Post
Topic
Board Beginners & Help
Re: Offering PayPal for Bitcoin? You're likely to be labeled a scammer - Read why
by
imaclick
on 18/05/2013, 05:22:46 UTC
Isn't the risk of buying bitcoins with paypal the same risk as buying anything else with paypal?  What is considered to be the safest way to do this other than going to someone in person and making sure you get the cash in hand?

It's not the risk of buying bitcoins with paypal - it's the risk of selling bitcoins for paypal.  Example:  you sell me 1 bitcoin and I buy it by paying you $100 thru paypal.  Once I receive the bitcoin from you I file a dispute on paypal.  Paypal reverses the transaction and gives me back my $100.  Now I have 1 Bitcoin I didn't have to start with, and my $100 in my paypal account.  You on the other hand have lost 1 bitcoin and have no additional money in paypal.

using Paypal for a while, never noticed there's such a policy, thanks for reminding everyone here!