Question about paypal and bitcoin. | Bitcointalksearch.org

gentlemand

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Quote from: BlackHatCoiner on April 29, 2020, 05:50:17 AM

So p2p marketplaces accept only bank accounts? If that then I can buy a bitcoin with 7,489.64 Euro?

Don't bitcoins need 6 confirmation in order to get fully confirmed?

If there is any possibility of using a bank account then you should abandon the idea of Paypal completely. Even if you can find somewhere or someone nuts enough to sell to you you'll be losing 20-50% to cover their risk. It's overwhelmingly toxic in this scenario.

You'd get more money with him buying a bunch of phones on Ebay and you selling them on here for BTC for a sizeable loss.

Where the risk is gone - you selling Bitcoin and being paid out in Paypal by a reputable company like Coinbase - so are the premiums.

figmentofmyass

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Quote from: Lucius on April 30, 2020, 05:22:55 AM

Quote from: figmentofmyass on April 29, 2020, 05:46:43 AM

if you can find paypal offers on p2p marketplaces (localbitcoins, paxful, this forum) you'll probably pay a big mark-up over exchange prices. if your partner can withdraw the paypal balance to his bank account, he can deposit to an exchange and pay normal prices. that's probably the best way to go.

It all depends on sellers, but most sellers here on forum offer an option 1:1 based on prevv price, and some offers include a premium price so you can get more fiat for your BTC.

the OP (or his partner) wants to buy bitcoin with paypal. who is selling at 1:1 to a jr member with no trading history?!!

the standard fee for untrusted users in the currency exchange forum is ~ 20%+ right now. only green trusted and longtime users are getting 1:1 or paying 5%.

check out localcryptos. buyers using paypal are paying 25-50% over market: https://localcryptos.com/Bitcoin/PayPal/Buy

Quote from: Lucius on April 30, 2020, 05:22:55 AM

Regarding withdrawal money from PP to bank account, this is possible in some countries, but should take into account the fact that banks may share that info with tax administrations, and if that money is not coming from some legal source an awkward situation can occur.

obviously. the point was to explain that exchanges won't touch paypal, hence the large premium paypal users pay to get BTC.

pugman

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Quote from: BlackHatCoiner on April 30, 2020, 03:03:12 AM

Yes but you know what am I afraid of? My partner has no idea of cryptocurrency. Will his paypal play a big role or just a payment and that's all?

I think I'm gonna go with localcryptos.com and choose the most trusted seller. Thank you.

Since he is your partner, you can ask for a teamviewer access to keep track of both sides, and initiate a trade on localcryptos. The paypal part is techincally a big role, and the buyer must receive the money and there could be a potential paypal refund issue and stuff if its not done properly. So, be careful, and make sure both parties communicate before time runs out. Make sure the buyer gets the payment in time and he pays you your bitcoin.

BlackHatCoiner

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Quote

If your knowledge is similar to your partner's, buying BTC may be the least of your problems. Have you made a plan for how you will keep safe that BTC, and are you aware of all the risks arising from such an investment?

This is what I'm saying, my knowledge is not similar with my partner. I just need him for the purchasement.

Yes I'm aware of the risks.

Lucius

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Quote from: figmentofmyass on April 29, 2020, 05:46:43 AM

if you can find paypal offers on p2p marketplaces (localbitcoins, paxful, this forum) you'll probably pay a big mark-up over exchange prices. if your partner can withdraw the paypal balance to his bank account, he can deposit to an exchange and pay normal prices. that's probably the best way to go.

It all depends on sellers, but most sellers here on forum offer an option 1:1 based on prevv price, and some offers include a premium price so you can get more fiat for your BTC. Regarding withdrawal money from PP to bank account, this is possible in some countries, but should take into account the fact that banks may share that info with tax administrations, and if that money is not coming from some legal source an awkward situation can occur.

Quote from: BlackHatCoiner on April 30, 2020, 03:03:12 AM

Yes but you know what am I afraid of? My partner has no idea of cryptocurrency. Will his paypal play a big role or just a payment and that's all?

