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Author Topic: PayPal to Dwolla ?  (Read 1314 times)
Houdini
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June 20, 2011, 08:09:27 PM
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Would anyone here be willing to act as an intermediary for me and pay funds from Dwolla to my TradeHill account, while I'd pay that person with PayPal, including a 5% reward (on top of PayPal's fees) ?
I was thinking we do the process in 10 steps (one tenth each time) for the safety of both sides, since both payments are instantaneous we should be done in 5 minutes...
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June 20, 2011, 08:12:28 PM
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Please give a little more detail. Thanks







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June 20, 2011, 08:51:10 PM
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I just talked to the Dwolla customer service and asked them if there was any way of funding a Dwolla account with PayPal and they said no. Just in case anyone else was wondering.


Please give a little more detail. Thanks
Well here goes.
First off the sum is large enough that the 5 % would be worth your time.
Secondly I'm probably protected by PayPal but I'd still prefer it if you had some kind of verifiable reputation or witness to your honest trading history.
Third, I'm not even sure if anyone else can deposit dollars in my TradeHill account via their Dwolla account ? Maybe that would be only possible if you created one for me, filled it up, and gave me the access codes, I just don't know.
The reason I need Dwolla because it's the only (practical) way to get into TradeHill with dollars. I can also get in with BTC, but I'd have to buy them on BitMarket.eu, and prices there are usually higher lately.
Finally, if this is possible and we come to some kind of arrangement we might repeat this again (with the 5% reward) but in just one transaction (once we have each other's trust).
Alternatively, I'd buy BTC from anyone selling them at decent TradeHill prices (let's say slightly under the highest bid price) with PayPal, provided we can find some kind of escrow service for both parties safety... The problem with this scheme is I can't exactly buy at a moment's notice whenever I decide to (and I want to buy when BTC are at their lowest).
Btw, this could be a good idea for a business. Think about it :
1. Most bitcoin exchanges require Dwolla for deposits and withdrawals (or BTC of course)
2. Most of the world doesn't have Dwolla but has PayPal
3. Someone taking PayPal payments and selling filled-up Dwolla accounts for a profit would not just earn money but also do a double service to the trading community :
4. The people buying or selling BTC with PayPal no longer trade directly with BTC so they're not in danger of having their accounts frozen (unless Dwolla is illegal for PayPal too ?)
5. The exchange markets are relieved of the risk of buyer fraud by PayPal chargeback, the PayPal / Dwolla exchanger assumes that risk, and mitigates it based on some kind of verification procedure (BitMarket uses eBay verification) or web of trust.
Please anyone comment what you think about this idea...
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