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Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I have seen these gain in popularity for awhile now.

Are people interested in a BTC for PayPal exchange section of the forums? I can see it being popular for those members who don't have a bank account for PayPal to withdraw funds (mostly outside UK, US, CA, AU). And for those people who want to withdraw funds to BTC.

Bitcoin is gaining in popularity (I use it everyday), it's easy to get started and more companies are accepting it as a payment option.

Are people interested in this? :ranger:

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I think if the forum were to openly advocate cashing out unverified Paypals via BTC purchases, there would be a noticeable rise in people having their P/P's limited and also a rise in new forum members trying to cash out stolen/phished Paypal accounts.

Just my $.02. Totally up to you, lol.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I'm siding with Phazors on this, it may attract the wrong attention and give rise to illicit activites. In turn making it harder for legitimate stealth users to operate.

But Bitcoin in and of itself, a great currency. Just the whole exchange/cash out, not fond of myself.

Would be nice to see what others have to say though.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Possibly... but there are legit users too with no means of withdrawing funds. I push people daily to marketplaces to exchange PayPal funds for bitcoin because they're in a country where getting a bank account is difficult. Or those users who want to operate with a US or Uk PayPal account but have no US/UK bank account. This would be a good way for those users to operate accounts safely.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

yes, that's a great idea, even if I don't need it right now, I will have to think about that soon.
for those who think this will be mostly used for fraud, please understand what other people need, not only you, and remember this forum is already a great source of knowlege for unexperimented scammers.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

It's a great idea, I also don't believe the limitation drawback people have raised is a legitimate concern. Bitcoin is becoming harder and harder to ignore and you can guarantee a significant % of the userbase of this forum will be utilising it; one way or another.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Make a Prius section, talk about nothing but the wonderful Prius

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Frankly AK, I think you'd be better off getting someone to write you an E-book about cashing out with BTC and then selling the book. That would keep out some of the riff-raff and also allow you to profit on this idea, assuming you could come up with an almost foolproof method.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I really don't think it's worth it, I have tried cashing out Paypal to BTC, and incurred a hell of a loss. Take Virwox for example, you have to cash PP into SLL first, then to BTC, lose a big chunk by time you get BTC. Also with Virwox you have daily limits, and sometimes it doesn't work at all.

There is localbitcoins but the sellers want a sizable percentage to take PayPal and who could blame them.

I personally don't see how legitimate business people can afford to give a big percentage of their profits to buy into an unstable currency like BTC

There are tonnes of better methods used be people " in the know" and it seems like only newbies to stealth ask for paypal to btc options

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Yes interested

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

This method preys on the desperate ones...pathetic

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

So you do not have a bank and you have paypal funds and exchange to bitcoin....so what is the preferred method to then take those bitcoins and turn them in to real cash?

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Maybe for some people, they cant add their bank to their pp, but can in bitcoin so can cash out like that.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

ok, so you go to an exchange and sell your bit and get paid via bank transfer...ok that could work.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

think this is a great idea. actually been looking for a place to do just this

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I'd be interested.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I don't lol, I know this is a mad idea but we could start something where people share their knowledge on a niche without thinking that 10 people around the globe doing it aswell will ruin it for them. Kind of like a....forum:faint:

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

This is really misguiding. I could probably list at least 10 reasons for legitimate, seasoned stealthers to want to incorporate BTC into their everyday practices. It's not for all business types- but for some it's an absolute godsend, perceived risks & all.

Furthermore, just because you don't endorse a particularly method yourself doesn't mean it has no use or should be avoided, and I'm struggling to see any real issues with adding a Bitcoin section. Hell, if you wanted to be extra safe you could have a sticky topic highlighting the perceived risks of such a method.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

It's my opinion and the way I see it, perhaps I don't have enough experience. As I said the methods I have used have entailed losing a hefty percentage, and I cannot see how people can afford to lose so much money just buying bitcoins, why not just buy with card etc?

Also buying Bitcoins with Paypal is always going to be dodgy because of chargebacks.

But by all means if there's a reliable and safe way to buy them with paying less than 5% then i'm all ears!

It might be worth more to people in countries where withdrawing to a card is not possible, I mean given the choice would you rather do?, withdraw cash to card for a small fee - cash in your hand, or buy bitcoin for Paypal?

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Yes

How do you go from PP to BTC?

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

yes, please... very interested..