If your knowledge is similar to your partner's, buying BTC may be the least of your problems. Have you made a plan for how you will keep safe that BTC, and are you aware of all the risks arising from such an investment?

BlackHatCoiner

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Farewell, Leo

Quote from: pugman on April 29, 2020, 06:12:18 PM

Quote from: BlackHatCoiner on April 29, 2020, 02:19:41 AM

Hello, I don't have paypal and I really can't make one right now. Many issues that don't fit the thread.

But I have a partner, that he gets paid via paypal. I want to know if there is any site that will deposit his money and send the analogous number of bitcoin to an address.

I simply want to receive his money in bitcoin and not in paypal. But in order to keep the value of the money, we should not make too many transactions. If only, he could buy me bitcoin instantly.

Do you know any site?

Have you tried this website: localcryptos.com?

It basically is a P2P site that allows you to buy/sell bitcoin through various methods. I have heard about it on this forum and apparently it is really good with no KYC bullshit. And since you want to buy bitcoin with paypal, here is a link: https://localcryptos.com/Bitcoin/PayPal

Check it out, but mind you I have never used this, so do be careful. And do your own research.

Yes but you know what am I afraid of? My partner has no idea of cryptocurrency. Will his paypal play a big role or just a payment and that's all?

I think I'm gonna go with localcryptos.com and choose the most trusted seller. Thank you.

pugman

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dogs are cute.

Quote from: BlackHatCoiner on April 29, 2020, 02:19:41 AM

Hello, I don't have paypal and I really can't make one right now. Many issues that don't fit the thread.

But I have a partner, that he gets paid via paypal. I want to know if there is any site that will deposit his money and send the analogous number of bitcoin to an address.

I simply want to receive his money in bitcoin and not in paypal. But in order to keep the value of the money, we should not make too many transactions. If only, he could buy me bitcoin instantly.

Do you know any site?

Have you tried this website: localcryptos.com?

It basically is a P2P site that allows you to buy/sell bitcoin through various methods. I have heard about it on this forum and apparently it is really good with no KYC bullshit. And since you want to buy bitcoin with paypal, here is a link: https://localcryptos.com/Bitcoin/PayPal

Check it out, but mind you I have never used this, so do be careful. And do your own research.

Saisher

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We have trusted member here whom you can trade Paypal, they have their own thread in the service section do check those threads, it's important that you check the feedback and the trust rating before you proceed, I never trust Paypal because of their charge back features but if you can find a good member to exchange your coins/money are safe.

joniboini

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As an alternative, some trusted members sell his bitcoin for PayPal. Try to check the currency exchange sections. If there's no thread that servers your purpose, you can try to open a new one.

Quote from: BlackHatCoiner on April 29, 2020, 05:50:17 AM

Don't bitcoins need 6 confirmation in order to get fully confirmed?

Confirmation basically shows how deep your tx is in the blockchain. 1 confirmation is strong enough right now, it's fairly difficult to 'hack' the chain. So, even if it's only 1 confirmation, you can consider your bitcoin is gone already.

BlackHatCoiner

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Farewell, Leo

Quote from: figmentofmyass on April 29, 2020, 05:46:43 AM

Quote from: BlackHatCoiner on April 29, 2020, 05:14:04 AM

Quote from: Lucius on April 29, 2020, 05:08:47 AM

BlackHatCoiner, buying BTC for PayPal is very risky for the buyer, because seller can in any time (180 days) ask for his money back, and in that way you can lose BTC and your fiat.

How do people generally buy Bitcoin safely?

most people opt for a reputable exchange like bitstamp or coinbase pro. unfortunately, exchanges rarely allow paypal for buying BTC. i was about to recommend paybis.com but i see they've recently removed the options for paypal. Undecided

if you can find paypal offers on p2p marketplaces (localbitcoins, paxful, this forum) you'll probably pay a big mark-up over exchange prices. if your partner can withdraw the paypal balance to his bank account, he can deposit to an exchange and pay normal prices. that's probably the best way to go.

Quote from: BlackHatCoiner on April 29, 2020, 05:14:04 AM

How can he get his bitcoin back after the payment?

bitcoins can't be taken back once payment is confirmed. the same is not true for paypal---that's the issue.

