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Author Topic: BTC, an alternative to Paypal?  (Read 1763 times)
PandaMiner
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March 15, 2011, 03:55:59 AM
 #1

Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.

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jgarzik
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March 15, 2011, 03:59:53 AM
 #2

Well, there is CoinPal: Buy bitcoins with Paypal.

For a more complete list of currency exchanges see https://en.bitcoin.it/wiki/Trade#Currency_exchange


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March 15, 2011, 04:01:13 AM
 #3

Hi.

I came to BTC as an alternative to paypal.  

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins."  

www.mtgox.com

Quote
And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?


Yes.

T.I.M.T.O.W.T.D.I

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
PandaMiner
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March 15, 2011, 04:46:50 AM
 #4

Thanks.  Lots to read.

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gigabytecoin
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March 19, 2011, 10:07:02 AM
 #5

Well, there is CoinPal: Buy bitcoins with Paypal.

For a more complete list of currency exchanges see https://en.bitcoin.it/wiki/Trade#Currency_exchange



I would be REALLY wary of purchasing bitcoins via PayPal. They are quite trigger happy with their "banned account" reasonings. Seems to me that something like "Bitcoin" might be grounds for seizing your money. In their eyes at least.
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March 19, 2011, 04:31:37 PM
 #6

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

CoinPal's API can help automate this part for your customers.  It lets you fill in the CoinPal order form with your Bitcoin address and the amount of their order.  The customer only needs to provide their PayPal email address.  Since the coins go directly to you, your customer doesn't have to run Bitcoin software, if they don't want to.

You mentioned that your PayPal account was frozen, so this part might not help, but CoinCard's API lets you automatically convert Bitcoins into a PayPal payment.

Full disclosure: I operate both services mentioned above
mndrix
Michael Hendricks
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March 19, 2011, 04:37:45 PM
 #7

I would be REALLY wary of purchasing bitcoins via PayPal. They are quite trigger happy with their "banned account" reasonings. Seems to me that something like "Bitcoin" might be grounds for seizing your money. In their eyes at least.

I've spoken to PayPal at length about CoinPal and they're fine with me selling Bitcoins this way.  They understand what Bitcoins are and the fraud risks associated.  Of course, this does not imply an endorsement from PayPal.  They may change their mind in the future, but they could do that with any service that accepts PayPal.
Nekrobios
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March 19, 2011, 05:08:46 PM
 #8

And how do you handle unjust chargebacks? Does PayPal sort it out in your favor or do you blacklist the scammer’s IP/PayPal-Mail and just swallow the loss?
mndrix
Michael Hendricks
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March 19, 2011, 06:55:53 PM
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And how do you handle unjust chargebacks? Does PayPal sort it out in your favor or do you blacklist the scammer’s IP/PayPal-Mail and just swallow the loss?

I try to prevent chargebacks from happening, but when they do happen, I swallow the loss as a cost of doing business.  That's about the only choice since PayPal makes no assurances about payments for digital goods sales.
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March 19, 2011, 09:56:29 PM
 #10

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

If the reward is worth the effort, here's one method where credit cards are accepted for Liberty Reserve, which  can then be used to buy Bitcoins:
  http://bitcointalk.org/index.php?topic=4635.0

Anonymous
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March 20, 2011, 03:21:38 AM
 #11

We need to kick paypal and liberty reserve out of the middleman position.
see here for a solution-
http://bitcointalk.org/index.php?topic=4683.new#new
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January 14, 2018, 01:22:24 PM
 #12

Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.
I think is quite hard.
If I possessed bitcons then you can execute trades. If I don't use it, I think quite hard for you to perform transactions with me

GirlBitcoin
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January 14, 2018, 01:58:51 PM
 #13

Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.
I think is quite hard.
If I possessed bitcons then you can execute trades. If I don't use it, I think quite hard for you to perform transactions with me
Bitcoin will be able to replace paypal but this takes a lot of time and bitcoin changes. Paypal is still the largest online payment method in the world and it will be difficult if there is any kind of paypal pass. Bitcoin wants to be more commonly used, it needs to improve faster and the transaction fee must fall to the lowest possible level so people can use it without having to think about the fees they have to pay.

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January 14, 2018, 02:18:20 PM
 #14

Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.
Do you need USD in what? Paypal and it will just the same. where you could easily get your account lock from the limit.

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January 14, 2018, 02:51:23 PM
 #15

As much as I like bitcoin , Paypal is way more simple if you have your account verified. The only downside with bitcoin , transaction getting slow , Fees getting higher , Price volatility frightened people. Maybe ethereum could be an alternative to paypal or other faster alts , but for Bitcoin meh  Huh nah! BITCOIN is getting more like a LUXURY than a crypto CURRENCY!  

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January 14, 2018, 03:38:52 PM
 #16

What kind of service are you running? If it involves small payments, then even if you use a service that uses segwit you will still have to deal with some decent fees because of the congestion on the bitcoin network right now. So although you could try to provide that service, and that already exists, since you had steam, microsoft and other merchants enabling bitcoin payments, you shouldn't only depend on that payment method, because bitcoin right now, can't really handle well small transactions because they end up being to costly. You should try offering that service with other coins as well, like litecoin or example, and when BTC solves it's scalability problems, then you can turn to bitcoin again.



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avikz
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January 14, 2018, 05:48:52 PM
 #17

Hi.

I came to BTC as an alternative to paypal. 

I provide online services and get paid via paypal.  My account got locked up, and I need a new way for customers to pay me.  The question is, how can my customers and I use BTC for this purpose?

I want to tell them something like: "Go here, buy some bitcoins with your currency; then send me the coins." 

And most importantly, I want to be able to take my coins, and convert them back into my own currency. (USD)

Is there a way to do this?

Thanks.

If you say that paypal is an alternative to you for receiving payment for your services, I will agree but both bitcoin and paypal are structurally very different. Paypal is strictly centralized and works with conjugation of the local government. Paypal follows different rule for different countries. Like in India, users are not allowed to keep any dollars in their paypal profile more than a day. If they keep it, then paypal will automatically send that amount to your connected bank account. Where as the rule for bitcoin is same for any country in the world. Where ever you go, bitcoin network will support you the similar way.

However, to answer your main question, you can suggest your customers about Coinbase and localbitcoins. These two websites are most convenient when buying bitcoins. Coinbase has some country restrictions, so it is better to check their faq sections for the allowed countries, but localbitcoins platform is open for all. DO a little research and you will know these platforms better. 

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