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Author Topic: What Is the Best Way for Me to Exchange?  (Read 519 times)
AlQaeda
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October 17, 2016, 08:37:18 PM
 #1

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?
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pedrog
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October 18, 2016, 10:13:16 AM
 #2

You don't have to sign anything, when someone whats to buy bitcoin you need to send it first and there's your proof.

BTW, bitcoin sells are not covered by Paypal Seller Protection so you need to trust the buyer to not request a refund.

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October 18, 2016, 10:27:00 AM
 #3

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?
first of all i will suggest you don't make start to deal with paypal because of its reverse quality someone can scam .
secondly if your marginal calculation are right to make deal also from lbc then you can do .

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abayan
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October 18, 2016, 11:02:48 AM
 #4

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?
first of all i will suggest you don't make start to deal with paypal because of its reverse quality someone can scam .
secondly if your marginal calculation are right to make deal also from lbc then you can do .

well it will not matter what is the payment method is the thing is in your decision if you send it or not, you send it because you are trusting him/her or not. But i advice use the middle man something escrow so that no one can scam except the escrow but that ain't gonna happen.

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Jannn
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October 18, 2016, 11:18:13 AM
 #5

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?
Trading with your name? Buyer can get serious money laundering and terrorism charges.
takingthis4
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October 18, 2016, 02:51:50 PM
 #6

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?

Yo be secured you should use middleman every time, they don't cost a lot actuallly so it is good idea to use one, and also your plan is risky as buyer can get his money back from paypal
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October 18, 2016, 05:13:25 PM
 #7

Escrow builds the trust bridge between seller and buyer. It is always recommended to have qualified escrow for moderate transactions.

And usually it is easy to scam with PayPal for bitcoins as it is not included in buyer protection. I would recommend to have an escrow.
beerlover
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October 20, 2016, 07:31:20 AM
 #8

You don't have to sign anything, when someone whats to buy bitcoin you need to send it first and there's your proof.

BTW, bitcoin sells are not covered by Paypal Seller Protection so you need to trust the buyer to not request a refund.
Yes, the buyer should first send the money to him because when he sends bitcoin to them first the transaction is not reversable but if they send the paypal money to you the transaction is reversable. In fact if he intends to do that kind of business he needs to properly put himself in the right condition, transaction with paypal can be very risky at times.

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October 20, 2016, 08:07:17 AM
 #9

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?

when you are buying from localbitcoins you are already buying bitcoin over-priced so this means  if you want to make 20% profit you have to sell for a much bigger price meaning it can be even about 30-40% higher than the current price on exchanges and I doubt that anybody would be willing to pay that much unless they plan on charge back in paypal.

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Catmony
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October 20, 2016, 08:08:12 AM
 #10

Selling bitcoin for paypal like reversible payment gateway is highly risky so yes for your better protection against charge back you need to use escrow in middle always. I don't know any platform where you can simply sell bitcoin for paypal with higher price and don't think any such platform exist.
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October 22, 2016, 05:17:39 AM
 #11

I want to sell BTC for Paypal with a 20% margin so I can make a profit buying from LocalBitcoins then selling for PayPal and withdrawing.

My first idea was to sign a message with the BTC address to prove I have the funds, but is this good enough? Will it be necessary every time for me to use a middle man? Are there any alternatives?

The things that you are going to do by selling your coins to paypal was too risky actually. I think you ask some other of the member in this forum I'm not quite familiar in paypal transaction.
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October 22, 2016, 05:31:19 AM
 #12

There is always risk associated with paypal transactions so anytime transactions are reversible and that is possible even after several weeks. I think escrow is a good option and you can hire an escrow for free I can say monbux was the best escrow experience I ever had, so you can try that option. You can go with paypal but you should take extreme precaution since you are on a sellers side which is not protected by paypal in the case of bitcoin deals.
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