Scam Alert Warning!! Do not buy or sell Cryptocurrency using this payment method...
Scam Alert Warning!!
Do not buy or sell Cryptocurrency using this payment method...
Hello Steem, I have been doing the Cryptocurrency thing since the mid Jan. of this year. During the nice run up in value I was pumping more money into BTC along with other altcoins. I was exploring the different ways to recover profits when I considered paypal as a payment option. After look into different places on the web I concluded I would experiment by selling a small amount on eBay since I was already familiar with the platform. I received my first sell and it appeared to be straightforward and smooth, so I continued to sell. All the bitcoin I sold on the Ebay over 10 days was paid for by the PayPal system so I could verify each and every payments. As soon as the payment posted to PayPal I assumed the transaction was protected (isn’t that paypal’s job, protecting buyers and sellers). I then would send the bitcoin directly to the buyer’s e-wallet. I thought I had covered all my vulnerabilities, how wrong I was... I got SCAMMED! Come to find out the buyers were not the authorized eBay account holder. So once I sent the bitcoin, the hijacker abandoned the stolen account, and the authorized account holder submits a dispute. PayPal then pulls the funds out of my account and locks it up with a dispute review process. Can you guess who PayPal ended up siding with? In the fine print PayPal will not protected transaction that involve cryptocurrency. Bitcoin has no tracking or a way to reverse the transaction, PayPal will not take responsibility for these types of sales.
PayPal's official response is "We are notifying you that a payment you received was made without the account holder's permission, or was the result of a transaction error." Sucks to be me.
Don't be scammed. Don't accept PayPal as payment for cryptocurrency.
Follow this Tech Group for more postings on all things crypto tips, tricks and traps.
Follow me: 
Help support the operation and help recover losses
BTC:
13bNUzAVyzSwGg5ijseLKhyodm76N8jSDx
ETH:
0xBB3D384Bbafb78C328F2917904dd5ac44D696417
LTC:
LY3tiav239xKJWNVXGKpfyBaGZeNP1MF41