Would You Drop Your Current Bitcoin Exchange For One That Allows Paypal Payments

[TRLBitTrade]

I am trying to develop a new website which allows you to buy, sell, trade, and even invest Bitcoin almost instantly, and I need your opinon! This website is going to be different in two major ways. The first way, is that the website is going to accept Bitcoin purchases almost instantly through the methods of: Paypal and Paypal My Cash as the major payment source. Secondly, we are going to compare markup % rates from all other exchanges that allow instant BTC purchases, and offer as low as a markup % we can offer. My question to you is, would you even consider purchasing Bitcoin through paypal, and if so, do you think this website would be more appealing or separated enough from other websites.

I am accepting paypal as a major funding source due to a safer sending method to avoid chargebacks. Once you make a purchase, part of the markup % on the exchange is actually going directly towards shipping which will contain the entire receipt of purchase, blockchain transaction, and confirmation that it was directed to your wallet of choice. You will need a verified paypal address in order to make purchase, and will have to agree to the terms and conditions. (Terms and Conditions will basically state you agree to pay for what is listed, agree to what is going to be shipped both physically and digitally, and agree to no reversals or cancelation unless stated otherwise between buyer and seller)

There will also be other things included like investment opportunities, discounts for long time users, and a sell platform which will actually pay you decently if you sell through the site. So long story short, is there a big enough market for anyone to want to buy Bitcoin with paypal enough to use this service, rather than paying a higher markup % at another service? Are there any ideas or models you would want included as a buyer?

[Amph]

no because of chargeback, i'm with bitcoin and i like irreversible transactions, but it would be good to have something like circle but faster maybe and anon too? when you can use your credit/debit to purchase btc

[randy8777]

i will do everything to avoid paypal. it almost looks like it is created to make scamming easier. all this for the protection of the buyer. what about the seller? sellers are not important clearly. i am glad i can buy bitcoins instantly via bitonic in the netherlands.

[TRLBitTrade]

Generally, the seller of Bitcoin takes 100% of the risk when taking money for Paypal. If you are a buyer, you have the control to ideally chargeback any transaction you want to. So in theory, the website which I mentioned is ideally the platform that takes all the risk. However, if you do not live in the United States, then this probably has no use for you because there are probably methods which allow you to buy bitcoin a lot easier than here in the United States. The website i am looking to develop accepts all major credit and debit cards, but that is the standard of almost any site which is why I didn't bother to mention it. The biggest difference would be the low % fees for using those methods. Someone who replied posted about Circle, and I love Circle but also think they can improve in some areas and I would try to incorporate those ideas in this development. One of them being raised limits for instant buying of Bitcoin. I'm not going to lie its really hard to develop new and improved ideas because of just how many exchanges there are these days. Any ideas would be great and I surely will take them into consideration. 

[Relictus]

Having a Circle-esque service with Paypal as a deposit option would be really nice.
What range of deposit fees are you planning to install? So far I've seen as low as 15% per deposit. And that does bite. 
Will you be the only one providing Bitcoins for a fixed rate or it'll be an exchange with a ledger? Judging by the amount of regularly occurring topics 'where to buy bitcoin with paypal/cc', if your service provides competitive fees and performance, I think, it should be successful. 

P.S. How are you going to combat carded PPMyCash cards, or the chargebacks from 'hacked' accounts?

[xetsr]

I am accepting paypal as a major funding source due to a safer sending method to avoid chargebacks. Once you make a purchase, part of the markup % on the exchange is actually going directly towards shipping which will contain the entire receipt of purchase, blockchain transaction, and confirmation that it was directed to your wallet of choice. You will need a verified paypal address in order to make purchase, and will have to agree to the terms and conditions. (Terms and Conditions will basically state you agree to pay for what is listed, agree to what is going to be shipped both physically and digitally, and agree to no reversals or cancelation unless stated otherwise between buyer and seller)

Others have tried that and either failed, gave up due to lack of interest or just weren't able to profit enough.

[Cinnob0n]

Nope, I wouldn't. The risk involved with chargeback is too much when trading cryptocurrencies.

[erikalui]

With digital goods, PayPal is too risky to use as chargebacks cannot be avoided even with a solid proof. Bitcoins, gift cards or any other digital product cannot come with a purchase receipt and hence there is no way to confirm that the product is shipped (via email or pms). Till PayPal does not change its terms and conditions and removes the chargeback option, it's not preferable to exchange BTC for PP.

[nwfella]

Not in a million years for one very simple reason.  Any bitcoin/altcoin exchange that decides to start accepting paypal as an option is 98.95% likely to fail within the first 30-days from charge back scams.

[BitcoinAddicts]

No, trust is more important, BTC-e is already doing paypal withdrawals their  fees is high for paypal but in case we need urgent paypal we can get payment there too with btc-e

[ajareselde]

Not in a million years for one very simple reason.  Any bitcoin/altcoin exchange that decides to start accepting paypal as an option is 98.95% likely to fail within the first 30-days from charge back scams.

So im guessing that btc-e is in those 1.05 %, as they are offering PP withdrawals for 500 USD and obove for 7% fee. (I believe the fee may be high to even out rare events of chargebacks)

@op I would be interested in exchange with skrill withdraw option, altho its obvious that not even all the payment options wont bring you clients in short time, since most
of the users are loyal to their own exchanges, and it takes alot to move person from one to another.

cheers

[harlenadler]

I would actually be interested in buying bitcoins from your service for PayPal/Skrill - it would be more convenient for me. Of course, you always have the risk of a chargeback, but they've ruined the ease of using PayPal for the rest of us. If you're taking precautionary measures, then I'm sure the risk will be mitigated, even a little bit.

[TRLBitTrade]

At this current moment, my endeavor has been put on hold mainly because I am trying to work something out with paypal in regards to these types of transactions. The seller is honestly the one that will always be at risk in these situations because there is simply no stopping a reversal with digital goods. The only way to combat this, is to ship out a paper wallet with tracking and insurance, or ship out simply the receipt of purchase as a physical good. This would then require atleast 1 day users have to wait to receive it, and users can still claim it as not described or not working which poses another threat. Ideally, if there is a company that can truly offer a Bitcoin Paypal service, they can greatly succeed. I can honestly say that Paypal has worked with me and does allow me to accept payment for bitcoin, but at this moment they still do not have policies to protect my account chargebacks. Payza is another method I was thinking of implementing as a sole payment, but for some users its not a simple and easy way for signup, and Payza already has a method of purchasing bitcoin through them.

[Relictus]

What about the option of btc 'vouchers' or 'gift cards'? Regular vendors must have circumvented the chargeback problem.

You could also try to handle PP deposits on manual review [as does the Isyet from npay(.)pro].