Bitcoin and Paypal

[pawanjain]

Hello everybody,  
I am from India and as you people might know that India has banned crypto lately. I won't get deeply into it since I don't want to spread any kind of FUD. All I want to know is whether paypal is a good option to get $ in exchange of BTC. I have come across incidents where fraud people used to reverse the amount they sent to the other people. Thus by getting their BTC and the amount they sent to that person, they use to scam others. What are the counter measures for this ?
Is there any feasible solution to use paypal for exchanging BTC or is there any other method apart from paypal so that I can exchange my BTC.
I think paypal is good because it would be easy for me to convert $ to INR .

Don't give me the following shit ideas.
Contact a local seller.
Use Indian exchange.
Find an exchange that supports your fiat currency. ( I dont need a direct BTC/Fiat exchange )
 

[BrewMaster]

Hello everybody, 
I am from India and as you people might know that India has banned crypto lately. I won't get deeply into it since I don't want to spread any kind of FUD.

are you sure you are from India?

https://www.newsbtc.com/2018/04/06/dont-believe-the-fud-india-has-not-banned-cryptocurrency/

All I want to know is whether paypal is a good option to get $ in exchange of BTC.

Paypal can be charged back, and very easily at that and there is a long window that they can do that in. there is no such thing in bitcoin as charge back.
so the answer is no it is not a good option at all.

also i believe using Paypal in exchange for digital currencies is against Paypal ToS.

Don't give me the following shit ideas.

here is Indian local board, ask people who live in the same country you claim to be from what they are doing: https://bitcointalk.org/index.php?board=89.0

[pawanjain]

Hello everybody, 
I am from India and as you people might know that India has banned crypto lately. I won't get deeply into it since I don't want to spread any kind of FUD.

are you sure you are from India?

https://www.newsbtc.com/2018/04/06/dont-believe-the-fud-india-has-not-banned-cryptocurrency/

All I want to know is whether paypal is a good option to get $ in exchange of BTC.

Paypal can be charged back, and very easily at that and there is a long window that they can do that in. there is no such thing in bitcoin as charge back.
so the answer is no it is not a good option at all.

also i believe using Paypal in exchange for digital currencies is against Paypal ToS.

Don't give me the following shit ideas.

here is Indian local board, ask people who live in the same country you claim to be from what they are doing: https://bitcointalk.org/index.php?board=89.0

Yes I am from India. Thr RBI has issued a statement against financial institutions to stop dealing with cryptocurrencies. This includes all the Indian cryptocurrency exchanges to stop dealing with crypto. So that's why therr is a panic in the current market.

Yes Paypal can be charged banck which is why I made this post to ask if there are measures to prevent this from happening.

[coin_maker]

No, I don’t prefer paypal at all. Because Paypal can be charged back and it is not at all suitable for exchanging bitcoin and get dollar. You can use WealthPay, BelkaPay,Newline etc. but make sure to know all details about these before going for any exchange.

[pawanjain]

Conversion of Bitcoin using PayPal is not that popular among users and not secured for sure. Besides, I don’t think India has banned Crypto, they have forbid Banks to deal with Crypto, which we do not exercise already. I think exchanges are best possible solution for now.

Yes you are right about " India not banning crypto " . It was a misconception which the people had regarding the RBI statement. They interpreted it in a wrong way. Although India has not banned crypto yet, they still have told the exchanges to stop dealing with crypto which is still an issue for the traders because they will still not be able to withdraw their funds or encash it for INR (Indian Rupee).
Paypal could have been an alternative but I dont find it secure now. There should have been a better alternative so that people could exchange BTC for INR.

[eternalgloom]

I've succesfully used Virwox to trade BTC with Paypal and vice versa, it takes a couple of days before your account gets verified by Virwox, but after that it's pretty smooth.
Do note that their fees are pretty high, but that's always the case when you're trading BTC through PP.

Another option is to find a trusted seller on Localbitcoins or Paxful, this is a bit more risky for the reasons you've mentioned (chargebacks), but should be no problem if you find someone trusted.

More info on trading on Virwox:
https://en.bitcoin.it/wiki/VirWoX

[19nataliya12]

At the moment, you can easily exchange PayPal to Bitcoin, despite the different operating principles of the two systems. Each of these networks exist in parallel modes, touching only if currency exchange is necessary. But the current situation is just a truce in a long battle. Bitcoins outperform many competitors in the Internet space, leading in many respects. Crypto currency, which exists for about 7 years, was able to bypass competitors working for centuries.
Despite the fact that it's easy to exchange PayPal for Bitcoin today, you need to choose a good exchanger that has an excellent reputation. By using the PayPal service, you can purchase a crypto currency, but for this you will have to use the services of intermediary websites. And this will lead to certain losses on commissions.

[bitart]

At the moment, you can easily exchange PayPal to Bitcoin, despite the different operating principles of the two systems. Each of these networks exist in parallel modes, touching only if currency exchange is necessary. But the current situation is just a truce in a long battle. Bitcoins outperform many competitors in the Internet space, leading in many respects. Crypto currency, which exists for about 7 years, was able to bypass competitors working for centuries.
Despite the fact that it's easy to exchange PayPal for Bitcoin today, you need to choose a good exchanger that has an excellent reputation. By using the PayPal service, you can purchase a crypto currency, but for this you will have to use the services of intermediary websites. And this will lead to certain losses on commissions.

The whole topic is about the fact that it's not easy to use Paypal to buy bitcoin or any crypto. Anyway, it's not possible to buy the other cryptos directly (maybe ethereum) but bitcoin, and you have to exchange the bitcoins in order to buy the other cryptocurrencies.
If you want to buy bitcoin with Paypal, nobody will be selling you any bitcoin (or maybe only with huge discount in the exchange rate to cover the risk of the paypal dispute/claim). Paypal is known that it's automatically decides in the favour of the buyer if the disputed transaction is about cryptocurrency. When you buy bitcoin with paypal, you can start a dispute and escalate it to a claim, stating that you haven't received anything. Paypal will decide in your favour, they will charge the seller's account and will credit your account. This means you will have the bitcoins and the money in the end. This is why nobody wants to be a seller when the buyer wants to use Paypal.

[sindikat]

PayPal always strictly adhere to the laws of the country in which they work. If India prohibits the use of bitcoin on its territory, there is no doubt that this feature will be unavailable to you. You can't even transfer money to a private person through PayPal to another country. I generally think that this system will be destroyed by bitcoin.