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PayPal and bitcoin scam

Discussion in 'Making Money' started by MrRobot15, Mar 9, 2017.

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  1. MrRobot15

    MrRobot15 Newbie

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    Hello everyone,Can someone who have time and knowledge explain me exactly why its is very dangerous to sell bitcoins(For example in LocalBitcoins) and make transactions with buyers from unauthorized paypal accounts. How important is?
     
  2. tb303

    tb303 Power Member

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    paypal transactions can be reversed easily.

    bitcoin transactions cant.
     
  3. MrRobot15

    MrRobot15 Newbie

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    i need more specific explanation
     
  4. toml3030

    toml3030 Elite Member

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    You sell bitcoins to me and I pay with paypal. After I receive the bitcoins, I call paypal and tell them it was an unauthorized transaction. Paypal then reverses the transaction. I have both the paypal money and bitcoins, and there's nothing you can do about it.
     
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  5. MrRobot15

    MrRobot15 Newbie

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    the situation you described also it can be made from authorized paypal accounts. I want to point me out what are the dangers only from the buyers with unauthorized paypal (just like stolen accounts scams) accounts not only the common cons.
     
  6. toml3030

    toml3030 Elite Member

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    I don't think you're getting the point that it doesn't matter whether it's authorized or unathorized paypal. All the buyer has to do is to tell paypal the transaction wasn't authorized and the payment will be reversed.
     
  7. zerkamaz

    zerkamaz Junior Member

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    As @tb303 said, Bitcoin transactions aren't reversible.
    Paypal is not safe for this kind of transactions.
     
  8. John Escalona

    John Escalona Regular Member

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    There's a recent news about bitcoin being denied by SEC
     
  9. pacefer3

    pacefer3 BANNED BANNED

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    Paypal only support buyers, never sellers. So you can get your money lost in just 2 clicks :S
     
  10. jb2302

    jb2302 Regular Member

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    Then how to sell bitcoin safely ?
     
  11. Masterofeverything

    Masterofeverything Registered Member

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    And whatever you do, NEVER use Skrill. Them guys are scum of the earth. I was scammed out of 1.5 Bitcoins a few months ago. It should been impossible for the guy to reverse but they did it without notification and gave me no reason, and then they closed my account so I couldn't argue facts with evidence. I am pretty sure the guy worked for Skrill.
     
  12. pacefer3

    pacefer3 BANNED BANNED

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    Maybe you can sell on a website called XAPO I think they buy and you can easily trust in a Company than an user. I THINK!
     
  13. MR9

    MR9 Junior Member

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    OP I am not sure what you meant as unauthorized paypal .. is it unverified paypal? Then there can be one other explanation. The send money then reverse play only works couple of time then paypal gets suspicious and may block the account or ask for further verification, they can also permanently ban the account with multiple scam complaints. But its very easy to make new unverified accounts and use them once for charging back.

    I heard hacked credit cards and paypals are very popular around dark web, that could be the case as well. Anyway, never do this .. ever. Paypal and exchange never goes well.
     
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  14. Jason Bradbury

    Jason Bradbury Power Member

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    Someone needs to make a PayPal alternative.
     
  15. hnrblog

    hnrblog Newbie

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    Hi, selling bitcoin in localbitcoin is very easy and safe as well if you choose the right trader. Check their previous trades and their reputation. However, try not use paypal as a receiving currency as it can be reversed by the sender.

    So always use your own bank account to receive fund. Localbitcoin comes with an inbuilt escrow service and you will have to release funds after your receive the money form the seller. So it's pretty safe. But paypal is a big no no.
     
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  16. AlanWatts33

    AlanWatts33 Jr. VIP Jr. VIP

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    Fricken paypal...

    Now that fees are going up and they are being serious about friends and family transactions, people are looking for REAL alternatives to exchanging their cash. I looked at payoneer, that was a bust. Only way to get money on it is the credit card I believe, and they separated from paypal.

    All I can think of is bitcoin...its the fastest, most discreet, and safest way compared to the rest. Fee's can be high but thats about the only downside...and acquiring usually takes time.
     
  17. CenterCB

    CenterCB Jr. VIP Jr. VIP

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    It is obvious, bro
    You give me your btc, and I charge back my usd :eek:
     
  18. cwbhood

    cwbhood Registered Member

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    How long have you been selling BTC?
     
  19. MrRobot15

    MrRobot15 Newbie

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    I have no much experience with paypal transactions that's why i make questions for better knowledge, to not become a victim
     
  20. jawadjee7

    jawadjee7 Junior Member

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    So it means that anyone can do this. after purchasing some thing, call paypal, tell them the payment is unauthorized and you have your money and the product. Right?