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Paypal stealth cashout to bitcoin service.
 

Hi guys.

I just wanted to get a take on why someone would want to cashout their stealth paypal accounts for ebay with bitcoin at a (15 - 30% loss currency conversion) when they can easily get a new bank to transfer the money to.

I seen the new service offered by a seller on here offering this and was wondering why it seemed popular.

I have about 30 bank numbers and literally can cancel several and re open with new numbers just for my ebay stealth accounts. Plus paypal never knows your bank name that is associated.

What are some reasons you guys are choosing this route?

Thanks.

Re: Paypal stealth cashout to bitcoin service.
 

maybe some people don't leave in US, they live in countries where it is more difficult to open bank account ?
MAybe some people have US paypal but they live in another country so they can't open US bank account ?

Re: Paypal stealth cashout to bitcoin service.
 

those are good possibilities. I just wonder with ebay + paypal 13% fee and the 20% paypal to bitcoin fee (I asked the seller) , how can those people profit with 33% deducted?

Any other theories?

Thanks tooknapa

Re: Paypal stealth cashout to bitcoin service.
 

1)Emergencies happen.

2)There may be other opportunities that only BTC can buy.

3)People may be in the chexsystem and cannot get bank accounts.

4)Some people may be looking into doing BTC loans and need BTC to start up

5)Others may just want to be as anon as possible

These are the prices you pay for the freedoms of commerce.

Re: Paypal stealth cashout to bitcoin service.
 

probably easier to cash out for BTC too

Re: Paypal stealth cashout to bitcoin service.
 

There will always be people who will be hell bent on buying crypto and accept a 20-30% loss to do the conversion. There is a guy in the marketplace that does paypal to BTC trades, but expect the rate to be in line with the risk.

Re: Paypal stealth cashout to bitcoin service.
 

he's who I'm referring to. He wants 20% which is worth it but 13% more from ebay and I don't see how someone can profit unless they want this for other reasons besides ebay.

Re: Paypal stealth cashout to bitcoin service.
 

Some people are just willing to take that loss

If they sell something at 40% profit even after a 33% cut they still make 7% profit which is better than no profit at all

Its usually a calculated cashing out method. I also expect 20% fee is towards the higher end and most people are getting it at 10% or so

Re: Paypal stealth cashout to bitcoin service.
 

Some countries dont have PayPal, or have recently had PayPal axed, i.e. Turkey.

"PayPal to halt operations in Turkey after losing license, impacts ‘hundreds of thousands’"
https://techcrunch.com/2016/05/31/pa...-of-thousands/

So they resort to opening PayPal in other countries, where they can't also have a bank. So they take the hit.

Of course you'll need the high profit margins to be able to take the hit in the first place.

Re: Paypal stealth cashout to bitcoin service.
 

Crypto-cashing is still relatively new. Not sure if it's super popular as yet though there are some takers - likely more ppl who can't get a bank going for withdrawal.

Re: Paypal stealth cashout to bitcoin service.
 

The MAIN reason you are going to take a 20% hit on the PP to crypto conversion is the high amount of RISK this type of deal entails.

There is nothing preventing you from doing a dispute/chargeback after the deal is done. PayPal is always reversable, crypto is not.

Add to this risk, and you have the endless number of scams out there. Crypto & scams go hand & hand.

Re: Paypal stealth cashout to bitcoin service.
 

6. They are selling counterfeit goods with a huge mark up

7. They are scammers

8. A combination of 6 & 7.

Re: Paypal stealth cashout to bitcoin service.
 

Precisely this. No legit business can afford to lose 20% which seems to be the going rate for the exchange.

Re: Paypal stealth cashout to bitcoin service.
 

Just went through this discussion and will leave just ONE UNIQUE comment.


Well answered!


Also YES.


First of All, Thanks for the irony :)
This statement is absolutely false. I don't have a fixed rate. and I could repeat it every single day.
While some very risky customer might pay fees like 25% or even more, other might pay 15% or even more less.
Many factors apply here like the Age of your Account, the country, the type of transactions, Amounts etc etc
An other important factor is the current market (how is the current demand on the market - I mean on the exchange market - what are the moves etc..).
And I always try to get the best rates for my customers.
Go on sites like Localbitcoins, paxful, I'm sure that my price will not be the highest and I'm sure that the Sellers will not take the time to understand you as I do. They will just give you a Price and tell you what to do, that's all. Just like a bar where you come in, pick up a drink, pay and leaves the place.
Here you receive a SERVICE: This has a value of course.



