Crypo Trading Journey

[James2774]

So this is my second journey, still on the first so I need to go update that too, just been busy and let it fall to the wayside.

I've decided I want to try and sell BTC, why not lots of people do it!
The biggest and really only problem I see is charge backs, people are afraid to sell bc of the risk, especially with PayPal, however that means selling BTC for PayPal should be pretty lucrative, right? If you can mitigate the charge backs.

Ideally I'd like to maybe get into full exchange, ie pay me any which way (BTC, PayPal, bank, etc) and I pay you back any which way. From reading here for example it seems people are in need of ways to cash out there PayPal to banks as well.
But one step at a time.

So, I just created an account on xcoins and loaded $100 of BTC to it at 15%, ideally it will be loaned out soon and Ill have $115, which I can then reinvest right away, and profit, less any reversal/chargebacks.

Xcoins makes it easy, but soon I will jump into trading maybe on localbitcoins or anywhere else you can think of, feel free to chime in, perhaps my own site one day too.

Im confident in my ability to stop chargeback with PayPal/credit cards even so perhaps I can get a decent chunk of this with better rates when I start selling openly.

Anyway lets see what happens, Ill start reinvesting up to a $1k USD, and will see from there how many go bad, then Ill up the ante.

 

[dandan594594]

Interested in your journey! I'm on my own crypto one next year and am planning to combine mining, staking and loans to accumulate coins then will HODL.

A few P2P exchanges I was looking at are https://bisq.network/ and https://blocknet.co/ and have now added Xcoins to the list. However, I'm planning on using bank transfers rather than PP.

With Paypal you not only have the worry of charge backs but they can lock your account for the smallest thing, and crypto will trigger these automated and manual filters.

 

[James2774]

Interested in your journey! I'm on my own crypto one next year and am planning to combine mining, staking and loans to accumulate coins then will HODL.

A few P2P exchanges I was looking at are https://bisq.network/ and https://blocknet.co/ and have now added Xcoins to the list. However, I'm planning on using bank transfers rather than PP.

With Paypal you not only have the worry of charge backs but they can lock your account for the smallest thing, and crypto will trigger these automated and manual filters.

Awesome!
Well thats why i only put $100 on xcoin.io, also bc its a test, lets see how it works and learn, they do the loan for me etc its automated.
As far as PP trades go, I am able to process them without having my own paypal, so i cant be reversed, so this is an area i can dominate in.

Update already:
Ive been speaking to an Indian company for say a month now, and finally agreeing on terms, I get to be there only payment processor for BTC. Also for echecks too but thats not what this thread is about ha.
This is my strategy for now, to offer these companies a seamless way to accept BTC (remain anonymous) while ensuring I receive most of their customers. They do 200 orders weekly so thats enough fro me to keep my hands full while I get processes in order.
I dont want to process too many orders at once and get overwhelmed.

Once this works, Im showing proof of concept to other stores in this niche, and plan is to get to 1000 orders weekly in time.

Pricing I feel is fair, if any feedback:
To the customer, processing fee (5%) paid by customer, I dont receive that, Paypal will. $5 flat fee goes to me.
To the merchant, 5%, of sales, on par with merchant accounts, and this gains them access to echecking and anonymity through BTC payouts.

Also note even though I keep anonymity to the customer, I only deal with legal business. However things like Kratom, research chems (not drug analogues though), are grey area legal, so those are my targets.

 

[James2774]

Ok first two loans came in, made $9, need to verify my bank account tomorrow is all I lost my login so need to call the bank tomorrow to reset it all.

 

[Zera Api]

Good Luck with your Future company

 

[rajlorfel]

Given the risk involved (although what in life does not involve any form of risk?), I commend you on pursuing a new journey in cryptocurrency.

Good luck and as you said, one step at a time.

 

[James2774]

Given the risk involved (although what in life does not involve any form of risk?), I commend you on pursuing a new journey in cryptocurrency.

Good luck and as you said, one step at a time.

Thanks, really my only fear is losing my PayPal account, so xcoins seems to help a bit with that.

Anyway on xcoins i topped it back off to $100 to reinvest the cash, but my offer isnt running, its active though? I think that means all the other offers have lower commissions so im not up in line to loan out yet?
I went to localbitcoins to post sellling bc for paypal (bc the margins are higher), but upon trying to post i now am blocked from the site. I get a message from CloudFlare that I triggered an action that is blocking me as an attack/threat so im blocked lol of course i get that.
Gonna see where else i can do these trades, Paxum, and some others. Maybe look at other coins like monero too idc what the coin is tbh im only trading for margins, not bc i care about the actual coin.


Edit: damn im blocked on Paxful for being in NY.
Anyone have suggestions on where i can post trades/ads?

 

[BHTC]

Paxful doesnt work for NY? Maybe it will work in Asia country?

 

[James2774]

Thanks, really my only fear is losing my PayPal account, so xcoins seems to help a bit with that.

