Buying Bitcoin with PayPal?

[satmas]

I just want to clarify something - some services offer PayPal to BTC conversion and you will most likely be able to use PP to purchase BTC that way.
However, PayPal is treating Bitcoin as foreign currency and in their ToS you can find note that using PayPal as a currency exchange is prohibited.
If they somehow discover that you purchased bitcoins with your PayPal your account will be frozen.

Coinbase buys bitcoins from people using Paypal now. Here's an article on that: http://qz.com/713528/paypal-is-warming-up-to-bitcoin/ (there's plenty more articles on this news, including a link to one from epicnpc).

[ipanks]

I just want to clarify something - some services offer PayPal to BTC conversion and you will most likely be able to use PP to purchase BTC that way.
However, PayPal is treating Bitcoin as foreign currency and in their ToS you can find note that using PayPal as a currency exchange is prohibited.
If they somehow discover that you purchased bitcoins with your PayPal your account will be frozen.

i think we can buy bitcoin with localbitcoins, and we transfer our balance on paypal as gift to that seller on localbitcoin, and then the seller send his bitcoin to us. i think its fine on our paypal balance and maybe our account will not get frozen by doing this.

[player514]

I suggest that you stay cautious of buying bitcoin with PayPal, especially from third-party vendors and sites. Only trade with those you know, or coinbase, as has been mentioned here. I would suggest using the currency exchange here or on hackforums, but I know that it offers a way to get scammed, and generally people do not accept PayPal as it is reversible. I would much rather do an exchange in person though, rather than using a vpn, as those can be caught by companies.

[Capradina]

I just want to clarify something - some services offer PayPal to BTC conversion and you will most likely be able to use PP to purchase BTC that way.
However, PayPal is treating Bitcoin as foreign currency and in their ToS you can find note that using PayPal as a currency exchange is prohibited.
If they somehow discover that you purchased bitcoins with your PayPal your account will be frozen.

i think we can buy bitcoin with localbitcoins, and we transfer our balance on paypal as gift to that seller on localbitcoin, and then the seller send his bitcoin to us. i think its fine on our paypal balance and maybe our account will not get frozen by doing this.

Yeah this is all very doable in the localbitcoin. Because within this site we can do transaction bitcoin with multiple payment systems. but it's all going to be a great advantage if we can open an online store based bitcoin so that in the future we can have stores that potential and will get many advantages. Good luck all

[bhadz]

I suggest that you stay cautious of buying bitcoin with PayPal, especially from third-party vendors and sites. Only trade with those you know, or coinbase, as has been mentioned here. I would suggest using the currency exchange here or on hackforums, but I know that it offers a way to get scammed, and generally people do not accept PayPal as it is reversible. I would much rather do an exchange in person though, rather than using a vpn, as those can be caught by companies.

Yeah, I have an incident that paypal is asking for some proofs for buying bitcoin using them. Just like this incident https://bitcointalk.org/index.php?topic=1669085.0
So for me it is better if you are going to moderate using paypal for buying bitcoins.

[Qartersa]

I suggest that you stay cautious of buying bitcoin with PayPal, especially from third-party vendors and sites. Only trade with those you know, or coinbase, as has been mentioned here. I would suggest using the currency exchange here or on hackforums, but I know that it offers a way to get scammed, and generally people do not accept PayPal as it is reversible. I would much rather do an exchange in person though, rather than using a vpn, as those can be caught by companies.

Yeah, I have an incident that paypal is asking for some proofs for buying bitcoin using them. Just like this incident https://bitcointalk.org/index.php?topic=1669085.0
So for me it is better if you are going to moderate using paypal for buying bitcoins.

Well, I think if that would be the case, then a lot of exchanges here on BCT would have closed down because of it. Probably you should just declare it as some sort of online goods. Anybody have an experience doing this?