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Author Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why  (Read 27810 times)
virtualmaster
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April 02, 2013, 10:07:18 AM
 #21

You should accept paypal for bitcoin only from a friend or from somebody who you can trust.

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Lieutenant_Bob
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April 02, 2013, 10:31:32 AM
 #22

How about accepting Credit Cards? Does that not hold the same inherent fault.

My question is: Can a credit card transaction be reversed the same way that a PayPal transaction can?


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April 02, 2013, 12:55:11 PM
 #23

How about accepting Credit Cards? Does that not hold the same inherent fault.

My question is: Can a credit card transaction be reversed the same way that a PayPal transaction can?

Yes, of course. You only need to call the credit card company and dispute the charge, even simply saying that you were unsatisfied with the purchase. The business is charged a $25 in addition to having their money taken back, has to file paperwork if they want to dispute the chargeback, and too many chargebacks and the credit card company may "review" the merchant agreement.

Credit cards also have the flaw that in order to use them, you must provide an internet site the exact information needed to also create fraudulent purchases. If someone merely copies a 16-digit CC number, they can impersonate the owner and create bogus PayPal payments. Hacks and data leaks of corporate web sites typically involve thousands of credit card numbers and owner details, and criminals gangs in lawless countries look for ways to turn this information into money.

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April 02, 2013, 01:48:41 PM
 #24

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.

You could confirm ownership of an address.
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April 02, 2013, 02:09:17 PM
 #25

What if i send payment first, as gift ?
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April 02, 2013, 02:22:15 PM
 #26

We all need to agree, paypal is the way of the past and we a Bitcoin members will not and should not accept paypal/cash as it is devil Smiley  In Bitcoin we trust!

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April 02, 2013, 02:34:48 PM
 #27

You should accept paypal for bitcoin only from a friend or from somebody who you can trust.

This.

BTW we have bought over 275,000 BTC and have no open complaints. Smiley
https://fastcash4bitcoins.com

Obviously a scammer will probably offer a better rate, then again we actually pay!
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April 02, 2013, 03:07:10 PM
 #28

So why not have an exchange that ONLY does Bitcoin->Paypal? If you have a verified PP account you're going to have a bank so PP->BC is a moot point. The BC exchange would only need to pay out money they already have [in BC].

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navin306
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April 02, 2013, 03:11:01 PM
 #29

What about gift paypal paments? Quick easy no seller commision and unreversible
When these payments are sent to you from an account that has been hacked into and the original owner complains, or the payment is funded with a stolen or disputed credit card, you'll find out quickly how reversible PayPal is. PayPal isn't going to be left holding the bag, they pass their fraud losses on to you.

them bastads! thanks for the info
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April 02, 2013, 03:32:47 PM
 #30

thanks for advice  Wink
Ghostdog
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April 02, 2013, 04:56:07 PM
 #31

Paypal is not safe at all.

Not for buying also.

They will not cancel if the bitcoins are not sent.

They tried to crack the reality (http://www.woodmann.com/fravia/realicra.htm)
Always remember that you are absolutely unique. Just like everyone else.
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April 02, 2013, 05:02:22 PM
 #32

How about accepting Credit Cards? Does that not hold the same inherent fault.

My question is: Can a credit card transaction be reversed the same way that a PayPal transaction can?

Yes, of course. You only need to call the credit card company and dispute the charge, even simply saying that you were unsatisfied with the purchase. The business is charged a $25 in addition to having their money taken back, has to file paperwork if they want to dispute the chargeback, and too many chargebacks and the credit card company may "review" the merchant agreement.

Credit cards also have the flaw that in order to use them, you must provide an internet site the exact information needed to also create fraudulent purchases. If someone merely copies a 16-digit CC number, they can impersonate the owner and create bogus PayPal payments. Hacks and data leaks of corporate web sites typically involve thousands of credit card numbers and owner details, and criminals gangs in lawless countries look for ways to turn this information into money.

