basically my site will work just like ebay. what information should I get from users? real name? address? Am I required to collect those information?
It depends upon u and your requirements! By the way i a want to do partnership on the site if u r interested. Can help a lot with promotion. Pm me if interested.
Paypal will have their information because it has to be linked to a bank and you can't give fake info to a bank. On your site you can allow people to have usernames.