Author

Topic: Paypal to BTC exchange (Read 996 times)

full member
Activity: 168
Merit: 100
November 15, 2014, 09:08:16 AM
#5
Exchanging PayPal for bitcoin will generally result in one fo the two people involved in the transaction being scammed.

If it turns out that you are not a scammer, and if you somehow get lucky enough to find someone who is not a scammer that is willing to sell you the bitcoins, then you will pay a very high exchange rate for convenience of using PayPal.

You would be MUCH better off sending the PayPal balance to a friend or family member that you trust, and having them give you the same amount in cash.  Then you can use the cash to purchase bitcoins (there are a variety of payment methods available to you once you have cash in hand).  You should strongly consider using a trusted escrow provider as well since most cash transactions are otherwise irreversible.  Here is a list of popular escrow providers from this forum:
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

When working with a trusted bitcointalk user (for escrow as an example), be very careful to make sure that you are actually working with the person you think you are working with.  There are scammers that will create similar looking usernames and use them to impersonate trusted individuals and trick people into sending them bitcoins.


Well I wish I would have gotten your advice sooner as I did end up getting scammed out of my money, and now paypal is refusing to resolve it.
legendary
Activity: 3472
Merit: 4801
November 15, 2014, 09:04:07 AM
#4
Exchanging PayPal for bitcoin will generally result in one of the two people involved in the transaction being scammed.

If it turns out that you are not a scammer, and if you somehow get lucky enough to find someone who is not a scammer that is willing to sell you the bitcoins, then you will pay a very high exchange rate for convenience of using PayPal.

You would be MUCH better off sending the PayPal balance to a friend or family member that you trust, and having them give you the same amount in cash.  Then you can use the cash to purchase bitcoins (there are a variety of payment methods available to you once you have cash in hand).  You should strongly consider using a trusted escrow provider as well since most cash transactions are otherwise irreversible.  Here is a list of popular escrow providers from this forum:
https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

When working with a trusted bitcointalk user (for escrow as an example), be very careful to make sure that you are actually working with the person you think you are working with.  There are scammers that will create similar looking usernames and use them to impersonate trusted individuals and trick people into sending them bitcoins.
hero member
Activity: 935
Merit: 1002
November 08, 2014, 09:13:11 AM
#3
I think this should be moved to marketplace-currency exchange as it doesn't belong here.
sr. member
Activity: 448
Merit: 250
November 08, 2014, 07:21:28 AM
#2
We can do this by starting with tiny amount.
full member
Activity: 168
Merit: 100
November 08, 2014, 04:32:36 AM
#1
I need someone to help me exchange paypal funds for btc.  I am accepting a payment from an ebay user and I want to put the money towards a couple new miners without having to wait two weeks for transfers.  The total amount will be made available once I find someone to agree to make the exchange. 
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