Topic: I want to trade PayPal Cash for Bitcoins, will pay a premium.. (Read 991 times)

Using Family and friends CAN be charged back. Please amend your OP.

Why dont you try localbitcoins if you are willing to pay "premium amounts"?

I doubt it, though I'm not 100% sure. I just looked at their policy, and for mass payments, they only accept paypal from premium and business level accounts

Hm. Does Virwox allow UN-verified Paypal?

In his OP it says he doesn't have a bank account

I know about the charge-backs. I meant why not OP withdraws his money to his bank account and then buy BTC from that? Like using a debit card with circle or coinbase.

Yeah, but if the buyer charges back, the seller's account goes into a negative balance, and they'll harass you to pay it off. If you try transferring money to the bank of the owner, there's no escrow service; thus it's difficult to tell whether or not the buyer/seller will actually follow through.

Friends and family option doesn't protect the receiver

I have found localbitcoins to be the best option.  Bought several thousand dollars worth of BTC on there using PP.

Can't one transfer from PP to their bank accounts? I think that would be the best and safest option, just transfer it to your bank and then buy BTC from it.

Actually, there are people who do this sort of thing on localbitcoins; if the user provides a photo with identification, then the seller has some sort of insurance (the buyer's identity) to provide if there ever is a chargeback. Apparently it can even escalate to court. If people are smart about how the decide to go about the business transaction, it can go smoothly; this would, of course, be contingent on the buyer's cooperation.

Sure lets do paypal, after you did the transfer Ill wait 180 days though to make sure you cant charge back.

We will be done in ~5 years from now.

"Friends and family" is no way to prevent charge back. PP does not allow currency exchange and has ruled against BTC seveal times in the past.

If PP is your only option you should buy something with the funds that can not be reversed (e.g. Steam tradeable items) and sell that in the digital goods section.

ok i see, you only need buy bitcoin, localbitcoins just fits you well. if trading bitcoin, you should go exchange like btc-e lakebtc etc

Hey, I have a lot of money in my PayPal account, and I've been wanting to buy BitCoins for a while now, although I haven't been able to do so as I do not have a bank account meaning my PayPal account is not verified, and you need to verify your account to buy BitCoins with PayPal from proper websites. I essentially want to find someone who is willing to let me send them money from PayPal account (i'm happy to send it as a friends and family transaction if you wish) and in return, you will send BitCoins to my wallet. Of course, I will give you extra money for the transaction, e.g. if the price of BitCoin at one time is '460 USD' I will send you '529 USD' for one BitCoin, which is a 15% bonus payment (we can discuss the bonus more, later on). I'm looking for multiple users, the minimum transaction I wish to complete per user is '100 USD' so if you have at least that amount of BitCoin and are happy to sell them to me, for a profit, via Paypal, email me at: [email protected]

If you are worried about me 'scamming' you, by doing a PayPal charge back, I am happy to select the 'friends and family' option on PayPal when i send the money, this means no matter what, I cannot request a refund. In order to stop myself from being scammed, I want to do the transactions in '20 USD' segments, e.g. if we make a deal where i send you '200 USD' via PayPal, I will send you it in 10 different payments and before I send the next payment, you will need to send me the '20 USD' worth of BitCoins, then I will send the next '20 USD' payment, etc, until the transaction is complete.

I hope to hear back from multiple users, I do not mind what country you live in, or how you acquired your BitCoins, I just want to get some that I can store for a few years and then convert them to real money if they ever go up drastically in price.

Thank You! -p.s. I'm new to this site, so if i'm posting this in the wrong area, or i'm just doing something wrong in general, let me know..