Bitcoin Forum
June 16, 2019, 09:59:21 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Beware of buying crpto with PayPal - Not always reversible  (Read 1223 times)
EasyD
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
April 22, 2015, 03:19:47 AM
 #1

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.)
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
1560679161
Hero Member
*
Offline Offline

Posts: 1560679161

View Profile Personal Message (Offline)

Ignore
1560679161
Reply with quote  #2

1560679161
Report to moderator
retes1234
Full Member
***
Offline Offline

Activity: 196
Merit: 100


https://dadice.com the #1 dice site


View Profile
April 22, 2015, 03:34:00 AM
 #2

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
Copper Member
Legendary
*
Offline Offline

Activity: 1806
Merit: 1679


Practice Captcha look at Avatar, slct Fire Hydrant


View Profile WWW
April 22, 2015, 03:37:16 AM
 #3

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
Legendary
*
Offline Offline

Activity: 2198
Merit: 1003



View Profile
April 22, 2015, 06:16:43 AM
 #4

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
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
April 22, 2015, 07:20:07 AM
 #5

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
Legendary
*
Offline Offline

Activity: 2198
Merit: 1003



View Profile
April 22, 2015, 07:31:13 AM
 #6

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
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
April 22, 2015, 07:39:39 AM
 #7

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
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
April 23, 2015, 06:50:33 AM
 #8

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

Activity: 2198
Merit: 1003



View Profile
April 23, 2015, 08:06:47 AM
 #9

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
Member
**
Offline Offline

Activity: 101
Merit: 10


View Profile
April 23, 2015, 11:08:45 AM
 #10

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

Activity: 56
Merit: 0


View Profile
April 25, 2015, 12:02:34 PM
 #11

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
Hero Member
*****
Offline Offline

Activity: 1120
Merit: 614



View Profile
April 25, 2015, 01:55:30 PM
 #12

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?

......
.L I V E C O I N . N E T.
.
..PROFITBOX..
██  █████████████████████████
  █████████▄      ▄██████████
█████████████▄  ▄████████████
    █████████████████████████
  ██████████▀    ▀█ ▀████████
████  █████▀  ▄▄  ▀█  ▀██████
  ████████▀  ▄██▄  ▀█   ▀████
    ██████   ▀██▀   ██   ████
  █████████▄      ▄██████████
██  █████████▄  ▄████████████
  ███████████████████████████
██  █████████████████████████
  █████████████████████▀ ███
█████████████████████▀   ███
    █████████████▀     ████
  █████████████▀   ██    ████
████  █████▀     ██    ████
  ███████▀   ██    ██    ████
    █████    ██    ██    ████
  ███████    ██    ██    ████
██  █████    ██    ██    ████
  ███████████████████████████
.....
erikalui
Legendary
*
Offline Offline

Activity: 1666
Merit: 1050



View Profile WWW
April 25, 2015, 06:05:42 PM
 #13

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.

                                           ▄▄███████▄▄
      ▄▄███████▄▄                       ▄███████████████▄      ▄▄███████▄▄
   ▄███████████████▄    ▄▄███████▄▄    ███████████████████  ▄███████████████▄      ▄▄███████▄▄
  ██████▀▀▀▀▀▀▀▀█████▄███████████████▄██████▌  ▐███▀▀▀████████████▀▀▀▀▀███████  ▄███████████████▄
 ███████   ▄▄▄▄▄█████████████▀▀▀▀▀██████████   ███▌  ▐█████████     ▄▄▄███████████████████████████
████████   ▀▀▀▀██████████      ▄▄▄█████████▌   ▀▀▀   ██████████   ▀▀▀▀██████████████   ███   ██████
████████   ▄▄▄▄█████████████▌  ▐███████████   ▄▄▄▄   ██████████▌   ▄▄▄███████████████   ▀   ████████
████████   ▀▀▀▀▀████████████▌  ▐██████████▌  ▐███▌  ▐██████████▌   ▀▀   ██████████████▌   ▐█████████
 ███████▄▄▄▄▄▄▄▄█████████████   █████████████████▄▄▄████████████   ▄▄▄███████████████   ▄   ████████
  ███████████████████████████   ████████▀███████████████▀  █████████████████████████   ███   ██████
   ▀███████████████▀███████████████████    ▀▀███████▀▀      ▀███████████████▀  ███████████████████
      ▀▀███████▀▀    ▀███████████████▀                         ▀▀███████▀▀      ▀███████████████▀
                        ▀▀███████▀▀                                                ▀▀███████▀▀
.BET











