How to Switch Bitcoin to PayPal? | Bitcointalksearch.org

Fkleppe

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Quote from: gentlemand on June 07, 2018, 07:36:44 AM

You used to be able to do this through Coinbase up until a few months ago and that's the only method I'd ever dream of. Everything else either costs too much or leaves you too vulnerable. Presumably you have a bank account? Sell your Bitcoin into that and load up Paypal from there.

Hmm, I've used them for years but never seen that option Shocked

Hamphser

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Quote from: shield132 on June 07, 2018, 05:43:12 AM

As far as I know you can use bitcoin debit cards and attach it on paypal. For example xapo, when you receive bitcoins, convert them into usd and load your card with usd. At least my local bank offers that service, not actually debit card but can receive bitcoin, convert in usd and do whatever I want.
Another way is localbitcoins or contact someone here as it was already mentioned from other users but be careful because of paypal's refund system.

There are really some local exchangers which do offer this kind of service which you can simply make conversions from your bitcoin to cash and directly put it up into your bank account. This depends on how a certain country do sees about cryptocurrency, if they do become too strict then such implementations isnt possible but for now in the case of my own country they are still allowing it which do really gives convenience for us bitcoins users who are located on here.Going back on topic, i do agree on most people says on here, cash out your fiat first and find on localbitcoins on what would be the payment terms on purchasing your cryptos or bitcoin.

gentlemand

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You used to be able to do this through Coinbase up until a few months ago and that's the only method I'd ever dream of. Everything else either costs too much or leaves you too vulnerable. Presumably you have a bank account? Sell your Bitcoin into that and load up Paypal from there.

shield132

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As far as I know you can use bitcoin debit cards and attach it on paypal. For example xapo, when you receive bitcoins, convert them into usd and load your card with usd. At least my local bank offers that service, not actually debit card but can receive bitcoin, convert in usd and do whatever I want.
Another way is localbitcoins or contact someone here as it was already mentioned from other users but be careful because of paypal's refund system.

Lucius

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Quote from: timerland on June 07, 2018, 03:09:43 AM

The best and safest way would honestly still be to cash out your coins for cash first either on a regulated exchange or Localbitcoins traders, then depositing it into a bank account, then depositing to paypal. You'll get the best possible rates, and there are no risks of chargebacks, especially if you are dealing with amounts above $10k. However, this may be unnecessary for small amounts that value convenience and timeliness over anything.

This is good way to deposit fiat to PayPal, but it is include bank account which is something most people want to avoid just because to avoid paid tax. Maybe OP want to avoid that and convert crypto direct to PayPal account, and if he/she is not USA citizen probably does not need to worry regarding tax. But I agree PayPal is worst method to convert crypto, not just because chargeback of 180 days, but also PayPay can froze your account at any time and in most cases money is gone.

timerland

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My suggestion, if you don't want to go through anything too complicated and you're willing to take on a certain degree of risk, then use one of the trusted currency exchangers such as zazarb on the forum. You're probably not going to get charged back from a very trusted community member.

Virwox works, but you'll either be waiting a long time for your orders to be filled, or you'll get pretty bad rates for smaller transactions. Also the number of steps involved is just too large and extremely complex overall.

The best and safest way would honestly still be to cash out your coins for cash first either on a regulated exchange or Localbitcoins traders, then depositing it into a bank account, then depositing to paypal. You'll get the best possible rates, and there are no risks of chargebacks, especially if you are dealing with amounts above $10k. However, this may be unnecessary for small amounts that value convenience and timeliness over anything.

Anarchist

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Yep exactly the problem, selling your BTC for Paypal is like asking for troubles. I am sure the percentage of chargebacks is over 50%. And I confirm sending as a friend and family is not going to protect you.
Better to deal with someone you really know and trust

magneto

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Quote from: Fkleppe on June 03, 2018, 02:15:18 PM

Quote from: LFC_Bitcoin on June 03, 2018, 01:34:53 PM

The best thing you can do is use a trustworthy escrow here to act on your hehalf. Don’t use Localbitcoins due to the risk of a chargeback. You need to know you’re 100% covered because Paypal - Bitcoin is very risky. There are plenty here who will be able to do it for you.

Yeah, I know. In this video he shows how to use PaxFul. Seems like the sellers there sends it as a gift, which makes it impossible to chargeback.

https://www.youtube.com/watch?v=UiKtw_IPD_M

Even if the seller sends it as a gift/friends & family payment, they still have the ability to charge back. To my knowledge, they are able to always claim that the transaction was sent at a time that their account was hacked, and get the money charged back.

