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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
| ruckser | 08-24-2017 01:10 PM |
Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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 | 08-24-2017 01:33 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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 | 08-24-2017 01:44 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by danshan
(Post 867527)
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. |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by ruckser
(Post 867532)
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. |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by ruckser
(Post 867536)
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 | 08-24-2017 01:56 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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 | 08-24-2017 01:58 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by MM78
(Post 867534)
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 | 08-24-2017 02:05 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by ruckser
(Post 867543)
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 | 08-24-2017 03:31 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by danshan
(Post 867527)
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. |
Quote:
Originally Posted by nickopedia
(Post 867565)
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. |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by okay
(Post 867610)
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 | 08-25-2017 05:47 AM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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??? |
Quote:
Originally Posted by rsot
(Post 867612)
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) |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by ruckser
(Post 867680)
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 | 08-25-2017 06:27 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by rsot
(Post 867692)
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 | 08-27-2017 06:17 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
so can you buy BTC with stealth paypal money??
that is the #1 answer! |
| BaggaDonuts | 08-27-2017 06:37 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by MM78
(Post 867534)
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 | 08-27-2017 07:59 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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 | 08-27-2017 08:00 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
For the record there are many other sites that you can buy BTC with paypal, but I don't know too much about that. |
| Nephilim | 08-27-2017 08:02 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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 | 08-27-2017 10:09 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
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. |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by aspkin
(Post 868164)
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 :thumb: |
| ruckser | 08-29-2017 05:29 AM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by aspkin
(Post 868164)
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.
| Aspkin great move bro, It will be great and very helpfully for international member like me and others too especially from Africa where many of our countries are not allowed to receive money VIA PayPal, Please encourage people to add PayPal to MoneyGram or PayPal to Western Union exchanges that will be very appreciated tho i don't see many members from Africa, i tried to do research 3rd party exchanges they charge around 25% to 20% that have very few different from PP to BTC, hope you will consider my idea bro. :juggle: |
| dachilla | 08-29-2017 09:19 AM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
I think we all should all move forward against paypals monopoly and just stop accepting it. Only cold hard crypto cash. Cryptos to the moon!
Back to the question: virwox might be an alternative, I guess you lose "only" 15% when you use them as an exchange.
Cheers |
| Jamsym | 09-09-2017 05:02 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by aspkin
(Post 868164)
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.
| Paypal to Bitcoin is really tough.
Virwox is probably the best bet.
I listed Btc for sale on ebay as a test selling for effectively £9000 per BTC when it was worth around £3k. Out of ~20 sales 17ish were hacked PP/Ebay accounts. Even for amounts as low as 0.0001 BTC for £8.99
To trade like this on the forum you would have to implement some rules such as being a member for 12 months etc at the minimum.
BTC to paypal just attracts scammers/hackers |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
My friend just create a stealth account in one of the countries that accepts PayPal withdrawal to Visa. Buy a prepaid Visa card that can be used to withdraw cash and link it to your PP.
Whenever you have an amount to be transferred, just withdraw to your Visa. in 2-3 business days you will get your paypal withdrawal ready on your Visa. Go to any ATM and withdraw. As simple as that:) Enjoy
P.S. I am currently doing this. |
| natashaiera | 09-11-2017 08:41 PM |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by PPbb
(Post 870768)
My friend just create a stealth account in one of the countries that accepts PayPal withdrawal to Visa. Buy a prepaid Visa card that can be used to withdraw cash and link it to your PP.
Whenever you have an amount to be transferred, just withdraw to your Visa. in 2-3 business days you will get your paypal withdrawal ready on your Visa. Go to any ATM and withdraw. As simple as that:) Enjoy
P.S. I am currently doing this.
| But won't you need to live in the same country that you open the PayPal account in in order for it to work? |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by natashaiera
(Post 870898)
But won't you need to live in the same country that you open the PayPal account in in order for it to work?
| No you don't have to be residence of that country. |
Re: Help On Buying BitCoin with PayPal (Newbie with BitCoin)
Quote:
Originally Posted by PPbb
(Post 870768)
My friend just create a stealth account in one of the countries that accepts PayPal withdrawal to Visa. Buy a prepaid Visa card that can be used to withdraw cash and link it to your PP.
Whenever you have an amount to be transferred, just withdraw to your Visa. in 2-3 business days you will get your paypal withdrawal ready on your Visa. Go to any ATM and withdraw. As simple as that:) Enjoy
P.S. I am currently doing this.
| You need to be more specific with your advice, otherwise people assume it's easy and it can be done easily. |
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