Kelz. (11-26-2019)
Advice for BTC Exchange to PayPal. (Beware of Scammers)
Don't sent your PayPal Payment without getting Confirm on your BTC Payment.
Some one tried to Scam us and Tried to let us send our paypal payment without getting confirm on his btc payment, but We refused
You can check his btc payment here (got Invalid)
https://www.blockchain.com/btc/tx/f5...56120014aaf59a
Kelz. (11-26-2019)
and you need to watch for scammers. idk if you run into to but I used to take paypal for BTC and I have people who would scam someone else. give them my paypal and then talk to me saying oh I want this much BTC. They get the person who they are scamming to pay me and then I send them the BTC, days or weeks later ill get a chargeback and its not the person who I sold too.
No way to know this will happen but it does. and it sucks. but its not too bad its just a loss of a paypal account.
I always assumed 1 confirmation is fine.
I see many websites wait for 2-3, sometimes even more. Can anyone with more knowledge share some light on this?
Maybe @Allura ?
Personally I wait for 5 confirmations.
The reason why you should wait for more confirmations is just in case the scammer send 2 transactions at the "same time" and different miners are mining the transactions at the same time. Then the transaction with the least confirmation would be not be included in the blockchain.
Of course, the higher the value of BTC you are dealing with, the more confirmations I would wait for, just to be safe.
Danny (11-08-2019),jokerarise (11-26-2019),Luverdark (11-01-2019),Money (11-03-2019),StrongCore (11-01-2019)
Luverdark (11-01-2019)
Yes I knew about this. Like if you send a bitcoin snap qr of a payment and If they don't pay the enough, It gets reversed even tho its says sent.