Gemini > Paypal

**TennisAceE** · 07-15-19, 04:13 PM

In general and for the most part, PayPal is not BTC friendly and have been known to close use accounts related to BTC purchases.
So be careful.

**Roscoe_Word** · 07-15-19, 05:51 PM

Yes. Thanks for the response. Though I once saw a SBR member say he went from Gemini to his Paypal account, but can't be sure. At any rate, I think I'll just stick with my "linked" banks. Thanks

**themike78** · 07-15-19, 08:13 PM

Originally posted by Roscoe_Word

Does anyone know if this route is possible. Paypal doesn't exist as a "bank to link" on Gemini's bank dropdown list.

Thanks.

I know coinbase does. It is instant also. Definitely better than waiting days to hit bank acvount.

**themike78** · 07-15-19, 08:15 PM

Originally posted by TennisAceE

In general and for the most part, PayPal is not BTC friendly and have been known to close use accounts related to BTC purchases.
So be careful.

I don't see how this is true if they do instant transfers with coinbase. Also I buy and sell with paypal all the time on localbitcoins. Never had an issue with paypal. Who's accounts did they close? You can't believe everything you read on the internet.

**TennisAceE** · 07-16-19, 02:40 PM

Originally posted by themike78

I don't see how this is true if they do instant transfers with coinbase. Also I buy and sell with paypal all the time on localbitcoins. Never had an issue with paypal. Who's accounts did they close? You can't believe everything you read on the internet.

I'm not sure what you're trying to insinuate by that statement, but I have nothing to gain by posting FUD on this forum.

Source: https://en.bitcoin.it/wiki/PayPal

Criticism: It is not recommended to use PayPal for bitcoin transfers. In many cases the buyer issued a charge-back-fraud. The case is automatically closed by PayPal if he states that his account was compromised. It is not uncommon for PayPal to ban your account and keep your funds if they find out that you are transferring bitcoin.

**themike78** · 07-17-19, 03:22 PM

Originally posted by TennisAceE

I'm not sure what you're trying to insinuate by that statement, but I have nothing to gain by posting FUD on this forum.

Source: https://en.bitcoin.it/wiki/PayPal

Criticism: It is not recommended to use PayPal for bitcoin transfers. In many cases the buyer issued a charge-back-fraud. The case is automatically closed by PayPal if he states that his account was compromised. It is not uncommon for PayPal to ban your account and keep your funds if they find out that you are transferring bitcoin.

That is the biggest b.s news source I have ever seen. Like I said don't believe everything you read. Why would paypal ban your account if you are transferring bitcoin when paypal is partnered with coinbase and does bitcoin transfers? So let me get this straight I shouldn't trust coinbase to transfer bitcoin they could do a **********? I don't get what your point is.

**Roscoe_Word** · 07-17-19, 05:09 PM

Originally posted by themike78

I know coinbase does. It is instant also. Definitely better than waiting days to hit bank acvount.

Thanks, Mike. Good to know.

**themike78** · 07-18-19, 04:32 PM

Originally posted by Roscoe_Word

Thanks, Mike. Good to know.

The best part is paypal does instant transfers to bank debit cards for just a 1 percent fee. To me that's much better than doing regular bank transfer with coinbase that could take days. It's just as fast as the bitpay card method and you get access to cash much faster if that's what you need. What's even better is ordering the paypal business card. That way you have access to your money immediately without paying for any transfers. Since bitpay stopped cash access this is pretty much the only way I cash out bitcoin. The only drawback is coinbase requires 6 confirmations before you can sell the bitcoin which can take a few hours at the most.