Difference between revisions of "CoinPal"

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(Add see also section with entry for Buying bitcoins. Add mention of CoinCard sister site.)
(See Also: Add entry for blog post describing the shutdown and impact.)
 
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'''CoinPal''' is an exchange that accepts [[PayPal]] for customers relatively smallish order sizes and a weekly limit on purchases.
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'''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>.
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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 operator of the site also operates [[CoinCard]] for [[selling bitcoins]].
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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>.
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==Weekly Limits==
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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.
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{| class="wikitable"
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|-
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! Minimum days since customer's first order
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! Weekly limit
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|-
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| 0
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| 20
 +
|-
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| 3
 +
| 40
 +
|-
 +
| 7
 +
| 60
 +
|-
 +
| 14
 +
| 100
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|-
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| 45
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| 160
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|}
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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>.
  
 
==See Also==
 
==See Also==
  
 
* [[Buying bitcoins]]
 
* [[Buying bitcoins]]
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* [[Selling bitcoins]]
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* [http://www.bitcoinmoney.com/post/5086167006/paypal-freezes-out-coinpal So long, CoinPal, and thanks for all the bitcoins!]
  
 
==External Links==
 
==External Links==
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==References==
 
==References==
 
<references />
 
<references />
 
[[Category:Exchanges]]
 

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

References