I never took this seriously honestly (Paypal or any other payment method) but do they allow trading Bitcoin ? or it's against their TOS.
I'm not sure how they are supposed to know if you are trading bitcoin or not , but I'd like to know if I can do it according to their terms or not .
also I want to know anyone of you know when the 21 days hold thing disappears from our accounts ? that should make bitcoin trading easier. (or anything else)
for the first time bitcoin launch,paypal seems not happy with that,and many people start using paypal fot trade it for bitcoin,and its why paypal make TOS about bitcoin transaction,they would ask for clarification to people that use their service for bitcoin transaction :/ i wish someday paypal really work together with xapo or other bitcoin wallet.I'm not sure how they are supposed to know if you are trading bitcoin or not , but I'd like to know if I can do it according to their terms or not .
also I want to know anyone of you know when the 21 days hold thing disappears from our accounts ? that should make bitcoin trading easier. (or anything else)
Have to think of it from a business standpoint. Paypal is a payment processor and so is Bitcoin. It wouldn't be good business to help promote your competitors and lose out on possible income.
Instead of banning it outright like some companies would, they just don't offer protection against doing it.
How they can find out if the transaction is for Bitcoin or not ? I'm pretty sure it's not possible unless they check emails of famous exchange like Virwox.com that allow paypal deposits and bitcoin withdrawal . (but from two individuals , sounds impossible)
and does anyone know what the "21 days hold" is ?
Usually if someone just mentions it in a dispute they will investigate, other than that I'm sure they don't really care or want to spend the extra money paying employees to check.
The 21 day hold is more than likely a security measure on their end to help prevent people making new accounts to accept stolen funds with. The 21 day period that prevents you from using that money is to give the sender a chance to dispute it.
An example, I obtain the details to your paypal account and notice you have funds. I then create a new account and send those funds to that one before sending them out to another account to avoid any disputes. If that 21 day hold was in place then I would be unable to do this.
Personally I don't have this issue as my account is really old and fully verified .
