Bitcoin Forum

I've heard Pay Pal not liking Bitcoins and freeze peoples accounts for dealing with them. Now what if I buy and sell them and accept money using Pay Pal? How do they know I'm buying and selling them, couldn't you just label the transaction as a service for like web design etc?  You don't ever have to mention Bitcoins in the transaction details.

What do you do if someone does a chargeback?  You'd have nothing to show for it and they'd win.

Actually they can't do a charge back on virtual items just on tangible items

People can definitely still charge back virtual items, otherwise selling BTC for PayPal wouldn't be an issue.

Charge backs are very common with BTC and i still have to hear about a case where PP ruled in favor of the seller.

One possibility would be to send registered paper wallets by mail, but i still believe PP would fuck you over.

You could buy my exchange script if you're interested in selling BTC for Paypal... :-)

Sending a redeemable code (solid paper) via traceable shipping on eBay is the best way to sell over PayPal so far.
If you can find buyer domestically you can profit up to 200% from bitcoins.
If buyer tries to refund you'll just need to upload the track paper over eBay as a proof so you're safe.

don't do it, paypal does not like btc so your transaction can't mention it, only do it with people you can trust, and that is kinda hard

I have heard nothing but horror stories about trying to buy/sell BTC on paypal.  I would advise you to stay far far from it.  Though this is quite a clever solution to the problem.

There's a handful of reputable people I would do bitcoin <--> Paypal transactions with, but by and large, not recommended at all.

I have heard the only way to try and do this is to sell a physical item, send it with tracking, and for the item to be received in the condition stated, with the BTC (or in this case LTC) as a free bonus.

Anything other than this is considered very risky.

Buying/selling Bitcoin for paypal is a BIG no no. I believe chargebacks can be valid up to 180 days.

Yes they can.  They can claim their account was hacked/tampered with, and would get a full refund.  Trust me... I know. :/


Correct.  And disputes supposedly are supposed to be up to 45 Business days.
Paypal is usually in favour of the buyer anyways :/

You mean when someone is buying (or selling) Bitcoin they would sell the Bitcoin for Paypal but also send a physical item to represent what it was payed for? But, then that would be unpractical because shipping costs & the item costs would have to be counted for.

Do not do this, it is higly insecure and you will lose your money

Sorry to hear that. I've never dealt with paypal and Bitcoin. It's a huge risk for even trusted buyers.

Listen to this. It's safer to use a exchange or bank transfer is also popular among the people dealing at the exchange sub-forum.

I have had charge backs ruled in my favor. It depends on the method of payment.

I believe paypal protects buyers more than sellers, unless the sellers appeal and provide certain information about the sale.

Look at my trust score every transaction as been for paypal ( couple money pak). It can be done but is not easy and does involve risk.

Fair enough. I'm not smart enough and too lazy to even attempt this.

Your trust score is 0 for me.

My score  as I see it    25: -0 / +26(26)

Your score as I see it   Trust: -1: -1 / +1(1)
Warning: Trade with extreme caution!

Maybe you are trusting the wrong people?


My wallet--


Total Transactions   558   

Total Received   442.63314479 BTC   

Total Sent           442.4634786 BTC
Final Balance   0.16966619 BTC


Your wallet--                                                             

No. Transactions   14   

Total Received   21.08394743 BTC   

Final Balance   7.3899926 BTC

By the way you wanna sell any of that 7 btc for my pp usd?   ;D ;D ;D

You send first!   ;D ;D ;D

You have positive feedback. But, you also have a few negatives ones. Most feedback is left by untrusted sources & are not very active. However, you have dealt with a few trusted members.



By trusted I mean in the default trust list & people I have dealt with and many others have.

Been trading for over a year. Sold coins on ebay. I have thousands of online transactions. Been selling on ebay for 6 or 7 years with 100 percent positive feedback. I have sold over 65,000 usd worth of coin so far this year.

