Post
Topic
Board Service Discussion
Re: Question about paypal and bitcoin.
by
BlackHatCoiner
on 29/04/2020, 10:50:17 UTC
BlackHatCoiner, buying BTC for PayPal is very risky for the buyer, because seller can in any time (180 days) ask for his money back, and in that way you can lose BTC and your fiat.
How do people generally buy Bitcoin safely?

most people opt for a reputable exchange like bitstamp or coinbase pro. unfortunately, exchanges rarely allow paypal for buying BTC. i was about to recommend paybis.com but i see they've recently removed the options for paypal. Undecided

if you can find paypal offers on p2p marketplaces (localbitcoins, paxful, this forum) you'll probably pay a big mark-up over exchange prices. if your partner can withdraw the paypal balance to his bank account, he can deposit to an exchange and pay normal prices. that's probably the best way to go.

How can he get his bitcoin back after the payment?

bitcoins can't be taken back once payment is confirmed. the same is not true for paypal---that's the issue.

So p2p marketplaces accept only bank accounts? If that then I can buy a bitcoin with 7,489.64 Euro?

Don't bitcoins need 6 confirmation in order to get fully confirmed?