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Bitcoin Forum > Economy > Marketplace > PayPal - BTC exchange. Would you be interested in?
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johny1976 (OP)
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September 08, 2013, 03:46:50 PM
 #1
Hi,

Bitcoin doesn't have much ways for buying - everything has a huge fees!

If I started new BTC (+ other cryptos) exchange, which is widthrawing your many only to PayPal as well as depositing your money only from PayPal, would you be interested in?

It would contain:

 - Instant & no-fee PayPal USD depositing and withdrawing
 - https - SSL secured
 - Bitcoin, Litecoin, Namecoin, Feathercoin, USD exchange
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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September 08, 2013, 04:00:38 PM
 #2
You'll be shut down by paypal and scammers at the same time.
TimeIsBitcoin
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September 08, 2013, 04:10:38 PM
 #3
Paypal's TOS does not allow it, and you'll be scammed out of business due to chargebacks. Not recommended.
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September 08, 2013, 05:47:41 PM
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Chargebacks could be an issue.
Mike Christ
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September 08, 2013, 05:49:53 PM
 #5
Quote from: Snail2 on September 08, 2013, 05:47:41 PM
Chargebacks could be an issue.

They will most definitely be an issue; this is also why no exchange uses credit cards, the risk is just not worth the hassle.  The only secure way to move money from A to B is through a wire transfer, and those are slow and cost a higher fee than CC & PP combined.
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September 09, 2013, 12:15:54 AM
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perhaps you could sell bills(pieces of paper) with private keys written on them. you would have to have a strict 100% no refunds policy though. otherwise your screwed
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September 10, 2013, 04:24:25 AM
 #7
paypal sucks
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September 11, 2013, 06:08:05 PM
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PayPal = instant death by scammers
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September 11, 2013, 07:58:26 PM
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https://bitcointalk.org/index.php?topic=233495.0

Coingator attempted it....
johny1976 (OP)
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September 11, 2013, 08:50:17 PM
 #10
Quote from: nachius on September 11, 2013, 07:58:26 PM
https://bitcointalk.org/index.php?topic=233495.0

Coingator attempted it....

But it's just one-way exchange. Nobody can ask for reverse.
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September 11, 2013, 09:25:59 PM
 #11
my advice forget about this idea it smells
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September 13, 2013, 10:45:39 AM
 #12
Quote from: realestone on September 11, 2013, 09:25:59 PM
my advice forget about this idea it smells
yes agree its not a good idea
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