▐████████████████████▌
  ██████████████████ 
  ██▄▄        ▄▄██▄ 
  ████
██████████████ 
  ███████
███████████ 
   █████
███████████   
   ▄██████████████▄   
  ▄████████████████▄ 
  ██████████████████ 
  ▐██████████████▌ 
   ▀▀    ▀▀▀▀    ▀▀   
  ██████████████████ 
  ███████████████████ 
..PLAY NOW..











LFC_Bitcoin
Copper Member
Legendary
*
Offline Offline

Activity: 1736
Merit: 1779


One of the world's leading Bitcoin-powered casinos


View Profile
April 25, 2015, 08:54:56 PM
 #14

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.




Code:
[center][table][tr][td][url=http://bit.ly/WelcomeToBitcasino][size=2pt][tt][color=#FF5111]       ██
       ▄▄   ▄▄
  ▐██ ▐██▌ ▐██▌
       ▄▄        ▄▄
▀  ▀  ▐██▌      ████
       ▄▄   ▄▄   ▀▀
▀  ▀  ████ ▐███
       ▀▀   ▀▀   ▄▄
▀  ▀  ▐██▌      ████
       ▀▀        ▀▀
  ▐██ ▐██▌ ▐██▌
       ▀▀   ▀▀
       ██[/size][/td]
[td][color=transparent][size=2pt].[/size][/color]
[url=http://bit.ly/WelcomeToBitcasino][color=#444][font=ubuntu,arial][size=18pt]Bitcasino[color=#FF5111].[/color]io[/size][/font][/td][td][/td][td][/td][td][/td]
[td][size=20pt][color=#ccc]│[/size][/td]
[td][color=transparent][size=1pt].[/size][/color]
[url=http://bit.ly/WelcomeToBitcasino][size=11pt][font=arial black][glow=#241651,2][size=10pt][color=#241651].....[/color][/size][font=calibri,arial][b][color=#fff]First licensed[font=arial black][size=10pt][color=#241651]......
.....[/size][/font][color=#FF5111]Bitcoin casino[font=arial black][size=10pt][color=#241651]....[size=9pt].[/size][/color][/size][/glow][/font][/td]
[td][color=transparent][size=1pt].[/size][/color]
[url=http://bit.ly/WelcomeToBitcasino][size=11pt][font=arial black][glow=#241651,2][size=10pt][color=#241651].....[/color][/size][font=calibri,arial][b][color=#fff]100% bonus[font=arial black][size=10pt][color=#241651].....
.....[/size][/font][color=#FF5111]Up to 1 BTC[font=arial black][size=10pt][color=#241651].....[size=7pt].[/size][/color][/size][/glow][/font][/td]
[td][color=transparent][size=1pt].[/size][/color]
[url=http://bit.ly/WelcomeToBitcasino][size=11pt][font=arial black][glow=#241651,2][size=10pt][color=#241651].....[/color][/size][font=calibri,arial][b][color=#fff]24/7 Support[font=arial black][size=10pt][color=#241651].....
.....[/size][/font][color=#FF5111]Fast Payouts[font=arial black][size=10pt][color=#2416
Gyfts
Legendary
*
Offline Offline

Activity: 995
Merit: 1000


View Profile
April 25, 2015, 10:50:54 PM
 #15

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
Full Member
***
Offline Offline

Activity: 165
Merit: 100


View Profile
April 25, 2015, 11:46:55 PM
 #16

Are u part of the Illuminati?  Those evil bastards who promote the cops agenda of violence
TRLBitTrade
Newbie
*
Offline Offline

Activity: 32
Merit: 0


View Profile
April 27, 2015, 03:00:33 AM
 #17

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
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
April 27, 2015, 08:53:15 AM
 #18

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
Hero Member
*****
Offline Offline

Activity: 602
Merit: 500



View Profile
April 27, 2015, 11:29:33 AM
 #19

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
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!