I thought PayPal started its own exchange service wherein it accepts bitcoins like Payza and PM have. I've never even heard of coinminimal as the site looks dull and untrustworthy. More fear of chargebacks with this website.
Thank you for your feedback  I am the CEO of the website. Maybe I can help you trusting my company. Oh, good to see you here. The fact the website looks dull and untrustworthy is that it has only 3 payment processors Sepa, PayPal and BTC. It would be better to introduce processors like PM and OKPay which are non reversible methods. PayPal always has the chargeback issue because of which many exchange websites aren't trusted. We actually have 9 payment processors, 3 of which are for selling bitcoins. We are online for one year and managed to be the exclusive Neteller Bitcoin merchant for now. |
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I thought PayPal started its own exchange service wherein it accepts bitcoins like Payza and PM have. I've never even heard of coinminimal as the site looks dull and untrustworthy. More fear of chargebacks with this website.
Thank you for your feedback I am the CEO of the website. Maybe I can help you trusting my company. |
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Are New York residents excluded from the Coinimal Paypal funds transfer because of the Bit License? I assume Coinimal would be classified as a money transmitter by the definition given in the Bit License, although I'm not a lawyer. There are also a few other areas in the USA where it's tricky doing Bitcoin business, and I think even Coinbase refuses to open acounts for residents of those areas. Does Coinimal also exclude them?
Yes, we exclude NY residentes. |
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I can sell my coins for PayPal, but I cannot BUY coins with PayPal. Any chance this will change?
When somebody sell you coins, cannot you pay with Paypal? you can only sell at the moment and it's not directly related to someone else buying, i think it's an internal process i mean you don't sell directly to someone that has money on paypal... Yes I confirm. You are only trading with Coinimal directly. Never with any other person, as this is the only way we can guarantee that there will be no chargeback. |
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And is there any exchange that directly deals with PayPal? That would be very useful for me. for me and a lot of people...
Yes, www.coinimal.com. There you can sell your BTC for PayPal funds. do you have a plan to buy bitcoin with paypal also and not only selling? just asking Well, we would obviously love to offer this, but the chargeback issue makes this pretty much impossible. |
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And is there any exchange that directly deals with PayPal? That would be very useful for me. for me and a lot of people...
Yes, www.coinimal.com. There you can sell your BTC for PayPal funds. |
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Hello guys,
I am the CEO of the mentioned company.
Yes this is real, and everything is checked with PayPal. From our side, there is no fee at all, only the standard fee that PayPal charges to someone receiving a payment on PayPal.
If you have any questions, I am happy to answer it.
IDK if in Europe they charge differently, but here on Brazil they charge a heavy ~10% fee, which is ridicously high and made everybody on the country to avoid such PITA. IKR that outside here PayPal is famous and very used, but if you could get a "discount" on the fees I think it would be more atractive. Just my opinion. Currently Coinimal itself doesn't charge any fees and sends out at Kraken.com market rate. The receiving party incurrs a paypal fee, but as you said this is different for every country and currency, so you need to check on your local PayPal page. But if you don't make a micro order, the fee will be much less than 10%. |
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they have done it to encourage more people to upgrade their status to gold
because you need that level to use paypal and other available method of payment
i'm right now on the front page and i'm seeing that you need total verification for this to work...
No verification is needed for the customer. I have searched for you on this badlist http://www.badbitcoin.org/thebadlist/index.htm#C and you are not on there, so the first box is ticked. If I may ask, why did you not promote this service more widely from the start? This is the first time I hear about this service, where did we miss this? Will you expand your service to accept other fiat currencies too? or are you restricted to the Euro? The Bitcoin to PayPal service was launched yesterday, we had no time to do more promotion (besides the rank #1 reddit/r/bitcoin post). We will expand the service to USD and later to GBP and CHF, but those things take time as banks are involved. |
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Hi, I tried http://www.coinimal.com/ but when I tried to verify it, it says that my country is not supported yet. Can I still exchange my bitcoin to PayPal there? And the total limit 30,000 EUR, is it for lifetime? What if we need more? You dont need to verify your account to sell Bitcoin on Coinimal. If you have exhausted your limits, just contact support and they will work with you increasing your limits. |
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I guess it could work (merchant account, etc.) but I personally won't touch this with a ten-foot pole. And the fun part would be buying bitcoin with PayPal, not the other way around. Anyway, good luck to them.
