do not use paypal

Do not use PayPal for Selling Cryptocoins

When you are selling crypto coins it may be tempting to use PayPal. By all means, it is fast and easy to use with very manageable fees. But I would advice you to not do it because it is very easy to get scammed if you do. 

So what am I on about? Well PayPal has a system for trading which is made to protect the buyer from being scammed. Once you have made the trade, the buyer can contact PayPal to have the money withdrawn.

By then it is very difficult to prove that the trade actually happened and you might find yourself without both crypto coins and money.

That is why I never would use PayPal for trading crypto coins unless I do with a personal friend that I know in real life and trust very much. I would never ever even think of trading through PayPal with someone on the internet that I do not know.

But where do you find buyers for your crypto coins? If you do not have any friends that you trust that want to buy it, it might seem difficult. Especially if you do not want to use sites like Coinbase because of their fees.

Well there is a site called LocalBitCoins.com where you can find people that wants to either buy or sell cryptos. They have a ranking system which can show how many trades some people have done.

If someone for example has made 100 trades and all went good it surely seems like a trusted person and someone that I would trade with.

But of course you can never know for sure but this is A LOT better than just to trade with some random person in some Facebook group.

So make sure that you can trust the person you are going to trade with and do not use PayPal, that is my best advice.

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