Buying bitcoins by paypal | Bitcointalksearch.org

harizen

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Quote from: PersonG on August 26, 2018, 12:21:43 AM

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

Analyze first all online offers (payment option) available at your county on LocalBitcoins and see if there's other method there that convenient to you aside from using directly your Paypal.

Since you want to use your Paypal funds, I will assumed your bank account was attached/linked to your Paypal then you may withdraw your cash from there. Then deposit your fiat to your local crypto exchange if any or to other available offers at localbitcoins (that's why I mentioned that you must analyzed first all options).

Lots of work but you can save fees here way better than a direct Paypal payment on which you also aren't sure if you will face problems using them.

gentlemand

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Quote from: Conasse on August 30, 2018, 04:13:59 PM

What is Virwox doing to prevent chargebacks exactly? I am surprised they didn't get their account limited so far

When you buy Bitcoin through there what you're actually paying for with Paypal is a virtual world currency - Linden Dollars - not a cryptocurrency. You then swap the Linden Dollars for BTC on the Virwox platform.

Paypal doesn't restrict virtual world currencies as they're not regarded as 'real' money. Virwox have also been doing Paypal/ Linden Dollars since before BTC existed.

As for chargebacks I presume they only deal with verified accounts and customers and have fairly low limits. The huge fees make up for any successful attempts. If it was a plague they would've stopped doing it a long time ago.

Conasse

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I know of
virwox
- next to localbitcoins, this one has the highest volume so you can easily get a btc-pp / pp-btc trade in no time.
What's good in virwox is that they do something to prevent chargebacks on paypal funds. You can read more if you visit their site.

Hi
What is Virwox doing to prevent chargebacks exactly? I am surprised they didn't get their account limited so far

timerland

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Quote from: PersonG on August 26, 2018, 12:21:43 AM

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

You're unlikely to ever get suspended if you're using a third party site to buy coins. If anything, the site is the one that is taking most of the risk when selling bitcoin to you. You're not as likely to get your account limited at all. Established sites like Virwox shouldn't have any issues.

If you're trading p2p then it's a different story. I'd say you still got a moderate chance of getting limited, provided that you do trade with sufficient volume, and consistently have funds going out for crypto purchases. Once paypal finds out they could certainly block your account on the grounds of a terms and conditions violation.

I'd honestly not even buy BTC with paypal if I had alternative ways to do it. Paypal rates are consistently one of the worst. Use cash deposit and bank transfer. Not only will you get better rates, you don't need to worry about all this either.

leowonderful

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You can't be sure that whatever funds you receive from anyone are safe until rougly 180 days after you've received the funds, so make sure you're doing transactions with trusted members and sites whenever possible to ensure you're minimizing the risk of someone disputing a transaction.

I tend to do transactions from BTC to PP on this site. It's fast and easy, and rates are decent if you trade with the right people. I haven't really had significant uses yet trading on these forums, and I don't expect to find any in the future.

Zocadas

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Quote from: jacee on August 27, 2018, 11:32:10 AM

Quote from: Zocadas on August 26, 2018, 04:16:37 PM

This question brings me to another one. Does anyone know trusted service buying bitcoin through paypal? I saw good services, but none of them pays out to PayPal.

I know of
virwox
- next to localbitcoins, this one has the highest volume so you can easily get a btc-pp / pp-btc trade in no time.
What's good in virwox is that they do something to prevent chargebacks on paypal funds. You can read more if you visit their site.

etoro
- this one is for non-us. Unfortunately, the btc you bought here can not be widthrawn. It's like a trading platform where you can only trade the btc inside and you can withdraw it by converting it back to fiat.

wirex
- a very popular option and have a smaller fees compared to others on this list.
downside tho is exchange is not instant. You'll need to wait for days.

and paxful
- site is very much similar to local bitcoins but with less traders so less offers.

I rarely trade btc - paypal or the other way around so I haven't use any of the sites I mentioned. When I trade I am only looking for trsuted people here in forum to avoid extra fees.

Awesome list. I know a few of them, but not all. Many thanks for your descriptions.
I think, the BTC to PayPal thing is not solvable, because of the 180 days rule.

magneto

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Quote from: PersonG on August 26, 2018, 12:21:43 AM

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

You could still face issues.

