Hey, so I just wanted to share with you my today's experience. I've decided to go on a friends meetings in "Paralel Polis" which is a bitcoin coffee house in Prague, Czech Republic. Also it's the world's first bitcoin-only cafe.
You cannot pay with czech crowns or any other currency. You are only able to buy bitcoins there via their bitcoin ATM machine. It was really cool and I fully recommend to visit one of these ;)


Some more information:
Coffee house itself - http://www.paralelnipolis.cz/bitcoinmeetup-en/
An article - http://www.ibtimes.co.uk/parallel-polis-worlds-first-bitcoin-only-cafe-launches-prague-1472850
The bitcoin ATM machine - http://coinatmradar.com/images/generalbytes/generalbytes_bitcoin_atm_abb810a.jpg

PayPal is one of the most commonly used methods for exchanging money online, but it presents a number of problems when used for Bitcoin Exchanges. On top of using PayPal for currency exchange being against PayPal’s TOS which could get your account banned, every transaction runs the risk of being charged back. There are a number of things you can do to minimize risk, but nothing completely negates it.

Important rules to follow when dealing with bitcoins.

- Avoid dealing with an unverified PayPal.
- Never deal with users who pay from multiple PayPal accounts.
- Avoid sending your money first if at all possible.

The main issue with selling bitcoins for PayPal (aside from the TOS violations) is that a PayPal transaction can be disputed, but a bitcoin transaction can’t.

Underage people usually exchange for paypal because they cannot cash out because of a bank account or etc... Also buying BTC might cause issues because you need to be older than 18 to have a wallet on most sites.


Where to buy Bitcoin?

- www.coinbase.com
Buy Limit: $10,000/Day ($1000/week instantly available)
Sell Limit: $50,000/Day

- www.localbitcoins.com - Some of these people accept PayPal.
Buy Limit: Unlimited
Sell Limit: Unlimited

- www.circle.com
Fees: 0% Bank, ~3% Credit Cards (plus cash advancement fees)
Buy Limit: $3,000/week ($2,500 bank, $500 credit card)
Sell Limit: $6,000/week

- www.BTC-E.com
Fees: 0.2%
Buy Limit: Unlimited
Sell Limit: Unlimited

Many ask me why I made a huge switch from PayPal to Bitcoin.

- No Chargebacks.
- Safe (depending on wallets)
- Easy to use.

But espionageeeeeeee the price changes every single second... what do you do? Simple answer to that question. The reason why I make everyone use the BTC-E rate is because I have BTC-E account. BTC-E is an exchange where you sell the bitcoin you receive for USD. Once you have converted your BTC to USD you can let your USD sit there with no worries. If the BTC price changes, your USD stays the same. Whenever you need BTC, just buy it and withdraw.


A safe American wallet you can use;
- Coinbase

http://gyazo.com/6f093d32da48a54fa3f493b047a6a9f1

An exchange;
- BTC-E

For obvious reasons.

A quick, easy, & user friendly wallet;
- Blockchain

Not on par with others on security, but it is quick and easy to use.

Would not recommend any offline wallets because if your HDD gets infected or damaged then your bitcoin is lost (if you have no back-up).

Correct me if I'm wrong, I've barely had any experience with any offline wallets.

Source: http://www.preev.com/

Just for those who slept for a while as I did :)