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

[cheapinkc]

Yeah, I wouldn't touch paypal with a 10 foot pole either buying or selling bit coins. 

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[cortas]

just don't trade with unregistered guys (+always send your money to other PP acc) and newbie bitcoin traders like me 

[earthwormjim1]

paypal has been on it's way out for a long time.  In my opinion as soon as they started to put freezes of up to 21 days on payments on behalf of sites like ebay to protect buyers they became useless.

[DavidT]

always tricky, but same here, no paypal - bitcoins for me

[Coincrazy]

paypal has been on it's way out for a long time.  In my opinion as soon as they started to put freezes of up to 21 days on payments on behalf of sites like ebay to protect buyers they became useless.

fine paypal is bad. then could you please advise while electronic payment is  good ?

there is an expectant community waiting to buy bitcoins

the exchanges are broken

there is money to be made IF the payment hurdle is crossed

NOT all buyers are scammers

I am NOT a scammer

[bitRaptor]

Love it or hate it, PayPal is pretty damn convenient and this means it's not going anywhere for now.

Conversely, getting BTC is pretty inconvenient in comparison, and until this changes PP will continue to dominate the online payment industry.

[rpm]

Well, one hurdle for newbies like me who are just getting into the cryptocurrency game; the quickest way to send money (otc on irc) and get BTC is to use paypal.

The exchanges usually takes at least 1-2 business days to get your cash in the accounts.

[BigBitz]

Reading through is examples of scamming etc. This is unfortunately intrinsic to the online world. I guess we can't ever really verify what's going on.

On that note, though, I would like to buy some BTC using PayPal and would be happy to go through an Escrow with someone [ with a good rating/rep on here ] to participate as the Escrow. I think using PayPal Gift makes it impossible for a chargeback to occur?

If someone can help with this I would be interested in trading. I am new to BTC and have, currently, about 0,005BTC so not enough to be worthwhile of anything.

[nick7]

On that note, though, I would like to buy some BTC using PayPal and would be happy to go through an Escrow with someone [ with a good rating/rep on here ] to participate as the Escrow. I think using PayPal Gift makes it impossible for a chargeback to occur?

I think you're confused. A chargeback is a forcible return of funds to the customer. Since you're the one sending the money as payment for coins, you'd be the one to issue a chargeback. The person selling the coins is the one who has to be cautious.

Also, a chargeback can occur even if the money is sent as "gift". For example, if the funds came from a linked credit card instead of your PayPal balance, the issuing bank can issue a chargeback.

[nick7]

Well, one hurdle for newbies like me who are just getting into the cryptocurrency game; the quickest way to send money (otc on irc) and get BTC is to use paypal.

The exchanges usually takes at least 1-2 business days to get your cash in the accounts.

And if you're in a country that's not the US or in Europe, it's even more difficult, the fees are even higher, and it can take over a week. To buy BTC I could either submit a bunch of private information to the exchange (yeah, that sounds like a good idea) that will take over a week to authenticate AND pay exorbitent international transfer fees ($30 per transfer) that can take up to seven days to transfer, or I could be charged a 25 - 40% premium to buy "locally" in my local currency, or I could build reputation on http://bitcoin-otc.com and use PayPal to buy instantly.

PayPal is a fucking maggot pile, but it's so convenient.

[Coincrazy]

Well, one hurdle for newbies like me who are just getting into the cryptocurrency game; the quickest way to send money (otc on irc) and get BTC is to use paypal.

The exchanges usually takes at least 1-2 business days to get your cash in the accounts.

And if you're in a country that's not the US or in Europe, it's even more difficult, the fees are even higher, and it can take over a week. To buy BTC I could either submit a bunch of private information to the exchange (yeah, that sounds like a good idea) that will take over a week to authenticate AND pay exorbitent international transfer fees ($30 per transfer) that can take up to seven days to transfer, or I could be charged a 25 - 40% premium to buy "locally" in my local currency, or I could build reputation on http://bitcoin-otc.com and use PayPal to buy instantly.

PayPal is a fucking maggot pile, but it's so convenient.

agree 100%

I just said 100% because anything more than that would be objected to by the mathematicians here !! :-)

agree ...agree....agree....

and the sad part is that people here haven't understood what a beautiful market that is waiting to BUY from them ....IF they cross this payment hurdle / trust


regards

[LacSplashdo]

Is there any way to buy BTC for PayPal and be secure as a seller? Like buying some item/gift card/voucher with PayPal and exchange that item instead?

[JohnDoe4]

Is there any way to buy BTC for PayPal and be secure as a seller? Like buying some item/gift card/voucher with PayPal and exchange that item instead?

Yeah, I mean you could theoretically use PayPal to purchase something like an Amazon gift card (or, maybe, a Visa/MC prepaid card), and trade that for BTC. But you will end up paying for fees and what not.

The real problem with PayPal is not sending money, it is accepting money. Because PayPal has a notorious history for seizing large accounts and refusing to return the money to it's rightful owner. There's nothing you can do in that situation as PayPal is not a bank in that it's not regulated and, thus, not FDIC insured.

[mightyb]

Not only you can get scammed, you are also likely to get your PP account shut down. They really don't like bitcoins. My partner sold somebody BTC and the buyer mentioned he was sending payment for BTC in PP subject. Got his account blocked that same day.

[BarryB]

If this is the fault of Bitcoin, it is because Bitcoin is too good.

Easy now.... too much hype isn't a good thing.

[crayfish]

Where do I find cheap bitcoins? Most people are selling it super overpriced much more than the market value

[dropde4d]

i was just about to buy some bitcoins with paypal when i came across this.
i guess i have to look for alternatives.

[markymark]

Love it or hate it, PayPal is pretty damn convenient and this means it's not going anywhere for now.

Conversely, getting BTC is pretty inconvenient in comparison, and until this changes PP will continue to dominate the online payment industry.

Exactly. Plus bitcoin transactions can't be disputed. That's great if you're a merchant or a criminal, but if you are the poor slob who had your BTC stolen (or the merchant didn't deliver after you paid) you have no recourse.

At least a credit card company will help you get your money back if you get taken for a ride by a shady merchant.

[Coincrazy]

Love it or hate it, PayPal is pretty damn convenient and this means it's not going anywhere for now.

Conversely, getting BTC is pretty inconvenient in comparison, and until this changes PP will continue to dominate the online payment industry.

Exactly. Plus bitcoin transactions can't be disputed. That's great if you're a merchant or a criminal, but if you are the poor slob who had your BTC stolen (or the merchant didn't deliver after you paid) you have no recourse.

At least a credit card company will help you get your money back if you get taken for a ride by a shady merchant.

never thought of it this way ...hmmm...

[toddtervy]

Too bad, PayPal seems pretty fast.