And Yes, I always take a risk when accepting your (referring to customers willing to exchange their funds for bitcoin) money. I don't always end up the day without being scammed. It's as Risk to consider.
I try to reduce this risk by not accepting everyone as customer.
Not because someone might offer me 50% take out, I would necessary accept. Unlike you think, I will not accept such customers.
It's not just about how much you pay.
That's why I never give my Email before being sure I can accept your money.



I'm sorry man, I just don't agree with this. Not every buyer is a Seller. They are also normal people like YOU and ME who just want to buy Bitcoin and make some profit out of it by trading on platforms like Bitfinex etc. And for privacy reason (Privacy is an universal right), they don't want to use such complicated services like Coinbase.
And not every Seller is a Scammer.
People used to exchange on sites like Paxful and LocalBitcoin, so does it mean they are all scammers or sellings counterfeit?
Guys why do you think that when you sell a product the margin should be low?? I always read that.
Do you know how much margin Apple is doing per iPhone? Do you know their production costs?
If you do a business where your margin is just 2%, then you are just doing something wrong and every business has costs.
A Shop in the street has different costs than an online shop. Anyway, we are not here in a marketing and Sales class :)



And finally to the OP


You claim having 30+ different bank accounts... How is it possible...? I should be more afraid of you.


And NOTE that while people want to get rid of their PAYPAL funds, other really need it for their legit business expenses!!!


For anything else, feel free to PM Me. As said at the beginning, I will just comment once on your thread.

Thanks for your time guys!


P.S: Where are my Bitcoins from? I'm seeing already some speculation going on about it. They are bought directly on Trading platforms like Bitfinex or sometimes from Mining. They are 100% clean.
However, you can still tumble my coins if you have some doubt but really not needed.
And as you have your reasons to manage 30+ bank accounts, other would choose to just exchange it against Cryptocurrencies and take advantage of these ecosystems. Thanks for accepting and respecting their choice.

Re: Paypal stealth cashout to bitcoin service.
 

I haven't used MasterNaster's service yet since I'm not sure if he likes me (I made some kind of comment in his thread about scammers), but if you think about it, there's probably no stealthier way to buy BTC for DNM's. :D

Other than cash in a paper bag to a guy on LBC, I guess. But someone could always access your LBC account and see who've you've been trading with. Not a problem if Naster sends the BTC straight to dream lol.

Nice rebuttal BTW, naster.

Re: Paypal stealth cashout to bitcoin service.
 

No faulting that well thought out reply @MasterNaster

Re: Paypal stealth cashout to bitcoin service.
 

In agreement with this bossman James here

Re: Paypal stealth cashout to bitcoin service.
 

I agree. You'll have black sheep in every aspect of a trade. It's inevitable. Doesn't necessarily mean you pack your bags and stop doing business.

Re: Paypal stealth cashout to bitcoin service.
 

You're entitled to your opinion as I'm entitled to mine.

The majority of the folk buying Bitcoin from you on this forum are doing exactly as I describe. Once you get taken to the cleaners a few times or get your Paypal limited by being associated with so many fraudulent accounts you'll change your mind. ;)

Re: Paypal stealth cashout to bitcoin service.
 

His bitcoin could be worse than the majority of cb's he's taking in. Maybe this is just a way to withdraw his bitcoin into usd. Although there's more chargebacks with paypal, the few that lasts are legit money, while no one knows what kind of linkage that bitcoin has to their verified wallet.

Re: Paypal stealth cashout to bitcoin service.
 

Interesting that you assumed I was afraid of you. Wasn't I just questioning why people would choose this service, not you the seller.


We're taught on this forum to get multiple bank accounts in order to carry out many ebay stealth accounts. This is pretty common knowledge around here, you should buy Aspkins guide lol. I have around 30 niche ebay's.. some on here have more than I do, they're scary I know.

Re: Paypal stealth cashout to bitcoin service.
 

