BTCe > PayPal = fees = 11.2%

[Twerka]

I create this post to let you know what happens when you withdraw money from BTCe using PayPal.

BTCe has a fee of 6% when you ask for a withdraw to PayPal, minimum payout is U$S 250, and they send the payment in less than 48hs.

EXAMPLE; you withdraw $250, and they will send you $235

They send the payment not as a direct PayPal to PayPal account, but as a buyer (or maybe using a credit card, not PayPal money), so PayPal take the transaction as a BUY/SELL, and take from you the merchant Fees.

PayPal receive the $235, and tell you the "buyer data" (delivery address, etc). And take from you 5.4% + $0.30.

EXAMPLE; $235 will be $222.01 after the fees.


FINAL RESULT = You withdraw U$S 250.00, get U$S 222.01, TOTAL 11.2% of fees (aprox.)


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I you ever tried "TURBOSQUID" website, they send the payment with direct PayPal account transaction, so fee is ZERO if you have a personal account.

I sent BTCe a ticket asking if this is a mistake or if they always send the payment in that way (making PayPal withdraw unrealiable), but they closed it without answer.

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[mr.n00blar]

The fees really suck.. It's so convenient though. What the next best option for converting btc into usd outside of an exchange?

[cptmooseinc]

Search for cptmooseinc BTC-e and find my thread. Much cheaper option. ^_^