Best way to store money online?

[Aurora]

Trying to start an intresting debate about peoples opinions on storing there money online.


Mine would be bitcoin, as paypal sucks and i've lost $7k to them in the past year due the limitations and always needing 100% correct info.


Bitcoin seems to be the future, even if you're always on your toes about the price dropping hard.


What's your favourite?

[nrael]

Bitcoin is the way to go. Anonymous and easy to store. Price drop is not to bad as bitcoin price will rise, no limitation and easy to store money on different wallets like paper wallets.

[truecam]

The main problem I see with bitcoin, at least in the US, is the regulation it will face by lawmakers. Some type of Crypto currency will obviously replace paper money in the future, but I question if the anonymity that bitcoin has will stay. For now using bitcoin is not too dangerous, but a long term investment in bitcoin would be. Just my 0.00007703 BTC.

[Kulverstukas]

Paypal is great for legit people, just don't be stupid about your passwords

[Mr 0x5f]

Paypal is great for legit people, just don't be stupid about your passwords

I guess that would depend on your definition of "legit". Paypal takes it upon themselves to refuse business with all sorts of perfectly legal businesses. They just decide they do not want any part of it and cut you off...most often seizing your funds in the process.

The list of prohibited businesses is huge, but most importantly for me clearly states that "Computer Tech Support or Repair" is a forbidden business. I lost over 2K when they seized my account and never took payment from folks I had already done work for and had already had the payments clear.

They also say no sexual materials, hair weaves, lotteries, kratom and other herbal drugs...no referral services, bongs and pipes, or training courses, the list goes on and on...

Fuck Paypal.

[0E 800]

@OP

Bury your money. Don't put all your eggs in one basket.
Lost 7k? I don't think I would just let that happen without a fight.

Bitcoin is volatile. Why not invest in your 401k?

@Mr 0x5f

I dont see where it says you cant do computer repair.

_{From: https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full}

Prohibited Activities
You may not use the PayPal service for activities that:

violate any law, statute, ordinance or regulation.
relate to transactions involving (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, (b) drug paraphernalia, (c) cigarettes, (d) items that encourage, promote, facilitate or instruct others to engage in illegal activity, (e) stolen goods including digital and virtual goods, (f) the promotion of hate, violence, racial intolerance or the financial exploitation of a crime, (g) items that are considered obscene, (h) items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction, (i) certain sexually oriented materials or services, (j) ammunition, firearms, or certain firearm parts or accessories, or (k) certain weapons or knives regulated under applicable law.
relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f) are associated with the sale of traveler's checks or money orders, (h) involve currency exchanges or check cashing businesses, (i) involve certain credit repair, debt settlement services, credit transactions or insurance activities, or (k) involve offering or receiving payments for the purpose of bribery or corruption.
involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent.
 

Activities Requiring Approval
PayPal requires pre-approval to accept payments for certain services as detailed in the chart below.

Service Requiring Pre-Approval
Contact Information
Airlines and scheduled or non-scheduled charters/jets/air taxi operators; collecting donations as a charity or non-profit organization; dealing in jewels, precious metals and stones; acting as a money transmitter or selling stored value cards; selling stocks, bonds, securities, options, futures (forex) or an investment interest in any entity or property; or providing escrow services.
Please send contact information, business website URL and a brief business summary to compliance@paypal.com
Providing file sharing services or access to newsgroups; or selling alcoholic beverages, non-cigarette tobacco products, e-cigarettes or prescription drugs/devices.
Please send contact information, business website URL and brief business summary to aup@paypal.com
Activities involving gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, fantasy sports, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not legally defined as gambling) and sweepstakes, if the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.
Please send contact information, business website URL and brief business summary to aup@paypal.com

Update: speaking of 'speaking of the devil', I just received this email from paypal:

Dear *****,

We like to keep the entire PayPal network safe and secure, and that includes your PayPal account.

To do this, we regularly check the activity that occurs throughout the network. Based on a recent review of activity, it appears your PayPal account has been used (directly or by assisting another customer) for deposits from My Cash cards, but the funds have been withdrawn/transferred out of the PayPal system to a bank, online bank, ATM or prepaid card. We're not sure you're aware, but the My Cash feature is intended to allow PayPal customers to make deposits and then use those funds for retail purchases.

PayPal values your business, but, if we continue to see activity where My Cash cards (or similar products) are used to add funds to your PayPal account and those funds are subsequently withdrawn/transferred out of the system, we may have to limit or close your PayPal account.

Guess I wont be seeling BTC for PPMC. Paypal wants me to spend their money on online retailers and not use the PP debit card or transfer PPMC to my bank. Anyone know a way around this?

[Schalla]

Use a second account to transfer the money to that one of a good friend / family member / fake account maybe.