Bitcoin Forum

Economy => Trading Discussion => Topic started by: frostsoar1 on May 06, 2011, 04:46:31 PM



Title: Bitcoins trading
Post by: frostsoar1 on May 06, 2011, 04:46:31 PM
I have alittle problem.
Now when I've earned 5BTC I want to trade them in for USD on paypal.
But the site thats on "exchange" at mybitcoin.com dont have open registration and I'm confused, can anyone tell me if theres a diffrent way to sell my BTC's for 3$+ ea?


Title: Re: Bitcoins trading
Post by: Stephen Gornick on May 06, 2011, 05:40:00 PM
CoinCard would have been perfect for you, but unfortunately PayPal will take action (i.e., freeze the account) for those using PayPal to trade bitcoins.

There are a number of additional methods to sell your bitcoins:
 - http://en.bitcoin.it/wiki/Selling_bitcoins

If you still wish to use PayPal and are trading a smaller amount, there are many who would gladly buy your bitcoins at market rates and send you PayPal for payment.  The problem is that accepting PayPal exposes you to risks (e..g, the buyer could later chargeback).  The #Bitcoin-otc marketplace attempts to lessen those risks with a Web of Trust rating system.
   - http://bitcoin-otc.com/vieworderbook.php?type=BUY&notes=paypal
   - http://www.bitcoin-otc.com/trust.php

   Read the follow Secure Trading recommendations:
 - http://en.bitcoin.it/wiki/Secure_Trading
 - http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Risk_of_fraud
   (e.g. seek a trusted party, trade small amounts at a time, etc.)