Topic: How i made $1000 in a week selling bitcoins with coinbase and paxful (Read 5930 times)

Do you have any sources that show Paxful "controls" 5% of the bitcoin block chain? Sounds like some Paxful insider information for me... wink wink

To be honest i find yours and everyone else's acquisitions of my website being unsafe toxic. Have a look at a google virus scan for yourself https://www.google.com/transparencyreport/safebrowsing/diagnostic/#url=northyorknews.com
and i simply shared the method because i have finished using it. Paxful controls 5% of the bitcoin block chain to those who think its just a scam site. It is also heavily backed by backpage.com which is one of the top classified websites online.

I would not trust that link ... when you have such a good method to earn money, it is hard to think why would you share it in a public forum.

Is difficult to me, find out who is more guilty in this story. Of course it is scammer, but it looks like car buyer should to be more careful and not deposit money on account that is not "car seller" account.
In my opinion he is very lucky that Wells Fargo gave him cash back.

It doesn't looks to be a complete scam, but it won't gonna benefit us in any means. Just we are helping him promote his service free.

No one likes these stories. It sucks. This is how he lost the money: someone did an order with him to buy bitcoin, and the cash amount was $8000. The buyer turned out to be some cash scammer who convinced someone that they were buying a car on ebay--convinced them to deposit $8000 into his Wells Fargo account to pay for the buyer's bitcoin. Paxful doesn't have (or didn't have) protections against this--especially when experienced cash traders *know* that Wells Fargo tellers can and will return the cash to the buyer if they believe the buyer was scammed. And that's exactly what happened: after he told Paxful the order was paid for and the buyer got the coins, Wells Fargo gave the cash back to the customer.

Nothing like this has *ever* happened on Wall of Coins and we've been running strong >18 months serving the bitcoin community. We are very aware of this and have implemented a software security intelligence layer and strong businesses process to prevent such things. I'm just venting, because I wish other companies would put the security of their users first. The customer who lost $8000 using Paxful contacted me, frustrated with this happening on their platform and desperate to find out if there was anything he could do. I gave him the bad news, and he found out shortly that Wells Fargo was terminating his account

People reading this should just learn from what happened to him.

I do not like such stories, and certainly I will not be trying this method. However, i'm interested what the threat might be to use the PAXFUL service?
How would anyone lose money whilst using their services? Are you suggesting that the whole project is a scam?

Probably best way for success is sell people story about your success!
I have watched one merchant on youtube he talked for about 2h long just to
motivate you to bay his product at the end. Hilarious!

...you're screwed in that case, basically. the problem with all of the cash-based exchanges that I've seen is that they do not do much to protect their seller's banking relationship, nor do they do much to protect their seller's from a cash reversal. This is entirely possible, and while we didn't have a 100% perfect beginning, we've sure as hell have had a perfect record for over 6 months!

My suggestion to the OP author:

• Don't let Coinbase know---it's against their terms of service and they will stop selling to you
• Check out what people have said about Wall of Coins, and use https://wallofcoins.com---our system is hyper focused to save you time and earn you more, while our beginning roots and entire purpose is to be your firewall against harmful cash fraud activity.

Soon we can expect such a post. Even a topic might get initiated " I lost certain dollar using PAXFUL ". Any suggestions or support to get back the lost bitcoins worth of some dollars.

I wish one of the https://wallofcoins.com users would post "How I lost $8000 selling on Paxful". In fact, I'll see if he has a bitcointalk.org account....

Uhm what? You seem like you have a paranoid nature, i was just sharing my method i care nothing about loans i have my own money
But thanks for attacking  me with false accusations and utter nonesense it gave me a laugh

Actually, I believe we dealt with this guy before under another account talking about the exact same stuff.  He just wants to puff up things so that he can sucker someone later into a loan, if I have not just stopped that loan attempt it will appear in about a week.  It will be led into with a full week of how well he is doing, how much cash his methods make and then a story about a mistake in a server or an online wallet that has his BTC stuck and then a sorrowful "If I only had just one more BTC right now I could make hundreds if not thousands".  Let us hope that I shot that bird in the butt and this post will only be followed by whining and disbelief, maybe an insult or two.

some one has already try this "method"?!
I see people selling paxful account for a 0.1 btc each!

why not simply paste the method here ?
why do u want us to click on another link ? 

It's not that difficult to leak through your security and bypass with a website. There are scripts, and if you have something that can potentially be abused, it's quite easy to get a virus.

Sigh your guys perceptions on computer security is so warped, this is not the 90s "headdesk"

"website" & "Virus" don't go together. If you're scared, don't download anything. As far as I know there are no Java drive bys available publicly so if this guy had access to one he'd obviously he much smarter in using it.
Update with paxful: To create an offer you need a minimum of 0.2 BTC in your wallet (Paxful wallet/address) that does NOT include escrow. Not sure why they implemented that, seems stupid.

Apparently there was a Coinbase ref link on the page, but I cannot confirm at the time of writing because the 1st reply made my heart jump and so I closed the link fearing a virus. He linked it to an external webpage maybe because the forum doesn't allow ref spam. IDK


Edit: It involves buying (bitcoins) thru coinbase and selling it via paxful (it's a p2p platform) to fiat at a discount. I haven't heard of paxful before, is it new?

Congratulation to you success. What is exactly reason to publish it here with a link?
If you have good experience spend a time and write good review of it. Explain what are benefits and weakness. This way you can propagate whatever you want.

Paxful is an amazing website

Hi, Paxful admin here!
There is no harm in the link, very simple tutorial. Actually OPs main intention was his Coinbase ref link in tutorial.

Selling bitcoin online directly to other people brings many risks on sellers side because of chargebacks from buyers if you sell with payment methods that are tied to credit cards such as Paypal, invoices, payment processors. Set your premiums higher so you could cover your losses as selling with high risk payment methods some scammers would still get through your verification process. Check current sellers on Paxful with these payment methods and what their offers terms are so you would get idea what kind of verifications they require from buyers.

Other more safer options to sell bitcoins are gift cards, bank cash deposits in US, Western Union, Moneygram. Only thing that sellers are not sharing openly is how you convert back to cash/bitcoins your payments received from buyers like gift cards, Paypal balance etc. Start little and with time you will find out all these methods. Some of sellers are doing well over $100k monthly volume in sales.

Very very soon we will come out with our affiliate program where the payouts will be 20x more than any current affiliate program in bitcoin space!

me the same... why not post here?
anyone could take an idea quickly...

I suppose you can say that about anything when accepting paypal or a credit card.  If everyone came from that viewpoint the economy would seize.  Every store would be like I'm not accepting your credit card you might file a claim and then no business would ever get done lol.  I mean as long as you have the blockchain transaction showing the bitcoin was received and the paypal receipt I don't get how paypal would side against you.

Can you post your proof of earning? the tx? But I have to say paypal trading is risky. You have high chance of getting chargeback. I don't know about paxful! It seems similar to localbitcoin? But I never try it!

I am not clicking on that link!!

Hello everyone this is my guide on how i made $1000 in a week buying and selling bitcoins on paxful
http://northyorknews.com/how-i-made-1000-in-a-week-selling-bitcoins/