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Author Topic: [ANN] Finally, Bitcoin withdrawals to PayPal from FastCash4Bitcoins ...  (Read 1723 times)
TangibleCryptography
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June 27, 2012, 01:31:23 PM
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[ANN] Finally, Bitcoin withdrawals to PayPal from FastCash4Bitcoins ... 2 months ago.

Just having a little fun with the title, no harm intended.




We have never announced our service outside the currency exchange forum so maybe that is why some users don't know that you have been able to get paid in PayPal for your Bitcoin sales for a couple months now.  If you don't like PayPal well we offer Dwolla, ACH, Check in the mail, Bank Wire, Cashier's Check, GreenDot Money, and Cash Deposits too.  We usually don't promote competitors but I have to point out that Jeremy from SpendBitcoins has been offering PayPal payouts for a lot longer than we have (6 months?).

https://www.fastcash4bitcoins.com

We don't make you use middle men, exchanges, or cash out codes either.

We like simple and it doesn't get much more simple than:
Step 1) Sell us your Bitcoins
Step 2) Get more* cash.  
* Our avg fee is ~3% vs 6.5%+.

The security conscious may be interested to know we use a cold wallet, encrypted order database, and bcrypt (multi-round brute force resistant) hashed passwords. One unique feature is there is no "account" to steal.  Each sale is unique and independent. The transaction password limits access to the status page but that is not editable.  Once a sales order is created it can't be altered by you or anyone else.  Verify information in the sales order is accurate before depositing coins.  If you make a mistake on a sales order just make a new one. Unfunded orders expire after 15 minutes.

Support thread:
https://bitcointalk.org/index.php?topic=90192

Locked historical thread for past client feedback:
https://bitcointalk.org/index.php?topic=85395

I would point out that less than 10% of clients leave feedback for privacy reasons but you will note not a single dispute since we started. We will work with you to make every sale right.
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Raoul Duke
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June 27, 2012, 02:08:34 PM
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Can you please clarify on the Paypal fees? Here you say it's ~3%, but AFAIK Paypal will charge $0.35+3.25% and you also charge 1% on the site, so it doesn't seem to add up, or am I missing something?
Nonetheless, 4.5% is way better than 6%, can't really argue that, as it's a fact Tongue

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June 27, 2012, 02:28:19 PM
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zomg...

goodbye gox, hello fastcash!

TangibleCryptography
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June 27, 2012, 03:14:03 PM
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Can you please clarify on the Paypal fees? Here you say it's ~3%, but AFAIK Paypal will charge $0.35+3.25% and you also charge 1% on the site, so it doesn't seem to add up, or am I missing something?
Nonetheless, 4.5% is way better than 6%, can't really argue that, as it's a fact Tongue

We cover all PayPal fees.  The payout amount on the confirmation page shows your funds after fees (the "spendable" money in your PayPal account).

The reason we say ~3% is we buy BTC at the price listed on our website.  It will be at a discount to MtGox last price and that discount is on average 3% but it varies dynamically based on the balance of our accounts (available USD vs available BTC).

If there is an additional fee for a particular payout option it will be listed on the order fee.  PayPal has a 1% fee deducted, an ACH is free, and a domestic bank wire is a flat $25.
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June 27, 2012, 04:11:27 PM
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Ok, got it.

Free bump for you as it is a superior service, no doubt about that.
Not as instant, but to save 3% on the fees it's worth it to wait a couple hours.

TangibleCryptography
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June 27, 2012, 09:30:41 PM
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To make the "announcement" something worth announcing we are dropping the 1% fee for the next $5,000 $5,000 $4,400 $3,800 $2,700 $600 in PayPal payouts.

It likely won't last long.
TangibleCryptography
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June 29, 2012, 01:48:46 PM
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Down to the last $600 in the "no fee" PayPal promotion.   If you need to sell some coins act fast and get 1% more.
bracek
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June 29, 2012, 03:30:01 PM
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bit pay and you recently started cooperating with paypal,
don't get screwed,
it looks to me that paypal has found some way to f**k with bitcoin,
and now are luring you into a "good deal"

this is actually a bearish midterm sign, in my view...
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June 29, 2012, 03:35:14 PM
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I hope you guys have lots of accounts that aren't easily connected...PayPal doesn't care if you use an account for nothing but sending, they'll still freeze it arbitrarily and hold your money hostage.  Just look at what happened to Inaba, who was quite low volume since it was only miners using it, not a direct conversion open to anybody.

R.I.P. BTC Guild, 2011 - 2015.
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TangibleCryptography
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June 29, 2012, 10:08:49 PM
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Quote
Down to the last $600 in the "no fee" PayPal promotion.   If you need to sell some coins act fast and get 1% more.

And it is gone. 
PayPal still available but standard 1% fee applies. 
No fee on company check, ACH, or Dwolla.
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