Frequently Asked Questions
- When do the purchase limits reset?
-
Purchase limits are based on a rolling seven day
period. (The preceding 168 hours). To determine when your purchase
limits reset, look at the times on your
Bitcoins have shipped
emails.
- Why do you require a verified PayPal account?
-
To reduce the likelihood of fraudulent payments.
PayPal transactions can be reversed after the fact. Bitcoin payments
cannot. This makes PayPal purchases susceptible to fraud. Fraudulent
buyers are less likely to have a verified account. Requiring
verification provides minimal assurance that the buyer is reputable.
- Why require my PayPal email every time?
-
To protect you in case your PayPal login credentials are stolen.
If a thief compromises your PayPal account, he probably didn't
compromise your email account too (you do use distinct passwords,
don't you?). Making sure you control both your PayPal and email accounts
at the time of purchase reduces the risk that a fraudulent purchase
is underway.
- Why require my email address to see detailed prices?
-
Volume limits and exact prices
depend on a customer's order history
and order size. Customers who have
placed many successful orders are given higher
weekly purchase limits. We need your email address
to know all the details that affect pricing.
- How can customers pay me in Bitcoins?
-
Use the API to pre-populate an order
form with your name, Bitcoin address and amount.
Give the resulting link to your customers.
They enter their own PayPal
email address and pay with PayPal, but you receive Bitcoins.
Incidentally, you have no risk of a chargeback on these payments.
- Can I use PayPal's Send Money tab to pay?
-
No.
- Do you buy back Bitcoins?
-
Yes. I buy Bitcoins through
CoinCard. There you can
sell your Bitcoins for PayPal payments or gift cards.
