Bitcoin for sale on ebay?


Derrick Kam asked 10 months ago

There are many sellers offering various amounts of bitcoin on sale on ebay using paypal. How legitimate is this? Most of these sellers have very low feedback and the feedback they do have are usually for non bitcoin related items.

1 Answers
Steven Hay answered 10 months ago

Hi Derrick,
 
Bitcoin is non-reversible, whereas PayPal has chargebacks. This means that if you sell Bitcoin for PayPal, you run a very high risk that your buyer will reverse the payment after getting the Bitcoin. For this reason, almost nobody sells Bitcoin for PayPal – and if they do so, they charge a very high markup (10% and higher, easily) to offset the fraud.
 
Especially as these sellers have low feedback, I would be very skeptical. Either they have no idea what they’re doing or they’re deliberately scamming. In either case, you’re likely to lose money or at least experience a lot of hassle.

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