitcoin, I.e things like clothes and shoes, or maybe tweeter followers???

Based on my experienced them, yes they are good. I have been using their services since my first online job back in my college days and still in some of the merchants that accepts Paypal.

If used for dealing with the crypto currency, Im not recommending it. Since we care for the fees, that is definitely must out of the option.If you are planning to buy and sell bitcoin with the use of your Paypal balance, I suggest to deal with the trusted user here in the community. For more info, you can open up a thread at this section.


Yes depends on terms.

Yes, PayPal is very good for buying products online reason is they are protecting buyers from scammers. But it looks somehow they are protecting you from people who are trying scam you for buying these crypto-currencies. So I suggest don't take a risk and lose your money because of these days quite hard to believe who is good or not. Also don't store more money in Paypal account better to withdraw to your bank account, if you have more funds in Paypal. I'm using them for more than ten years for purchasing online goods, and so far no problem and they are best for online purchases.

Well in my own opinion nothing is problem about storing money in paypal unless if you storing money with illegal activity.. but if you have in legal way it is good also in buying some things online because the good part in paypal in my own is the reverse payment once you are not receive a product or receive a wrong service you can reverse the payment sooner..
But sometimes the transaction fee is high if you deal to someone far to you this is only the problem i think unlike bitcoin no reverse payment and not paying too much the same as paypal..

Thank you all for your advice and help

Paypal have buyer protection and seller protection too
sometimes buyer can do illegal things buy disputed transaction..
almost 80%, paypal protect buyer than seller
So. it's not good always for seller if their product is not eligible for seller protection

I also wouldnt be using paypal for any kind of crypto trade.
You risk having your funds seized, your account blocked, or the buyer can file a dispute.

Paypal have always been against bitcoin and crypto trading, so use at your own risk.

Having said that, I agree fully with the previous comments that it's doable IF you fully trust the other party.

stay away from dealing with anything digital with paypal

Alright, thank you, will never try to use it for any crypto transactions at all.

paypal is good but only if your account is verified with docs ..otherwise you will have a lot of problems