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Author Topic: Does anyone know of a way to convert PayPal USD to BTC?  (Read 1124 times)
zdmas
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June 12, 2011, 07:16:31 PM
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Hey guys,

I understand this is difficult because of the presence of chargebacks, so I'm willing to do some workarounds if necessary. Does anyone know of a way I could pay for BTC with PayPal USD directly, or indirectly (by converting into some other digital "currency", or whatnot)?

Thanks
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RodeoX
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June 12, 2011, 07:43:34 PM
 #2

I would look for somone trustworthy. There's a thread in discussions that lists traders who have completed transactions without incident. For an indirect method some people convert to dowalla(?). That is sme kind of facebook money. If you have fb.

In any case paypal is becoming harder to trust recently.  Depending on where you live, this may be your safest option.:
http://btcnearme.com/


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June 12, 2011, 07:52:05 PM
 #3

You can buy Linden (Second Life currency) with Paypal, and then convert Linden to BTC-
Heard it is quite quick too but there are some limits to the amounts-

https://www.virwox.com/

Would love to hear the results if you go that route;

BiggieJohn
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June 12, 2011, 07:56:43 PM
 #4

You can buy Linden (Second Life currency) with Paypal, and then convert Linden to BTC-
Heard it is quite quick too but there are some limits to the amounts-

https://www.virwox.com/

Would love to hear the results if you go that route;
I have been using VirWox.  it works, but their market depth isnt so good.
But yes, they are legit, and safe to work with as far as I can tell.

wahtever you DO NOT USE xchange4L$

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MoonShadow
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June 12, 2011, 08:01:19 PM
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Any method of moving funds from Paypal to BTC is dangerous for the person selling BTC.  No honest seller is going to do it without a significant risk premium.  It's possible that you could find bitcoin users in your city, particularly if you live on the East coast of the United States, and trade cash in person.  Or you might be able to find someone on the OTC network via IRC, but that's still risky.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

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DDreez
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June 12, 2011, 08:06:09 PM
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BitMarket.eu has PayPal as a payment option. This site escrows the BTCs and the users transfer the funds via bank transfer (mainly EU residents) or PayPal (worldwide). It's peer to peer so you buy directly from approved users, not from the site itself. I myself have been buying there both with bank transfer and PayPal without problems. However they had a _lot_ of people sign up last week so they actually disabled new signups temporarily for technical purposes. Don't know if it's opened up again now or not. GL
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June 12, 2011, 08:08:03 PM
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Nobody trusts Paypal anymore

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zdmas
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June 12, 2011, 09:32:24 PM
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You can buy Linden (Second Life currency) with Paypal, and then convert Linden to BTC-
Heard it is quite quick too but there are some limits to the amounts-

https://www.virwox.com/

Would love to hear the results if you go that route;

Hmmm this looks good, also supports bitcoin payments, thanks for the tip.

BitMarket.eu has PayPal as a payment option. This site escrows the BTCs and the users transfer the funds via bank transfer (mainly EU residents) or PayPal (worldwide). It's peer to peer so you buy directly from approved users, not from the site itself. I myself have been buying there both with bank transfer and PayPal without problems. However they had a _lot_ of people sign up last week so they actually disabled new signups temporarily for technical purposes. Don't know if it's opened up again now or not. GL

I'll take a look at this too when the signups are reopened.

Thanks for all the help guys.
Crazy
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June 12, 2011, 10:16:53 PM
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There really does need to be a more direct route for acquiring BTC. I don't see this breaking into the mainstream if it requires bank transfers, signing up to several services, 2-3 days waits, etc. It's just entirely inconvenient.
zdmas
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June 13, 2011, 03:19:06 AM
 #10

There really does need to be a more direct route for acquiring BTC. I don't see this breaking into the mainstream if it requires bank transfers, signing up to several services, 2-3 days waits, etc. It's just entirely inconvenient.

I totally agree.

Although, I did use $60 to get 2 BTC via the method outlined above using virwox.com. Currently they are doing manual checking to verify the transaction. I overpaid a lot for these, so it's gonna be a lot harder to make money off this investment, but it works.
forests
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June 13, 2011, 03:41:23 AM
 #11

You can buy Linden (Second Life currency) with Paypal, and then convert Linden to BTC-
Heard it is quite quick too but there are some limits to the amounts-

https://www.virwox.com/

Would love to hear the results if you go that route;


Wow, I thought paypal didn't allow USD->BTC transactions because it was alternative currency... but linden is fine?
zdmas
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June 13, 2011, 05:24:27 AM
 #12

You can buy Linden (Second Life currency) with Paypal, and then convert Linden to BTC-
Heard it is quite quick too but there are some limits to the amounts-

https://www.virwox.com/

Would love to hear the results if you go that route;


Wow, I thought paypal didn't allow USD->BTC transactions because it was alternative currency... but linden is fine?

Well Linden is actually approved by the government, or something along those lines.
sirj
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June 13, 2011, 05:26:31 AM
 #13

There are groups that turn paypal in to Liberty Reserve, which can then be turned into Mt. Gox, for purchasing BTC.

Or just look around for someone selling BTC, someone's sure to accept paypal.
Alik
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June 13, 2011, 06:55:42 AM
 #14

I think you can at bitcoinexchange.cc
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June 13, 2011, 09:33:06 AM
 #15

FYI,

VirWoX registrations are now open again.

Andrew
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