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Author Topic: Sell Bitcoins for paypal?  (Read 16333 times)
Cyclone
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April 21, 2012, 05:35:54 PM
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Is it possible to sell Bitcoins on an exchange which then transfers your money to a PayPal account? I'd like to avoid using a bank account for this. MtGox doesn't seem to support paypal...

I'm going to avoid selling without an exchange website so I don't get scammed.

All I want to do is convert BTC to dollars in a paypal account, not the other way. Will PayPal block my account if I am doing this?

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Meni Rosenfeld
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April 21, 2012, 05:45:22 PM
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All I want to do is convert BTC to dollars in a paypal account, not the other way. Will PayPal block my account if I am doing this?
They could. As well as the account of the other party.

Is it possible to sell Bitcoins on an exchange which then transfers your money to a PayPal account? I'd like to avoid using a bank account for this. MtGox doesn't seem to support paypal...
You would be hard-pressed to find such an exchange, for the reason stated above.

https://www.spendbitcoins.com/convert/paypal/ seem to offer converting Bitcoin to PayPal.

If you can use Amazon Payments instead of PayPal, you can try CoinCard which is highly recommended.

I'm going to avoid selling without an exchange website so I don't get scammed.
If you do the trade with a reputable member of this forum or bitcoin-otc there is close to 0 chance of being scammed, and it's also not very likely PayPal would find out.

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Cyclone
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April 21, 2012, 05:53:25 PM
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Amazon Payments...good enough. Thanks!

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April 21, 2012, 06:27:06 PM
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Just a word of advice for all newbies, PayPal has a habit of FREEZING your paypal account for an "investigation" if they have "reason to believe" that your conducting bitcoin transactions.

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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April 21, 2012, 11:23:13 PM
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https://www.spendbitcoins.com/convert/paypal/ seem to offer converting Bitcoin to PayPal.

Because PayPal charges a fee (the normal $0.30 + 2.9%) that amount gets passed along and subtracted before the withdrawal payment is sent.

Bicoin Nordic does withdrawal to PayPal as well, with a 10% haircut on the exchange rate:
 - https://bitcoinnordic.com/sell

Works, but for larger amounts it gets expensive.

There are usually traders on #bitcoin-otc willing to do 1:1 or close to it.  You're the one extending trust but the trust ratings will help you know how to avoid risk:
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://bitcoin-otc.com/trust.php

donking
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April 22, 2012, 03:47:30 AM
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I would assume it is OK as long as it is bitcoin to Paypal. And not the other way around.

It looks like Eclipse mining pool is letting you get money for your mining work in Paypal.

But Paypal has high fees and everything. Losing a lot of money just to have money go through Paypal is a bit bad.
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April 22, 2012, 04:08:37 AM
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Easiest I've come across is Spendbitcoins.com to amazon payments. Gets the highest mtgox rate when you cash out. Takes a week to clear but it's quick and convenient. I've put 150 coins through. So far so good.

Amazon payments doesn't charge fees even on credit cards to personal accounts. ( for the first $1,000 a months ). It's awesome.

PayPal is crap.
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April 22, 2012, 05:00:17 AM
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either way you want to do it, use a reputable exchanger, as sending your bitcoins to someone is not reversable, but paypal payments are.

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Kuma
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April 22, 2012, 03:22:31 PM
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Amazon payments are fine, but if you are not from US, you can't accept money to your account.
TheBitMan
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April 22, 2012, 10:30:03 PM
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My site buys bitcoins at market price http://www.minibtc.com/index.html
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April 23, 2012, 07:54:14 PM
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nope
Fiyasko
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April 24, 2012, 03:29:46 PM
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My site buys bitcoins at market price http://www.minibtc.com/index.html
Tired to acess your site on three differnet days, Two different browseres, and once on a tor node, All say that your site is down yo

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
TheBitMan
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April 24, 2012, 08:22:35 PM
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My site buys bitcoins at market price http://www.minibtc.com/index.html
Tired to acess your site on three differnet days, Two different browseres, and once on a tor node, All say that your site is down yo
I shut it down anyway although I have no idea why the link isnt working.
Simran
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April 25, 2012, 03:24:21 AM
 #14

I thought PayPal hated BitCoin Tongue

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bizong
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April 25, 2012, 03:31:24 AM
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you could maybe go on the bitcoin irc channel and sometimes people will do small paypal transactions.
bitcoinsydney
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April 25, 2012, 11:48:31 AM
 #16

Is it possible to sell Bitcoins on an exchange which then transfers your money to a PayPal account? I'd like to avoid using a bank account for this. MtGox doesn't seem to support paypal...

I'm going to avoid selling without an exchange website so I don't get scammed.

All I want to do is convert BTC to dollars in a paypal account, not the other way. Will PayPal block my account if I am doing this?

This probably isn't exactly what you had in mind, but i've not found an easy to convert BTC to paypal. I've taken to selling coins instead, which isn't that much effort.

What I do is advertise on noticeboards around colleges, business parks and anywhere else I think there might be people interested. I link them to this ad i've posted

http://www.gumtree.com.au/s-ad/chatswood/other-stuff-for-sale/bitcoins-for-aud-sydney-chatswood-/1001215988

and ask them to do the following

1. After selecting send funds enter in bitcoinsydney@gmail.com in the "to" field
2. Enter in [SALE AMOUNT] in the amount [[SALE AMOUNT] X [BTC RATE]]
3. Select AUD for the currency
4. Select Person and "gift"
5. Press continue
6. Ensure "I will pay the fee" is ticket
7. Enter in your bitcoin deposit address in the subject field at the bottom of the screen [where it says "you've got funds"]
8. ignore the message field, it's not relevant to my automated process.
9. Press "send money"
10. Usually the bitcoin network will process your confirmations within 20 minutes to 2 hours

It's obviously a leap of faith, but so is using an exchange or any of the other services. Usually most people like to conduct a face to face trade, or give me a call to chat before going through the transaction. From this i've built up a small base of customers who trust me, which gives me a better way of converting BTC to cash rather than withdrawing through an exchange.

I've not had any problems with paypal, though it is in the back of my mind. I withdraw all funds as soon as they hit paypal for that reason. At least then if they freeze my account for whatever reason [not sure what that would be] i'll only lose a small amount.

Send your thanks and sympathy to 1AimCqwgujZLLSDmdSLFEv9cdvtjqVw7F5
c4pt
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April 26, 2012, 03:57:04 AM
 #17

hello
TangibleCryptography
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November 03, 2012, 03:02:57 AM
 #18

FastCash4Bitcoins new site is up and we have been paying out Bitcoin sales using PayPal for four months now. 

https://fastcash4bitcoins.com
Testit
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November 03, 2012, 07:41:33 AM
 #19

FastCash4Bitcoins new site is up and we have been paying out Bitcoin sales using PayPal for four months now. 

https://fastcash4bitcoins.com

are U for real that page is not working good

Eight Payment Methods

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...................http://www.salamaninstitute.org/ Huh

WTF
Optimus Megatron
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November 03, 2012, 08:35:40 AM
 #20

Site works fine for me, great service!
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