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Author Topic: Best way to buy bitcoins with paypal?  (Read 3979 times)
manman523
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April 05, 2012, 10:33:35 PM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?
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Make sure you back up your wallet regularly! With Bitcoin-Qt, it needs to be backed up at least as often as every 100 transactions (both sends and receipts) or new addresses.
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casascius
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April 05, 2012, 10:38:00 PM
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Find someone willing to sell them to you for PayPal.  (that's the hard part)

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
bitcoinsarefun
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April 05, 2012, 10:38:43 PM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

You would have to send whatever currency the seller wanted... As an fyi, not too many people are keen on doing paypal for btc since there is a massive risk of charge back. That being said, there are always people that are willing to take the risk
manman523
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April 05, 2012, 10:42:22 PM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

You would have to send whatever currency the seller wanted... As an fyi, not too many people are keen on doing paypal for btc since there is a massive risk of charge back. That being said, there are always people that are willing to take the risk
haha of course there will be i guess but will I be willing to buy from them? Theres a high chance i might just get scammed Sad
bitcoinsarefun
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April 05, 2012, 10:43:33 PM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

You would have to send whatever currency the seller wanted... As an fyi, not too many people are keen on doing paypal for btc since there is a massive risk of charge back. That being said, there are always people that are willing to take the risk
haha of course there will be i guess but will I be willing to buy from them? Theres a high chance i might just get scammed Sad

Explain how you will get scammed? The seller of bitcoin is assuming all the risk here, what is your risk?
5850Guy
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April 06, 2012, 12:06:47 AM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

I've done it through virwox.com before.


It's a complicated process of paypal--->Linden Dollars--->BTC.

The fees are kind of ridiculous too.

Hopefully someone will post a better way..............

I bought a used Radeon 5850 and the GPU fan died within 2 weeks :-(
Help me get back in the game (send some spare BTC!):  1MZtrwLp95HG9MXgrFroki6PZ61ttLtg2v
Thank you!
Rothgar
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April 06, 2012, 12:09:23 AM
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There is a better way the #bitcoin-otc on freenode.  You need to validate yourself with a PGP private key, but once you get used to that and build reputation, there's tons of transactions you can do.


http://bitcoin-otc.com/

Visit http://neocashradio.com for the premier weekly bitcoin podcast.
Follow neocashradio on twitter.  https://twitter.com/NeocashRadio
Variable
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April 06, 2012, 12:11:02 AM
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there is no problem when buying with paypal, its all with selling.  thats the total risk as paypal assumes the responsibility on the seller not the buyer.
Stephen Gornick
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April 06, 2012, 12:57:41 AM
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Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

Buy a little mini bit (about $0.50 worth, $1, worth or $2 worth):
 - http://minibits.weebly.com/buy.html

or buy a little bigger bit (either $5 worth or $10 worth) if you have a PayPal debit card  (or any credit card even):
 - http://www.blockchain.info/wallet


SistaS0uljah
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April 06, 2012, 01:11:26 AM
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I'm just not sure why some people are so set on PayPal.
An alternative that's more generally accepted is Dwolla (or depending on where you have your checking account there are other alternatives).
Dwolla is NOT a solution to the PayPal issue, it is simply another part of  the problem.  Dwolla is responsible for the closing of TradeHill, (the second largest exchange after Mt. Gox) which has now sued Dwolla for revoking hundreds of thousands of dollars from TradeHill's account.  Before TradeHill closed, they refunded all bitcoins to their users, so no TradeHill customers lost anything, but TradeHill lost EVERYTHING because of Dwolla's rescinding their "no chargeback" policy.  Dwolla then modified their website after the fact to allow chargebacks (which they had earlier proudly proclaimed they would never use).

I closed my Dwolla account and will never use them again.  I suggest you do the same.  Dwolla owes their success to Bitcoin, but now they've turned on us and made it far riskier to run an exchange.  You may notice that several exchanges are no longer using Dwolla because of what happened to TradeHill.
madcoweater
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April 06, 2012, 01:19:58 AM
 #11

As others have mentioned bitcoin-otc.com (the IRC channel) is probably your best bet. You are going to have difficulty even there finding someone who will sell you bitcoins for paypal. If you do find someone they will probably only sell a small quantity and price gouge you until you have enough transactions to be trusted.
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April 06, 2012, 01:24:10 AM
 #12

The best way to buy BTC with PP is to

1) Get a PP debit card
2) Withdraw cash
3) Go to www.bitinstant.com or www.aurumxchange.com and fill in the form for a CASH deposit
 - choose a mtgox or bitcoinica or cryptoxchange code
4) Go to bank, deposit cash in Trustcash account
5) log into your exchange account
6) View funds
7) Buy BTC
Cool ?? ??
9) Profit!!!

EDIT: Bonus hint: one has lower fees than the other, both are awesome
Bonus Hint 2: Get cash over a couple days buying stuff w/ the debit & cashback at grocery stores etc to save ATM fees

Mine at the Maza Club! with ShastaFarEye Prospectors! Mazacoin PPS & P2pool mining, and more services coming soon!
Maza Means Money! Check yours at the mazacha.in!

Please contact me  on my  OTC registered GPG (A54E87F2) Key's email address or guruvan@shastafareye.net  and encrypt all correspondence.
hotboy1504
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April 06, 2012, 02:50:55 AM
 #13

I think paypal is the most convenient and easy to buy bitcoins. You have another simple and more convenient. Please share!

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Endgame
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April 06, 2012, 05:55:54 AM
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Buying bitcoins with paypal is a bad idea, as you will pay a significant premium to do so
Xmufa23X
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April 06, 2012, 06:49:28 AM
 #15

Wait guys...


GUYS!

Wait!


Listen...


Hey!


Guys...


GUYS LISTEN...


What if...


Get this...


What if the Best way of buying Bitcoins... is with Bitcoins?

I know, am I right? I am a genius! Please send tips to 16ET6C6Y1qHewjjZkg3MfjqTPRxZYKWPth
arby
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April 09, 2012, 07:16:50 AM
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very hard to find a paypal bitcoin seller, especially if you are new.

Jabber/XMPP: arby@darkness.su
casascius
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April 10, 2012, 08:57:50 PM
 #17

What if the Best way of buying Bitcoins... is with Bitcoins?

Buy Bitcoins with Bitcoins at casascius.com!

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
Xmufa23X
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April 11, 2012, 02:54:15 AM
 #18

I know, am I right? I am a genius! Please send tips to 16ET6C6Y1qHewjjZkg3MfjqTPRxZYKWPth

Great, another online beggar.


Despite the sarcasm, it's still the newbie board bro. Have some more coffee Wink
btccomm
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April 11, 2012, 08:42:33 PM
 #19

Hey guys, im just wondering whats my best way to buy bitcoins with paypal. Do I have to convert paypal to another currency or what ?

You would have to send whatever currency the seller wanted... As an fyi, not too many people are keen on doing paypal for btc since there is a massive risk of charge back. That being said, there are always people that are willing to take the risk

I saw some ebay auctions for bitcoin but the margin is quite high.  i suspect the risk of charge back is the reason
firepacket
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April 11, 2012, 09:13:13 PM
 #20

What if the Best way of buying Bitcoins... is with Bitcoins?

Buy Bitcoins with Bitcoins at casascius.com!

Hey casascius,
How do you or your partners handle the risk associated with buying your coins via paypal or credit card? Is it because the goods are tangible and must be shipped that the risk is lower?
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