Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why

[donnyw]

In my case Paypal is quite important, as in our country we dont have many choices of other type of online payment.
There are risk involve, but since 7years of selling services I only encounter 2-3 problems with Paypal, anyhow I believe when it comes to tangible item, or even bitcoin purchase, Paypal posesss mich greater risk.

[1714657807]

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[1714657807]

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[jerethdaminer]

i think it also depends on what your buying selling as to the scam likly hood
bought a tablet pc no problem bought some magic cards never showed up

i do a lot of online shopping for items for people wo have mobility or learning difficulties

[Getawhale]

I was thinking about PayPal and Bitcoin this morning, actually. With Bitcoin becoming very large, and PayPal being a business, I imagined them maybe wanting to somehow support or offer Bitcoins (down the road.)

Regardless of why they are super-against this idea currently (which I can understand), I thought of one main point. If they were to keep the same model they currently use for currency exchanges and transactions, specifically the FEES they impose, they would be at a HUGE competitive disadvantage in the world of Bitcoin. If I can already go to MtGox and transfer USD/BTC without fees, why would I want to go to PayPal and shave them off part of the transaction as a fee?

I am admittedly new and haven't yet converted any BTC to USD, but what are your thoughts on this? Even if it's theoretical.

[Gnegne]

Hi everyone, what about Skrill? Isn't used for the same reasons?
I tried to found some valid site for buying with Skrill but i sucked

[topquark]

It's a shame there isn't a workaround to make paypal-bitcoin transactions safe. I get paid dollars into paypal, and converting into my local currency (GBP) to buy BTC via bank transfer seems very inefficient.

[ande85]

The way I understand things is this: no matter what it is you fool with there is always pros and cons. This is good for some things while at the same time being bad for others...basically you roll the dice, and you take your chances.

[Zeke_Vermillion]

that is how i bought my first btc, but the date was in may 2011. now there are better ways.

[travelhack]

The way I understand things is this: no matter what it is you fool with there is always pros and cons. This is good for some things while at the same time being bad for others...basically you roll the dice, and you take your chances.

exactly. bt seems to be a nice supplement. it isn't a total replacement.

[Bit.Trip]

I don't think people who use Paypal should always be labeled a scammer. There are a lot of ways people have Paypal cash (such as buying or selling other virtual items from other games, lik WoW), and might want to invest in Bitcoin.

[deepbtc]

is there any trust worthy BTC exchange site?

[mckov]

Sure, but most of us are not sitting on piles of cash.  I have been trying to find a way to get some bitcoin for a few weeks now, and it is a royal pain in the rear.  Open up with dwolla, wait for verification....  transfer from bank,.. wait days...  then wait some more.  In that time, I have watched bitcoin go from $70 to $250, and now to $130, I think?   Maybe it is a good thing that I didn't get any yet :-)

[SalehCoder]

Thank you

[ezetortuga]

I have used paypal to send money to secondlife/lindens, and then sent the money from secondlife to virwox and traded the lindens for bitcoins. The fees suck but it's a fast process

[InternetBatman]

I am suprised a trustworthy corporation hasn't picked up bitcoins for mass currency conversion, they would stand to make alot of money if they took a % cut just like real world cash currency converters.

If you have the capital and the trust of the general public as a corporation, bitcoins could be a highly profitable trade item.

[Coincrazy]

I am suprised a trustworthy corporation hasn't picked up bitcoins for mass currency conversion, they would stand to make alot of money if they took a % cut just like real world cash currency converters.

If you have the capital and the trust of the general public as a corporation, bitcoins could be a highly profitable trade item.

pick up at what price ? and sell at what price ? and who takes the loss IF that is massive like the last two days ?

[Shneebly]

Just got through a terrible claim process with Paypal.

1. Person buys your Bitcoin.
2. You deliver bitcoin.
3. OMG OMG MY ACCOUNT WAS HACKED!! (Scammer tries to get ebay/papal to take back your money)

Thankfully, I did win my case, and get the money. But it took a lot of effort and stress, and my funds were suspended for a week and a half. Luckily they acknowledged they received it- without this smoking gun I'm not so sure what would have happened.

Never using Paypal/Ebay again to sell. It's not just me-- this does happen on a frequent basis.

[Coincrazy]

Never using Paypal/Ebay again to sell. It's not just me-- this does happen on a frequent basis.

ok. is there any other online payment site that could be trusted ?

because the international audience is waiting and mt gox (80% exchange) is failing :-(

[cul]

how do I get one of those ratings in my sig?

[tweeeaks]

i hate chargebacks..and no way to get your coin back, so i agree...be careful with paypal

[bitrainbow]

Isn't the risk of buying bitcoins with paypal the same risk as buying anything else with paypal?  What is considered to be the safest way to do this other than going to someone in person and making sure you get the cash in hand?

There is no way of truly confirming delivery of bitcoins.

from what I've read, you do get a confirmation when you receive bit coins. In addition, you can get apps that let you know when your wallet receives bitcoins too. Please correct me if I am wrong, or if you meant something different.