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Author Topic: CoinPal beta - Buying bitcoins with PayPal  (Read 144079 times)
mndrix
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October 27, 2011, 07:32:13 PM
 #381

I thought Google Checkout was friendly to digital currency?

It's always a little hard to tell how the ToS will be interpreted.  Google says they prohibit "wholesale currency" transactions which includes "currency exchanges."  I don't know whether Google's legal department considers Bitcoin a currency.
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October 31, 2011, 02:25:01 AM
 #382

I thought Google Checkout was friendly to digital currency?

Not at all.

Months ago, I ran the Bitcoin Store, which sold bitcoins in return for Liberty Reserve / GlobalDigitalPay / etc.  Tried to add Google Checkout, and was explicitly denied within 24 hours of adding G.C. to my site.  When bitcoins were explained to Google, they pointed me to the "no digital currencies" portion of their ToS.


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November 09, 2011, 08:39:46 AM
 #383

I run btcnow.net, and after months of fighting with google checkout (got my IPN code working tonight), I'm taking my chances with paypal (with some major restrictions).  It will be a good test to see if they are still hostile towards bitcoin.  I operated fine on checkout for a while, but once one jackass got it in their head that it was some sort of criminal scam, they banned my account, and hunted down any new ones I tried to open up.  They said I didn't violate any TOS, but my business model was just "incompatible" with google checkout, and they wouldn't tell me anything more for "security reasons".
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July 18, 2012, 06:02:45 PM
 #384

For those subscribed to this thread, I posted another thread about anti-fraud lessons learned while operating CoinPal.
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April 27, 2013, 07:01:27 AM
 #385

Thanks for the lessons learned thread, good tribal knowledge!

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May 13, 2013, 09:04:04 AM
 #386

We at CoinMama.com also had the misfortune of having or PayPal account reviewed and frozen after a period of 2 months.
But now we're working with Western Union and MoneyGram money transfers.
This way we can allow people to buy bitcoins with a credit card since Western Union and MoneyGram offer the option of making a money transfer through a credit card or debit card (in certain countries).  
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May 13, 2013, 09:21:00 AM
 #387

damn necros...  Grin

This thread poped up and I am reading all those smart people saying smart things.. and thinking WTF? is it bitcointalk or am I dreaming...



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May 06, 2015, 02:43:44 PM
 #388

I'm wanting to know if they ever unfroze your account? Did you get your money back from them that was seized? Since they are now starting to mingle with bitcoins, I was curious if they would release funds they seized during their btc is against TOS.
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May 06, 2015, 02:50:20 PM
 #389

I got scammed 6k selling BTC on PayPal. Does this CoinPal guarantee insurance in case of charge back from credit card buyers?

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May 06, 2015, 03:13:12 PM
 #390

I got scammed 6k selling BTC on PayPal. Does this CoinPal guarantee insurance in case of charge back from credit card buyers?

- Mayer Amschel

Coinpal is shut down. They seized and froze the assets due to trading currencies. I was curious if they ever got their money back now that Paypal is starting to verse with Bitcoin. Sorry you lost money on there. Maybe you will get it back one day.
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May 06, 2015, 03:57:04 PM
 #391

Coinpal is shut down. They seized and froze the assets due to trading currencies. I was curious if they ever got their money back now that Paypal is starting to verse with Bitcoin. Sorry you lost money on there. Maybe you will get it back one day.

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May 06, 2015, 09:51:41 PM
 #392

I'm wanting to know if they ever unfroze your account? Did you get your money back from them that was seized? Since they are now starting to mingle with bitcoins, I was curious if they would release funds they seized during their btc is against TOS.
Unless I'm missing something, the account was unfrozen long ago - https://bitcointalk.org/index.php?topic=2555.msg595903#msg595903.

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May 06, 2015, 10:10:11 PM
 #393

I'm wanting to know if they ever unfroze your account? Did you get your money back from them that was seized? Since they are now starting to mingle with bitcoins, I was curious if they would release funds they seized during their btc is against TOS.
Unless I'm missing something, the account was unfrozen long ago - https://bitcointalk.org/index.php?topic=2555.msg595903#msg595903.


Thats great. Thank you very much for responding to this. I was extremely curious if Paypal would give the money back or unfreeze accounts since now they are having dealings with bitcoins.  I wonder how much money Paypal acutally had tied up with these type of accounts that were hit. Its kinda a large number I would imagine.
mndrix
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May 06, 2015, 11:30:13 PM
 #394

I'm wanting to know if they ever unfroze your account?

As Meni mentioned, PayPal unfroze my account about 6 months after freezing it.  I was able to withdraw my cash at that time.

However, until last month (about 4 years after the freeze) that PayPal account was still restricted.  That is, I was unable to add or withdraw any new funds or make any transactions with that account.  Before those restrictions were lifted, I had to provide a verbal promise that I would not use the account to trade virtual currencies.  So PayPal's baby steps towards Bitcoin haven't reached the ToS department yet, apparently.
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May 06, 2015, 11:36:08 PM
 #395

I'm wanting to know if they ever unfroze your account?

As Meni mentioned, PayPal unfroze my account about 6 months after freezing it.  I was able to withdraw my cash at that time.

However, until last month (about 4 years after the freeze) that PayPal account was still restricted.  That is, I was unable to add or withdraw any new funds or make any transactions with that account.  Before those restrictions were lifted, I had to provide a verbal promise that I would not use the account to trade virtual currencies.  So PayPal's baby steps towards Bitcoin haven't reached the ToS department yet, apparently.



Well it is quite a step for them to take I would imagine. Think of all the money that they froze. All the people that had interactions with because of it. I'm not saying that you was last on the list, but it was about what 2 months ago that they announced publicly that they would begin to determine if bitcoin would be a viable resource they could use? So 1 month and they did at least update your account. So, to me, that means that they must have have realistic intentions of implementing btc into their company.
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June 03, 2015, 09:13:29 AM
 #396

You guys forgot one important thing: Paypal (a system player) can't and won't go against the system. Neither of these small steps taken by them indicates less hostility towards BTC.

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June 07, 2015, 07:03:00 AM
 #397

paypal itself has become a risk for many people nowadays. many of the paypal accounts have been hacked by the hackers.
in this situation using paypal and bitcoin together will be a huge risk for yourself.
its a completely risky thing but if its secured by the hackers completely then may be you can be successful in attracting many people towards this.
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June 07, 2015, 12:13:56 PM
 #398

paypal still the best payment processors over the world since most ebusiness use it,bitcoin is new and already got a part of the cake,besides those is hard to exchange to paypal as a user can open a fight and get back the money sent on the 60 days ahead the transaction,soo exchange to paypal currently would be a disaster since desonest people will open a dispute and take the btc as well the money back.... soo better avoid paypal....
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June 17, 2015, 08:34:57 AM
 #399

Hello

Took me some time to read all the page
Now I have more than one points about some questions that I already find the answers here
Thank you @mndrix


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