CoinPal: Difference between revisions
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→See Also: Add entry for blog post describing the shutdown and impact. |
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'''CoinPal''' | '''CoinPal''' was an exchange that accepted [[PayPal]] for relatively small order sizes and a weekly limit on purchases. | ||
The site was first publicly available on December 31, 2010<ref>[http://www.bitcoin.org/smf/index.php?topic=2555.0 CoinPal beta - Buying bitcoins with PayPal]</ref>. On January 14th, 2010 CoinPal introduced an API that allows merchants and others seeking payment to use the service to accept micro-payments<ref>[http://www.bitcoin.org/smf/index.php?topic=2555.msg38148#msg38148 Re: CoinPal beta - Buying bitcoins with PayPal]</ref>. The operator of the site also operates [[CoinCard]] for [[selling bitcoins]]. | The site was first publicly available on December 31, 2010<ref>[http://www.bitcoin.org/smf/index.php?topic=2555.0 CoinPal beta - Buying bitcoins with PayPal]</ref>. On January 14th, 2010 CoinPal introduced an API that allows merchants and others seeking payment to use the service to accept micro-payments<ref>[http://www.bitcoin.org/smf/index.php?topic=2555.msg38148#msg38148 Re: CoinPal beta - Buying bitcoins with PayPal]</ref>. The operator of the site also operates [[CoinCard]] for [[selling bitcoins]]. | ||
On April 30th PayPal froze the exchange operator's PayPal account and the exchange announced that service had ended<ref>[http://www.bitcoin.org/smf/index.php?topic=2555.msg101084#msg101084 CoinPal beta - Buying bitcoins with PayPal]</ref>. | |||
==Weekly Limits== | |||
There was a limit on the number of bitcoins each customer can buy each week. This limit depends on the amount of time that has passed since the customer's first order. | |||
{| class="wikitable" | |||
|- | |||
! Minimum days since customer's first order | |||
! Weekly limit | |||
|- | |||
| 0 | |||
| 20 | |||
|- | |||
| 3 | |||
| 40 | |||
|- | |||
| 7 | |||
| 60 | |||
|- | |||
| 14 | |||
| 100 | |||
|- | |||
| 45 | |||
| 160 | |||
|} | |||
Those trading on [[Bitcoin-otc|Bitcoin OTC]] can increase their weekly purchase limits by connecting CoinPal to the [[Bitcoin-otc|OTC web of trust]]<ref>[http://coinpal.ndrix.com/user/gpg Authenticate with a PGP Key]</ref>. | Those trading on [[Bitcoin-otc|Bitcoin OTC]] can increase their weekly purchase limits by connecting CoinPal to the [[Bitcoin-otc|OTC web of trust]]<ref>[http://coinpal.ndrix.com/user/gpg Authenticate with a PGP Key]</ref>. | ||
| Line 9: | Line 35: | ||
* [[Buying bitcoins]] | * [[Buying bitcoins]] | ||
* [[Selling bitcoins]] | * [[Selling bitcoins]] | ||
* [http://www.bitcoinmoney.com/post/5086167006/paypal-freezes-out-coinpal So long, CoinPal, and thanks for all the bitcoins!] | |||
==External Links== | ==External Links== | ||
| Line 16: | Line 43: | ||
==References== | ==References== | ||
<references /> | <references /> | ||
Latest revision as of 00:29, 3 May 2011
CoinPal was an exchange that accepted PayPal for relatively small order sizes and a weekly limit on purchases.
The site was first publicly available on December 31, 2010[1]. On January 14th, 2010 CoinPal introduced an API that allows merchants and others seeking payment to use the service to accept micro-payments[2]. The operator of the site also operates CoinCard for selling bitcoins.
On April 30th PayPal froze the exchange operator's PayPal account and the exchange announced that service had ended[3].
Weekly Limits
There was a limit on the number of bitcoins each customer can buy each week. This limit depends on the amount of time that has passed since the customer's first order.
| Minimum days since customer's first order | Weekly limit |
|---|---|
| 0 | 20 |
| 3 | 40 |
| 7 | 60 |
| 14 | 100 |
| 45 | 160 |
Those trading on Bitcoin OTC can increase their weekly purchase limits by connecting CoinPal to the OTC web of trust[4].
See Also
External Links
- CoinPal.ndrix.com web site