I see a lot of posts on the for sale forum about trading paypal for egold and other currencies and was wondering if you'd be able to answer a question that I had about exchanging online money. Why is the paypal end of the exchange is less secure? is there a way that people could scam you with this deal? How about between the other services such as moneybooker, stormpay, etc? are they not secure? Please let me know what the security issues with these exchanges are. Thank you.
Also, I was wondering if these issues could be resolved if ther person with paypal would just send their payment first. Or is there still a way that their payment could be retracted or fradulent? Thanks
The reason why paypal exchanges are not safe is that one can easily chargeback his/her paypal payment. If you send for example Money bookers or egold for his/her paypal (which are irreversible) He gets your money, chargeback paypal and ripp your ... off, leaving you with nothing. That's why people don't like to exchange paypal with member who have less itrader rating/reputation. Paypal sucks when it comes to chargebacks. I personally got scammed couple of times like this and after that day I only trade with honest and respected members Paypal is most widely used processor so there are not many Moneybookers, stormpay exchanges.
Is the only risk with paypal that they can dispute or recind the payment? or are there other risks like fraud? like if someone phishes out a password from someone else, sends you the paypal money, then you send them egold... when paypal finds out that there was fraud, do they just take the money back? is there any way to protect against this?? Thanks
People please tell me, how works 2CO payments? Can I later make withdraw money from my account from 2CO? I am not from America or Europe, and met problem with PayPal, would like to know more about it. Thanks.
Yes! if paypal finds that money sent was not authorized they simply will return the money to the original account holder and you will lose that money. Lots of risk when dealing with paypal. Also paypal people are not very good So I would say be careful when dealing with someone you don't know or is a new forum member. Regards
If you do a normal business with paypal, i think paypal is really good but since you start an exchange service, scammers will find you
I don't agree with you mate. Paypal is worst in this case. MB only locks accounts if you have illegal funds.
If you need to exchange why not use escrow, have a look at their site here: https://www.escrow.com/index.asp