I dont have any negatives to speak of. 1 from a lying troll kelticfox, and one from sidesky this is what he posted when we traded. I think he just screwed up but seems to have abandoned his account and one from paul e. who is a scammer that provided a bad MP to a seller on my page bitcoin friends he crys scam but got his coin and his part of his money back  

sidelsky18
Member
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Activity: 56



i love alt coins


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Trust: -4: -1 / +0(0)
Warning: Trade with extreme caution!
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Re: WTS BTC/LTC for paypal/money pak /cash in mail/postal money order/DEBIT CARD!
May 27, 2013, 05:59:27 PM
Reply with quote  #34
Quote from: sublime5447 on May 27, 2013, 05:42:11 PM
Done send the code in a pm and I will send the payment. Thanks

Smooth transaction, done in 10 minutes. I'm always hesitant to send first but this person can be trusted.
 

"By trusted I mean in the default trust list & people I have dealt with and many others have."


I dont trust people because theymos says I should trust them

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

If you download the new Paypal App for Android, your Paypal balance can be viewed by pressing the "Wallet" Tab. So, maybe something is looming in the future with Bitcoin + Paypal?

I don't think that indicates anything. A lot of banks actually call the place were your money is displayed "Wallet".

FUD.. I have told them several times that i am selling bitcoins they dont give a shit. They have even helped me deal with charge backs and told me methods to help avoid them.

All i know is that according to their TOS, it's against the rules and they can freeze accounts for buying/selling/trading e-Currencies.
I wish you luck in using paypal to buy/sell/trade, but as for me, I wont use my main paypal for that. I would have to make a second paypal just for that just in case they froze it.

How are you a exception? Their TOS actually state that it's not allowed and they are willing to terminate/freeze accounts. Why would they aid you and not anyone else?

Link to that I have heard it since I started but have never been able to find where PP says I cant sell coins?

preventing a racial discrimination lawsuit?

What people are talking about when they say this is that is in violation to act as a money transmitter. I am not a money transmitter. I am a retail coin shop!

Are coin sellers on ebay money transmitters? Well than neither am I.

They wont freeze my account i have cabbage loans tied to my account and cover my loses. They dont care because when I get charge backs I cover my own loses

Are you selling Physical coins with Bitcoin loaded on them too? It's kind of a grey area. I don't think they cover you for virtual items, because you can't prove that you actually sent it to the buyer. But, I don't believe they disallow it. (However, I don't use paypal for this purpose so not 100% certain).

No I sell digital coins. It is not against their policy to sell digital items they just dont insure the transactions.

Money transmitters never take ownership. They dont sell thieir own funds. I do.

That's actually a good point. THEY don't insure you. But, I suppose it's allowed. Sorry, I was getting confused earlier.

? are you calling me a racial epitaph?

I've never bought coins with Paypal, but have had an account frozen a few years back for no good reason - living outside of the USA, they somehow thought my account was "suspicious" and froze it.  Lost around $140.  Paypal is a necessary evil for a lot of online transactions right now.... but I wouldn't tempt them by doing something in a gray area, as their policies are fairly arbitrary, and since they're not a bank, there's not a lot you can do if they decide they want to just take... I mean freeze... your account.

They normally ask for Identification when freezing a account and require evidence to who you say you are. They normally sort it within 48 hours. You should of contacted them and sorted it. I'm not sure if you can still contact them and get it back.

They normally freeze accounts for suspicious activities or for people reporting you. (Happens often with ebay if you search the internet).

Nope, they will send you your balance if you send them your IDs. But the question is why your account was "suspicious" ...

I had those kinda issues years ago when my sales volume started to go up. Gave them what they  wanted and have never had an issue since.

They have done some cool things in the last few years. Like letting me send money for free and have made some favorable comments in reference to bitcoin.

I dont love them but they are alright.

Could be minor like logging in from different country ips etc. I know legit owned accounts have been frozen for a short period of time until the documents were provided.