1. #1
    precator
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    Bitcoin questions

    I see a lot of people recommend blockchain? Why is that? I was looking at Paxful because they had Paypal which I like to use? Is that not recommended? Do any other exchanges allow you to sell bitcoin for paypal?

  2. #2
    danshan11
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    if you sell bitcoin for paypal let me tell you how it goes
    Day 1 sells like hotcakes you are rich
    Day 2 even more time to buy a ferrari
    Day 3 all the reversals and chargebacks start coming in
    Day 4 Paypal limits you permanently
    Day 5 Your bank transfers from paypal never come in
    Day 6 Suicide with a LIVE chainsaw taped to the garage door and you under the door and push close!
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  3. #3
    drockstar
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    I use local bitcoins. Works for me. Using them for three years (wish I had bought bitcoin then).

  4. #4
    mrpapageorgio
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    Blockchain is preferred for storage because of its ease of use on your phone. If you're just transferring Bitcoin to/from books, it serves its job.

    As Dan was saying, using Paypal to buy/sell Bitcoin is a prime for fraud because people will send you money, then after you send the Bitcoin they'll do a charge back and Paypal will leave you high and dry since it's not a physical item with proof of mailing.

    Use a regular exchange like Coinbase or Gemini or CEX or (my preference) Cash App to sell Bitcoin.

  5. #5
    metsfan3331
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    Thanks

  6. #6
    mrpapageorgio
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    Correction,
    Can’t send Bitcoin to Cash App to sell, can only buy.

  7. #7
    themike78
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    I buy and sell with paypal all the time with localbitcoins. All you have to do is deal with people who have excellent reputations. If a guy is buying with over 1000 transactions and no complaints obviously he isn't going to rip you off. Out of about 300 times selling I got scammed once because I was being lazy and didn't check the guys reputation. He was a new buyer and did a **********. PayPal sided with him because selling bitcoin isn't protected with paypal insurance.

  8. #8
    themike78
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    Quote Originally Posted by precator View Post
    I see a lot of people recommend blockchain? Why is that? I was looking at Paxful because they had Paypal which I like to use? Is that not recommended? Do any other exchanges allow you to sell bitcoin for paypal?
    Dont use paxful. They rip you off with fees. Last time I used them when I sent bitcoins out they charged me .001 for a fee. They sent the transaction out with a .00002 fee. Complete ripoff. Localbitcoins 10 times better.

  9. #9
    danshan11
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    Quote Originally Posted by themike78 View Post
    I buy and sell with paypal all the time with localbitcoins. All you have to do is deal with people who have excellent reputations. If a guy is buying with over 1000 transactions and no complaints obviously he isn't going to rip you off. Out of about 300 times selling I got scammed once because I was being lazy and didn't check the guys reputation. He was a new buyer and did a **********. PayPal sided with him because selling bitcoin isn't protected with paypal insurance.
    this is a very dangerous practice, you can buy old aged lbc accounts at a very low price and those accounts are used to scam people everyday.

  10. #10
    themike78
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    Quote Originally Posted by danshan11 View Post
    this is a very dangerous practice, you can buy old aged lbc accounts at a very low price and those accounts are used to scam people everyday.
    I didn't know that. Thanks for the info. When I did get scammed I was able to get localbitcoins to ban their account.

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