Thank you! May I ask why you wouldn't touch a service like this? So that I can maybe remove any concerns for other customers and improve the service. |
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Isn't netteller allowing you to exclusively buy bitcoin from them? I heard this over the beginning of the summer. I opened an account with them but didn't go into it any further as I didn't have any funds to complete a transaction.
Neteller has no Bitcoin cashout option at all. We are the only merchant in the world that offers this service. Then what was it that Netteller allowed to do with bitcoin? Deposit only? What use is that if can not exchange then cashout? Just a place to hold bitcoin, that is what a wallet does.  Yes you can still sell your Bitcoin to them. then you can use the funds to deposit to webservices. Neteller is a eWallet that is used to deposit to certain stores and services. How long does it take for the sell process, if one wants to sell Bitcoins and receive Neteller? Is the process automated? And do traders have to provide their ID and stuff? I know a few people who might be interested in this as they gamble at some sites which doesn't accept Bitcoin yet but they do accept Neteller and other similar e-wallet services. And what these people do now is go to LBC and search for traders but if there is a better/easier way they might just opt for it. You can sell 1000€ each day withou verifying your account. Its partially automated and only needs one human click per transaction (for safety reasons, will be automated fully soon). Process takes on average 20 minutes including waitng for the BTC confs. Its an excellent rate too. PS: check out our tellafriend system to earn some bucks of those guys |
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Starting from today you can fund your PayPal account using Bitcoin with this service: https://www.coinimal.com It is fully automatic and gives you the current Kraken price. |
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hope no one gets swindled in the process
Why do you think this is even a chance? We have been selling and buying Bitcoin for one year and had thousands of customers in that time. Not a single person felt they were scammed. |
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The amount you offer seems kind of low. Still, I wish you luck. It is risky to run an exchange with Paypal.
The price you get is the current market price on Kraken.com. How can this be considered low? (Maybe I am missunderstanding your concern) As we don't sell Bitcoin for PayPal, there isn't much risk involved. |
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If you still have any questions/concerns, I am the CEO of the service in question. Happy to answer to you!
Regards
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Isn't netteller allowing you to exclusively buy bitcoin from them? I heard this over the beginning of the summer. I opened an account with them but didn't go into it any further as I didn't have any funds to complete a transaction.
Neteller has no Bitcoin cashout option at all. We are the only merchant in the world that offers this service. Then what was it that Netteller allowed to do with bitcoin? Deposit only? What use is that if can not exchange then cashout? Just a place to hold bitcoin, that is what a wallet does. Yes you can still sell your Bitcoin to them. then you can use the funds to deposit to webservices. Neteller is a eWallet that is used to deposit to certain stores and services. |
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Tread carefully with this one, there will no doubt be some charges involved.
I wouldn't even touch it if it would be for a free try out. But you're right people who wanna give it a try should read up on the small print. What exactly are you concerned with? I am happy to help solve those concerns. |
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I don't get this. How did they achieve this? Is this official support of PayPal to bitcoin, or is it done through some 3rd party method? Why isn't PayPal accepting Bitcoin directly already? I want to be able to buy anything on ebay with Bitcoin, im tired of the PayPal bullshit. You sell the Bitcoin on Coinimal and get a Euro transfer on PayPal. This is no direct implementation of Bitcoin in PayPal. is this an early April fools joke? i'm not buying this story, there must be something wrong there, paypal and bitcoin can't work together
No april fools joke, its live and can be used already. PayPal hasn't integrated Bitcoin directly, if you thought that. I smell a scam
Why do you say this? We are a fully registered GmbH in Vienna, Austra and are fully compliant with all regulations. Also we are already in business for a year with thousands of happy customers! |
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Hello guys,
I am the CEO of the mentioned company.
Yes this is real, and everything is checked with PayPal. From our side, there is no fee at all, only the standard fee that PayPal charges to someone receiving a payment on PayPal.
If you have any questions, I am happy to answer it.
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Isn't netteller allowing you to exclusively buy bitcoin from them? I heard this over the beginning of the summer. I opened an account with them but didn't go into it any further as I didn't have any funds to complete a transaction.
Neteller has no Bitcoin cashout option at all. We are the only merchant in the world that offers this service. |
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