Bitcoin exchange rate paypal
A PayPal account can be funded with electronic debits from a bank account, from a MoneyPak card or by receiving a money transfer from another PayPal member. Funds in a PayPal account can be withdrawn to a bank account or by sending a money transfer to another PayPal member.
The fee for transferring money to another PayPal member can vary based on options. The transaction charge is deducted from the payment amount. A "personal, payments owed" transaction to another PayPal account where the recipient's account is not a business account will incur no transfer fee. When a payment is funded from a linked bank account, an ACH transaction is made. There appears to be differences in the type of ACH transaction depending on where the PayPal payment was sent.
For payment from a U. PayPal account to another U. PayPal account to a PayPal account that is outside the U. Accompanying the IAT transaction is the payment recipient's name. In other words, more information is transmitted to the bank when the PayPal transaction is for a payment that crosses borders than might be sent for a payment that stays within the U.
Unlike over-the-counter transactions, there is no risk of losing money due to people not fulfilling their part of the deal, as long as the exchange itself does not commit fraud or withhold money. Exchanging is done by placing "buy" or "sell" orders, which the exchange system software then matches with each other. If the bid price of a buy order is higher than the ask price of a sell order, an exchange can be performed and either the bid order, the sell order or both can be removed from the "order book".
Thus, at any given time, there is a price above which there are no more buy orders and a slightly higher price below which there are no more sell orders. Communication with the Bitcoin currency exchanges is commonly done using a standard web browser, over a secure SSL connection. Exchanging bitcoins for other forms of currency brings up some issues regarding chargeback fraud. Specifically, payment methods such as credit cards, and PayPal, can be reversed up to 90 days after the transaction took place.
In contrast, bitcoin is a "hard currency", once you spend bitcoins, you cannot get them back by 'pulling' from your side. Thus, when you trade bitcoin for a 'soft' currency like paypal or credit card, you open yourself up to the risk of chargeback after you send bitcoin.
The buyer may initiate a chargeback by claiming non-receipt of goods, or if a stolen account was used, the real account owner will initiate the process once he notices a charge he didn't make. As a result, it is strongly recommended to not trade 'soft' currency for 'hard' currency with people you do not know or trust. In January, , an open source currency exchange platform was released by the founder of Bitcoin Central. The two major exchanges at the time, Bitcoin Market and MtGox , were hit with a wave of PayPal scams in October , where one or a group of individuals used stolen PayPal accounts to fund their exchange accounts to buy bitcoins.
This has caused the freezing of the Mtgox paypal account, and a suspension of new user registration on Bitcoin Market. These account freezes caused a temporary liquidity problem for the bitcoin economy, as it became more difficult to exchange dollars for bitcoins. The exchange rate of Bitcoin has shown relatively stable growth since the beginning of Bitcoin has been criticized by economists for bubbling up around itself, similar to the housing market in the US before the crash and it is true that Bitcoin has shown a tendency for rapid rises and crashes in price.
However, given the instability of the global economy, Bitcoin has proven to be a reliable investment compared to many other popular currencies.