Bitcoin<--> Paypal via Spendbitcoins.com

[epsillion]

Just traded bitcoins for paypal on spendbitcoins.com . Was very satisfied and will do it again no problem. did it last night there was an issue and jeremy fixed it immediately . Excellent service. No more getting ripped off on ebay selling bitcoins as long as this service is up and running.

[Stephen Gornick]

Just traded bitcoins for paypal on spendbitcoins.com . Was very satisfied and will do it again no problem. did it last night there was an issue and jeremy fixed it immediately . Excellent service. No more getting ripped off on ebay selling bitcoins as long as this service is up and running.

Cashing out through SpendBitcoins costs the 2.9% + $0.30 though, which is fantastic if there's no other option where you can cash out without worrying about getting scammed.

To avoid that fee though you might also want to consider trading on the #bitcoin-otc marketplace.  There are often buyers who would like to pay using PayPal and have a trust history rating on the #bitcoin-otc Web of Trust (WoT).  Often the rates offered are 1:1 versus market MTGUSD or at the current market price.

 - http://www.bitcoin-otc.com
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://bitcoin-otc.com/trust.php

[paulzag]

Cashing out through SpendBitcoins costs the 2.9% + $0.30 though, which is fantastic if there's no other option where you can cash out without worrying about getting scammed.

To avoid that fee though you might also want to consider trading on the #bitcoin-otc marketplace.  There are often buyers who would like to pay using PayPal and have a trust history rating on the #bitcoin-otc Web of Trust (WoT).  Often the rates offered are 1:1 versus market MTGUSD or at the current market price.

 - http://www.bitcoin-otc.com
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://bitcoin-otc.com/trust.php

I'm one of the buyers on #bitcoin-otc who has a good Web-of-Trust rating and pays Mt.Gox USD rates.

 - http://webchat.freenode.net/?channels=#bitcoin-otc
 - http://bitcoin-otc.com/viewratingdetail.php?nick=paulzag

We don't bite (well not much anyway).

[OgNasty]

Anyone else been using this?

[antares]

I've been using this a couple times, I trust Jeremy West. I also have done business on other things with him.

My last paypal order got stuck in the system though, dont know what happened, I waited 3 days, then I sent him a mail, the situation was corrected within 2 hours(I was mailing him during the evening, so it was night at his location, so the delay is ok). This has been a single incident though, and I'm very happy with the resolution. All my other transactions always got handled properly, so I'd 100% recommend him again.

Jeremy West is kind of the Yankee(Bitinstant guy) of Australia - honest, friendly and does very good support!

[coineta.com]

I created a site www.coineta.com hosted where I live in Canada. The idea is to create fully decentralized exchange. Of cause having it web based will not make it truly decentralized but it would be easier to test this concept before taking a step forward. The difference from other sites is that I don't have accounts with PayPal so they would not be able to shut me down

For now I just plugged in Canadian and US Paypal support. If you outside of North America it will not work. If I see there is an interest I can add Dwolla and other payment processors. Gradually I would have to build a trust for people to use the site. But anyone can try it now to exchange few cents. You can even create brand new unverified Canadian PayPal account and try it. I would appreciate for any feedback

[miernik]

Well, I registered at the site, and....

Enter Trade

Coineta needs passwords from both senders to guarantee that money were send from both of them. Passwords are never stored and only cached in memory for the duration of the trade.

Oh well, tell me, do you have a fresh, brand new IP address, not used on any other Paypal account, for each Paypal account users use on your site?

You know what Paypal will do when they notice the same IP address logging into lots of different accounts? They will close the accounts, request ID + utility bill for each of them and freeze the funds for 180 days.

That's what will happen.

Unless you are really clever and assign an IP address to each account, and log-in only from that unique IP address, also a unique web browser User-Agent string, and other stuff that browsers present.

[yochdog]

Just traded bitcoins for paypal on spendbitcoins.com . Was very satisfied and will do it again no problem. did it last night there was an issue and jeremy fixed it immediately . Excellent service. No more getting ripped off on ebay selling bitcoins as long as this service is up and running.

Jeremy is awesome.  You won't find a more honest trader. 

[coineta.com]

Hi Miernik

That is a good point. My next step is to tunnel SSL through applet in the browser or better to create desktop client application similar to Skype. Currently I am using multiproxy tunneling SSL through secure proxy servers located in US and Canada. For now if you want to try it - create unverified Canadian Paypal account and deposit there 5 US cents and convert them to 0.01 bitcoin. Or you can sell some bitcoins instead, just put your paypal address as destination without giving out your password

Well, I registered at the site, and....

Enter Trade

Coineta needs passwords from both senders to guarantee that money were send from both of them. Passwords are never stored and only cached in memory for the duration of the trade.

Oh well, tell me, do you have a fresh, brand new IP address, not used on any other Paypal account, for each Paypal account users use on your site?

You know what Paypal will do when they notice the same IP address logging into lots of different accounts? They will close the accounts, request ID + utility bill for each of them and freeze the funds for 180 days.

That's what will happen.

Unless you are really clever and assign an IP address to each account, and log-in only from that unique IP address, also a unique web browser User-Agent string, and other stuff that browsers present.

[MadSweeney]

I also made a btc to paypal transaction on Spendbitcoins.com recently. Jeremy provided an excellent customer service.

[yochdog]

Just traded bitcoins for paypal on spendbitcoins.com . Was very satisfied and will do it again no problem. did it last night there was an issue and jeremy fixed it immediately . Excellent service. No more getting ripped off on ebay selling bitcoins as long as this service is up and running.

Jeremy is the shit.  Just fantastic to deal with. 

[filharvey]

Having issues trying to use the website, keeps going to a server error message.

Phil

[Shadow383]

Had an order briefly stuck in the system, got fixed almost immediately.

But Paypal just froze the funds. I've contacted Jeremy, anyone else here got experience of these problems?

[PayPal]

I break everything I touch!

[OgNasty]

Had an order briefly stuck in the system, got fixed almost immediately.

But Paypal just froze the funds. I've contacted Jeremy, anyone else here got experience of these problems?

Jeremy had me accept an eCheck instead of a typical transfer to my Paypal last night.  A little concerning because of the amount involved, but I trust him so hopefully it is just a temporary setback.  Really would like to see Amazon & eBay gift cards get brought back on there.