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Author Topic: Beware of PayPal and other reversible transfer services  (Read 269 times)

Offline neocoin

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Beware of PayPal and other reversible transfer services
« on: August 22, 2013, 08:29:53 AM »
Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for ifinitecoin successfully.

Some other services that are not totally safe:
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)
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Offline sympfinite

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Re: Beware of PayPal and other reversible transfer services
« Reply #1 on: August 28, 2013, 06:17:13 AM »
That's really a wierd situation we have here !

Paypal accepts paying for $LL (dollars linden) or for game-currency and such, tho buying crypto-currencies is against their ToS...

Btw, it seems quite do-able to buy $LL with PP then exchance $LL => BTC or LTC, therefore it won't be possible to charge-back on paypal.

Going further, nothing forbid IFC or other coins to put a "donation" with paypal while, donating would be rewarded by coins. Except trusting the donations' rewarder

Anyone ever tried contacting paypal to know what they think on the subject ?
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Online TECSHARE

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Re: Beware of PayPal and other reversible transfer services
« Reply #2 on: August 28, 2013, 07:13:19 AM »
Quote from: sympfinite on August 28, 2013, 06:17:13 AM
That's really a wierd situation we have here !

Paypal accepts paying for $LL (dollars linden) or for game-currency and such, tho buying crypto-currencies is against their ToS...

Btw, it seems quite do-able to buy $LL with PP then exchance $LL => BTC or LTC, therefore it won't be possible to charge-back on paypal.

Going further, nothing forbid IFC or other coins to put a "donation" with paypal while, donating would be rewarded by coins. Except trusting the donations' rewarder

Anyone ever tried contacting paypal to know what they think on the subject ?

Trading cryptocurrency with Paypal is never a good idea. Just do some quick searches for Paypal horror stories and you can see the thousands of ways people can rob you.
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