Bitcoin Forum

If anyone ask, Is it possible for us to buy bitcoin using our paypal account? (http://bitforum.info/t/could-someone-buy-bitcoin-through-paypal/356?u=thebitboss)

What will be your answer?

Is it advisable for newbies to buy through paypal?

If it is possible to buy bitcoin with PayPal? Absolutely!

Is it advisable? No. Not really. Due to chargeback function of PayPal and lack of this functionality in case of Bitcoin it is difficult.

Of course if you are legit, and your partner is honest there is no problem. But you need to secure transaction with collateral or escrows.

Have you tried buying bitcoin through paypal?

Any knowledge about it?

Share it please. :)

Newbies like me tend to turn to paypal so that we could buy bitcoin.

Why not go to exchange to buy it? It is more secure and easy. You just register an account there and deposit some cash!

You can use the good ol Virwox method:
Buy SLL (second life lindell dollars) with paypal, -> buy BTC, withdraw said BTC to your wallet.

Never accept paypal for bitcoin.

Not from your parents, wife, dog or imaginary friend.

QFT. Ethically speaking you shouldn't accept any fiat for bitcoin. Why further legitimize bloodmoney?

Well the OP is buying bitcoin for paypal.  There is no real risk to him.

Virwox and the normal Paypal are never worth it . You will be paying a hefty fees buying with paypal .

Whether newbie or not - it's never advisable to buy anything through paypal if there are alternatives and it's even less advisable to buy Bitcoin through paypal.

Either use the ordinary exchanges or buy with cash in person. This way you will only risk the cash at hand and will not provoke arbitrary seizure of all your funds in your paypal account.

Paypal isn't a method of payment secure, there are a lot of chargeback every day. I don't suggest PP for buy bitcoin , better cash.

If you are certain you want to go with paypal, then would second localbitcoin as well, as long as you use a trusted seller you should be fine. But expect to pay a high fees already

It's not wise to do it anyway. You can easy stay without Bitcoins but also without funds from your PayPal, as some sellers scamming people.
Maybe where it is trusted to do, on some already known trading spot. I did not tested it yet and to be honest I would not give a shot.

You know how working LocalBitcoins?

Its totally possible, the problem is, How do you plan to trade it ?
Personally, It doesnt matter for me as long I take screenshots/proofs during the operation and if they chargeback, I simply place all the proofs and let paypal judge. (They wont give it back to him if your proofs are valid)

Yeah exchange should be the best way to buy a BTC most of them charge around 1% which is acceptable amount.. n is safe.. U can have a lots of options of ppl to buy BTC from.

I don't think paypal settles disputes for digital goods. And they have always been anti-bitcoin, so I am guessing it would be worse with it.

Forget about paypal, they hate bitcoin since it will damaging their business if bitcoin grow.
And with dispute and chargeback everyday, it's not good for bitcoin because there is no reversal transaction in bitcoin

Here you can buy : https://www.virwox.com/index.php    ;)

You should be fine as long as you use a trusted seller on localbitcoins. Well if you don't mind overpaying by 10%  :-\

Well personally, I sell bitcoins +10% to paypal so actually, My money increases, However.
this deals are made with people not exchanges, so the possibility of chargeback is higher.

You have problem with paypal after you make transactions involving bitcoin?

Is certainly not a good option, but it is possible.

Have used when I first got started and wouldn't recommend using given the fact of their prices are way over rated and very high fees for 1 buying their own currency then 2 converting into BTC and then another fee for cashing BTC out.

localbitcoins is a lot better to use and to be honest using payal to buy is not  good thing due to the easily getting charge back.

a big no for that.

For newbies, one should buy in the easiest way.