Bitcoin Forum

Right I do understand that you cannot sell bitcoins via paypal, as its against the paypal policy and that people can rip you off and do a charge back.

But what about buying bit coins for paypal?

I was thinking on creating an automated system where people can deposit coins into my account which would send them back paypal currency. It would be a one way transaction. Since i would be the one to buy the currency from them, it would be much safer right?

Stop creating multiple threads.

But yes, it would be safer for them - but your account will get frozen very quickly.

Sorry, but when your limited to a single board its becomes very anoying, i only came on here to contact a member, but i have to stay logged in for 4 hours before i get white listed so i might as well post crap.

Why would it get frozen? I would be paying people with my account, not the other way around. All paypal would see is that im sending money to people. i dont see how this is agasint their policy

You should've just created 1 thread with all your questions.

Paypal have been freezing everyones account even if they smell bitcoin near them.

my questions do not come all at once.


Would freezing accounts mean freezing the money?

yes.

There are atleast two way to convert paypal to bitcoins and that is through:

bitmarketEUR; they do deal in USD but you have to be "accepted" by the admins there so you need reputation on this forum or somewhere else.

virwox; You can buy linden dollars for USD or EUR which you can use to buy bitcoins. This is an easy way but also a quite expensive way. I found that the markup for me was about $1 / BTC. The reason is that you can only deal in whole coins and no fractions so i have a lot of small amounts hanging around their exchange.

Since im not affiliated with any of them and like the service at Bitcoin Charts (http://bitcoincharts.com/markets/) you can find them there.

Best
/GoK

Fixed that link for you.

ah i see.

What about other services like moneybookers / neteller. Which ever would be instant enough for people to want to use it.

I only plan to make an automated service that would buy people BTC. That way there is no risk for me except if the market crashed.

Obviously i would charge some sort of fee to make it worth my while where It would then automatically sell the BTC at the highest market price..

I guess paypal is out of the window but

Go around and look at how MtGox and Tradehill work

I can see how they work, but they dont provide an instant payment method for withdrawing funds.

Moneybookers and neteller are not really instant,
they are usually fast when it comes to depositing money but when using them with other sites it usually takes up to a bussiness day to get money payed to your neteller/MB account (this might not be neteller or MB's fault though).

On a side note i actually used neteller together with virwox when i tried it.
Worked fine but was a bit on the expensive side.

So please create an easy way to buy BTC with paypay neteller or MB.


Best
/GoK

https://cms.paypal.com/uk/cgi-bin/?cmd=_render-content&content_ID=ua/AcceptableUse_full

i can see that, but still the website service will not be publicly linked with a paypal page,

the only way paypal would know which account would be to buy bitcoins, then sell them with my system, which i dout they would go out of their way to do.

Even if it did get frozen, could easily make another account.