Why is nobody using cryptocurrency for Buy/Sell?

General Discussion
1

Hello,

myself now is a part of a couple of group buys, as well as direct 1:1 trades on a forum…

I cant figure out why are people still using PayPal for receiving/sending funds.

Fees are really big, then there is a possibility of unauthorized account usage claim, that usually results in seller being at a loss since PP is heavily on a buyers side…

I know that bitcoin an other cryto is not widely accepted (yet) and that people find it connected to scams, but if the trade is done trough escort ( a person of trust that will hold funds until both sides are satisfied ) there is a little to none room for scamming.

There are cryptocurrencies that are made for instantaneous feeless transfer of funds, so its fast, secure, feeles and simple future if you ask me…

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2

While I do want to support crypto the things people buy here can take months to even years before you get your hands on the product so some people would like to have the assurance that they can still get a refund or back out from some purchases.

I’m happy that some vendors do tale bitcoin as payment though, personally I would like to have the option but again there’s no refund guarantee from paypal or some other third party that can give you that kind of peace of mind if you decide to pay via ceyptit

3

The last time i used it it was a total pain in the arse to use for transactions. Paypal and card were faster, easier and safer with added buyer protection etc.

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4

Just out of curiosity, when was it?

5

Over a year ago. Ill wait until its regulated until i use it again :stuck_out_tongue:

6

Buyer protection from paypal recently saved me $380USD on a purchase from a known and trusted regular on the forum that sent me broken and dodgy gear then bailed on all communication.

If I had paid with crypto I would have been out that money.

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7

Key word “Protection”

Too many scammers in the realm of forums. Even more scammers in Crypto Currency.

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8

Yup you need some sort of protection. So many peeps have been scammed on this forum before… And crypto is unstable “currency” .One day it’s worth 1000€ and the next 500.

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9

Well if you used escrow in crypto you would also had that 380 USD Back…

But I understand general fear of using crypto… I just hope it would change in future…

10

No I wouldn’t. I doubt a crypto escrow service will offer the same level of protection as paypal. The item sat on my shelf for a few weeks until I was ready to use it then discovered the damage and uncovered the true story behind the item. Trying to contact the seller got me ignored so then I was able to request and obtain a partial refund through paypal.

11

Escrow “service” isn’t free.

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12

@Moros

Yup it works a little differently, point is that until you approve that the item received is ok seller wouldn’t get the funds.

@psychotiller

You are correct, but it is nowhere near the PP fees, and what is most important, it is optional… If you are dealing with someone you do trust for whatever reason, than you can go feeless completely

But good points from both of you.

13

If you completely trust someone you can send money via Friends and Family on paypal completely free of fees as well.

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14

Yea but the sellers isnt going to want to wait 2+ weeks for funds to be released then once released, the buyer is out if anything that was previously hidden appears.
I don’t see the point in trying to replace something that is established and works for what it is intended to do with something that is inferior in pretty much every way.

15

TRUTH! at this point you might loose more on the actual value of currency than products being sold here.

good discussion tho, if sellers/buyers want to accept/pay with crypto as an option than go for it.

Scammers come in all forms and will get at you using any platform they can to squeeze a dollar out of ya, they dont care how or what currencies you have.

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16

Or it can go other way around :smiley:

I wasn’t aware of this, my bad.

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17

i think paying with paypal through friends and family is free unless its from country to country.

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18

Country to country doesn’t matter. But different currency do

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19

it definitely could…:wink:

“It Could Happen” is also the lottery “PowerBall” slogan

20

I have my paypal setup with a few different currency’s so if I and paying someone in USD I also send USD and let my bank handle the currency conversion.
This gives me a better currency rate than if I was to pay in euro and have paypal do the conversion.

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