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Author Topic: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why  (Read 27809 times)
Boelens
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April 03, 2013, 04:34:45 PM
 #41

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

Will check this out!
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Tomatocage
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April 03, 2013, 07:58:24 PM
 #42

As a general rule of thumb never EVER deal with anybody with a forum account less than 6 months old.  You WILL get scammed eventually... it's not even a matter of "if".

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April 03, 2013, 08:05:58 PM
 #43

You WILL get scammed eventually... it's not even a matter of "if".

That's a little harsh, if you play it safe you won't.  I haven't been scammed.
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April 03, 2013, 09:09:05 PM
 #44

Anyone know if there is a time limit PayPal user can attempt to reverse a transaction?

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April 03, 2013, 09:25:37 PM
 #45

informative stuff i didn't know about this
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April 03, 2013, 09:59:31 PM
 #46

You WILL get scammed eventually... it's not even a matter of "if".

That's a little harsh, if you play it safe you won't.  I haven't been scammed.

And I've been on the forums for < 6 mos, and I won't scam anyone.  But then, I don't expect to be believed, either.  Be careful out there.

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April 03, 2013, 10:35:06 PM
 #47

Could escrow services help this?
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April 03, 2013, 11:13:40 PM
 #48

Could escrow services help this?

Unlikely, transactions through escrow could still be reversed.
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April 04, 2013, 02:43:56 AM
 #49

The way that I see it is the next big gold rush in the BTC economy is no longer to directly acquire coins or mine them, but to create useful, quick, and transparent services that will facilitate these transactions.  I am very excited to see what is to come about the current race to create the first BTC credit card Grin

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April 04, 2013, 06:19:17 AM
 #50

I am very excited to see what is to come about the current race to create the first BTC credit card Grin

Nothing more fun than a credit line on a booming currency lol
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April 04, 2013, 10:04:30 AM
 #51

Thanks a lot for this post, I was considering using PayPal to buy some bitcoins but now that I've read this, I've been reminded when I sold my WOW account for like $800 via PayPal...and got scammed. You are completely right, PayPal is weak, and I've got fresh memories of why I hate it.
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April 04, 2013, 11:42:52 AM
 #52

Was a victim to Paypal fraud last year. It's a real bummer. And Paypal suck at resolving such issues.

Glad to see Bitcoin users are being proactive and not getting tangled in such a mess (Paypal)
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April 04, 2013, 03:14:55 PM
 #53

Yea, have to agree about Paypal.  They act without any investigation up front.  This is really not that big of a deal if you are talking about sub hundred transactions, but when you start dealing in 1000s, it is a mess.  I avoid whenever I can.

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April 04, 2013, 03:15:21 PM
 #54

I have a question:  I can see the PP issue, but what is your opinion on this particular situation?  

An Ebay seller has up for bid his early 60gh BFL Single order.  Very early supposedly.  He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction.  I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day).  This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.

He turned this down and said only BTC.  So I asked "How many BTC?"  Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).

Now I feel like this is a scam.  Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct?  And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible?  Do I sound paranoid or reasonably suspicious?
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April 04, 2013, 04:41:28 PM
 #55

Paypal has the reslove issue where you can report and get a refund unlike bitcoin.
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April 04, 2013, 04:42:30 PM
 #56

I have a question:  I can see the PP issue, but what is your opinion on this particular situation?  

An Ebay seller has up for bid his early 60gh BFL Single order.  Very early supposedly.  He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction.  I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day).  This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.

He turned this down and said only BTC.  So I asked "How many BTC?"  Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).

Now I feel like this is a scam.  Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct?  And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible?  Do I sound paranoid or reasonably suspicious?
Reasonably suspicious. Don't do it, it's probably a scam.

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April 04, 2013, 05:24:40 PM
 #57

I have a question:  I can see the PP issue, but what is your opinion on this particular situation?  

An Ebay seller has up for bid his early 60gh BFL Single order.  Very early supposedly.  He specified that PP or any other pmt than BTC would require prior permission AND that he would be willing to accept a good offer to take down the auction.  I contacted him and offered a bank-wire of $8500 (about midway between the various comparable closings that day).  This wire wouldn't require that he provide me his banking info, just a Cell# or email to give my bank, which then sends him withdrawal instructions.

He turned this down and said only BTC.  So I asked "How many BTC?"  Naturally I am expecting a number commensurate with at least 8500 USD in BTC but he sends back a request for 40 (or ~5500 USD as of that time).

Now I feel like this is a scam.  Why would a bank wire not be acceptable for an item that he won't even possess until long after the funds have appeared in his acct?  And am I not on the completely scammable and helpless end of the transaction now if I send BTC as that is completely irreversible?  Do I sound paranoid or reasonably suspicious?
Reasonably suspicious. Don't do it, it's probably a scam.

Yeah, I just found that he previously completed an auction on the same unit and turned down the buyer at a price of $21,000 because it wouldn't be BTC.  Seems legit.
Samson5
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April 04, 2013, 06:12:31 PM
 #58

Paypal is such a ripoff. Blow up the datacenters!
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April 04, 2013, 06:36:49 PM
 #59

Paypal is such a ripoff. Blow up the datacenters!

I agree that there are a lot better routes to go than PayPal, but I am one who likes options. PayPal is just another option which can be very useful and safe when used right.
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April 04, 2013, 06:57:49 PM
 #60

So what makes Paypal any different from Dwolla or Stripe?
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