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I have, recently, started earning some Bitcoins from CoinURL.com. I want to know all the options available for converting these earned Bitcoins to Paypal USD.

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    If you are obtaining this income from the bitcoin community, wouldn't it be good business to then patronize a Bitcoin merchant for at least some of this income? There are so many things you probably are already paying for where there is a way to make the same purchase in bitcoins. Some options are even cheaper in bitcoins, such as prepaid wireless in the U.S., for instance. - en.bitcoin.it/wiki/Trade
    – Stephen Gornick
    Jul 15, 2012 at 2:16
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    @StephenGornick: I understand you in full spirit but bitcoin system doesn't have many (rather any) options in my country. I guess, a fair option for me will be to exchange them with someone who can use them with the bitcoin merchants.
    – Abhishek M.
    Jul 15, 2012 at 4:44

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The factors that matter for any cash-out decision are:

  • Where are you located (country)?
  • How much are you looking to trade?
  • What type of cash are you looking to receive?
  • How soon do you need access to the proceeds?
  • Is privacy important?

Specifically for cash-out to PayPal, options include:

Other ones that are not as widely known -- proceed at your own risk:

What might exist is a service that lets you pay for charges with Bitcoin and then the recipient gets to withdraw the proceeds of the sale using PayPal. So you would simply need to sell to yourself.

For example, I see that Fiverr accepts BItcoin for payment: http://blog.fiverr.com/fiverr-now-accepting-bitcoins and I believe they offer withdrawal via PayPal http://www.youtube.com/watch?v=px_eYHCgGZ4. So you simply would create two accounts, list a task, and transact with yourself. Obviously the account for buying (and paying with Bitcoin) would need to be something that you wouldn't want associated with your real identity. Additionally, you probably want to do the listing with one IP address and the buying on another just in case they check for that kind of stuff.

Maybe when PayPal is a cash-out method for Amazon (coming, apparently http://recode.net/2015/04/09/paypals-big-change-it-can-work-with-amazon-after-ebay-split/ ) then maybe you can sell to yourself (buy Amazon gift cards to pay, then cash out to PayPal from the proceeds of the sale to yourself.)

BitLanders is another service that lets you trade with yourself, paying with Bitcoin and withdrawing in PayPal. Also, apparently if your sales aren't enough to cover your withdrawal amount you can make up the difference with Bitcoin.

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  • I'm pretty newbie to bitcoin and most of those factors go over my head for now. My bitcoin source is consistent and I will be getting them on regular basis. I'm looking for PayPal USD as it is the only service that allow withdrawals (low fees) to my country. Private exchanges are obviously preferable.
    – Abhishek M.
    Jul 15, 2012 at 5:16
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    If you accumulate enough to meet the Fastcash4Bitcoins.com minimum, then that's probably your best bet then.
    – Stephen Gornick
    Jul 16, 2012 at 18:52
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bitinstant now does btc-> paypal. also you could try selling coins for paypal to individuals on bitcoin-otc (though you have to watch out for chargebacks).

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    yes, the chargebacks are really an issue to look after. I have been deceived few times trying to sell Amazon.com Gift Certificate Codes (so I moved to this service). And one more thing, I'm checking out Bitinstant right now. I can not find btc to paypal option there, only coupons to paypal.
    – Abhishek M.
    Jul 15, 2012 at 1:04
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You have for example https://www.spendbitcoins.com/, http://www.fastcash4bitcoins.com/ and https://www.bitinstant.com/.

PayPal is notorious for freezing accounts of people who use it for Bitcoin conversions, so it is not clear how sustainable these services are.

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    I came to know about these sites after yesterday's extensive internet searching about BitCoins. Question is are they genuine and can be trusted ? Is there any work-around about this PayPal problem ?
    – Abhishek M.
    Jul 15, 2012 at 1:20
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    @AbhishekM.: Yes, these services can be trusted.
    – Meni Rosenfeld
    Jul 15, 2012 at 3:52
  • I would appreciate if you mention the sites that worked for you.
    – Abhishek M.
    Jul 15, 2012 at 5:20
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    @AbhishekM.: The only BTC->PayPal service I've used is CoinCard (coincard.ndrix.com), which was excellent but unfortunately is no longer doing PayPal. But the sites I mentioned have existed for a long time and/or are run by well-known and respected members of the Bitcoin community. Note also that the level of trust required for an immediate exchanger is much lower than for an exchange that keeps deposits.
    – Meni Rosenfeld
    Jul 15, 2012 at 7:07
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There is an IRC channel #bitcoin-otc in which people trade bitcoins with each other. There are often people there wanting to buy Bitcoins for PayPal. http://bitcoin-otc.com/ will tell you about the channel, and how to register with the channel's bot to build trust with the users there.

Be way accepting PayPal for bitcoin, since PayPal is reversible and Bitcoin isn't. Check the rating of the person buying your bitcoins and be very careful before dealing with people who have low ratings.

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This site https://www.bitcoinary.com/ is providing exchanges with paypal also. But it is build on different scheme. You are relying on people rather than market.

One thing to be aware of is secure connection which does not work for me, although it can differ with others.

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On Jul 14 2012 at 10:13 Abhishek M. wrote "I want to know all the options available for converting these earned Bitcoins to Paypal USD."

There are nine different bitcoin debit cards available on the first 10 results when you Google 'bitcoin debit cards':

https://www.google.com/search?q=bitcoin+debit+cards

ANXBTC.com says "let your Bitcoins do everything your credit cards can do" and "Spend your bitcoins on a global network that has over 25 million merchants just like any credit card!". https://anxbtc.com/pages/card

Xapo.com says "swipe it at your favorite brick and mortar merchants or enter the card information at any online destination". https://xapo.com/wallet/ This is not necessarily all rosy, because when you read the fine print you may see shocking bitcoin debit card fees. However, not all bitcoin debit cards are the same, and players do change their offers and have special deals.

A more comprehensive look would involve the analysis of the withdrawl fee structure for bitcoin debit cards, and all associated expenses, and then compare that to total Paypal fees. Perhaps a debit card could work for you, and you won't have to risk your capital with Paypal in the United States.

Finally, crypto technology firms like ShapeShift.io and HolyTransaction.com offer the ability to shape your bitcoin into many other cryptocurrencies. These types of services can be blended with other perhaps local companies, and could give you more options for exchanging the value of your earned bitcoins affordably, easily, and with possibly lower withdrawl costs than Paypal.

Many consumers find bitcoin backed debit cards are a convenient and affordable alternative to traditional payment systems.

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Understand that your solutions are most likely to be expensive and corporate*. PayPal is not a fan of Bitcoin and you won't find many individuals willing to to accept PayPal for Bitcoin, and you should, too, be wary of accepting PayPal as an individual.

See also: Why shouldn't I accept PayPal when trading bitcoin?

*corporate means not an individual, but a company with established rapport and customer base, with sufficient means and experience to navigate or mitigate the high potential for chargebacks when selling BTC via PayPal.

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You should try using localbitcoins. they have an option to sell bitcoin for paypal and vise versa and the sellers are legit. There are limits and there is a commision % but the sellers have high reputation and are reliable. For a detailed tutorial how you can visit this blog: http://www.btcfeed.net/tutorials/convert-paypal-to-bitcoin/

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