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My experience and thoughts from selling XRP coins on EBAY...BEWARE!


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Hi there,

I would like to share my story so that people have in mind the dangers from selling on ebay and in case you do, how to respond if you have an open case from the buyer (a lot of them open a case of a hacked account or not receiving the coins etc. after they get the coins).

I had sold 302 XRP coins on the 13th of January at a premium price i would say but this is normal when selling on ebay due to fees.

https://www.ebay.co.uk/itm/Buy-302-Ripple-XRP-Cryptocurrency-Coins-Wallet-INSTANT-DELIVERY-/183010941179

After i received the money in my paypal account, withdrawn to my bank account, send the coins, checked on bithomp.com that the money were in the buyers wallet, the buyer opened a case that his/her account was hacked and requested to get the money back.

 

Paypal made my account negative and i rolled up my sleeves and send them this email:

1) Ebay and paypal allows sellers to sell coins (there is a category "virtual currency, mining contracts" so ebay must know how virtual/digital currencies work)!

If there is no case opened, you are happy with the 10% (ebay) and 2-4% (paypal) commission of the sale.

2) It is not my fault or anyones fault if ebay / paypal is not safe and people's account's can be hacked.

In my perspective is your responsibility and your company must compensate your mistakes, not people.

3) I got the money, i had them in my bank account which means i received it.

4) In 2014 and even lately i bought coins on your platform and it was accepted to buy them so i can sell them on your platform.

 

After paypal opened a case that they are investigating and that my balance is negative and that i have to pay them.

What did i do:

1) I explained to paypal the case and that it is their responsibility and ebay off course.

2) I provided a link from bithomp.com that shows the coins transferred to the wallet that was provided to me.

3) I stopped any automatic payment methods i had with paypal meaning if Airbnb or anyone else pays me, paypal gets nothing as they will "hoover" anything.

 

Paypal and ebay should offer:

1) Security to their customers from hackers and take responsibility for that.

2) Protection to sellers of digital currencies or simply ban this category that they created.

It means they are happy with legitimate purchases and get their commission but when a person's account is hacked, they punish the seller.

This story with hacked account is all over in a lot of forums and it is kind of fishy that they are so easily hacked and still carry on offering the category of: coins - virtual currency - mining contracts.  

3) Understand that by screwing sellers is not right and they should offer a responsible solution and pay the buyer on their own since it is their responsibility that the accounts they offers can be hacked.

 

This is what i did send to them and after 1 week i WON the case.

 

Yesterday i added 502 Ripple coins for the amount of 1,800 USD. Indeed a bit higher than the market price but as i pre-mentioned ebay prices for cryptocurrencies is higher than the market x2 or x3 times.

I sold them, got the money, withdrawn them, send the coins, checked that they are in the buyers account and after that i got a message from the buyer that i am a liar, thief and opened a case.

At this time paypal stopped the withdrawal process and took my money back.

 

This is what i send them now and i will not allow them to do this.

 

Dear Sir or Madam,

This is the second time that this is happening.

Buyers buy and pay for cryptocurrency.

As soon as they receive them, they open a case.

I had another case a 2 weeks before.

The same exact story.

It seems that ebay and paypal does not offer any support or protection to it's sellers whilst you protect lying buyers.

I expect to receive my money which i withdrawn to my bank successfully.

Here you can see clearly that i have send the coins:

https://xrpcharts.ripple.com/#/transactions/842BD29653854FFD8A7EF723D5E4CA0DA5A6EEADCDFF62CC570DC815E9FC4DE9

To the wallet that was provided by the buyer: rLxMmKGAwseMz5bBTXyLFPsc9P81NZKhyP

It is clear that the buyer then send these coins to another wallet.

The buyer is a scammer and i demand to receive my money now.

This will not end here and i will not lose this case or any other case when i know that i am 100% RIGHT.

Since ebay offers virtual currency category, they should know how these things work.

When lately i bought 100 XRP from ebay, i did not open a case to the seller because i am an honest, long term client of ebay and paypal.

The coins that i am selling on ebay now, i have bought from ebay using paypal.

If you do not know how cryptocurrency works close down the category or you can ask me or someone who knows, how to create a system so that there are smoother transactions and everyone is happy.

The buyer is lying and he has send me a message that i am a thief!

I ain't no thief and never stole from anyone.

I sold my coins, i got the payment, i withdrawn to my bank account, send the coins and that's it. End of story. The rest are cheeky behaviors in order that the buyer gets his/her money back plus my coins.

I find this unacceptable, non professional and waste of time when i should already had my money which they will be send from paypal anyway at the end because i never ever lost any case that i was RIGHT and i do not intend to lose one now.

 

This is my experience with ebay and i would like to know who else here had any issues with them and any thoughts on this case.

Have a wonderful day,

Phil.

 

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I'll admit I haven't read the post cause I'm actually curious why would one buy/sell coins on ebay or anywhere else other than on exchanges 

I agree, but I divide resources into those that are appropriate for: Day traders  (Twitter / Discord / Exchange Charts) Swing traders (Reddit / XRPChat / Quorra / Official Ripple Twitter

Very sound advice. Especially the research.  I am not a fan of Twitter at all, it is pure emotion.

Just now, Kiir said:

I'll admit I haven't read the post cause I'm actually curious why would one buy/sell coins on ebay or anywhere else other than on exchanges :JC_thinking:

I think my rational about says it... People either can't or FOMO purchase XRP for a premium and then unfortunately get hurt...

Luckily Ebay is so far withdrawn from Crypto that people won't necessarily associate it with the Currency itself

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1 minute ago, HenryHole said:

@marousi - I'm not sure why one would sell on Ebay though? Obviously I can't allow for personal circumstances but surely with all the forthcoming growth in the pipeline, peopl could just hold on and sell the tradtional way?

It might be tempting for someone puzzled by how to get the initial 20 zerps to fund a wallet.  Otherwise, steer clear.  Ebay and PayPal

have turned into a kind of usurious racket.  I have been with them since 1998 when it was far better. 

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@John_Buh - Completely agree...

I think selling Crypto's any way other than the traditional one, simply reduces credibility within the community on the whole. Especially if 'newbies' are purchasing this way... 

Much better IMHO to join the community, read the forums, follow the tweets and research... Then purchase via the recommended routes... But hey... All of this is just advice B)

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1 minute ago, HenryHole said:

@John_Buh - Completely agree...

I think selling Crypto's any way other than the traditional one, simply reduces credibility within the community on the whole. Especially if 'newbies' are purchasing this way... 

Much better IMHO to join the community, read the forums, follow the tweets and research... Then purchase via the recommended routes... But hey... All of this is just advice B)

Very sound advice. Especially the research.  I am not a fan of Twitter at all, it is pure emotion.

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