Your reasons for not accepting paypal for btc exchange

[SaltySpitoon]

Paypal just sucks in general, I definitely wouldn't trust them to be of any help with a crypto transaction. I sold a tangible thing on Ebay, have tracking info, a written statement from Ebay, and the person's Ebay feedback for me stated how happy they were with my packaging. Just found out they filed a chargeback, though I didn't recieve a notification of it, and paypal just processed it. So I've now been on the phone for quite a while trying to get my money back.

If thats what you can expect if you have physical evidence + the support of Ebay backing you up, imagine how unpleasant trying to explain a Bitcoin transaction would be. (looks at phone been on hold for 1 hour and 6 minutes now)

*edit* off the phone, expecting a refund in the next 75 days. Hopefully they refund the additional $20 resolution charge.


TLDR: Sold something for $75 on Ebay, took $95 from my account to hold without notifying me, have all of the evidence in the world. If I win, I get my money back in the next 75 days. We will see if I get $75 back, or the entire $95. *cough* and that is with a verified Business account.

[wiserq]

It would be kind of mad to accept Paypal on a cryptocurrency exchange. We are also running an exchange site (right now for DE/AT/CH only - more countries coming soon) and it's already risky to accept even a small SEPA transfer (stolen bank accounts etc.)

And with Paypal there are many reasons against accepting this method:

1. They do not allow Bitcointrading and will close your account if they get known of it
2. Chargebacks: Paypal transfers can be reversed very easily. And if the buyer says, he didn't received his Bitcoins, PP even will close your account.
3. Fraud: Paypal is often used by criminals (hacked accounts / credit cards, PP has the most phishing sites ever)
4. Unserious: In some kind PP is not really serious. As often complaints on paypalsucks.com for example tell, they will freeze your account if you've got high amounts of money in there, even if you are verified. That's not a company to do financial business with.