Re: [ZS] Bitcoin Seeks New Life In Africa
----- Forwarded message from Gary Mulder <flyingkiwiguy@gmail.com> -----
Are there any bitcoin exchanges that take PayPal or credit/debit cards?
I don't do online banking with my accounts.
One key feature of Bitcoin is that a transaction is non-revocable. Once you send Bitcoins to a Bitcoin wallet address, the Bitcoins are irrevocably sent. PayPal supports charge backs, so someone who buys Bitcoins could then file a charge back request with PayPal and get PayPal to refund his payment. Therefore nobody accepts PayPal for Bitcoin purchases. Credit cards also have identical issues. Also, get the destination Bitcoin address wrong and the Bitcoins sent can never be recovered by anyone.
SEPA and bank transfers are (sometimes) also easily reversable. Paypal has a policy against virtual currencies, after a quantity of bitcoin-related paypal accounts had been closed people stopped using it. Wisely so, Paypal has strange account-freezing policies. You may still get a Paypal to Bitcoin exchange in a person-to-person trade though, ask around. Bitcoin OTC can give you an indication of someone's trustworthiness.
participants (2)
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Eugen Leitl
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lodewijk andré de la porte