Newbie with few important questions!

[orgut]

Hi
I`m considering using bitcoin but I heard some things that make me think otherwise and I want to know a few things before starting!
I`m getting money on paypal and I`d like to transfer this money to bitcoin in order to transfer it to Neteller:
1. Are there always people who will buy my money from paypal for bitcoins?
2. Are there always people who will buy bitcoins for Neteller?
3. I heard people hack wallets - What is the best way to avoid it and how safe is it?

P.S - All transactions occur in USD currency!

Hope you can answer this for me

[1714130244]

1714130244

[1714130244]

1714130244

[NorrisK]

Paypal has been giving some trouble for some people regarding bitcoin in the past. Be careful with that.

As far as point 3 goes: Hacking is a major problem as everything happens on your computer and can potentially be compromised. Best way to avoid it is to use common sense (don't download suspicious files/emails/etc) to avoid virusses and trojans. Also, run a good virus scanner and firewall. Try to avoid having large amounts on your online machine, so you don't lose a lot if it gets compromised.

Finally, a hardware wallet like trezor will help a lot in securing your coins. It is expensive though, so not for everybody.

[ajaxmoor]

Addressing each question one at a time.
1. Yes, look into the Currency Exchange section or Localbitcoins site to find traders who would trade bitcoin for paypal.
2. Same as 1. Localbitcoins preferred for this.
3. Back up your wallet in the beginning, and then don't connect that wallet to an infected pc. Simply just create a paper wallet on a non-infected pc.

[achow101]

Hi
I`m considering using bitcoin but I heard some things that make me think otherwise and I want to know a few things before starting!
I`m getting money on paypal and I`d like to transfer this money to bitcoin in order to transfer it to Neteller:
1. Are there always people who will buy my money from paypal for bitcoins?
2. Are there always people who will buy bitcoins for Neteller?

There will usually be many people who are willing to exchange paypal or neteller for Bitcoin. However, in most cases, you need to be trusted because PayPal and Neteller are reversible. Also, you will usually end up paying a high premium due to the risk that the seller takes by exchanging Bitcoin for something reversible.

3. I heard people hack wallets - What is the best way to avoid it and how safe is it?

It is actually hard to hack a wallet. Never use a web wallet; many times those websites have poor security practices and end up being hacked and the Bitcoin stolen, or they run away with your Bitcoin, or the service is just plain bad (e.g. blockchain.info).

If you have a hot wallet (a wallet that is on a computer connected to an internet), make sure that you keep the wallet software up to date, keep your operating system up to date, have an antivirus software, and use different strong passwords for your computer and your wallet. Always encrypt your wallet.

If you have a cold wallet (a wallet on a computer not connected to the internet, recommended), make sure that the computer you have the cold wallet on is clean of any viruses, and that you plan on never connecting that computer to the internet ever again.

Also make periodic backups and keep them in a secure, offline place.

[JayLetterman]

3. I heard people hack wallets - What is the best way to avoid it and how safe is it?

Best way to safeguard your btc as well as all other valuable stuff that's on your computer, is to switch from Windows to Linux. Most malware is written for Windows because of the market share (and because it's the most vulnerable OS), so by not using Windows you greatly minimize the attack surface (even without taking any additional protective measures). Other things to consider doign (especially if on Windows) is to uninstall/disable java and flash.

[coinsocieties]

Whatever you do, do not use PAYPAL to get your bitcoin.  Most people will charge you a fee for taking paypal in exchange for bitcoin.  If you want to do anything get a wallet which will accept an account for you to transfer money from your bank account to buy your bitcoin.  Just my opinion.

[helloeverybody]

Whatever you do, do not use PAYPAL to get your bitcoin.  Most people will charge you a fee for taking paypal in exchange for bitcoin.  If you want to do anything get a wallet which will accept an account for you to transfer money from your bank account to buy your bitcoin.  Just my opinion.

To be fair its much safer buying btc with paypal than selling it as long as you use an escrow . Sending as a gift will not allow you to get your money back should the other party decide not to send your bitcoin.

As for the wallets, like has been said dont use online wallets or exchanges because if they get hacked or decide to run off with your money then theres nothing you can do. Keep your own wallet fro example a bitcoin node or mycelium for your phone or even better for long term storage a paper wallet.

[nullable]

wow, thanks for the information

[Digitalbitcoin]

Hi
I`m considering using bitcoin but I heard some things that make me think otherwise and I want to know a few things before starting!
I`m getting money on paypal and I`d like to transfer this money to bitcoin in order to transfer it to Neteller:
1. Are there always people who will buy my money from paypal for bitcoins?
2. Are there always people who will buy bitcoins for Neteller?
3. I heard people hack wallets - What is the best way to avoid it and how safe is it?

P.S - All transactions occur in USD currency!

Hope you can answer this for me

Well there are best platform that can support any of payment method to choose to accept payment for exchange of bitcoins. Rather you can check or search for exchanger who provide services to accept Paypal and Netteler.
 or you can go for P2p service as Localbitcoins where you can find person who want to make deal with preferred currency.

Now About Wallet. Wallet is itself safe but there are some backdoors. So always have to be preventive by taking backup of wallets and keep them safe and secure place. Even can use paper wallet as master wallet.

[Sharky444]

I would not use Paypal in connection with Bitcoin. They will ban your account quickly.