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Discussion in 'Trade' started by DecredMiner, Feb 14, 2016.
Is anyone willing to sell Decred for money transferred via PayPal?
I do not think that is a good idea. Selling cryptos via PayPal is problematic. Basically the Decred transaction can not be reversed, however the PayPal transaction can. Because scammers have been using stolen PayPal accounts to buy cryptos for so many years there are very few people who would be willing to take the chance with that method of payment.
I'd go a step further and repeat what I've heard elsewhere: Do not buy cryptocoins via Paypal. The old bad-faith trade where you reverse the charge and make off with the coins and cash is apparently a common scam.
What if you send the funds via friends and family method? I don't think that can be reversed...
If PayPal is a no-go, any other suggestions about how we can buy using normal currency?
The simplest way that comes to mind would be to acquire Bitcoin via credit card using a service like Circle and then trading that BTC for Decred on an exchange like Bittrex where the majority of the BTC/DCR volume seems to be right now...
You can purchase Bitcoin on Coinbase directly from a bank account and then purchase Decred on Bleutrade or Bittrex. Any other method is too shady for me - especially any mentions of Paypal and cryptocurrencies.
This is what I do myself, never had problems.
Or you can use virwox to buy btc which I've used a couple of times. They also include paypal. They have quite a fee in place though so it's not optimal. And then turn them into decred on an exchange.
Yeah, whatever you do, just make sure you do some research and ensure that you're money will be safe. I'd never use an exchange just because you saw someone somewhere say they liked it, and as always, if something seems to good to be true, it most likely is.
No sensible person would buy crypto currencies with Paypal.
If you wish to buy Decred, best chances are buying Bitcoins and then trading Decred for that.
You can use the exchanges that others have mentioned.
All the best!
418sec, what's wrong with buying crypto currencies via Paypal? People use credit or debit cards all the time to buy Bitcoin so why is using PayPal so bad?
I have agree with Zomax on this one. Obtain bitcoin and then go to the exchange to buy decred. This is definitely a safe method!!!
The main problem being, lots of times people steal paypal accounts and pay with that.
And many times people even after buying dispute the payment and charge-back.
In that case the buyer gets their money back into their paypal account..
But the seller loses his coins.
Hence people don't like doing cryptocoins<->Paypal exchanges.
To clarify using paypal to buy from an exchange is ok if they allow it.
Private parties doing their own paypal transactions is not recommended due to the ability of the purchaser to cancel / dispute the paypal transaction. If paypal cancels the transaction at the buyers request the seller has no recovery options to get DCR back.
That is true drunkenmusgy, and with decred being in its early stages of development, we do not need people coming in on the forums speaking about losing coins through paypay. That would be bad for the community.
@drunkenmugsy, if you send the money via friends and family you can't do a charge back....
I was looking to buy Decred via PayPal, not sell it.
I understand there are risks for the seller but is there is a risk to the buyer if you purchase via PayPal?
I would say there would be risk for both.
For buyers : Making payment and not getting coins.
For the sellers : More vulnerable to charge backs by the buyer after the buyer gets the coin from the seller. Also, as this is cryptocurrency, once sent there is nothing much that can be done by the seller, so the buyer gets the coin and cash (I believe most are worried about this scenario). There are also cases that got charge back even when sending via friends and family.
So yea, I would say that the seller takes a higher risk if they were to sell to anyone that they don't know.
I'll do it. you will need to write on paper that you understand no charge backs.
and send a pic with you and your id. also you account must be same as your name and verified.
and 30% pluse exchange rate.
yes, I will. I will send coins after the return "complaint" or "dispute" period of a paypal transfer.
and comes to a bad options... u will need wait some days to send the coins for the buyer... i prefer buy instantly using btc