Is it safe to sell bitcoin for paypal like this?

FoxTheHuman

full member

Activity: 238

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Quote from: Nrcewker on July 04, 2017, 10:50:55 PM

No Way.

sell bitcoin with paypal, this thing itself has a high risk, unless you only have business with 1-3 people.

Yes it is very risky, we can lose full paypal in that transaction because they can pay and get their full paypal.

amc4486adam

newbie

Activity: 32

Merit: 0

Be wary who you do business with should see the background information i have on you and your new little car hahahah believe me pal i have a tonnnnneeee on you now Wink

dirty little rotten thief

Quote from: gloryninja on July 05, 2017, 07:13:53 PM

Quote from: MBW_2 on July 05, 2017, 06:24:40 PM

Quote from: gloryninja on July 05, 2017, 06:17:56 PM

Using Paypal to Sell BTC or Buy = 70% chance of a chargeback.

I got chargedback on ebay (not related to bitcoins) , however with/without ebay, Paypal will always side with the buyers. To paypal, you are basically selling "Air" to someone, and that someone can easily claim chargeback. Only way out of this is by getting the buyer to dispute and then, if the buyer is genuine of course.... get the person to close the dispute in favour of you and then he/she wont be able to chargeback again but don't take my word for it.

I hate paypal.

I understand your concerns but this is almost impossible in case of sending funds to friends and family as gift. There is 10% risk if you accept funds via this "channel".

I guess. But be wary on who you sell too. People can use hacked paypals and ive seen threads about this before. With paypal , Always do a background check

Hope the best bud!

bloomjoflly

newbie

Activity: 5

Merit: 0

as marcuslong good says, you need find trusted person. actually paypal is good for trusted each other.
bitcoin for paypal are so risky, even you are selling or buying.
might be you selling well but buyer will charge on you. as a my poor experience paypal always stands by buyer.

JL421

hero member

Activity: 812

Merit: 510

It will be fine and even i had this idea but when asked a trader he said he wouldn't do that which kind if indicated he wanted to scam me. This has happened with me before paypal can escalate the case and if they dispute has to be re opened they do it which most of the time doesn't happen. But what else can happen is they may just suspend your account if no solution can be found

marcuslong

legendary

Activity: 1036

Merit: 1002

It is safe when you people know each other its very hard to sell bitcoin over paypal they can easily disputed the transaction either is for friend and family nowadays its very hard to trust online you should avoid selling your bitcoin to paypal exchange it directly to fiat much more safer imo.

gloryninja

sr. member

Activity: 345

Merit: 250

Trusted Member

Quote from: MBW_2 on July 05, 2017, 06:24:40 PM

Quote from: gloryninja on July 05, 2017, 06:17:56 PM

Using Paypal to Sell BTC or Buy = 70% chance of a chargeback.

I got chargedback on ebay (not related to bitcoins) , however with/without ebay, Paypal will always side with the buyers. To paypal, you are basically selling "Air" to someone, and that someone can easily claim chargeback. Only way out of this is by getting the buyer to dispute and then, if the buyer is genuine of course.... get the person to close the dispute in favour of you and then he/she wont be able to chargeback again but don't take my word for it.

I hate paypal.

I understand your concerns but this is almost impossible in case of sending funds to friends and family as gift. There is 10% risk if you accept funds via this "channel".

I guess. But be wary on who you sell too. People can use hacked paypals and ive seen threads about this before. With paypal , Always do a background check

Hope the best bud!

MBW_2

newbie

Activity: 364

Merit: 0

Quote from: gloryninja on July 05, 2017, 06:17:56 PM

Using Paypal to Sell BTC or Buy = 70% chance of a chargeback.

I got chargedback on ebay (not related to bitcoins) , however with/without ebay, Paypal will always side with the buyers. To paypal, you are basically selling "Air" to someone, and that someone can easily claim chargeback. Only way out of this is by getting the buyer to dispute and then, if the buyer is genuine of course.... get the person to close the dispute in favour of you and then he/she wont be able to chargeback again but don't take my word for it.

I hate paypal.

I understand your concerns but this is almost impossible in case of sending funds to friends and family as gift. There is 10% risk if you accept funds via this "channel".

gloryninja

sr. member

Activity: 345

Merit: 250

Trusted Member

Using Paypal to Sell BTC or Buy = 70% chance of a chargeback.

I got chargedback on ebay (not related to bitcoins) , however with/without ebay, Paypal will always side with the buyers. To paypal, you are basically selling "Air" to someone, and that someone can easily claim chargeback. Only way out of this is by getting the buyer to dispute and then, if the buyer is genuine of course.... get the person to close the dispute in favour of you and then he/she wont be able to chargeback again but don't take my word for it.

