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May 19, 2013, 03:45:34 AM |
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*I safely used this method (which I even posted as a way to sell bitcoins on ebay safely-don't worry, I have edited) for COUNTLESS bitcoin transactions on ebay, not a problem once.*
I wanted to write up this guide, but wasn't sure where to put it. I decided here since it offers instruction, and I know not just newbie members check this board.
Anyways, I want to share with you a completely safe way to sell bitcoins on eBay. eBay and PayPal are covered in an aura of taboo in the bitcoin world. That's because-obviously-scammers use those methods to steal from you. And, both PayPal and eBay like the customer, so if you sell bitcoins for PayPal, you get back a nice fat chargeback.
The problem with selling bitcoins on eBay or for PayPal, by strictly sending them electronically is that there is no physical aspect involved. THAT is why PayPal sides with the buyer-they aren't used to selling digital goods, just tangible things. If you sell Bitcoins for PayPal, on eBay or elsewhere, you thus have to have something tangible involved-and if it has tracking, its virtually impossible to get a chargeback.
I have sold a lot of bitcoins on eBay. This is the way I do it: I simply print out a bitcoin bill (go to bitaddress.org, hit "bulk wallet" and under "generate", put the number of keypairs you would like made. 1 bitcoin bill=1 keypair. Then, go to printcoins.com, hit "print your own" and fill in the initial fields with whatever you want-they're just for fun-I put "Bank of Johnniewalker". In the big dialog box, copy and paste the entire keypair from bitaddress.org. Pick a design, then hit "Generate PDF of bills". If you have thicker paper, customers would be more impressed, but if not don't worry, just print the bill.)
NOW you have something tangible. If you sell through eBay, you can mail w/tracking for $1.69.
You tell the customer that once the bill is made, you destroy all data pertaining to it (and you do-don't be a scammer). Thus, once they receive the bitcoin bill (still it has 0 balance) they need to send you a message with the public address of the bill. Once they give it to you, send the funds to the address, go to blockchain.info, enter the public address, and take a screenshot for confirmation of funds sent.
.....aaaaaaand you're done!
After more than 50 (I counted) transactions involving bitcoins, PayPal has restricted my account, saying that their services cannot be used for currency exchange, check cashing, bitcoins and EVEN Bitcoin COLLECTIBLES (like a redeemed Casascius coin). I am fighting this because, for one thing, the restriction on collectibles is ABSOLUTELY ridiculous. Also, they say they do not allow their services to be used as currency exchanges. Well, all US currency ever produced is STILL legal tender (as is the case with other countries' currency, too). You know how many listings there are for say, Silver Eagles? With a LEGAL TENDER amount of $1? I could buy that with Euros if I wanted to. If thats not a currency exchange, what is it?
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