You'd have to make hundreds of phone calls a day dealing with charge backs....
You may want to read over this thread: https://bitcointalksearch.org/topic/offering-paypal-for-bitcoin-youre-likely-to-be-labeled-a-scammer-read-why-164254
Topic: Setting up a bitcoin trading company (Read 761 times)
PayPal transactions are EASILY reversed
You'd have to make hundreds of phone calls a day dealing with charge backs....
You may want to read over this thread: https://bitcointalksearch.org/topic/offering-paypal-for-bitcoin-youre-likely-to-be-labeled-a-scammer-read-why-164254
You'd have to make hundreds of phone calls a day dealing with charge backs....
You may want to read over this thread: https://bitcointalksearch.org/topic/offering-paypal-for-bitcoin-youre-likely-to-be-labeled-a-scammer-read-why-164254
Be very careful with PayPal, remember the transactions are reversible and you could be out of pocked for your BTC and $.
It's been a long time since I've heard of anyone buying or selling Bitcoin with Paypal, but if I remember correctly, Paypal decided not to allow users to purchase Bitcoins using their service. I could be wrong though.
Last two places that I was aware of where you could actually use Paypal to purchase Bitcoins were on eBay and on Virwox. There's a good reason that major exchanges and most people on this forum will not accept Paypal for Bitcoins.
There would be nothing illegal about selling Bitcoins using Paypal. You should know that you will be scammed however.
Last two places that I was aware of where you could actually use Paypal to purchase Bitcoins were on eBay and on Virwox. There's a good reason that major exchanges and most people on this forum will not accept Paypal for Bitcoins.
There would be nothing illegal about selling Bitcoins using Paypal. You should know that you will be scammed however.
Hello everyone,
I was thinking about setting up a small business where you can buy bitcoins with PayPal, with a 5% fee or something. It wouldn't be too hard, I'd just let the user type in an amount and let him pay with PayPal, and some days later I would send it to him. I know that he can complain (to PayPal) I didn't send it, but I would let them accept that they should trust me, and that it wouldn't be my problem if the money didn't arrive.
So my questions were: Is this legal? And what else is important to know here?
Thanks
I was thinking about setting up a small business where you can buy bitcoins with PayPal, with a 5% fee or something. It wouldn't be too hard, I'd just let the user type in an amount and let him pay with PayPal, and some days later I would send it to him. I know that he can complain (to PayPal) I didn't send it, but I would let them accept that they should trust me, and that it wouldn't be my problem if the money didn't arrive.
So my questions were: Is this legal? And what else is important to know here?
Thanks
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