Beware of buying crpto with PayPal - Not always reversible

[EasyD]

PayPal does not offer buyer protection for intangible items. Meaning, items that you can not physically touch, like Bitcoin. So if you send someone money via PayPal and they do not give you the crypto, PayPal will not reverse the transaction for non-receipt of the crypto.


Everyone mentions that PayPal is reversible, but that is not always true. Please do not assume you can recover funds sent via PayPal in case you get scammed.


(Side note: Accepting PayPal is extremely risky. Scammers using PayPal know how to get around the intangible item rule. It is best to not accept PayPal unless you can afford to lose the money you receive.)

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[retes1234]

I know that paypal can still be reversed even in buying crypto, you only need to email them and say your account got hacked

[Quickseller]

If order to reverse a PayPal transaction, you will need to either lie about your account getting hacked or lie about you buying a physical item. Alternatively you can simply use stolen funds to buy bitcoin and by default, the funds will get reversed.

The problem is that when you are dealing with scammers, they will have no problem with lying about the terms of the transaction. On the other hand you are not going to be able to get the payment reversed if you are honest.

tl;dr - don't use paypal to trade bitcoin

[Amph]

paypal isn't needed, there numerous other way to exchange your bitcoin that are fast enough, it's behind me why people are still using paypal for bitcoin(i'm not talking about scammers), no sense really, paypal is good for ebey and some unknown site, that's it

[EasyD]

paypal isn't needed, there numerous other way to exchange your bitcoin that are fast enough, it's behind me why people are still using paypal for bitcoin(i'm not talking about scammers), no sense really, paypal is good for ebey and some unknown site, that's it

Thanks for your input. You're right, PayPal isn't needed for you. Some other users may be in a different boat.

[Amph]

paypal isn't needed, there numerous other way to exchange your bitcoin that are fast enough, it's behind me why people are still using paypal for bitcoin(i'm not talking about scammers), no sense really, paypal is good for ebey and some unknown site, that's it

Thanks for your input. You're right, PayPal isn't needed for you. Some other users may be in a different boat.

i mean why you want to use paypal when you can use a debit card? today debit card have plenty of security(visa password for online shop for example) and 2fa and there is no chargeback(unless the bank account is stolen in someway)

[EasyD]

paypal isn't needed, there numerous other way to exchange your bitcoin that are fast enough, it's behind me why people are still using paypal for bitcoin(i'm not talking about scammers), no sense really, paypal is good for ebey and some unknown site, that's it

Thanks for your input. You're right, PayPal isn't needed for you. Some other users may be in a different boat.

i mean why you want to use paypal when you can use a debit card? today debit card have plenty of security(visa password for online shop for example) and 2fa and there is no chargeback(unless the bank account is stolen in someway)

Theres all kinds of reasons someone may want to use PayPal, a few examples I can think of are:

Extracting $ instantly using PayPal Debit Card
Acceptance with most major online retailers
Send money to family/friends that use PayPal
etc

[CoinTop]

People normally scam by telling Paypal they got hacked and someone else spent there money and normally it is reversed.

[Amph]

paypal isn't needed, there numerous other way to exchange your bitcoin that are fast enough, it's behind me why people are still using paypal for bitcoin(i'm not talking about scammers), no sense really, paypal is good for ebey and some unknown site, that's it

Thanks for your input. You're right, PayPal isn't needed for you. Some other users may be in a different boat.

i mean why you want to use paypal when you can use a debit card? today debit card have plenty of security(visa password for online shop for example) and 2fa and there is no chargeback(unless the bank account is stolen in someway)

Theres all kinds of reasons someone may want to use PayPal, a few examples I can think of are:

Extracting $ instantly using PayPal Debit Card
Acceptance with most major online retailers
Send money to family/friends that use PayPal
etc

you can do the same with a debit card, so my point still stand...

[arrowguys]

why is paypal and bitcoin is never agreed, imean both is always have problem when met.

[Tarantino]

If you can't get your money back from PayPal if you sent the money from your debit or credit card you might be able to do a chargeback via them so try that if the first option fails.

[Astargath]

If order to reverse a PayPal transaction, you will need to either lie about your account getting hacked or lie about you buying a physical item. Alternatively you can simply use stolen funds to buy bitcoin and by default, the funds will get reversed.

The problem is that when you are dealing with scammers, they will have no problem with lying about the terms of the transaction. On the other hand you are not going to be able to get the payment reversed if you are honest.

tl;dr - don't use paypal to trade bitcoin

Is paypal owners stupid? Dont they have people to investigate that kind of stuff? You cant just lie about your account getting hacked and get away with it right?

[erikalui]

I have read about cases when people mention that their accounts are hacked and PP investigates the matter and cancels the chargeback request. A only valid reason to chargeback is to say that you bought a physical good but thats if you chose that option while paying via PayPal else usually "gift" payments cannot be reversed but still they win if PP considers their complaint about their account getting hacked.

I wonder if PP would consider this excuse always else the same user will be making a chargeback request quoting their account got hacked and PP might not consider this every time.

[LFC_Bitcoin]

I have no idea why anybody would use paypal to pay for bitcoin in the first place.
There are a number of respected exchanges.

If you don't want to use an exchange check out localbitcoins.com & do a face to face cash meet.

Fuck paypal.

[Gyfts]

There are multiple ways you can go about getting your money back through paypal. If a buyer paid with a stolen credit card, or using some sort of stolen or hacked paypal account, you're 100% ALWAYS will lose your money without hope. When an actual dispute is opened, the only way someone will win with digital goods is if they claimed their paypal was hacked. To honor PayPal's terms of service, they will be forced to reverse the transaction and the scammer will win. I'm not completely sure, but if there isn't a response to a dispute on a person's side, that will also trigger an automatic loss for the person who didn't respond.

[Mr. Burns]

Are u part of the Illuminati?  Those evil bastards who promote the cops agenda of violence

[TRLBitTrade]

I sell using paypal, and reversals happen quite frequently. With that being said, I sell at a very high markup, and its because of this markup that im still able to make enough money. If you sell using paypal, require as much documentation as possible. Verified addresses, IP addresses, Verified Paypal, license, agrees and terms to the trade as well. Even when I lost chargebacks due to selling non-physical goods, the "scammer" ended up paying me back because this vital information allows you as a seller to file in a small claims courts. Once I send out these notices, I'm able to still re-cooperate my funds from a scammer, otherwise I can proceed to file a small claims court online against the user.

[muhrohmat]

well ok i use paypal to bank acount and some times do the local bit coins buy in bank to btc just it paypal its to receive just even iin btctopp

[umair01]

First of all paypal would not be my choice of payment,because your anonymity goes out the window,then comes a load of verification's,tax or service charged,late transfers,loads of bureaucracy...but having said that it is possible to reverse your transaction,by emailing them any of the various stolen card used by an impostor, account being hacked, defective goods received, not what you ordered for ...etc and they charge you back