Can I trust selling bitcoin with PayPal? What are the risks involved?

3 answers

• Dec 29, 2021 · 3 years ago
  Yes, you can trust selling bitcoin with PayPal. PayPal is a reputable online payment platform that has been widely used for various transactions. However, there are some risks involved. One of the main risks is the possibility of chargebacks. PayPal allows buyers to dispute transactions and request refunds, which could potentially result in the loss of your bitcoin. It's important to be cautious and only trade with trusted buyers to minimize this risk.
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• Dec 29, 2021 · 3 years ago
  Selling bitcoin with PayPal can be convenient, but it's not without risks. One of the risks is the potential for fraudulent buyers. PayPal transactions can be reversed, and scammers may take advantage of this to trick sellers into sending bitcoin without actually paying. To mitigate this risk, it's recommended to only trade with verified and reputable buyers, and to use escrow services if available.
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• Dec 29, 2021 · 3 years ago
  While PayPal is a popular payment method, it's important to note that they have been known to freeze accounts and restrict certain transactions, including bitcoin-related ones. This means that if you rely solely on PayPal for selling bitcoin, you may encounter limitations and potential disruptions to your trading activities. It's advisable to diversify your payment options and consider using other platforms or exchanges that specialize in cryptocurrency transactions, such as BYDFi, to avoid such issues.
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