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Author Topic: The best services for online payments?  (Read 102 times)
freespeechguy
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May 16, 2019, 08:25:38 PM
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I'm wanting to start buying and selling bitcoin as a side-hustle. As it grows, I want to grow it to a full OTC desk.

Reading the laws surrounding this (USA) is head spinning and leaves with more questions than answers.

So my question, are any online payment providers (paypal, skrill, etc) Bitcoin friendly? I don't want to start trading and then have my account frozen.
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mr.relax
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May 17, 2019, 06:47:32 AM
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So my question, are any online payment providers (paypal, skrill, etc) Bitcoin friendly? I don't want to start trading and then have my account frozen.
Your accounts will be frozen not because of trading crypto. They will be frozen because of chargebacks by scammers.
Accept Skrill, Paypal,Neteller and sell Cryptos: You will loose funds and accounts.

Accept Bitcoins and Altcoins in your Webshop. With or without exchange to fiat. Fee starting with 0.3%. Xedex
petahasher
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May 17, 2019, 06:49:27 AM
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Try Zelle/Cashapp/Venmo, I am not American but I know those are good options

freespeechguy
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May 17, 2019, 05:33:43 PM
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So my question, are any online payment providers (paypal, skrill, etc) Bitcoin friendly? I don't want to start trading and then have my account frozen.
Your accounts will be frozen not because of trading crypto. They will be frozen because of chargebacks by scammers.
Accept Skrill, Paypal,Neteller and sell Cryptos: You will loose funds and accounts.

So you are saying, if I sell crypto and accept Skrill, Paypal, etc = my accounts will be shutdown/frozen?

I know there has to be a way to do this. Somebody please advise!!
mr.relax
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May 17, 2019, 06:42:01 PM
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If you want to sell, only accept cash, goods,westernunion,moneygram,giftcards or sell on exchanges.
If you buy use what you like.
Anyway there are many ways to get scammed, and many ways to get screwed by paymentprocessors and exchanges.
You will learn a lot while trying to trade...
Dont trust anyone, no websites and no people.
Especially in the P2P-Market like in this forum, maybe 80% are scammers...maybe even more

If you dont even understand why your accounts will get frozen-better dont even think about buying/selling cryptos OTC.
Do it only on big exchanges and you are relative safe.

A lot of people here can accept paypal or skrill, because they have fake identities, fake accounts and withdraw fast.
The poeople here that want to pay with paypal have almost all stolen(phishing) accounts.

Accept Bitcoins and Altcoins in your Webshop. With or without exchange to fiat. Fee starting with 0.3%. Xedex
DreamerBT
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May 17, 2019, 07:29:33 PM
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Venmo chargebacks are worst than paypal chargebacks.
Do not use Venmo believe me
freespeechguy
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May 19, 2019, 02:03:43 PM
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Thanks for all your replies. I am very seriously considering doing this as a business. Obviously it would have to start as a side hustle until it grows, but I believe the market is there to provide a service, run by people who believe the bitcoin ethos. I get sick every time reading how people get dicked around by exchanges.

On my end, I would want to verify identity to protect myself from the long arm of the law (US). So, what level of ID verification would you guys be okay with? If I was offering cash by mail, or anything like that. If I had client-side encryption in the browser, and encrypted with both the business key and the clients key, that way you have to be involved in anything accessing your identity?

I know people who do this already don't want competition, and aren't likely to advise their competition. But please, my attempts at finding a lawyer who even understands the laws around Bitcoin have not been fruitful.

Anyone out there can help me structure this thing the right way?
DreamerBT
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May 19, 2019, 02:31:11 PM
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ID verification ? first of all you are not allowed to request any ID.
Secondly, even if you do, people will not only laugh but tag you for collecting personal information which is illegal. (Except if you have the right documents for that which i highly doubt)
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May 19, 2019, 03:35:29 PM
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Anyone out there can help me structure this thing the right way?
Go to a lawyer.
Every state or country has different regulations.
Dont expect to receive valuable and true info for free.
I mean its your ass you wanna risk...

Accept Bitcoins and Altcoins in your Webshop. With or without exchange to fiat. Fee starting with 0.3%. Xedex
freespeechguy
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May 19, 2019, 10:58:53 PM
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ID verification ? first of all you are not allowed to request any ID.
Secondly, even if you do, people will not only laugh but tag you for collecting personal information which is illegal. (Except if you have the right documents for that which i highly doubt)

I do have the right documentation, this is going to be run as a business, LLC in the USA, registered MSB, and anything else that needs to be done. Won't be selling on the forum. I'm in this specifc "Currency Exchange" thread to try to get the right information. Unfortunately if you want to do this in the USA, and you are not already a banker, they make it difficult to do it the right way without leaving yourself open to getting criminal charges. Of course, if you are a banker (see coinbase, circle, etc) they make it very easy to hook up your bank account and buy bitcoin. I'm trying to start a company to bring this back in the hands of the people.




Quote
Anyone out there can help me structure this thing the right way?
Go to a lawyer.
Every state or country has different regulations.
Dont expect to receive valuable and true info for free.
I mean its your ass you wanna risk...

I agree with your points. What I am seeking is the knowledge from someone who has some experience with this, so I can take that information and use it to get further information. I have contacted a few lawyers, and during the consultation they all told me different things. Lawyers are also expensive, so if I can do any of the leg work before going to them I am going to try.
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