Is this site legit? | Bitcointalksearch.org

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: TheButterZone on July 30, 2014, 06:21:41 PM

Yes, you can.

Yes gifts can be reversed as well. I am for a part into crypto because I wanted to cashout from my tf2 trading and pp was not an option. Its is common among steamtraders to send the payment as gift, but thats a false sense of security.All you need for a chargeback is to say:

I didnt do it... my uhm.... lil sister did and Paypal chargesback.

Steamtrading boards are full of storries like this. Same goes for crypto deals, you might have someone honest at the other end, but if you dont, paypal will not help you.

TheButterZone

legendary

Activity: 3038

Merit: 1032

RIP Mommy

Yes, you can.

jjc326

hero member

Activity: 700

Merit: 500

I've heard way too many stories of people getting screwed on Paypal, I wouldn't do anything through them at all related to Bitcoin.

I think that I have heard that doing it as a "gift" option is a little safer, but I couldn't figure out why. Maybe you can't reverse a "gift?"

pawel7777

legendary

Activity: 2436

Merit: 1561

Edited my post above.

Quote from: shorena on July 30, 2014, 05:18:26 PM

Avoid paypal at all costs when you are dealing with bitcoin.

let me quote their terms and conditions:

Quote

You may not use the PayPal service for activities that:
-snip-
3. relate to transactions that -snip-
involve currency exchanges or check cashing businesses
-snip-

Don't think that part of T&C was meant to relate to cryptos. It just doesn't make sense why ebay (who owns paypal) would allow trading BTC and even made a separate category and paypal would disallow it.

I bought my first BTC on ebayUK (around Nov 2013) on both auction and buy it now format (allowed back then) and had no issues. Then again, I recall a story about someone's funds being frozen due to selling BTC mining hardware... just weird.

OK, what if a buyer sends funds to the seller but not as a payment for anything, just person A sends to person B (as a gift). Is it still a risk from seller's perspective? Can it be reversed?

Anduck

legendary

Activity: 1511

Merit: 1072

quack

Just to be clear.

1. In most countries, Paypal doesnt allow digital currency trading.
2. Paypal will freeze your money.
3. Paypal will freeze your money because you've traded with person whose account got freezed.
4. Chargeback time is 180 days. This means 181 days after the trade the payment can't be chargebacked.
5. All forms of Paypal-payments can be chargebacked.

Most (near to all) sites who offer bitcoin for CC/pp/otherchargebackablemethod are scams.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: pawel7777 on July 30, 2014, 03:29:57 PM

If you're looking for a (somewhat) secure way to buy BTC using paypal. I recommend... wait for it... eBay.

For some time they have a separate 'Virtual currency' category. Note: you cannot do auctions or buy it now anymore, they only allow classified ads, so you'll be buying outside of ebay.

Obviously check seller's feedback and history and don't buy large amounts at one go.

Quote

-snip-
Buyer paid 5 minutes later with PayPal. I've sent to him his 0,5 BTC and i thought that all is fine but sadly it wasnt. Next day i recieved an email from PayPal staff that the buyer didn't authorize this transaction
-snip-
Two days after the transaction PayPal returned the money to the buyer. I,ve lost both - money (62E) and BTC
-snip-

source: http://community.ebay.de/t5/Sicherheit-f%C3%BCr-Verk%C3%A4ufer/Bitcoin-und-PayPal-BETRUG/td-p/456389

Avoid paypal at all costs when you are dealing with bitcoin.

let me quote their terms and conditions:

Quote

You may not use the PayPal service for activities that:
-snip-
3. relate to transactions that -snip-
involve currency exchanges or check cashing businesses
-snip-

source: https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full

If anything goes wrong, you are fucked and paypal might even suspend your account.

pawel7777

legendary

Activity: 2436

Merit: 1561

If you're looking for a (somewhat) secure way to buy BTC using paypal. I recommend... wait for it... eBay.

For some time they have a separate 'Virtual currency' category. Note: you cannot do auctions or buy it now anymore, they only allow classified ads, so you'll be buying outside of ebay.

Obviously check seller's feedback and history and don't buy large amounts at one go.

EDIT: I mean safe way of BUYING not SELLING. If anything they say about paypal disallowing crypto is true, then disregard my advise above.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Why would you want to swap to Paypal. Fees up the asshole especially when dealing with Ebay.

I hate Ebay! Angry

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: FlutterPie on July 30, 2014, 03:05:52 PM

Quote from: DeathAndTaxes on July 30, 2014, 03:02:10 PM

Lets see, a site appears out of nowhere, never been posted about on this forum (other than by day old profiles), has already completed over a million dollars in txns, and offers a 0.1% fee which is less than what PayPal charges (so they lose money on every txn?). Sounds legit to me.

Still if you need more:
https://bitcointalksearch.org/topic/fast-and-profitable-exchange-661039
https://bitcointalksearch.org/topic/reliable-bitcoin-to-paypal-exchange-660606

Thanks,

do you know of a legit site?

It is always a huge mistake to go from swap BTC (non-reversable) to Paypal (reversible).

Only trade BTC for fiat from reputable exchanges or in person.

hilariousandco

global moderator

Activity: 3934

Merit: 2676

Join the world-leading crypto sportsbook NOW!

Quote from: FlutterPie on July 30, 2014, 03:05:52 PM

Quote from: DeathAndTaxes on July 30, 2014, 03:02:10 PM

Lets see, a site appears out of nowhere, never been posted about on this forum (other than by day old profiles), has already completed over a million dollars in txns, and offers a 0.1% fee which is less than what PayPal charges (so they lose money on every txn?). Sounds legit to me.

Still if you need more:
https://bitcointalksearch.org/topic/fast-and-profitable-exchange-661039
https://bitcointalksearch.org/topic/reliable-bitcoin-to-paypal-exchange-660606

Thanks,

do you know of a legit site?

There are legit traders with lots of successful trades on the Marketplace here. Don't use any of these shoddy sites you stumble upon.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Looks scammy as fuck! Just look at the Contact page:

http://paypal-bitcoin-exchange.com/contact

Elmhurst, NY zip code is 11373 not 21383. Also (691) 210-5909 isn't a US phone, it's Micronesia.

Avoid like the plague!!

FlutterPie

full member

Activity: 177

Merit: 100

Quote from: DeathAndTaxes on July 30, 2014, 03:02:10 PM

Lets see, a site appears out of nowhere, never been posted about on this forum (other than by day old profiles), has already completed over a million dollars in txns, and offers a 0.1% fee which is less than what PayPal charges (so they lose money on every txn?). Sounds legit to me.

Still if you need more:
https://bitcointalksearch.org/topic/fast-and-profitable-exchange-661039
https://bitcointalksearch.org/topic/reliable-bitcoin-to-paypal-exchange-660606

Thanks,

do you know of a legit site?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Lets see, a site appears out of nowhere, never been posted about on this forum (other than by day old profiles), has already completed over a million dollars in txns, and offers a 0.1% fee which is less than what PayPal charges (so they lose money on every txn?). Sounds legit to me.

Still if you need more:
https://bitcointalksearch.org/topic/fast-and-profitable-exchange-661039
https://bitcointalksearch.org/topic/reliable-bitcoin-to-paypal-exchange-660606

FlutterPie

full member

Activity: 177

Merit: 100

I was looking for a quick way to exchange bitcoin for paypal, and I came across this site.

http://paypal-bitcoin-exchange.com/

Does anyone know if its legit, or if its a scam.

Topic: Is this site legit? (Read 1361 times)