Now PayPal accounts can be funded with Bitcoin

[coinplus]

This is a very good news to convert your bitcoin into fiat. Long back Vnbitcoin has provided this kind of bitcoin selling option with some fee. But now they have stopped buying bitcoins from us. I have seen Coinimal already has very good reputations among our bitcoin community now it's time for that to grow.....

[Amph]

they have done it to encourage more people to upgrade their status to gold

because you need that level to use paypal and other available method of payment

i'm right now on the front page and i'm seeing that you need total verification for this to work...

[Mickeyb]

they have done it to encourage more people to upgrade their status to gold

because you need that level to use paypal and other available method of payment

i'm right now on the front page and i'm seeing that you need total verification for this to work...

But do you have to do the whole verification to the gold member even if you are only receiving a payment via PayPal? This makes no sense, after all it's the seller who assumes all the risk. Seller is getting paid in PayPal, then why this complete verification?

[Amph]

they have done it to encourage more people to upgrade their status to gold

because you need that level to use paypal and other available method of payment

i'm right now on the front page and i'm seeing that you need total verification for this to work...

But do you have to do the whole verification to the gold member even if you are only receiving a payment via PayPal? This makes no sense, after all it's the seller who assumes all the risk. Seller is getting paid in PayPal, then why this complete verification?

i guess no but you must know someone trusted all the time, if you want your fund on paypal, it can be problematic in case you need full immediately

[Kakmakr]

I have searched for you on this badlist http://www.badbitcoin.org/thebadlist/index.htm#C and you are not on there, so the first box is ticked. If I may ask, why did you not promote this service more widely from the start?

This is the first time I hear about this service, where did we miss this?

Will you expand your service to accept other fiat currencies too? or are you restricted to the Euro?

[7788bitcoin]

At the moment, Paypal and bitcoin are still not "compatible". One is reversible and the other is irreversible transfer; one is based on trust and the other is trust-less. Please think thrice before using this type of services.

[barbara44]

At the moment, Paypal and bitcoin are still not "compatible". One is reversible and the other is irreversible transfer; one is based on trust and the other is trust-less. Please think thrice before using this type of services.

But nothing will stop you to fund your paypal account with bitcoin due to any incompatibility you have mentioned.
Very much useful if people wanted to get cash out of bitcoin.

[TastyChillySauce00]

its very good for the bitcoin world , it'll make paypal funding easier for a bitcoiners, but im still not interested on using paypal as my primary payment proceccor, due to the security protection that's too high , its make me (user) feel not comfortably , and even they'd make the security high , there's still some account that get stolen by hacker

[TwinWinNerD]

they have done it to encourage more people to upgrade their status to gold

because you need that level to use paypal and other available method of payment

i'm right now on the front page and i'm seeing that you need total verification for this to work...

No verification is needed for the customer.

I have searched for you on this badlist http://www.badbitcoin.org/thebadlist/index.htm#C and you are not on there, so the first box is ticked. If I may ask, why did you not promote this service more widely from the start?

This is the first time I hear about this service, where did we miss this?

Will you expand your service to accept other fiat currencies too? or are you restricted to the Euro?

The Bitcoin to PayPal service was launched yesterday, we had no time to do more promotion (besides the rank #1 reddit/r/bitcoin post).

We will expand the service to USD and later to GBP and CHF, but those things take time as banks are involved.

[n2004al]

I smell a scam

probably big fees or other shady thing that are not mentioned as usual, like credentials or very long wait for confirmation(not bitcoin) and crap like that

Have a big concurrent (Payza) so have no sense to establish big fees. No one will use it as a currency processor for bitcoin if this will be true. But who knows... Everything is possible in this world. Who knows their strategies of marketing for this new product offered by them...

[DarkHyudrA]

Hello guys,

I am the CEO of the mentioned company.

Yes this is real, and everything is checked with PayPal. From our side, there is no fee at all, only the standard fee that PayPal charges to someone receiving a payment on PayPal.

If you have any questions, I am happy to answer it.

IDK if in Europe they charge differently, but here on Brazil they charge a heavy ~10% fee, which is ridicously high and made everybody on the country to avoid such PITA. IKR that outside here PayPal is famous and very used, but if you could get a "discount" on the fees I think it would be more atractive. Just my opinion.

[TwinWinNerD]

Hello guys,

I am the CEO of the mentioned company.

Yes this is real, and everything is checked with PayPal. From our side, there is no fee at all, only the standard fee that PayPal charges to someone receiving a payment on PayPal.

If you have any questions, I am happy to answer it.

IDK if in Europe they charge differently, but here on Brazil they charge a heavy ~10% fee, which is ridicously high and made everybody on the country to avoid such PITA. IKR that outside here PayPal is famous and very used, but if you could get a "discount" on the fees I think it would be more atractive. Just my opinion.

Currently Coinimal itself doesn't charge any fees and sends out at Kraken.com market rate. The receiving party incurrs a paypal fee, but as you said this is different for every country and currency, so you need to check on your local PayPal page. But if you don't make a micro order, the fee will be much less than 10%.

[Mickeyb]

they have done it to encourage more people to upgrade their status to gold

because you need that level to use paypal and other available method of payment

i'm right now on the front page and i'm seeing that you need total verification for this to work...

No verification is needed for the customer.

Just as I thought! The other way around made no sense! Thanks for clarification!

[iram66680]

Couldn't Paypal accounts be funded by Bitcoins already by exchanging with members or using online services eg. virwox or go on localbitcoins.com? It does sound very new and I doubt that is can be very trusted yet.

[Light]

I think this service would be good if they could ask paypal to reduce it's fees

That's not going to happen unless PayPal actually have some legitimate competition. Since it currently is the largest e-commerce payment method (aside from CC) it doesn't have to fear anyone else. Not to mention that Bitcoin hasn't really made the huge dent that people originally thought it might - while adoption is increasing it hasn't been particularly huge.

[Meuh6879]

At the moment, Paypal and bitcoin are still not "compatible". One is reversible and the other is irreversible transfer.

partially wrong ... verified account of paypal can not reverse payment on a exchange that it allow ONLY verified paypal account. 

verified account : KYC (name, adresse, ...) and bank account provided.

[RKing]

I think this service would be good if they could ask paypal to reduce it's fees

That's not going to happen unless PayPal actually have some legitimate competition. Since it currently is the largest e-commerce payment method (aside from CC) it doesn't have to fear anyone else. Not to mention that Bitcoin hasn't really made the huge dent that people originally thought it might - while adoption is increasing it hasn't been particularly huge.

When bitcoin is used within Paypal, as the cost of bitcoin transaction is lower than fiat, Paypal should reduce the fee. If it does not reduce, somebody can come in to compete with Paypal.

[TastyChillySauce00]

I think this service would be good if they could ask paypal to reduce it's fees

That's not going to happen unless PayPal actually have some legitimate competition. Since it currently is the largest e-commerce payment method (aside from CC) it doesn't have to fear anyone else. Not to mention that Bitcoin hasn't really made the huge dent that people originally thought it might - while adoption is increasing it hasn't been particularly huge.

When bitcoin is used within Paypal, as the cost of bitcoin transaction is lower than fiat, Paypal should reduce the fee. If it does not reduce, somebody can come in to compete with Paypal.

yeah agree with it ,and also, paypal should remove their silly verification or atleast,make the verification took short time

[pjsonowal]

Coinimal, a Vienna based company, now allowing PayPal EUR accounts to be funded with Bitcoin & NXT.

https://www.coinimal.com/trades/sell/paypal

Nice.... Atlast i got the way out to send bitcoin amount to my bank account... Thanks a lot...

[tennozer]

why I funded my paypal account with my bitcoins? I can not even use my paypal balance in anywhere, but I can use bitcoin where I want. Also I can exchange my bitcoin easily too.