Silk Road forums
Discussion => Security => Topic started by: arpeggi on December 10, 2012, 12:59 am
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Any fellow SR users know of a good vendor who sells Bitcoins via PayPal? Im looking to buy $150 worth of BTC. Can anyone steer me to the right person? Much Thanks!
-arpeggi
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Paypal is not a good method to buy BTC. First of all, paypal seems to be in the business of telling people what they can and cannot use paypal to buy, and they explicitly forbid using paypal for buying virtual currencies like bitcoin. Secondly, from a receiver's perspective, accepting paypal is about as soft money as you can receive, as paypal will do a chargeback for a customer at the blink of an eye.
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No person with half a brain would ever sell you BTC for PayPal. Ever.
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Yes, I agree PayPal is far from the optimal means of purchasing BTC. I was just wondering as I have a small amount of cash sitting in my account and didnt really want to wait 14 days for PayPal to send me a paper check. Appreciate the comments everyone. Much Thanks!
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Get a second life account if you don't have one already. Buy SLL with your paypal account, go to VirWox verify your second life account and deposit the SLL in there no fees for any of that, exchange the SLL to bitcoins (4% fee) then transfer to your wallet (0.02 fee).
Or you can go to virwox and load your account with cash from a CC or paypal (4% fee) Trade cash for SLL (4% fee) then exchange like above, it's more fees and takes more time. The above option is easy but your limited to $30 the first day then after 2 days $100 and keeps going up, this is a second life thing for their protection. Depending on the amount your trying to buy it's actually cheaper than bitinstant because of the zipzap fees. But it can be slow and frustrating trying to get the best deal with your limit orders.
Further tips f you decide to go this way always purchase with a limit order. For example if you buy SLL as a market order right now you only get about 240 SLL per $1, but with a limit order you can get 256 per $1 very fast right now.
Same with virwox you can sell those SLL for about 3600 per 1 BTC but with a limit order it can be as low as 3350 for 1 BTC
All these numbers are as of today they will be wrong tomorrow and useless a month from now.
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Get a second life account if you don't have one already. Buy SLL with your paypal account, go to VirWox verify your second life account and deposit the SLL in there no fees for any of that, exchange the SLL to bitcoins (4% fee) then transfer to your wallet (0.02 fee).
Or you can go to virwox and load your account with cash from a CC or paypal (4% fee) Trade cash for SLL (4% fee) then exchange like above, it's more fees and takes more time. The above option is easy but your limited to $30 the first day then after 2 days $100 and keeps going up, this is a second life thing for their protection. Depending on the amount your trying to buy it's actually cheaper than bitinstant because of the zipzap fees. But it can be slow and frustrating trying to get the best deal with your limit orders.
Further tips f you decide to go this way always purchase with a limit order. For example if you buy SLL as a market order right now you only get about 240 SLL per $1, but with a limit order you can get 256 per $1 very fast right now.
Same with virwox you can sell those SLL for about 3600 per 1 BTC but with a limit order it can be as low as 3350 for 1 BTC
All these numbers are as of today they will be wrong tomorrow and useless a month from now.
THIS
Skip the secondlife bullshit tho.
just exchange using the virwox website, buy SLL exchange to bitcoin, Send bitcoin to whatever BT Wallet you choose.
Might take a few days for them to release the funds since it will be your first purchase on virwox