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Title: Quick Question about selling Bitcoin for Paypal Post by: kg2002 on July 09, 2017, 04:34:09 AM So i've been reading posts about PayPal limiting / banning accounts they suspect of having transactions involving bitcoin. (some how it's against their T.O.S) but some comments are also implying that the tide is turning recently and PayPal is becoming open to working with bitcoin.
Can someone please give me an update of where things stand regarding legality of liquidating Bitcoins for cash through PayPal? I have a few thousands of dollars that I would like to get converted. Once the money is on paypal, i will withdraw to my bank account. To be clear my concern is not with the trustfulness of exchange services or potential charge backs but with PayPal's own stance on this. Thanks Title: Re: Quick Question about selling Bitcoin for Paypal Post by: HabBear on July 09, 2017, 04:58:53 AM What would you use paypal for in the purchase of bitcoin, particularly if you're not concerned about chargebacks? They're just going to charge you a fee and you've already stated you're not worried about the risk...so what do they offer?
I did a google search and can't find any opinion paypal has on Bitcoin...so maybe they don't care? They process payments. Ebay, however may have a specific stance on it. I've bought bitcoin (casascius coins) from ebay but paid with a credit card...lower fees, no issues. Here's a very recent article on ways to buy bitcoin via paypal: https://coinsutra.com/buy-bitcoins-using-paypal-working-options/ (https://coinsutra.com/buy-bitcoins-using-paypal-working-options/) Hope this helps! Title: Re: Quick Question about selling Bitcoin for Paypal Post by: kg2002 on July 09, 2017, 05:01:18 AM What would you use paypal for in the purchase of bitcoin, particularly if you're not concerned about chargebacks? They're just going to charge you a fee and you've already stated you're not worried about the risk...so what do they offer? I did a google search and can't find any opinion paypal has on Bitcoin...so maybe they don't care? They process payments. Ebay, however may have a specific stance on it. I've bought bitcoin (casascius coins) from ebay but paid with a credit card...lower fees, no issues. Here's a very recent article on ways to buy bitcoin via paypal: https://coinsutra.com/buy-bitcoins-using-paypal-working-options/ (https://coinsutra.com/buy-bitcoins-using-paypal-working-options/) Hope this helps! Not sure if I made myself clear enough. I'm the one selling my bitcoins for paypal. Title: Re: Quick Question about selling Bitcoin for Paypal Post by: HabBear on July 09, 2017, 05:19:28 AM Not sure if I made myself clear enough. I'm the one selling my bitcoins for paypal. Ok, so the question about paypal remains..what's the benefit for you? They're just a payment processing company. Or are you talking about eBay? I also just found this thread on using Paypal, https://bitcointalk.org/index.php?topic=164254.0 (https://bitcointalk.org/index.php?topic=164254.0), and it's mostly reasons to be cautious. The thread is old though. Paypal may still prohibit the exchange of currencies. Title: Re: Quick Question about selling Bitcoin for Paypal Post by: kg2002 on July 09, 2017, 05:41:28 AM Not sure if I made myself clear enough. I'm the one selling my bitcoins for paypal. Ok, so the question about paypal remains..what's the benefit for you? They're just a payment processing company. Or are you talking about eBay? I also just found this thread on using Paypal, https://bitcointalk.org/index.php?topic=164254.0 (https://bitcointalk.org/index.php?topic=164254.0), and it's mostly reasons to be cautious. The thread is old though. Paypal may still prohibit the exchange of currencies. I don't understand your question. I am earning bitcoins online and the benefit would be to liquidate the bitcoins for real cash then deposit the cash into my bank account which I have connected to my pay pal account. Bitcoin is just crypto, its not real money. |