Yes.  Also, many customers will claim there were missing items in the package - I bet some customers ALWAYS make sure they get more than they pay for.  That is why we weigh every package we send out, so when they say there are missing items we know for sure they are lying.
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April 02, 2013, 08:58:19 PM
 #33

What about gift paypal paments? Quick easy no seller commision and unreversible
When these payments are sent to you from an account that has been hacked into and the original owner complains, or the payment is funded with a stolen or disputed credit card, you'll find out quickly how reversible PayPal is. PayPal isn't going to be left holding the bag, they pass their fraud losses on to you.



As far as I know, if you open and close a dispute, it is not possible for the sender of paypal money to take it back.
Because paypal only allows one dispute per transaction.


In most of the internet websites, they request you to send the money by paypal first, then open a dispute and close it. And finally, they will give you what you wanted to buy.
But still, they can scam you and never send it Tongue But you won't be able to scam at all.
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April 03, 2013, 06:25:50 AM
 #34

Thanks for the info.  It's disappointing because being able to use PayPal would make getting bitcoins a lot easier.  Undecided

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April 03, 2013, 01:54:36 PM
 #35

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.
paraipan
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April 03, 2013, 01:55:25 PM
 #36

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.

Try on Virwox.com

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
Boelens
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April 03, 2013, 03:51:43 PM
 #37

This is really annoying as my only ways of payment are either Paypal,Creditcard or bank transfer(however outside the Netherlands this is quite expensive with fees), or meeting someone however he'd need to be close to Leeuwarden. Is it safe to offer payment in things such as a paysafecard? Seeing as you buy these retail, send the code, they can use it, and you get BTC.

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.

Try on Virwox.com

Is this site safe? Basically I just buy the amount in Linden dollars (SL currency), and trade those on that site for bitcoins?
paraipan
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April 03, 2013, 04:17:47 PM
 #38

This is really annoying as my only ways of payment are either Paypal,Creditcard or bank transfer(however outside the Netherlands this is quite expensive with fees), or meeting someone however he'd need to be close to Leeuwarden. Is it safe to offer payment in things such as a paysafecard? Seeing as you buy these retail, send the code, they can use it, and you get BTC.

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.

Try on Virwox.com

Is this site safe? Basically I just buy the amount in Linden dollars (SL currency), and trade those on that site for bitcoins?

Yes and yes to both of your questions. Please note you can only buy whole bitcoins, and btw, don't freak out if they leave you withdrawal request pending for max 48h, is their safeguard against paypal troublemakers.

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
Boelens
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April 03, 2013, 04:18:44 PM
 #39

This is really annoying as my only ways of payment are either Paypal,Creditcard or bank transfer(however outside the Netherlands this is quite expensive with fees), or meeting someone however he'd need to be close to Leeuwarden. Is it safe to offer payment in things such as a paysafecard? Seeing as you buy these retail, send the code, they can use it, and you get BTC.

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.

Try on Virwox.com

Is this site safe? Basically I just buy the amount in Linden dollars (SL currency), and trade those on that site for bitcoins?

Yes and yes to both of your questions. Please note you can only buy whole bitcoins, btw, don't freak out if they leave you withdrawal request pending for 48h max, is their safeguard against paypal troublemakers.

Oh, that sucks. I don't have the money for a whole BTC :/.
paraipan
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April 03, 2013, 04:20:20 PM
 #40

This is really annoying as my only ways of payment are either Paypal,Creditcard or bank transfer(however outside the Netherlands this is quite expensive with fees), or meeting someone however he'd need to be close to Leeuwarden. Is it safe to offer payment in things such as a paysafecard? Seeing as you buy these retail, send the code, they can use it, and you get BTC.

On the other hand, does anyone know of any places that sells BTC and accepts paypal?
I see a logo on BTC-E, that i can adds fund by paypal, but doesn't seem to be working atm.

Try on Virwox.com

Is this site safe? Basically I just buy the amount in Linden dollars (SL currency), and trade those on that site for bitcoins?

Yes and yes to both of your questions. Please note you can only buy whole bitcoins, btw, don't freak out if they leave you withdrawal request pending for 48h max, is their safeguard against paypal troublemakers.

Oh, that sucks. I don't have the money for a whole BTC :/.

Try it out and report back, because this was the rule a year ago. I didn't even note how the time passed by  Smiley

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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