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Author Topic: Beware of PayPal and other reversible transfer services  (Read 304564 times)
Sasukeevil
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March 19, 2016, 06:24:19 PM
 #481

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
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sardasa
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March 19, 2016, 06:30:11 PM
 #482

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

Sasukeevil
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March 19, 2016, 06:34:44 PM
 #483

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

I can as well but don't want to be overcharged.
sardasa
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March 19, 2016, 06:42:15 PM
 #484

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

I can as well but don't want to be overcharged.
You'll buy using fiat from exchanges &  they don't over charge.

Sasukeevil
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March 19, 2016, 06:51:17 PM
 #485

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

I can as well but don't want to be overcharged.
You'll buy using fiat from exchanges &  they don't over charge.

Besides, I have to get local currency to buy BTC and I only have USD.
sardasa
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March 19, 2016, 06:54:50 PM
 #486

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

I can as well but don't want to be overcharged.
You'll buy using fiat from exchanges &  they don't over charge.

Besides, I have to get local currency to buy BTC and I only have USD.

Do you buy food and pay your bills in USD?

Sasukeevil
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March 19, 2016, 07:01:32 PM
 #487

This Paypal policy really sucks. I have money on Paypal, no interest on scamming anybody, and can't use it or convert to Bitcoin because nobody trusts Paypal payments. And on the other side, everybody wants to pay using Paypal so I have to accept it.  Sad
Accept PayPal payments from your customers & withdraw that money to your bank a/c and then buy BTC using that money from your bank.
Easy as this.

Can you buy BTC directly in your country?
Yes, I can.

I can as well but don't want to be overcharged.
You'll buy using fiat from exchanges &  they don't over charge.

Besides, I have to get local currency to buy BTC and I only have USD.

Do you buy food and pay your bills in USD?

No, I exchange my Skrill for local currency when I need it. Also, I can earn extra 4%~5% during the transactions.
rod1234
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March 20, 2016, 07:23:21 AM
 #488

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
sardasa
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March 20, 2016, 07:26:38 AM
 #489

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
Deal with trusted users if you are selling for PayPal.

rod1234
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March 20, 2016, 02:27:28 PM
 #490

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
Deal with trusted users if you are selling for PayPal.

Yes but besides pp what is the safest way to do a deal so there is no chargeback
sardasa
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March 20, 2016, 02:46:12 PM
 #491

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
Deal with trusted users if you are selling for PayPal.

Yes but besides pp what is the safest way to do a deal so there is no chargeback
Perfect Money, accept cash in person or bank  transfers

fireneo
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March 31, 2016, 07:47:07 AM
 #492

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

Noob moment. I didn't know this. Must pay more attention to this stuff in the future. Thanks for the heads up!
hulla
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March 31, 2016, 06:28:11 PM
 #493

If they send you the payment as a gift (there is an option to do so), they CANNOT charge you back / get a refund.

Not true. They can fund their PayPal account with ACH, which is reversible. If they reverse this ACH transfer, PayPal will take back the funds.

Gift payments can also be made directly with a credit card, which is even easier to chargeback.

But ACH is a US company... What about people which are not from US?

hulla
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March 31, 2016, 06:30:26 PM
 #494

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
Deal with trusted users if you are selling for PayPal.

Yes but besides pp what is the safest way to do a deal so there is no chargeback
Perfect Money, accept cash in person or bank  transfers

You're right about perfect and accept cash in person but I don't go with bank transfers cos the account maybe a stolen account

hulla
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March 31, 2016, 06:32:16 PM
 #495

It's probably been asked here but I don't exactly have time to go read 25 pages
So what is the safest way to sell btc and stay with the money you got payed
Deal with trusted users if you are selling for PayPal.

You're right but how can know the person to be trust.. Besides, is no company that buy BTC and pay through paypal?

GreenMatrix
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April 18, 2016, 02:20:19 PM
 #496

very good thread!! Thanks for all!!! Wink


 
 
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Fourge
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April 20, 2016, 09:14:57 AM
 #497

When trading paypal you need to have a MM account which you can use to send funds to your real account, it makes scamming very difficult and you can  make a PP account for $10

hulla
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April 20, 2016, 01:33:51 PM
 #498

When trading paypal you need to have a MM account which you can use to send funds to your real account, it makes scamming very difficult and you can  make a PP account for $10

Which type of account is MM account, how does it works and when you said PP are you refering to paypal account?

Fourge
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April 20, 2016, 02:09:09 PM
 #499

When trading paypal you need to have a MM account which you can use to send funds to your real account, it makes scamming very difficult and you can  make a PP account for $10

Which type of account is MM account, how does it works and when you said PP are you refering to paypal account?
A MM account is a middle man paypal account you use to receive the funds and send to your main account.

TheButterZone
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April 20, 2016, 06:12:17 PM
 #500

When trading paypal you need to have a MM account which you can use to send funds to your real account, it makes scamming very difficult and you can  make a PP account for $10

Which type of account is MM account, how does it works and when you said PP are you refering to paypal account?
A MM account is a middle man paypal account you use to receive the funds and send to your main account.

Then PayPal domino chargebacks your main account, then the MM account, all the way back to the chargebacker.

Middle man paypal account can be of your own i believe. You just create an account and use that to receive the funds and transfer to your main account so a charge back can not happen to lock your account. If it does then it happens to the MM account and that is a throw away account anyways since they can not trace it back to you.

^ Needs to read the post directly above before posting.

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