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Author Topic: Possible solution for paypal trading ?  (Read 2138 times)
noel57
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July 08, 2015, 10:53:07 PM
 #21

So right now selling bitcoins for paypal is dangerous for the seller because the buyer cand ask for a refund but what if.. You use escrow and you send the btc to the escrow, now the buyer has to send you the money to paypal and the escrow wont give him the btc until you have the money on paypal and you withdraw it to your bank account, now escrow gives buyer the btc and thats it. You have your money, he has his btc
You have been giving the best possible answers, escrow have nothing to do with it and no seller or buyer will wait for 180 day after transactions to claim funds, the best thing is to avoid it.

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July 10, 2015, 04:58:51 PM
 #22

A good question to ask. However the issue is chargebacks. After the deal is done there is a chance the buyer will create a chargeback. You can dispute a chargeback however it more than ALWAYS favours with the buyers bank. Yes you can transfer the money to your bank account, however the paypal account will still be charged (if there is money or no money). If you have insufficient funds in the account, paypal will transfer your details on to a debt collector which will incur additional fees, if these fees and payment are not paid you will be called to court (where you will get more fees and 100% lose). The best way to avoid chargebacks is to know your customer and also make sure they pass a few security checks. Hope this helps!

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July 10, 2015, 11:35:05 PM
 #23

So right now selling bitcoins for paypal is dangerous for the seller because the buyer cand ask for a refund but what if.. You use escrow and you send the btc to the escrow, now the buyer has to send you the money to paypal and the escrow wont give him the btc until you have the money on paypal and you withdraw it to your bank account, now escrow gives buyer the btc and thats it. You have your money, he has his btc

Until they charge back within 180 days time frame. Your account is now negative, Paypal starts collection process.
As has been stated many, many times: Escrow with Paypal is useless for the seller.

This is correct. It does not matter if you can take out your paypal funds before the chargeback.

Paypal will go after you. In many cases Paypal chargebacks are done with stolen accounts so its not like you can win a dispute saying that the paypal account holder really authorized the transaction

Never accept paypal period unless it is from a friend or family member you trust
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July 12, 2015, 12:19:31 PM
 #24

See I have not personally does that but what I have research and asked to experienced trader. I found this thing hard to do and stressful, even results are not obvious.
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