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Author Topic: Where can I buy bitcoins with paypal?  (Read 3538 times)
Test Bank Guy
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September 26, 2011, 04:52:00 PM
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Where can I buy bitcoins with paypal?  Reputable sites only please.

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btcmerchant
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September 26, 2011, 04:57:10 PM
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I don't think you can buy them from paypal without some risk involved.  Most if not all of the exchanges stopped taking paypal due to scammers. Unfortunately dwolla is thes closest thing you can use. There's also a site where you can deposit cash into their account and get credited pretty fast.

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September 26, 2011, 05:21:08 PM
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here is one I never tried myself.  Spoke to the owner and sounded legit.  http://otcexchange.net

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Stephen Gornick
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September 26, 2011, 09:37:52 PM
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You might find someone willing to do a trade on the Bitcoin-OTC marketplace.

- http://bitcoin-otc.com
- http://en.bitcoin.it/wiki/Secure_Trading#Best_Practices_with_trading


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September 27, 2011, 07:19:55 PM
 #5

You might find someone willing to do a trade on the Bitcoin-OTC marketplace.

- http://bitcoin-otc.com
- http://en.bitcoin.it/wiki/Secure_Trading#Best_Practices_with_trading



I agree, the Bitcoin-OTC marketplace is definitely the safest place to purchase BTC  with Paypal. There are many issues with chargeback and fraud on Paypal, but buying from someone who relies on feedback is the safest way to go. Of course, if you can find a way outside of Paypal that would be ideal.
saykor
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September 28, 2011, 11:19:06 PM
 #6

He want to buy a btc with paypal. that mean he will pay with paypal. The buyer is a COMPLETELY SAVE in this case. Not have any risk for the buyer. After he receive his btc the buyer can raise a claim in paypal to get his money back.

the risk is for the seller not for the buyer.

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memvola
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September 28, 2011, 11:30:53 PM
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Suggestion: A Paypal->BTC service that keeps the BTC in for a month before sending to the buyer. Not useful in most cases but could be helpful for people who want to buy some coins to put under the pillow.
JonHind
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September 29, 2011, 12:04:17 AM
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Suggestion: A Paypal->BTC service that keeps the BTC in for a month before sending to the buyer. Not useful in most cases but could be helpful for people who want to buy some coins to put under the pillow.


That then adds yet more risk - a third party who could disappear with the bitcoins overnight and there wouldn't be anything anyone could do about it.

Also, people who buy bitcoins often need them quickly. Planning finances one month ahead won't work for many users (i.e. silk road). Also, what would happen if the value of the bitcoins drops by a few hundred percent during that month?

There are far safer ways to purchase bitcoins than paypal. None are risk free though.
memvola
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September 29, 2011, 12:47:25 AM
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That then adds yet more risk - a third party who could disappear with the bitcoins overnight and there wouldn't be anything anyone could do about it.

Also, people who buy bitcoins often need them quickly. Planning finances one month ahead won't work for many users (i.e. silk road). Also, what would happen if the value of the bitcoins drops by a few hundred percent during that month?

There are far safer ways to purchase bitcoins than paypal. None are risk free though.

There isn't a symmetric trust scheme between paypal users and exchanges. There are many reputable services out there who hold Bitcoin balances. I hold coins flexcoin for instance and trust them for that many coins, if not more. A lot of people keep some coins in exchanges. The idea is, your balance shall not exceed your trust. The service needs to build reputation, or must be built by reputable members for the users to trust. Since the service will be holding the coins for a short period, it's even less risky. It can be a registered company too, if there is a trust to be gained by regulations.

My original idea was that buyers buy the coins at the market price at the time of purchase and the exchange keeps them for a certain time. Though, as you said, there is still a risk for the exchange, since the price may drop and buyer may ask for a chargeback. A much lowered risk, but still a risk.

There are not many safer methods to buy with paypal if you don't have any reputation. And there isn't a straightforward way to buy at all.
Gabi
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September 29, 2011, 12:31:51 PM
 #10

Where can I buy bitcoins with paypal?  Reputable sites only please.
Probably nowhere, people are tired of getting scammed.
hmongotaku
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October 04, 2011, 04:10:53 PM
 #11

I can sell you some, just rep me after your done.

Litt
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October 04, 2011, 04:19:32 PM
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virwox
jasonk
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October 04, 2011, 10:55:40 PM
 #13

How about if he sends the money via Personal payments.  Then he can't dispute it and scam the seller right?

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bitcoinTrader
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October 05, 2011, 04:25:40 AM
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How about if he sends the money via Personal payments.  Then he can't dispute it and scam the seller right?

No, even personal payments can be charged back

Fractalrationality
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May 07, 2013, 09:59:48 PM
 #15

Have you noticed the trade volume on virwox? SLL/BTC is a little over 3BTC per day... unless I'm reading it wrong.
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May 08, 2013, 05:48:41 PM
 #16

ebay
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