What is DNM phaz0rz ? Also why is it best to send btc straight to dream. Is it okay if I pm you? You seem knowledgeable about this stuff.

Re: Paypal stealth cashout to bitcoin service.
 

I don't know anyone in this thread, so I'm not taking any sides, but just to add to the conversation (and some info for us to consider, which is the whole point of the thread and forum)...

The price of 20% (or anything 10% or higher) makes COMPLETE sense to me... because I'm in the market for some BTC to learn how to use wallets, pay some small things, and get my feet wet. The only "play around" money I have is what I can sell online, and I can buy things for my personal fun with PP much easier than explaining to the Mrs. how $400 worth of parts for a custom mechanical keyboard makes sense when she didn't have snow tires this year.

If I'm going to pay 5-10% to get $200 in BTC, I'd much rather pay 20% (if that's even the price) which is $40 to be able to cash out some PP for it, especially if the seller is Aspkin-approved. I realize this isn't an Aspkin guarantee, but in my book it's a serious bit of peace of mind for me (ie: Aspkin should get his 0.5% for branding). :) At the same time, I wouldn't be involved in selling it for even 40%, so I'm glad someone on here is making it a service available to us.

Everything is about perspective, what works for you might not work or make sense for the next guy. I don't know why some people would buy $300 in Tesla stock when they could just take that same $300 and buy 2 cases of thing-a-ma-jigs on Alibaba and sell them on E*ay and in a month have $900, yet some people do. Or just because you spend $900+ on a new iPhone doesn't mean you are dealing in bad things and need to invest in a phone the law can't get into. Everyone has their own reasons and situations, and they're not always sinister (or greedy) just because it doesn't make sense to me.

I want a paid membership in some forum that only takes BTC, and so that's how I got to looking at learning how to use it in the first place, and I was personally THRILLED when I noticed that an Aspkin-approved seller was one of the choices, regardless of the price.

Re: Paypal stealth cashout to bitcoin service.
 

Why not buy bitcoin just through bank account and get to keep 20% fee. 20% of 5k is 1k giving that away is not just nothing to you I assume. You have stealth paypals, transfer to an online created bank, then use that bank # to buy bitcoin without 20% fee. Why are you opting not to do that? Did I miss something?

I can create an online bank right now in less than 5 minutes.

Re: Paypal stealth cashout to bitcoin service.
 

Yes, you did miss something. A lot of things. I said when it goes from PP --> purchase my wife doesn't see it and I don't have to justify my splurge. If it goes to the bank and then I buy something, I have to explain it and why it was worth the expense.

Aside from that, I'd rather deal with an Aspkin approved guy than learn this on new sources, and if you read my post, you'd also realize I'm talking about $200, not $5,000 which is AT MOST $40 in fees (probably less) and it is easier/faster/simpler for me than to set up a bank account, withdraw the $200, find a place to buy BTC, explain it to the Mrs. and etc...

Go read all the reasons why people might do this that are mentioned in the thread again. There are more than enough there to explain it, if you can't understand why it might work for some people and why it might be worth it for some people after all that, then either you aren't reading the replies or you are just trying to make the service sound bad somehow.

Re: Paypal stealth cashout to bitcoin service.
 

No i mean there may be great reasons for this service just I thought yours was odd. I created like 10 online banks single (no joint) and you can create it in total of 4 mins without anything mailed to your house. Use those banks to take in the paypal money and then buy bitcoin on coinbase , saves you huge 20%.

u say only 200, ok that i see , but most who do this transfer 1,000's. naster limit is actually min of 400 nothing less.

If you're going to work with bitcoin why not do it right with an easy ( 5 mins) single bank on your ssn that your wife never knows nor needs to know about.

On this forum people have 20+ banks. Most online where the #'s go instantly to you.

Re: Paypal stealth cashout to bitcoin service.
 

also.

again .. online bank takes 5 mins not even, instant #'s and no way she can know you have this account or even 20 accounts. and place to buy btc, uhh how about lbc, coinbase, etc buying is easy as hell.

Re: Paypal stealth cashout to bitcoin service.
 

He knows this already. Contact him on telegram and he'll offer you hella "sketchy" services and by sketchy i mean straight up illegal. No wonder he got so mad at our replies.