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Obviously if you are American or you live somewhere where you have the opportunity to just buy a Visa (or Mastercard) gift card in a store for cash: you can't go better than that. But I don't have that opportunity around my country.

So how would you pay someone (not a big amount) with credit card or Paypal if these are the only payments accepted by the merchant and you simply want to stay anonymous?

If I understand correctly, the hefty fees are if you want to exchange credit card or Paypal to bitcoin because they are reversible payments but for the other way around (bitcoin to credit card or Paypal) there shouldn't be extra fees, correct?

Is Bitcoin-OTC the place to go? What are best practices for this procedure? Is there a newbie-friendly non-techie guide to Bitcoin-OTC?

Is there such a thing as a truly legitimate no-name reloadable Visa/Mastercard or only the once-loadable gift cards are available?

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2 Answers

Taking a quick look here: https://en.bitcoin.it/wiki/Selling_bitcoins reveals that BTC-E is capable of doing PayPal withdrawals.

I'm not sure how closely it meets your requirements, and PayPal clearly requires you to provide personally identifiable information, but it could be helpful.

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There are prepaid credit card that exists you just buy them at a convenience store for cash and you can go make transaction with bitcoin-otc.

To get started on bitoin-otc try out this, it explains you how to setup your bitcoin-otc with a bitcoin address, which is simpler than Gnupg (but I like gnupg more).

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OP has indicated that the prepaid credit cards are an obvious solution for Americans (and few other countries that make them so readily available) - most of the world is a tad more complicated. –  qdot Feb 2 '13 at 18:09
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