Help On Buying BitCoin with PayPal (Newbie with BitCoin)

[ruckser]

Hello guys,

I am newbie in the forum, i have this little problem i need to ask from you guys as there alot of people in here with experience with PayPal and eBay.
My country where am from is one of the country that are not allowed to receive funds by PayPal we are allowed to send only, What i want to do is buy an eBay & PayPal account from sellers in here then use that account to sell products on ebay but the problem come if i will buy an account i will not be able to withdraw the funds some people advised me to change the money i will have in my paypal into Bitcoin i did a research on buying and selling Bitcoin using paypal and i have found this site https://localbitcoins.com people use to transfer PayPal to BitCoin so my questions to people who have experience in BitCoin (especially using the above site) as a newbie in BitCoin Trading are as follow
1. Is this a good/trusted site for buying and selling bitcoin so i can get the cash in my country??
2. What about there fees/commission they charge example for a $100

3. Is there any other prefered site much good than https://localbitcoins.com for buying and selling Bitcoin with reasonable fees??

[danshan]

LBC is a great site but your paypal account name must match your LBC account name and you will pay a big premium to turn pp into BTC

you sell 100 in paypal you will get probably 70 dollars worth of btc

LBC is the biggest one and has the most users and most competitive prices

your plan is hugely flawed unless you are scamming people with ebay and paypal or you have a 50% or more margin on your buying and selling goods on ebay and even at that your volume would have to be huge to make any money

[ruckser]

Originally Posted by danshan

LBC is a great site but your paypal account name must match your LBC account name and you will pay a big premium to turn pp into BTC

you sell 100 in paypal you will get probably 70 dollars worth of btc

LBC is the biggest one and has the most users and most competitive prices

your plan is hugely flawed unless you are scamming people with ebay and paypal or you have a 50% or more margin on your buying and selling goods on ebay and even at that your volume would have to be huge to make any money

Why they charge big to turn pp into BTC?? there is no other site that charge fair fees?? $70 from $100 that is 30% if am not wrong.

[MM78]

Originally Posted by ruckser

Why they charge big to turn pp into BTC?? there is no other site that charge fair fees?? $70 from $100 that is 30% if am not wrong.

People are taking a risk selling your BTC via PayPal....so people have to charge a high fee...it's that simple!

If you can find a site that charges less, this forum would like to know about it....when you find it of course.

[MM78]

Originally Posted by ruckser

Why they charge big to turn pp into BTC?? there is no other site that charge fair fees?? $70 from $100 that is 30% if am not wrong.

I just told you why they charge a high fee.....read my response again!

[ruckser]

Sorry @MM78 i am having double post i don't know what is wrong with my PC, If i comment my post wont display so that is why am having double post.

[ruckser]

Originally Posted by MM78

People are taking a risk selling your BTC via PayPal....so people have to charge a high fee...it's that simple!

If you can find a site that charges less, this forum would like to know about it....when you find it of course.

If that is the reason i don't think if there is site exist with low fees.

[phaz0rz]

Originally Posted by ruckser

If that is the reason i don't think if there is site exist with low fees.

You won't find any lower rates than localbitcoins. Huge risk accepting a reversible payment method for BTC sales. That's why the fee is so high.

[nickopedia]

Originally Posted by danshan

LBC is a great site but your paypal account name must match your LBC account name and you will pay a big premium to turn pp into BTC

you sell 100 in paypal you will get probably 70 dollars worth of btc

LBC is the biggest one and has the most users and most competitive prices

your plan is hugely flawed unless you are scamming people with ebay and paypal or you have a 50% or more margin on your buying and selling goods on ebay and even at that your volume would have to be huge to make any money

That right there ^

Unless you have MASSIVE margins on your goods or otherwise can absorb 20-30% (or more) of your profits AFTER PayPal and EB fees, this is a terrible idea. People can't help wonder what you've got to hide or absolutely want your money in BTC at all.

[okay]

Originally Posted by nickopedia

That right there ^

Unless you have MASSIVE margins on your goods or otherwise can absorb 20-30% (or more) of your profits AFTER PayPal and EB fees, this is a terrible idea. People can't help wonder what you've got to hide or absolutely want your money in BTC at all.

Huh? I play at the Bitcoin casinos . Depositing and withdrawing is instant, bank wire transfers take ages. Wonder now.

[rsot]

Originally Posted by okay

Huh? I play at the Bitcoin casinos . Depositing and withdrawing is instant, bank wire transfers take ages. Wonder now.

Bitcoin casinos, okay? Am I missing something - I don't follow

[ruckser]

Am out of option and ideas!!!!!!!!, There are no people or company in US that i can send them my money via PayPal to PayPal then resend the money to me via Western Union or any other Money Transfer like Perfect Money, Payza, Skrill etc???

[okay]

Originally Posted by rsot

Bitcoin casinos, okay? Am I missing something - I don't follow

Yes, online Bitcoin casinos. Speaking of, I noticed some big hotel chains now accept Bitcoin (Hotels . Com)

[rsot]

Originally Posted by ruckser

Am out of option and ideas!!!!!!!!, There are no people or company in US that i can send them my money via PayPal to PayPal then resend the money to me via Western Union or any other Money Transfer like Perfect Money, Payza, Skrill etc???

There are people - you will need to pm wise members and hope for guidance. Keep in mind that there might fees depending on who and what.

[ruckser]

Originally Posted by rsot

There are people - you will need to pm wise members and hope for guidance. Keep in mind that there might fees depending on who and what.

That is a good idea let me try to ask for a help.

[thespitefulchant]

so can you buy BTC with stealth paypal money??

that is the #1 answer!

[BaggaDonuts]

Originally Posted by MM78

People are taking a risk selling your BTC via PayPal....so people have to charge a high fee...it's that simple!

If you can find a site that charges less, this forum would like to know about it....when you find it of course.

Also the huge fluctuations lately with BTC bumps up the spread on BTC:USD for a PP cash out. Most of the big sellers require info and docs to be compliant with anti money-laundering requirements. So good luck selling to those guys from a stealth account.

[Breakthecycle2]

I've bought a ton of BTC with a real account on paypal. 9 out of 10 people will ALWAYS ask for a selfie with an ID with your name. The ones that dont, typically will only sell a limited small number of BTC to you. I've dealt with about 12 people on LBC and only one didn't care about the ID.

[Breakthecycle2]

For the record there are many other sites that you can buy BTC with paypal, but I don't know too much about that.

To echo as everyone said, they do require some sort of ID, too much laundering going on when it comes to that.

I mean it is feasible, if you have no other option to cash out, but the fluctuations in BTC price is unappealing.

[aspkin]

Just don't hold BTC. Exchange to USD right away and withdraw if you don't want to hold it.

I'd like to see a BTC PayPal Exchange here in the forum.

If you're interested in being a exchanger send me a PM.

[rsot]

Originally Posted by aspkin

Just don't hold BTC. Exchange to USD right away and withdraw if you don't want to hold it.

I'd like to see a BTC PayPal Exchange here in the forum.

If you're interested in being a exchanger send me a PM.

Epic move on your part bigboss