Paypal vs. Bitcoin in the Marketplace on this forum

[SlickMoTwoToe]

I'm not really comfortable working with Paypal as it seems a lot more into the legal aspect of trades like needing your real name and address and freezing your account if they don't like what you're doing.

First of all, would I be in trouble if I made a Paypal account with fake info for the purpose of accepting payments? What could forseeably happen to me legally?

If I didn't want to mess with Paypal, but had a customer that wanted to do a Paypal payment, is there any trusted member here who would accept the Paypal and give me the equivalent in Bitcoin (while possibly keeping a small fee themselves)?

[Firedude]

only feel safe with bitcoins online

[SlickMoTwoToe]

only feel safe with bitcoins online

Yeah that's pretty much what I thought.

[achow101]

This is a bitcoin forum, if anyone wants to do a trade with PayPal here, they are very likely to be scamming

[SlickMoTwoToe]

This is a bitcoin forum, if anyone wants to do a trade with PayPal here, they are very likely to be scamming

I didn't think about that... On a similar note though, I wonder how many people come here who have never actually used bitcoin

[Amph]

you can sell for now and receiving funds in paypal, with coinimal, it's legit and secure, and it is fast, there are also no ID required

i would avoid dealing with members here with paypal, if this si your concern, unless he/she is very very trustworthy...

[zodiac3011]

bitcointalk forum can be unpredictable so doing any trades with paypal can contain a big risks of being scammed because paypal transaction are reversible while bitcoin isn't (unless you are trying to do an attack) and bitcoin is anonymous so you will have more confident doing any transaction

[Loimu]

Agree with everyone here. PayPal is not good, not to be used. Only bitcoin for me online from now on until the eternity

I used to use PayPal few back. I had already verified my account by sending them all kind of information like my passport and proof of address. They limited and froze all my funds because of 'suspicious activity', meaning I had 10-15 transactions coming to my account from random people totaling under $50 in amount. Those transactions I had got as a donations to my website from people I do not personally know. So, they limited my account, froze my funds and demanded that I should call them and upload some kind of proofs for these transactions and to explain why some guy from India might be transferring one dollar to me.

That was the end of the line for me. I left the balance there and never took their requirements to 'clarify' the funds and spend my time for that. If it was worth the $20 or so to lose multiple year customer, then so be it. Since that I have only spoken bad things about them and given advice to others to stay clear of PayPal and look into bitcoin instead.

[SlickMoTwoToe]

you can sell for now and receiving funds in paypal, with coinimal, it's legit and secure, and it is fast, there are also no ID required

i would avoid dealing with members here with paypal, if this si your concern, unless he/she is very very trustworthy...

So are you saying that I can set up something with Coinimal that would let the buyer send coinimal paypal and then coinimal would send me the equivalent BTC?

[notlist3d]

Be very careful before using paypal.  I would be more worried about scams then name being known.

Sadly many paypal transactions can be reversed.  BTC sending cannot.... so it's way to easy to be scammed.

[zencomp]

what ever every person told here about paypal is 1000% correct that dealing with paypal is clearly inviting scam in the trade, it is clearly that even after many days,months,years you can reverse your transaction, and most of the scammers give so much delicious offers that you will fell in that scam and get screwed it.

so the whole thing is when ever you hear about paypal in any trade or scheme , better to avoid 100%

[helloeverybody]

Chances are if you do a trade with someone using paypal then they will open a dispute and you will end up without your btc.

[adicted]

is there any trusted member here who would accept the Paypal and give me the equivalent in Bitcoin (while possibly keeping a small fee themselves)?

The answer is a big no obviously because the risk of experiencing a chargeback. Take a look on the currency exchange section of this forum and see how PayPal payments from non-reputable members were being denied Only PayPal funds from reputable members were being welcomed and accepted.

[ironbit]

Well, Paypal is very great in closing account when they have a hint that you are dealing with Bitcoin or cryptocurrencies. If they close your account, all your balance is probably gone.

[SlickMoTwoToe]

Well, Paypal is very great in closing account when they have a hint that you are dealing with Bitcoin or cryptocurrencies. If they close your account, all your balance is probably gone.

@ everyone else above too

Wow thanks for the advice... I guess Paypal is for plebs and old grannies who do their plebby Ebay & Amazon shopping and not for serious traders or anyone interested in cryptocurrency. I'm glad I asked here because I was very close to creating an account. Just more reasons to use Bitcoin 

[extrabyte]

If you start selling things by accepting paypal you should consider that someone will send funds from a stolen paypal, so in these cases paypal maybe will require you to verify your account so you should send them real information, so the best way is to create with real information.

[Mickeyb]

is there any trusted member here who would accept the Paypal and give me the equivalent in Bitcoin (while possibly keeping a small fee themselves)?

The answer is a big no obviously because the risk of experiencing a chargeback. Take a look on the currency exchange section of this forum and see how PayPal payments from non-reputable members were being denied Only PayPal funds from reputable members were being welcomed and accepted.

Yes, why the heck would someone take a risk for you, a risk of getting charged backed? I can't believe that you would even ask or propose something like this.

About you using fake names, I guess you can use any names but you won't be able to verify your account and withdraw your money to the bank account, essentially having your money stuck in your PayPal account!

[virtualx]

First of all, would I be in trouble if I made a Paypal account with fake info for the purpose of accepting payments? What could forseeably happen to me legally?

Yes, this is against the law. You would be in trouble if you get detected.

[Hellacopter]

The marketplace here use the Bitcoin usually because it's the Bitcoin's forum, and also Paypal with its chargeback feature isn't as safe as Bitcoin.
But you can visit the exchange section and ask there if you need to exchange paypal into bitcoin

[notlist3d]

The marketplace here use the Bitcoin usually because it's the Bitcoin's forum, and also Paypal with its chargeback feature isn't as safe as Bitcoin.
But you can visit the exchange section and ask there if you need to exchange paypal into bitcoin

The hard part is also the timeframe paypal covers is normally long.  I mean you might think it's all good and a week later person claims their account was hacked... can get money back.

That is very scary as BTC is not reversible.  A week later you can't get that BTC back.  I would never sell BTC for paypal to be honest.