Post
Topic
Board Beginners & Help
Re: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why
by
nick7
on 12/04/2013, 12:10:34 UTC
Well, one hurdle for newbies like me who are just getting into the cryptocurrency game; the quickest way to send money (otc on irc) and get BTC is to use paypal.

The exchanges usually takes at least 1-2 business days to get your cash in the accounts.
And if you're in a country that's not the US or in Europe, it's even more difficult, the fees are even higher, and it can take over a week. To buy BTC I could either submit a bunch of private information to the exchange (yeah, that sounds like a good idea) that will take over a week to authenticate AND pay exorbitent international transfer fees ($30 per transfer) that can take up to seven days to transfer, or I could be charged a 25 - 40% premium to buy "locally" in my local currency, or I could build reputation on http://bitcoin-otc.com and use PayPal to buy instantly.

PayPal is a fucking maggot pile, but it's so convenient.