I hate paypal.

crairezx20

legendary

Activity: 1638

Merit: 1046

Not a good idea to deal to someone just with paypal in my own opinion like other said it can be still charge back even you are verified or you receive it as friends because i already experience that thing because i was deal to someone here to exchange my paypal into bitcoin and the man who deal to was wrong sending an paypal email and i contacted the paypal via email and i said that "my friend sending a wrong paypal account and hope to charge back my paypal and send it to the correct paypal email." after 1 day i receive back the paypal funds even you send or receive it as friend or family you are still in risk.. better to be careful it is ok if you are just deal to some reputative here in forum not good idea to deal to someone outside in this forum and non reputative members of this forum ..

buyinbtc

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Quote from: timerland on July 04, 2017, 08:29:34 PM

I have a question for all experienced bitcoin traders out there.

If you want to sell your bitcoin for paypal, can you ask someone to send as friends and family and the chargeback, and close the dispute so that they can neither open a dispute for item not as described nor as unauthorised transaction?

It makes sense becasue you're not allowed to dispute further after you open a dispute of that category, correct?

Thanks all for the help.

You can try to sell them like this, but in my opinion nobody should use paypal to sell bitcoins ever. It just not that safe, many people lost their bitcoins and money selling them using paypal, it's just that risky. Use it to sell to people that you can meet in real life, but i wouldn't ever trust someone online enough to sell them bitcoins via paypal

ArnoldChippy

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Activity: 700

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Quote from: mattermaster on July 05, 2017, 05:50:35 AM

Paypal was my primary payment bank initially when i was newly introduced to internet, but alas , once an israeli guy charged me back $600 ! That was a lesson for me to avoid paypal.
It always involve risk of being scammed by paypal seller because you are free to chargeback your money by raising a false claim in upto 180 days.
Such bad factor is a basic reason why most people hate paypal.

in very beginning most of the people were using paypal for payment, but when bitcoin introduce most of the people who are already using paypal left paypal service and now using bitcoin which is more convenient for them to use.

amaral1977

sr. member

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The only problem if you keep getting/ opening disputes BTC related they can consider you a currency trader and close you own account. Beware of BTC transition, deal with the handful of trusted members IF YOU MUST.

skyline247

hero member

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Yes. You are right... if you plan to sell Bitcoin using PayPal, the only guaranteed safe method is by using friends and family payments.

However, PayPal frowns upon any individual abusing this feature, so account may be limited to a certain amount of different "friends & family" before they review and/or temporarily suspend your account.

When your account is temporarily suspended, you will need to call in and explain to them why there are so many such payments. You better have a good excuse... perhaps you are organizing a wedding - and taking gifts from everyone to help pay for it. Hope this helps you.

LeGaulois

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I am going to tell you that if you think receiving money as "gift-friends-family" is protecting you from buyers chargebacks then you are wrong. I am not going to tell it as I don't want to give some ideas to scammers, but even if the buyer send you with this option, he can still get his money back and maybe more fast than opening a dispute. Not to say as well that Paypal doesnt allow currency exchange and once you're suspended from Paypal it is once for good.

bitbunnny

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PayPal could be tricky way for buying or selling Bitcoins so I wouldn't suggest that method unless you are dealing with person you know and trust and have some good history of trading.
It's much better to use localbitcoins or any other way where you get more security and protection. Anyway, it's your own risk.

magneto

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Activity: 1666

Merit: 753

No.

No matter how hard you try the other guy could always claim that the hacker also cancelled the dispute. He can use VPN to change his IP address(obviously) and paypal will generally side with the guy sending the funds because they want to uphold their 100% security guarantee.

Anything involving a single entity controlling the validity of transactions will have the possibility of chargebacks happening. If a court order was ordered then technically anything is possible. But by doing all these things you mentioned it will definitely reduce the risk of chargebacks happening, but the best thing to do is still to check who you're receiving funds from. Receiving as G&S from a trustworthy guy is much better than receiving as FF and open and close the dispute from someone you never knew before.

mattermaster

sr. member

Activity: 476

Merit: 250

Paypal was my primary payment bank initially when i was newly introduced to internet, but alas , once an israeli guy charged me back $600 ! That was a lesson for me to avoid paypal.
It always involve risk of being scammed by paypal seller because you are free to chargeback your money by raising a false claim in upto 180 days.
Such bad factor is a basic reason why most people hate paypal.

hisuka

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Activity: 882

Merit: 251

Quote from: danjonbit on July 05, 2017, 01:44:50 AM

I agree with them you should take a look reagarding their terms and conditions, PayPal has some charge back and its quite annoying.

This is why I left paypal everytime to use it requires charge back and others conditions. Id rather use other payment method than paypal. That paypal is not friendly users, hard to use and they had a restriction to some other services.

Vishnu.Reang

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Activity: 1974

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My advice is to never trade your Bitcoins for Paypal. There are a lot of reputed users in Localbitcoins who offer Paypal payments for Bitcoin, but I would not trust any of them. What if someone hacks their account and apply for charge-back after the trade?

danjonbit

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Activity: 364

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DanJoN

I agree with them you should take a look reagarding their terms and conditions, PayPal has some charge back and its quite annoying.

Topic: Is it safe to sell bitcoin for paypal like this? (Read 1133 times)