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Author Topic: Paypal  (Read 550 times)
SMOKEU
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August 05, 2011, 06:48:36 AM
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Is it possible to sell my BTC and get the money paid into a Paypal account, then get Paypal to send the money to a New Zealand bank account? If so, what are the fees for doing this? I've had a look on the Paypal site but I can't find anything regarding this. I have a Visa card as well if this helps. The Paypal website says that the $NZ is on their list of supported currencies.
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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August 05, 2011, 07:03:06 AM
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It's possible to exchange BTC to USD, and send it to PayPal, but that's gaves not the best exchange rates.

Read this tread:

https://bitcointalk.org/index.php?topic=31617.0;all

VirWox are a trustworthy website, but has really bad exchange rates because you have to exchange BTC to SLL (Second Life currency), then to USD/EUR/CHF, witch you can withdraw to PayPal.
Limit (long term) exchanges are charged by 3,9% fee, and PayPal withdraw with 1 USD fee.

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August 05, 2011, 07:26:01 AM
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Selling BTC for paypal is dangerous, as paypal transactions are reversible. Be sure to only do it with trustworthy people.

And besides, I don't know if it is what you intend, but you can't build a business that systematically does it, since paypal does not authorize the use of their system to buy/sell bitcoins. They would freeze your account as soon as they know about it.
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August 05, 2011, 08:09:23 AM
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to send the money to a New Zealand bank account?

Here's a site specific for NZ community / trading:
 - http://www.bitcoinexchange.co.nz/forum/

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August 05, 2011, 08:36:07 AM
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to send the money to a New Zealand bank account?

Here's a site specific for NZ community / trading:
 - http://www.bitcoinexchange.co.nz/forum/

Thanks for the link! I never knew that there was a Bitcoin community in NZ, it hasn't really taken off over here.
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