Paypal has never been pro-bitcoin and I wouldn't be surprised if bitcoin was actually thought of as some sort of competitor to paypal's business. In Paypal's terms and conditions, they even list "currency exchange" as a prohibited activity. Check it out yourself: https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full#prohibited-activities

You're unlikely to get found out and suspended straight away, but eventually there is a high likelihood that your paypal account may get frozen or something like that happens to you. I'd be cautious if the Paypal account is of importance of you. Based on the same policies, exchanging paypal for other payment processors is technically against their T&Cs as well. A way around this I guess would be Virwox, as you're technically selling digital goods, not currencies.

shield132

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Users above me already told you some methods but still if you aren't able or don't trust others in this task or fees are very high, don't do everything directly. For example if you have funds on paypal, offer others to buy things for them and ask them to pay you in bitcoins, there are a lot of people who are willing to agree your offer. Selling bitcoins for paypal may be hard for you, maybe because of no trust.

BitMaxz

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I think you can use some bitcoin debit/prepaid cards to withdraw PayPal funds and exchange it to bitcoin.

Check this method https://uquid.com/blog/2016/09/paypal-to-bitcoin

Or if you are looking for a trusted member here to buy bitcoin with paypal I recommend this https://bitcointalksearch.org/topic/buy-here-bitcoin-with-your-paypal-zelle-bank-payment-2417495

The forum account rank position doesn't matter, but you must verify that you own the Paypal account.

jacee

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Quote from: Zocadas on August 26, 2018, 04:16:37 PM

This question brings me to another one. Does anyone know trusted service buying bitcoin through paypal? I saw good services, but none of them pays out to PayPal.

I know of
virwox
- next to localbitcoins, this one has the highest volume so you can easily get a btc-pp / pp-btc trade in no time.
What's good in virwox is that they do something to prevent chargebacks on paypal funds. You can read more if you visit their site.

etoro
- this one is for non-us. Unfortunately, the btc you bought here can not be widthrawn. It's like a trading platform where you can only trade the btc inside and you can withdraw it by converting it back to fiat.

wirex
- a very popular option and have a smaller fees compared to others on this list.
downside tho is exchange is not instant. You'll need to wait for days.

and paxful
- site is very much similar to local bitcoins but with less traders so less offers.

I rarely trade btc - paypal or the other way around so I haven't use any of the sites I mentioned. When I trade I am only looking for trsuted people here in forum to avoid extra fees.

gentlemand

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https://wirexapp.com/guides/bitcoin-payments/buy-bitcoin/

You can also buy Bitcoin with Paypal through Wirex. Whether you're eligible or not depends on where you live. I think it's for Europeans only.

LeGaulois

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Paypal doesn't support currency exchange activity (crypto or not doesn't matter) but if there is nothing showing the payment that's related to a crypto exchange, it's fine. Of course, if the merchant name is showing IsellCrypto, with a website IsellCrypto.com this is different. As for your case the seller has much risk than you.

Zocadas

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This question brings me to another one. Does anyone know trusted service buying bitcoin through paypal? I saw good services, but none of them pays out to PayPal.

gentlemand

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Welt Am Draht

Apart from Paypal maybe not liking it, your only problem will be paying a horrific premium. Virwox is the longest standing Paypal option and that's seriously expensive. Localbitcoins might attract a minimum of a 15-20% premium over other methods.

If it's literally your only option then go for it. At least there's little to no risk compared to selling it for Paypal.

hugeblack

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Selling Bitcoin using Paypal against Paypal Terms of use, so you will not find a platform that supports buying or selling directly.

Quote from: ?? on ??

-snip-

This is an attempt to scam, if you are serious, share it for free and wait for donate.

[1] https://www.virwox.com
[2] https://www.buybitcoinworldwide.com/en/buy-bitcoin-paypal/

PersonG

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Quote from: Crypto_Sassy on August 26, 2018, 12:27:53 AM

Quote from: PersonG on August 26, 2018, 12:21:43 AM

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

Somebody stupid will buy from you then if that person is not anyway in your friend or relative circle. Why somebody will do irreversible transaction(sending bitcoin) for paypal (reversible transaction). I do not see any trust in your profile too.

You should read my question again I`m not asking anyone to sell bitcoins I`m not buying bitcoins here until now.

Crypto_Sassy

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Quote from: PersonG on August 26, 2018, 12:21:43 AM

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

Somebody stupid will buy from you then if that person is not anyway in your friend or relative circle. Why somebody will do irreversible transaction(sending bitcoin) for paypal (reversible transaction). I do not see any trust in your profile too.

PersonG

newbie

Activity: 54

Merit: 0

Hi

Will I face problems if I start buying bitcoins by PayPal in localbitcoins I know when I am the seller (receiver of money) PayPal will ask what i`m selling and may close my account but what if I`m the buyer( sender of the money)?

Topic: Buying bitcoins by paypal (Read 252 times)