Scam Alert: BTCPromo Will Exchange Bitcoins For Paypal, Except When They Don't
BTCPromo is an unknown and unverified Bitcoin exchange that claims to exchange Bitcoins for Paypal payments, allowing users to potentially turn their Bitcoins into dollars stored on the Paypal network. The problem is, several customers are alleging that BTCPromo is keeping their Bitcoin and without paying for it. There are a few things that should tip off anyone savvy enough to be playing in the Bitcoin game. First, any Bitcoin to Paypal site is already suspicious. Paypal hasn't supported bitcoin in the past and if the “exchange” decides to issue a chargeback, there is little to nothing....
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Bitcoin to U.S. Dollar direct exchange BTCpromo.net has recently come under fire regarding their shady business practices. The term “scam” is a common theme. It seems the “Sell Bitcoins for Dollars in PayPal” technique that they’re currently using is giving sellers the short end of the stick. BTCpromo is registered to Queensland, Austrailia. However, the owner of BTCpromo signs all of the messages with “btc Προμο.” I’m not suggesting that’s a red flag, as the world is turning into one great melting pot. A red flag however would be that searching for the Queensland address brings up....
There are good ways to sell your bitcoins when you need cash, and there are bad ways. CCN has documented numerous bad ways over the years, sometimes with victims writing in to us. Other times we just happen to notice a scam going on, and make haste to inform our readership about it. And still other times, readers write in to let us know that something doesn't seem right. There are times when we will reserve the word
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