Anyway on xcoins i topped it back off to $100 to reinvest the cash, but my offer isnt running, its active though? I think that means all the other offers have lower commissions so im not up in line to loan out yet?
I went to localbitcoins to post sellling bc for paypal (bc the margins are higher), but upon trying to post i now am blocked from the site. I get a message from CloudFlare that I triggered an action that is blocking me as an attack/threat so im blocked lol of course i get that.
Gonna see where else i can do these trades, Paxum, and some others. Maybe look at other coins like monero too idc what the coin is tbh im only trading for margins, not bc i care about the actual coin.

Paxful doesnt work for NY? Maybe it will work in Asia country?

nah you have to upload documents, I have no desire to do stealth etc.
NY doesn’t allow trading lmao I’m surprised xcoins is working.

I’ll look for more loan type places like that.

Also might have my hands full soon.
Have one store now where I’m the dedicated exchanger for all sales.
Once that’s smooth gonna add a few more stores.
Can def get to 1-2k transactions a week this way since I can’t take credit cards and PayPal for BTC.

literally only working/learning and sleeping hence I’m on here now lol

 

[t-machine]

Anyone have suggestions on where i can post trades/ads

Expand into localethereum?

Im confident in my ability to stop chargeback with PayPal/credit cards even so perhaps I can get a decent chunk of this with better rates when I start selling openly.

And don't underestimate Paypal's ability to fuck you over once they know you trade crypto.

 

[BHTC]

haha..if you need any support in asian country, just hit me up, happy to discuss.

 

[James2774]

Expand into localethereum?



And don't underestimate Paypal's ability to fuck you over once they know you trade crypto.

I agree, xcoins mentions this, so going slow on it.
For my other trades (for example taking over a stores customers), the way I use PayPal/credit cards I can’t be fucked and PayPal can’t do anything, I have slayer in between so it’s not truly direct PayPal.
But basically you pay in PayPal I receive money you receive BTC

Suggestions on how to advertise a PayPal cash out?
For example people who want to cash out stealth PayPals and receive in bank or BTC.
That’s my other side to explore. You pay me in any which way I’ll pay you any way.
Again though the way I do it I can’t be charged back so Idgaf

 

[KardoseR]

how do you deal with chargebacks?

 

[IG Professor]

Let's see wherre it goes
goodluck

 

[James2774]

how do you deal with chargebacks?

from PayPal? Xcoins has a contract and captures the sale and receipt of the BTC so you can provide it to PayPal in case of a reversal, I’m confident so far that through them you will still gain, even given some losses.

 

[James2774]

All day my offer wasnt running on xcoins, got it sorted out, started running in the queue, and the payment was flagged by xcoins and paypal, so iwas told by both not to accept the funds, i guess thats their fraud prevention, however the $100 in the account is still tied up until the offer expires so hopefully its running again soon.

Thast all to say so far, going to look at how to get on localbitcoins and the other exchanges with a lottle workaround we'll see, not concerned yet but lets try it.

 

[James2774]

Ok it went through, made anohter $10 or so total profit $18 lol, not bad for doing nothing, note im not addding any principle, im only adding in what is paid back to me so my total availabel to loan is only the 100 principle and adding the interest, so up to 120 now. Ill fo that only for a few more days/week or so then in january ill add another $100. then m,aybe every week add 100?
See how it goes.
Im sure the higher amount i can loan, the more offers ill get, bc im only able to loan up to 100 at a time. My reason though for not doing that yet is to slowly build up PayPal volume.

 

[goodbood]

Ok it went through, made anohter $10 or so total profit $18 lol, not bad for doing nothing, note im not addding any principle, im only adding in what is paid back to me so my total availabel to loan is only the 100 principle and adding the interest, so up to 120 now. Ill fo that only for a few more days/week or so then in january ill add another $100. then m,aybe every week add 100?
See how it goes.
Im sure the higher amount i can loan, the more offers ill get, bc im only able to loan up to 100 at a time. My reason though for not doing that yet is to slowly build up PayPal volume.

I'm trying to do similar thing , good luck in your journey !

 

[James2774]

I'm trying to do similar thing , good luck in your journey !

Youre on xcoins? or where if anywhere else?

good luck man, i want to grow this but i have other stuff going on so this is more of a test and side project, but lets me learn and hopefully we can scale big time!
Id certainly put on 2k if i could loan out 2k and make 200/day lol but im sure there is a limit or wed all be rich doing that.

 

[James2774]

Ok so my PayPal has about $200 on hold for 21 days, reason being the new activity from my new account, no worries, long as there isnt a dispute (anc xcoins provides the agreements and docs to win, but you never know), Im good, so im not putting the 100 back into it yet, let the volume build up slow enough.
total profit so far off $100 (reinvested) is $25.

Ill let that sit.
Next step tomorrow Ill attempt to get on one of the platforms and just say im not in NY apparently lol

IDC that this grows slowly, it can be my retrement fund lol if it doubles 10 times ive got 100k lol right?! In all seriousness though while im sure it wont be doubling 10x it does show how money over time an investment can really grow to a sizable amount, once the hold is off ill add it back so thatll be $300 in.

Also puts the world into perspective for me, looking up Indian wages and seeing 2016 $1500/YEAR was average? Is that right wtf? I know its low, but damn shows even further the power of the internet when people say things like "what do i invest $100 in?".