Courtesy Post For All - Do NOT Sell Any Cryptocurrencies Through Ebay and PayPal.
This is a quick courtesy bit of information for any novice cryptocurrency investor but if you for any reason get an itch to attempt to sell Cryptocurrencies through the use of EBay thinking that you'll reach a large audience and be able to mark up your cryptocurrencies then you are making an overwhelming big mistake.
I have heard several people talking lately about doing this on forums I've read (mainly complaints about EBay and PayPal) and here's what I've gathered.
EBay
EBay apparently in its fine print somewhere buried in its policies states that the use of the EBay platform to sell digital currencies is either prohibited or not supported and that if you choose to use this site that you are supposed to list your cryptos under the classifieds which cost about $10 just to list.
Here is what actually happens though. You list your cryptocurrencies, someone buys them rather soon after you list and pays promptly and swiftly provides a wallet address. You believe since you got paid and received the funds to your PayPal that you're in the clear so you send your cryptocurrencies to the specified wallet address. Moments later or days later after your cryptocurrencies are gone, the owner of the account files a claim with EBay saying their accounts were hacked and that they did not make those transactions.
This happens countless time on EBay everyday which is mind boggling to me.
PayPal
Here's where it really gets bad. PayPall also has a fine print disclaimer buried somewhere in its policies that using their platform to collect money for the sale of digital currencies is prohibited. If you cannot provide a physical shipment delivery tracking number and txid's do not suffice then PayPal will automatically cause you to lose the open dispute case for the supposed fraudulent purchase and will swiftly refund the buyer the money from your account.
You will lose your cryptocurrencies plus you will lose the money you had collected originally from the buyer and will basically have lost twice your money.
You will never will an open dispute when it comes to cryptocurrency on PayPal and there is no one in their right mind Buying Cryptocurrencies on EBay instead of direct through and exchange.
Summary / Food For Thought
Why would anyone go on EBay and buy cryptocurrencies at a markup or premium when they could just buy it directly from an exchange? And why would anyone have a wallet address for the specified cryptocurrency and not be able to buy the cryptocurrencies themselves?
Just be smart and please do not by any means be a seller of cryptocurrencies on EBay because you will get royally burned and I'd hate to see anyone in the crypto space get burned because we all want to see this space succeed!
Watch out for all those Con Men out there!