So p2p marketplaces accept only bank accounts? If that then I can buy a bitcoin with 7,489.64 Euro?

Don't bitcoins need 6 confirmation in order to get fully confirmed?

figmentofmyass

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Quote from: BlackHatCoiner on April 29, 2020, 05:14:04 AM

Quote from: Lucius on April 29, 2020, 05:08:47 AM

BlackHatCoiner, buying BTC for PayPal is very risky for the buyer, because seller can in any time (180 days) ask for his money back, and in that way you can lose BTC and your fiat.

How do people generally buy Bitcoin safely?

most people opt for a reputable exchange like bitstamp or coinbase pro. unfortunately, exchanges rarely allow paypal for buying BTC. i was about to recommend paybis.com but i see they've recently removed the options for paypal. Undecided

if you can find paypal offers on p2p marketplaces (localbitcoins, paxful, this forum) you'll probably pay a big mark-up over exchange prices. if your partner can withdraw the paypal balance to his bank account, he can deposit to an exchange and pay normal prices. that's probably the best way to go.

Quote from: BlackHatCoiner on April 29, 2020, 05:14:04 AM

How can he get his bitcoin back after the payment?

bitcoins can't be taken back once payment is confirmed. the same is not true for paypal---that's the issue.

BlackHatCoiner

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Farewell, Leo

Quote from: Lucius on April 29, 2020, 05:08:47 AM

BlackHatCoiner, buying BTC for PayPal is very risky for the buyer, because seller can in any time (180 days) ask for his money back, and in that way you can lose BTC and your fiat. The only way I have practiced so far is that I have done such trading with some members of this forum who have a positive trust and have been engaged in this type of trading for some time. For more details you can visit : Currency exchange

Alternatively you can look at paxful, but you have to consider very high fees there and fact that 49% of users rate it as bad on trustpilot.

How do people generally buy Bitcoin safely? How can he get his bitcoin back after the payment?

Lucius

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BlackHatCoiner, buying BTC for PayPal is very risky for the buyer, because seller can in any time (180 days) ask for his money back, and in that way you can lose BTC and your fiat. The only way I have practiced so far is that I have done such trading with some members of this forum who have a positive trust and have been engaged in this type of trading for some time. For more details you can visit : Currency exchange

Alternatively you can look at paxful, but you have to consider very high fees there and fact that 49% of users rate it as bad on trustpilot.

jossiel

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Since virwox has shut down, I haven't used any other service that you can use to convert Paypal funds to bitcoin. But, see if these methods are what you need because there's comparison included in that article.

https://99bitcoins.com/buy-bitcoin/paypal/

BlackHatCoiner

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Farewell, Leo

Quote from: Thirio on April 29, 2020, 02:34:56 AM

Are you saying you want to buy bitcoin through his Paypal and send that bitcoin to your address?

May I ask where are you from? I don't know any site but I do (and most Filipinos i think) use coins.ph which is available in google play store, the app can convert and transact money(PHP) and bitcoin alternately. Though the problem is 1. you'll make an account pretty much like Paypal and verify it. 2. you're not a Filipino and can't use coins.ph

I'm from Greece and he is too. I just want him to buy me bitcoin instead of buying by myself.

Thirio

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Are you saying you want to buy bitcoin through his Paypal and send that bitcoin to your address?

May I ask where are you from? I don't know any site but I do (and most Filipinos i think) use coins.ph which is available in google play store, the app can convert and transact money(PHP) and bitcoin alternately. Though the problem is 1. you'll make an account pretty much like Paypal and verify it. 2. you're not a Filipino and can't use coins.ph

BlackHatCoiner

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Farewell, Leo

Hello, I don't have paypal and I really can't make one right now. Many issues that don't fit the thread.

But I have a partner, that he gets paid via paypal. I want to know if there is any site that will deposit his money and send the analogous number of bitcoin to an address.

I simply want to receive his money in bitcoin and not in paypal. But in order to keep the value of the money, we should not make too many transactions. If only, he could buy me bitcoin instantly.

Do you know any site?

Topic: Question about paypal and bitcoin. (Read 216 times)