Bitcoin to Paypal and Bitcoin to Debit Card Loads; Are They Always Risky?

Throughout the past 6 years, I have been selling bitcoin using a wide variety of ways. You could literally say that I tried almost every exchange service, or bitcoin exchanger,  out there and every exchange route that would turn my bitcoins into fiat cash that I can spend, especially that I have been receiving my monthly paycheck fully in bitcoin throughout the past 4 years or so.

Selling Bitcoin for Debit Card Cash Loads:

Despite its risk, I tried to sell my bitcoins for debit card loads, in times when I needed urgent cash in a matter of hours. It goes without saying that attempting to sell bitcoin for debit/credit card cash loads can be extremely risky, given the fact that the buyer of your coins can initiate a chargeback and you will be left with neither your bitcoins, nor your card’s cash load. Even with services like Paxful and localbitcoins, which have feedback systems to help you identify honest buyers and fraudulent ones, attempting to sell your bitcoins for debit/credit card cash loads is still risky. Con artists will build a reasonable positive feedback before starting to engage in fraudulent trades, so you can never know when the mask will rip off a scammer.

It’s better to apply for a bitcoin debit card that is offered by many bitcoin exchange services. I have used Cryptopay‘s Debit Card for years to sell my bitcoin for cash and card loads were always on time. Spectrocoin‘s card is also great and bitcoin to card loads are instant.

Selling Bitcoin for Paypal:

Another risky exchange route is to try sell your bitcoins for Paypal. If you attempt to sell your bitcoins for Paypal, using P2P services like Paxful or localbitcoins, you are doomed, as you will mostly be faced with a chargeback that can ruin your Paypal account. Nowadays, scammers have a new way to deceive you; they will send you a gift card via many services such as Giftrocket, with your transferred amount. After redeeming your card and receiving a confirmation that the payment will be added to your Paypal account, the buyer can simply cancel your gift card, so after sending your bitcoins to that fraudulent buyer, you will be left with nothing.

I don’t recommend selling your Bitcoins for Paypal money, not only due to the associated risks, but also due to the high fees associated with Paypal transfers. However, if you have no other choice, I recommend using one of the most reputable centralized exchanges such as Unichange.me. I have been exchanging bitcoin to Paypal via Unichange.me for over a year now, and I have never had a problem with them, apart of course from their high transaction fees.

There are other exchange services that are safe for such an exchange route; I have used best-xchange.com many times during the past four years to sell bitcoin for Paypal, and I have never had to deal with any chargebacks related to any of their Paypal payments to me; however, their fees are inappropriately high. I even sometimes had to buy some Bitcoins from them too, they always delivered, but their fees for buying bitcoin are astronomical.

To sum up, it can never be emphasized enough how selling bitcoin for Paypal, or debit.credit card loads, can be risky; however, if you have your back against the all, there are a number of safe ways to do these exchages; just keep away from P2P services and try one of the centralized schanges that have some good reviews. Bitcointalk.org is an ideal place for looking for reviews to assess an exchanger before using it.