Beware of PayPal and other reversible transfer services

[LoWang]

I'm quite puzzled. So how can I buy bitcoins safely without linking my bank account to trade websites like bitcon.de?

What problem do you see in bitcoin.de? There is no "linking" with your bank account. They cannot make money transfers without your action so I see no risk there.

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[testbug]

So guys,

i was looking many hours now for a real paypal / btc exchange. sadly i wasnt able to find any yet.

on the paypal page i checked their allowed items to be sold, and it is saying that other currencies are not allowed to be payed via paypal or ebay.

on the other hand, they are saying, buyers/seller protection isnt available to digital goods.

Could someone explain this too me?

[hostmaster]

Nice post, I cant emphesize enough the importance. i have had many time from paypal and payza for chargebacks, it's not really business i have seen many incidents which ending i have to obey dicipline of paypal. As a seller gave me no change then refund. But thanks Bitcoin frauders are losers!
 

[shinjikenny123]

I noticed that paypal charges you a fee when your account is funded from a credit card and send a personal payment.
Does the one receiving the payment gets charged too?

[giletto]

No, personal payment has only fee on the sender side, not for the receiver.

[stex2009]

Selling cryptos on Ebay/Paypal and avoiding chargebacks ..

Clearly there is no perfect procedure from a sellers viewpoint;
but what are your thoughts about this method ..

1) Keep single auction dollar amounts under $500.00
2) Require a 'verified' payPal account
3) Require a minimum feedback score and or recent ebay activity level
4) Following PayPal's confirmation of payment from buyer
5) Send 1% of value of transaction to Buyer's wallet address
6) Require buyer to e-mail you upon receipt of the 1%
7) Send the balance 99% of transaction after receipt of confirmation e-mail

Buyer can still institute a chargeback after the 'sale', but I believe
PayPal would side with the seller if the above procedure is followed ..

Any thoughts ??

Triff ..

Could work in some cases. I have done that myself. Buyers will still try to charge back though.

[giletto]

You can try it, and turn it on this way or on that way and do what ever you want over paypal: if the buyers intention who pay with paypal is to defraud you, he can do it with 100% success. No matter what you are doing, send first 1% and then 99%, or sen 50% and 50% or the full amount 100%. If the buyers intention is to defraud you, he can and he will do it within 45 days (paypal amount) or within 180 days (Creditcard payment over paypal)

And paypal will ALWAYS return the money, no exception!

[stex2009]

You can try it, and turn it on this way or on that way and do what ever you want over paypal: if the buyers intention who pay with paypal is to defraud you, he can do it with 100% success. No matter what you are doing, send first 1% and then 99%, or sen 50% and 50% or the full amount 100%. If the buyers intention is to defraud you, he can and he will do it within 45 days (paypal amount) or within 180 days (Creditcard payment over paypal)

And paypal will ALWAYS return the money, no exception!

Completely agree.

[virtualfaqs]

There used to be a way to make sure the funds came from a bank account rather than credit card. I'm not sure if those methods are still around. It's been a long time.

[giletto]

There used to be a way to make sure the funds came from a bank account rather than credit card. I'm not sure if those methods are still around. It's been a long time.

Don't get the point what you mean. With Paypal are only 2 way to pay instant, via fund on your paypal and via credit card. From bank account you can't pay, the payment will me "Pending" until the amount is on your Paypal.

[gump]

Found this thread through a search.

I was recently bitten by PayPal after the sale of BTC.  As the result, they reversed the transaction, and are now after me for a negative balance.

From what I understand, they told the buyer that although no laws were broken, they considered it a currency exchange and they put him in a bind, too.

PayPal seems to be acting as a regulator in a matter that isn't regulated.   Further, eBay being the parent company of PayPal, currently (as of today) allows the sale of LTC and BTC -- I've even bought some a while ago.   A recent interview with PayPal's President, David Marcus, says he doesn't believe Bitcoin is a currency (and it legally is not).

I'm not a lawyer, but there appears to be a lot of potential conflict here.   I would be interested in other's detailed experiences with PayPal in this type of scenario - what happened, how did you resolve it, did you go to court, etc.    Google is rife with legal case data against PayPal and stories of how they try to play the system with their lawyers.


Thanks! (and Happy New Year)

[Rycco]

Is Skrill reversible? Does anyone knows?

[troglodactyl]

Does anyone here use Akimbo?  I confirmed they don't do chargebacks, but I haven't found anyone selling cryptocurrencies for it.  They're also cryptocurrency friendly, unlike Paypal.

https://akimbocard.com/

http://community.akimbocard.com/akimbo/topics/can_akimbo_to_akimbo_transfers_be_contested_or_charged_back

[joenobody211]

Is google wallet considered a safe method? i was considering checking it out if people are willing to accept it

[faiza1990]

Is Skrill reversible? Does anyone knows?

I am using this for last 2 years and have never this issue and I think its not reversible you can use this easily and safely

[faiza1990]

Is google wallet considered a safe method? i was considering checking it out if people are willing to accept it

if its working for all and users can use this easily then its good start and as you do this then post here your feed back for others also

[FireBTC]

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

[KWH]

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

All you have to do is claim you were hacked. Toss in payment via CC and it's a lock you can do a charge back.

[stex2009]

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

Not 100% safe in my experience.

[giletto]

If you make the user send as gift to friends and family with the note "For virtual item I will not charge back." You will win every single PP dispute. That's what I do when buying/selling with PP.

All you have to do is claim you were hacked. Toss in payment via CC and it's a lock you can do a charge back.

Exactly like that, and in this case it dosn't matter what you note, the money will return to the sender account 100% sure.