Bitcoin Forum
September 26, 2018, 11:59:49 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: So does PayPal ban bitcoins or not?  (Read 1334 times)
TradeFortress
https://bitcointalk.org/index.php?topic=4589356.0
VIP
Legendary
*
Offline Offline

Activity: 1008
Merit: 1023


View Profile
October 19, 2012, 03:41:40 AM
 #1

Lots of services like Bitinstant pays out via paypal.
There are numerous Bitcoins being sold on ebay, therefore paypal.
What's the official stance?

✳️✳️Did you lose money in CoinLenders or Inputs.io? Please contact me by Dec 31st, 2018 for a reimbursement | Hashie refunds ✳️✳️
Beware of impersonators! I will ONLY ever email you from admin+g [at] glados.cc or THIS bitcointalk account.
📈Trade on BitMEX with 100x leverage. Get 10% off fees with this link!
1537963189
Hero Member
*
Offline Offline

Posts: 1537963189

View Profile Personal Message (Offline)

Ignore
1537963189
Reply with quote  #2

1537963189
Report to moderator
1537963189
Hero Member
*
Offline Offline

Posts: 1537963189

View Profile Personal Message (Offline)

Ignore
1537963189
Reply with quote  #2

1537963189
Report to moderator
1537963189
Hero Member
*
Offline Offline

Posts: 1537963189

View Profile Personal Message (Offline)

Ignore
1537963189
Reply with quote  #2

1537963189
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537963189
Hero Member
*
Offline Offline

Posts: 1537963189

View Profile Personal Message (Offline)

Ignore
1537963189
Reply with quote  #2

1537963189
Report to moderator
1537963189
Hero Member
*
Offline Offline

Posts: 1537963189

View Profile Personal Message (Offline)

Ignore
1537963189
Reply with quote  #2

1537963189
Report to moderator
Stephen Gornick
Legendary
*
Offline Offline

Activity: 2506
Merit: 1001


View Profile
October 19, 2012, 07:19:00 AM
 #2

Lots of services like Bitinstant pays out via paypal.
There are numerous Bitcoins being sold on ebay, therefore paypal.
What's the official stance?

From another thread:

If you are only doing small person-to-person trades, infrequently and neither side has chargeback issues, you probably can keep trading bitcoins using PayPal for quite some time.

But when you start trading suddenly for larger amounts (e.g., more than a thousand dollars a month or a multiple of previous monthly average amount) or you start doing a ton of transactions -- especially involving funds from the buyer's credit card, or either you or your counterparty has chargebacks ... then you are playing with fire.  And you will get burned.

Here's the specific terms:

 - https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=ua/AcceptableUse_popup

Quote
Prohibited Activities
You may not use the PayPal service for activities that:
3. h) involve currency exchanges or check cashing businesses,


And if you'ld like to see a heartwarming story about the aftermath after Paypal realized some trader was selling bitcoins and followed that discovery by reversing 20 or so recent transactions and then freezing the funds, start here:
 - http://bitcointalk.org/index.php?topic=83679.msg1001602#msg1001602


And another thread where the eBay seller got his PayPal account frozen:

I got suspended for selling paperclips with free bitcoins 2 days ago, and yes i sent the damn clips with a tracking number. They want all kind of documents to re-enable my account. I had only positive votes with them but the fees are killing me so i think i will pass doing something about it. They will get to know bitcoin in the end.
Xch4ng3
Hero Member
*****
Offline Offline

Activity: 639
Merit: 501



View Profile WWW
October 21, 2012, 10:51:18 AM
 #3

You can easily get away with this if you're doing person-to-person trades but you can't start doing it as a business.

Quote
Prohibited Activities
You may not use the PayPal service for activities that:
3. h) involve currency exchanges or check cashing businesses

Quoted from above me which clearly states you can't use it for currency exchanging services. You could attempt to get away with it by adding the BTC on as a "gift." but due to the nature of this kind of business it'd lead to red flags for PayPal.

[AUTOBUY] [CHEAP] $2 Account Shop -> https://bitcointalk.org/index.php?topic=4611147
nobbynobbynoob
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


Annuit cœptis humanae libertas


View Profile WWW
October 21, 2012, 12:42:35 PM
 #4

The most headache-free option is just don't use PayPal. They are asinine like banksters. Of course, this isn't really very helpful advice in the main, especially if you're itching to do business on eBay. Still, the reversible nature of transactions makes PayPal, credit cards, etc. a risky method to sell BTC.

Earn Free Bitcoins!   Earn bitcoin via BitcoinGet
BTC tip: 1PKkvuwC24Vqjv9odigXs1QVzE66jEJqmb (if <200 µBTC, please donate to charity)
LTC tip: LRqXaNdF79QHvhPpS5AZdEJZnLiNnAkJvq (if <Ł0,05, please donate to charity)
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!