Topic: This what happen when you sell bitcoin for Paypal (Read 1705 times)

You have probably traded with a reputable trader that had no interest to do a chargeback on you. It's different when you have unknown people buying bitcoins for Paypal.

Even birds on the trees know until now that PayPal should be absolutely avoided. I would trust a Paypal transaction only if I know where the guy lives that I trade with and I know him personally. But in this situation, I wouldn't even need PayPal to do a trade!

The essential is to stay away from PayPal!

I used localbitcoins once. Exchanged some BTC for 9$ paypal. No problem for me.

However, on exchange websites the amount should be small.

True that. Deal with a trusted site and try avoiding newbies as much as you can. Your BTCs are safe as long as you trade in smaller amounts with a number of people rather than bulk dealing with an individual. Common sense can do wonders!

I've been dealing with PayPal for the past 5 years and the fact I've never been charged back is because I've always dealt with only trusted people. If you use trusted exchangers like xmlgold or trade with reputed members of the forum, chances are very less than the cash will be chargedback. It's not only bitcoins but trading for any digital good/product can be chargedback via PP and hence even ebay had stopped users from selling their ebooks/egift cards and they deleted my listing when I wanted to sell my ebook for PP. Localbitcoins also is a trusted site but you need to deal with trusted buyers and not newbies or people with less reputation.

You just need to be selective in Bitcoins for Paypal deal, I've seen several users here with successful feedback due to a successful transaction for Bitcoin for Paypal. No offense to the newbies but never trust those ranks for Paypal.

https://localbitcoins.com/forums/#!/fraud:paypal-fraud-fatalerror

No sell bitcoin for Paypal. This happen to you eventually.

We have reviewed your PayPal account and found that you have been involved
in the sale of electronic media exchange (such as electronic money or
digital currency). Per our current Acceptable Use Policy for Money Service
Businesses, PayPal may not be used for currency exchange including the sale
of BitCoins.
 
To continue using your PayPal account, we need some additional information
from you. Keep in mind that we have placed a limitation on your PayPal
account, and this limitation will remain until we receive and review this
information. Please provide us with a signed and notarized affidavit
stating that you understand and will comply with PayPal’s terms and
conditions.
 
The affidavit should include the following language. You can simply copy
and paste the text below to a blank document and then print it for
signature and notarization:
 
I, the undersigned, do affirm that I understand and will comply with
PayPal's policy regarding the use of PayPal accounts to sell electronic
currency. I understand that PayPal may not be used for the exchange of
electronic currency. I further affirm that any future violation of the
policy may result in immediate restricted access to the account.
 
Next Steps:
 
After you sign and notarize the affidavit, please log in to your account
and go to the Resolution Center for further instructions on how to send us
the document. Your account will remain limited until the issue is resolved.
 
We look forward to hearing from you and thank you for choosing PayPal as
your payment provider.
 
Sincerely,
Robert
PayPal Compliance Department
PayPal, an eBay Company
 
Please do not reply to this email address as it is not monitored and we
will not receive your response. You can get in touch with us by clicking
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https://localbitcoins.com/forums/#!/fraud:paypal-fraud-fatalerror

No sell bitcoin for Paypal. This happen to you eventually.