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Author Topic: Beware of PayPal and other reversible transfer services  (Read 305760 times)
liamnorthcoins
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January 28, 2018, 09:46:24 AM
 #721

I'm offering a service to help educate users on how to accept PayPal for BTC. Details are in the link.

http://forum.bitcoin.org/index.php?topic=22255.0
"This site can't be reached"

i try to visit the site but i think its broken..need help guys..thanks in advance
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OmegaStarScream
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January 28, 2018, 10:10:39 AM
 #722

i try to visit the site but i think its broken..need help guys..thanks in advance

The forum was moved from Bitcoin.org to Bitcointalk.org so just copy the topic number: https://bitcointalk.org/index.php?topic=22255.0 There is nothing useful there though, as the link he posted is down as well.

liamnorthcoins
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January 29, 2018, 02:17:36 AM
 #723

Im still using paypal . may i know what's the best method to pay "

see this i think it will help. https://99bitcoins.com/buying-bitcoins-with-paypal-a-practical-guide/
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January 31, 2018, 04:24:40 AM
 #724

Thank you for your information I will be wary Wink

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February 10, 2018, 04:23:53 PM
 #725

A lot of people tend to trust VirWox

VirWox Fees are very high
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February 12, 2018, 09:25:44 AM
 #726

But for western union I think its abit safe since in most WU transfers there is no wallet involved.. The intention of the sender is clearly interpreted interpreted and the receiver can withdraw funds three minutes after the transfer has been effected
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February 13, 2018, 08:54:38 AM
 #727

I think the cheapest option to fund your account is bank transfer. It cost me nothing when i did it. But when i used my credit card, they charged me around 5% of the total amount 
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February 24, 2018, 12:16:45 PM
 #728

I personally use VirWox and it works very well for these operations
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February 26, 2018, 10:07:21 AM
 #729

thanks for info

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BrittneyHarkins
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February 26, 2018, 11:21:00 AM
 #730

Or just use a screencast video of you paying via 'friends and family', which doesn't allow chargebacks
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March 02, 2018, 12:17:47 AM
 #731

hi fellow BTC'ers....I have been seeing these listings  where you send btc  for $ paypal my cash......anyone have experience with this service?  Is there any success on this ever?? 

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March 07, 2018, 02:20:48 AM
 #732

Hi.

What time it takes to pay pal to transfer funds from the counterparty to the counterparty.
Thanks
Why would you want to do that?
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March 07, 2018, 02:46:51 AM
 #733

Or just use a screencast video of you paying via 'friends and family', which doesn't allow chargebacks

You are wrong there.

When the subject of buying BTC with Paypal comes up, I often remember this: 

Insanity: doing the same thing over and over again and expecting different results.

Albert Einstein
cpbtc
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March 07, 2018, 10:03:50 PM
 #734

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.

I see trade offers which is not 1:1 between BTC & PP. Like pay 30 usd as btc and get 33 usd via paypal. What is the purpose of it? Assume you did it through a trusted escrow and not it's also not reversed; so what risk you get? Or how to do it, what kind of wallet or intermediate ways not to get tracked?
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March 08, 2018, 07:00:28 AM
 #735

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.

I see trade offers which is not 1:1 between BTC & PP. Like pay 30 usd as btc and get 33 usd via paypal. What is the purpose of it? Assume you did it through a trusted escrow and not it's also not reversed; so what risk you get? Or how to do it, what kind of wallet or intermediate ways not to get tracked?

The rates are not with PayPal only. It's usually justified by the risks of dealing with someone using a reversible payment method or the volatility of bitcoin price.

It's useless to use an escrow with reversible transfer services but If you ever do that and the transaction didn't get reversed, there are no other risks. (keep in mind that someone could reverse even after months of the transaction). As for the last part of your question, I'm not sure what do you mean by getting tracked.

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March 08, 2018, 07:40:01 AM
 #736

I'm not sure what do you mean by getting tracked.

What i mean why someone sells money without 1:1 ratio? The risk what i meant is getting traced by the gov. You earned some bucks like %110 ratio, you have it in paypal, right? Now you'll withdraw these, right? Assume that photo ID is valid or whatever. If you withdraw, what is the risk you get? I'm not only saying what if money will be get reversed or not; it's a risk yes, but not the legal risk.

Cheers.

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March 09, 2018, 08:06:55 AM
 #737

What i mean why someone sells money without 1:1 ratio? The risk what i meant is getting traced by the gov. You earned some bucks like %110 ratio, you have it in paypal, right? Now you'll withdraw these, right? Assume that photo ID is valid or whatever. If you withdraw, what is the risk you get? I'm not only saying what if money will be get reversed or not; it's a risk yes, but not the legal risk.

Cheers.

I doubt there is such law because It doesn't make much sense, bitcoin rates are different from exchanges so instead of saying preev.com +5% for example, one could simply use the exchange with the highest price. I'm far from being able to give you a legal advice, so I suggest checking this with a lawyer or something. Either way, you're dealing with an individual so your bank/paypal can't really know the purpose of the transaction and the rates unless they has been mentioned in a message from the sender.

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March 09, 2018, 01:28:58 PM
 #738

I sold a computer power supply on ebay using paypal. Well the guys paid then wrote me it is broken. Before I could answer him my paypal was minus. He toke his money back. But it is not that simple anymore! The money he took back was put in a special account. He was required to send me the Power Supply before the money was released.
I would assume a plan money transfer is the same. But dont know but worth looking into!
karuniarayyan
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March 10, 2018, 02:57:31 PM
 #739

Not necessarily company account, it can be your own personal account as well.
You should ask sender to send payment using goods & services option and not as family & friends.
Not giving: You have to send something physical which can be tracked to the address mention in the PayPal a/c of the user from whom you accepted that payment.
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March 21, 2018, 01:00:17 PM
 #740

Thank you very much for this infor Grin Grin
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