Scheme how to safely sell bitcoin via PayPal

[Sergey69ay]

Here is the simple diagram allowing you to sell bitcoin or another crypto asset via Paypal safely!





NOTE: Paypal is the most complex method of accepting payments if you sell crypto on OTC market.

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[jooj2]

In my opinion it's very risky to sell/buy cryptocurrency via Payapl , there are many safe ways out like IQ option etc they accept  crated cards and many E-money sites as well.

[butka]

I'm not sure if the steps you propose here would work in practice. Even if they would, it's all too complicated for my taste.

I would rather look for some alternative method of sending cash that has no chargeback possibility. And do these intermediate steps, like selfie, ID, letter of authorization really prevent chargebacks?

Also, there is no escrow in this scheme, so it looks to me that the seller is not protected after sending the funds to the buyer.

[figmentofmyass]

I'm not sure if the steps you propose here would work in practice. Even if they would, it's all too complicated for my taste.

most buyers wouldn't want to bother with all these requirements, even if they're legit. passport, selfie and letter of authorization just to buy a little BTC with paypal? no thanks! i would never do that!

I would rather look for some alternative method of sending cash that has no chargeback possibility. And do these intermediate steps, like selfie, ID, letter of authorization really prevent chargebacks?

Also, there is no escrow in this scheme, so it looks to me that the seller is not protected after sending the funds to the buyer.

they don't prevent chargebacks, but they would probably deter a lot of buyers from trying. i suppose the letter of authorization would bolster the seller's case in a dispute, but who knows how paypal would decide?

[buwaytress]

So... what's the point? Anyone who's ever used Paypal knows that option farther on the right (send as gift). But we all know also that the fiat received doesn't mean game over. You could still get a nasty chargeback weeks down the line OR Paypal realizes that you *aren't* a friend or family and freezes the balance for abuse of options or misleading information.

There's a reason Paypal payments have a high premium. The risk of chargebacks and/or account freezing. An unacceptable risk for me, and for most serious traders.

[Sergey69ay]

In my opinion it's very risky to sell/buy cryptocurrency via Payapl , there are many safe ways out like IQ option etc they accept  crated cards and many E-money sites as well.

Yes, PayPal is the worst method of getting fiat for crypto. When you receive money on your PayPal from the crypto buyer you should instantly resent it somewhere further (for example to the PayPal account of your close friend).

[Arseniy Sokolov]

Thanks mate. I wanted to try PayPal transactions for btc selling

[cryptocrusher]

This is still so far from 'safe'. It's just a way to reduce risks. You can still experience chargebacks with this method. Even if someone provides all the documentation they can still do it, either they could be using fakes or they really could just not care.

[Lucius]

PayPal is maybe the worst option to buy/sell crypto because of buyer/seller protection (which is good if you are buyer and use fiat), and although all possible security measures are taken there is always option of chargebacks or PayPal can freeze your account for any reason.

However if you want to buy/sell BTC or some other crypto for PP, then best option is to check Currency exchange on this forum and find trusted seller or buyer. By trusted I mean user who have dozens of transactions and postive trust, so check everything before is too late.

[boyshx]

Well these things can be done more safely over the localbitcoins. As much as I know, crypto currency trading over the loclabitcoin is possible in all the countries and thus you dont have to go for the PayPal alone. You can literally choose various methods that a user is going accept. This can be wire transfer to your wallet transfer which supports the fiat currency transaction. Also you get the escrow service automatically with minor fees and thus no stressing yourself about the funds received or not.
If you trying to explain the specific PayPal method then there should be some vehicle where we will search for the buyer and seller then only it can go successful.