Even escrow doesn't protect you against that. Escrow only protects you against getting scammed during the transaction, not chargebacks.

I wouldn't really deal with paypal at all, if you are trading on LBC or paxful. Unless you're dealing with someone extremely trusted and has a ton of feedback, but even then, it's not risk free. Another thing that you could do is exchange bitcoin to SSL then to USD funds on Virwox. Virwox should be trusted enough, however with all their fees, I doubt it'll turn out to be a good deal.

Bestchange offers a list of exchangers with paypal. They should be trustworthy in most cases, however, you can't count on these sites to be risk free either.

jossiel

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IIRC, unichange.me is from India and it's only good from the citizens there, correct me if I'm wrong with that.

Suggestions about P2P trading with escrow here in forum has given and as well as trading through localbitcoins.

Quote from: hugeblack on June 04, 2018, 04:57:46 PM

I've used virwox.com, the results were good despite the high fees.

This is what I'm about to suggest too, at first if you don't read some articles that has guides on how to convert PayPal money to bitcoin, you can go wrong and convert it the wrong way and can even lose some of its value.

Overall it's a good alternative if you don't have any other choice but that's the consequence, the fee is high.

hugeblack

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Even using reliable service "localbitcoin," the chances of being scammed are still high. "The risk is on you, because PayPal conversions are reversible"
So the general rule for these transfers is "if you do not trust the person you are trading with, it is better to use other ways"
I've used virwox.com, the results were good despite the high fees.

Dudeperfect

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To be honest, this is not the recommended way to trade and thus not everyone who trades in Bitcoin would prefer this method (especially while selling Bitcoins) because one can misuse the Paypal's buyer protection policy and pull funds back even after several weeks of the trade so don't go with it unless you are fully confident about the party with whom you are trading. I know some people who lost their money in this way so please beware.

lizardbtc

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Quote from: LFC_Bitcoin on June 03, 2018, 01:34:53 PM

The best thing you can do is use a trustworthy escrow here to act on your hehalf. Don’t use Localbitcoins due to the risk of a chargeback. You need to know you’re 100% covered because Paypal - Bitcoin is very risky. There are plenty here who will be able to do it for you.

It doesn't really matter if an escrow is from localbitcoins or somebody else here on forum. No matter which escrow you use you are always going to have posible problems with chargebacks as this is how PayPal works. I don't say that there are no trustworthy people here on forum, there are and yet maybe some escrows here could be cheaper but other person who is doing transaction with you can always do chargebacks with paypal.

riplete

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You sell the bitcoin from the floor and enter that money into your paypal account, I think there is only one way.

cryptodalton

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This is the best deal. From bitcoin to USD through paypal. A lot many people are there ready to exchange through paypal.

Fkleppe

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Quote from: LFC_Bitcoin on June 03, 2018, 01:34:53 PM

The best thing you can do is use a trustworthy escrow here to act on your hehalf. Don’t use Localbitcoins due to the risk of a chargeback. You need to know you’re 100% covered because Paypal - Bitcoin is very risky. There are plenty here who will be able to do it for you.

Yeah, I know. In this video he shows how to use PaxFul. Seems like the sellers there sends it as a gift, which makes it impossible to chargeback.

https://www.youtube.com/watch?v=UiKtw_IPD_M

LFC_Bitcoin

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The best thing you can do is use a trustworthy escrow here to act on your hehalf. Don’t use Localbitcoins due to the risk of a chargeback. You need to know you’re 100% covered because Paypal - Bitcoin is very risky. There are plenty here who will be able to do it for you.

Fkleppe

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Thanks for the input. I will just try the 2 from the link.

lizardbtc

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I've never tried them. Localbitcoins might be your best bet as with an escrow and reputable seller it is pretty safe to trade there, with paypal there is always a risk of chargebacks and it is smething you want to have in mind and if possible you will want to avoid this method but actually go for CC if possible or any other method. Another way is to trade via virwox.com webssite might not have the best design but it works, haven't tried this one but according to some reviews it seems promising.

boy130

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Localbitcoins allows you to sell your BTC for Paypal, and usually with a good margin too. Also, check out the currency exchange section of the marketplace here on Bitcointlk, there are plenty of people looking to buy BTC with Paypal, some of them are extremely trustworthy too.

Fkleppe

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Greetings everyone

I was just curious what people recommend to use when I want to switch Cryptocurrency to my PayPal account?

I found https://medium.com/@BinanceExchange/sell-bitcoin-and-other-crypto-to-paypal-skrill-and-other-b929a4cf1cdd, but I wonder if there are any other ways to do it too.

Topic: How to Switch Bitcoin to PayPal? (Read 207 times)