Enviado desde mi iPhone utilizando Tapatalk

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

But in the US, we can no longer withdraw to a card anymore. We have a lot of non-US stealthers that operate a US stealth with no way of cashing out except buying goods or giftcards or PP to PP. So in these cases purchasing BTC with PP is a good option. You are correct about the percentage sucking ass, but that is something the stealther will have to determine if it is worth it or not.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

There are brokers who will accept a PP payment from you in and give you BTC. But they charge a premium for the service. I assume it is because it can be charged back, just guessing.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Yeah I understand situation there, but as I said I cannot comprehend how people can give a big percent of their profits away like that, though i do not judge....

I would have thought buying stuff would be best option if there's some reason you cant open a US bank account, preferably something that makes a profit.

In the UK we have click and collect, in US I believe you have something similar at Walmart. These options far better I would think.

There are always new websites coming along, and maybe there are new options since I last checked. I can't see Virwox as a long term option, and neither can I see Local Bitcoins as one.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I personally think this is a great idea, something that would really round out the forum.

We all have dealt with paypal accounts for long periods of time and I would hope we be able to spot scammers.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Making a currency exchange: Paypal -> Bitcoin, exchanger may be in an unpleasant situation. Even proven customers can make a lot of problems.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Would be interesting for me. But there should be some strict rules about this section to avoid a tremendous amount of scam.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I think the rule will be trade at your own discretion. But I think there should be an approval process (like account sellers) such that a scammer can't sign up to the forum and begin offering such service right away - as they could then take advantage of other new and naive members of the forum.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

when you buy bitcoins from paypal balance, doesn't the payment go to the sellers paypal anyway? - in which case, if we are talking about people who cannot withdraw to card or do not have a bank...why are we just talking about brokering bitcoins? why cant the broker also offer paypal to paypal to bank transfer or paypal to paypal to main paypal (with bank withdrawal). All would need a hefty premium as it is a risk and it is being done for profit after all....

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

PP to BTC rates usually start at 20% and go up to 50%, because many scammers around, and sellers need to cover potential losses.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

By the way, I do not see why people without US banks continue to use US accounts and suffer over and over. Do all-EU account, but do it at .COM website, change your eBay registered address to US, and be happy withdrawing into cards...

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

I haven't forgot about this idea.. just super busy with things.

Thinking about it more it looks like it's HIGH risk for sellers of BTC.

Personally I would never sell BTC for PayPal funds as the buyer can easily dispute the funds one way or another, it doesn't make much sense, right?

I wouldn't mind an exchange that is safer for the seller however... maybe cashing out BTC for PayPal funds, bank funds, etc. It's not safe the other way around.

We'll still have a Bitcoin section though because that's interesting stuff!

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

This idea is a HIT HIT but you must have an escrow or some other type of verification to verify legit users and make exchanges happen.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Verification is easy and we have a system for that.. I don't think we would have an issue with that at all. It just wouldn't be safe for sellers to accept PayPal funds in exchange for Bitcoin.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Must say this is exciting to even be on the table.

Thanks for considering this, aspkin!

:thumb:


PS.... just adding a bit extra. When the BITCOIN section is up, I strongly suggest reminding posters to not do business with people. We have seen the bad outcomes previously.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Well, as the seller is the one who risks (and offers BTC for PayPal), not the buyer, I suggest allowing sellers to sell BTC for PP, but solely at their own risk. Usually all risk is covered with huge fees (20%+), so I do not see why not to introduce such feature. For me, I am ready to sell and I fully understand all possible risks.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

You might be the Bees knees, muzzle. But the forum has been had the misfortune of sellers doing the wrong thing and buyers lying about transactions,

A blanket reminder helps people to be aware of potential issues.

:peace:

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

Topic seems to primarily revolve around selling BTC for PayPal funds - I think the reverse is also interesting (selling PayPal funds for BTC).

I personally wouldn't sell BTC for PayPal funds, I guess it seems to suit some more than others.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

You can't lie about BTC transaction.

1) seller tells buyer PP price for X bitcoins and his paypal address
2) buyer tells his BTC address and pays with PP
3) seller sends money to BTC address
4) delivery of bitcoins can be checked via tradeblock.com or any similar website
5) only a scamming buyer can open a case via PP, when a seller can do nothing
6) the only scam can come from the buyer - he received BTC and opens pp dispute. So they can't lie to anyone except pp who is so dumb and won't bother checking the transaction.

Re: Are people interested in a Bitcoin for PayPal section? (currency exchange)
 

muzzie,

Re-read what I said

"A blanket reminder to be careful....".

Not going to continue with this.

:peace: