Investment Options with paypal / paxum
 

Here is the thing, because of the political economy of my country (argentina) I can't withdrawal money from paypal to any bank account, and the official dollar exchange rate is like 20-50% behind the price you can have if you sell the dollars outside the financial system (it is long to explain the shit they are doing here) but you can't cash out dollars in a atm, it will be converted in pesos. If i cash out $100 with my paxum in an atm i get 600 pesos, but if i had those $100 in a bill in my hands, I could exchange it for 900-1000 pesos to someone who want it for savings.

So..everytime i cash out from my paxum card $100, i lose like 400 pesos more or less, and I'm tired of losing money, but I don't want to keep all my founds in my paxum / paypal account either because of the risk of sh*t happening in a future.

That being told, I want to keep my dollars safe in something i can buy, where i dont lose money (if it can generates interests it would be great, but if it is just keeping the value of the money it would be ok).

I don't want bitcoins because the risk of the price to getting low, (which i'm sure it will happen in a near future)

Do you know any kind of trusted investment to do?.. and again I don't care of having profit with it, just want to keep the money in a safe place.

Thank you

US Savings bonds.. double in 7 years

You talk serious ?
 

You say ,"don't care profit",but i can't understand why make this ? FOR FREE ?:thumbsup

Buy copies of the middlemen and resell them

(nah just kidding, oh btw see sig)

Well much as I normally wouldn't recommend keeping funds in Paxum or Paypal or any other such online payment system long term, when the choices are an Argentinian bank (or mattress) or an "investment scheme" that will accept deposits from a guy in Argentina paying by Paxum or Paypal, then leaving it in Paxum or Paypal starts to sound like the lower risk option......

Don't use paxum?

Get wire transfers directly to your bank account.

cyprus ? no i'm kidding....

Buy things from ebay and sell them for the same or higher price. Not only you would cash out on the correct exchange rate but you also may profit.

first of all thanks for your time, i will answering some of your advices/replies


how can i access to that with paypal / paxum ? :disgust


you didn't understand.. i would like to keep the value of the dollar..but here in argentina i can only get devaluated pesos, (30% inflation/year) and you can't get dollars for savings here.

the risk is low when the money is low too.. but now i have more than a year of earnings there, so losing everything won't be so easy to take.


again, I'm in argentina, you can't do that, the bank would convert me the dollars to pesos at the official exchange rate wich is a real bullsh*t..not even close the real value the dollar has here.

I started to do that with ipods and some smartphones, but it has its problems.. like warantee, time from buy and sell, customs..etc..but yeah is the best option for low ammounts, I cant buy so much or customs will threat me like an importer and fuc*d me up!

Btw, i heard that after the crisis, everything is now fine in argentina, but your message seems to suggest the opposite.

Buy gold~

I can't do it with paypal / paxum.. (only in ebay send it with the post, but if it stoped by customs i will have throubles indeed)

since the big crisis in 2001 everything went better (it couldn't go worse.. seriously) until 2005/2007.. then the everyday prices was going up up and up..! the people then wanted to keep the value of the money buying dollars, and the price of it went up.. the central bank loses big ammount of it reserves just to keep the exchange rate not to big for years.
The inflation went sky-high in the next years (and it is still like 30% annual) and people beeing affraid for another devaluation demands more and more dollars.. so, what do they do?
the goverment forbid the selling of dollars for no reason, they only sell you if you need to travel, and the money they want to (most of the times the ammount is ridiculous) so there is a black market of dollars wich is the real value of it.. with a +50% of what the gov says the dollar has.

Thats the deal with the dollar thing here.. there are a lot of other problems like the inflation because they giving away pesos to the lower class just for beeing like that, so they don't need to work!! just get money from the goverment for doing nothing with the money of the rest of the working class..

the salaries are raised too late in comparisson with the living cost.. etc etc.

There is a lot of problems here, and personally I think everything will ends with a new devaluation soon, so I was looking for save my dollars somewhere.

ok thank you for your answer, it's rare to have a real information.
Unfortunately i don't have a solution for your problem that i would use myself.

Find some friends you can trust and ask if they will just hold onto the money for you.. Via paypal.

I'm sure there are some people here with super solid reps that could do that in earnest.

Maybe you can open an escrow to yourself? Lol.

can you travel to a foreign country to get the money from there ?

Sorry about your situation. Maybe you can talk to some local webmasters and business people.
Maybe if you can find a vendor on some site like mercadolibre.com.ar that accepts paypal, you buy something from them and strike up an e-mail conversation with them.

Very easy. Take http://www.buquebus.com.uy/ over to Montevideo and open US$ bank account. You can also use your Paxum card in Montevideo to withdraw US$, but I think the daily limit is 200 US$ per ATM. Or open bank account in US or anywhere else. Alternatively, ask foreign friends to bring you US$ when they travel to ARG.

that must be foreign people..and how will they send me the money later? paypal again? it is better for me to have it in my own paypal in that case

I can.. but only few ammounts (uruguay let you get dollars in atm with paxum but like 200 or $300 per day, so I should stay there a few days to take some good money.. +hotel cost +transportation it is not very good option, but yes.


HATE mercadolibre.. anyway they dont accept paypal


I don't live in buenos aires, going to uruguay and come back it cost me a lot if i want to do it in one day (by plane) or have to stay a night spending in a hotel, and i cant take so much from atms per day as you said.


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Thank you all for your ideas, but most of them I;ve already got it in my mind.. what i was asking if anyone knew any online trustable thing to do, but I think there is nothing there.

thanks again!

Interesting thread, wish I could help.

Most banks have branches worldwide - can't you open a USD account there with someone like HSBC?

In the case of Paypal -> Transfer it to payoneer... Try to find an ATM that gives you Dollars (probably in another country) and then get the dollars out of ATM.

thanks for stoping by :upsidedow

no.. it is forbid to open an account in another currency than pesos argentinos

yes, but the cost of travel to uruguay (wich is the only near country wich gives dollars in the atm is really expensive for me, i live in 1.000 km from the border, and you can only get $200 per day in those atm, so it is not a good option. anyway I know about that option, what I'm asking was for an online alternative just in case there is something out there I'm missing, but I see there is none.

Thank you all for your concern! :thumbsup

$200 per day or per transaction? I just do several transactions...

Why don't you open a foreign bank account? Ie. get a bank account in the Cayman Islands or some other place. Then move the money from paxum/paypal to the foreign bank.

Try kitco.com and buy gold or silver in their pool accounts.

I'd tell ya to invest in some of my 500+ aged .com domain names for sale or partner up on a site with ya but then that would lead to more income coming in so same problem eventually.

Go to Uruguay and withdrawal from there. ;)

that is the most interesting idea.. did you or anyone invest in that?

I would love to read some experiences with it!

You could also get a forex account. Many can be funded with paypal and you can add your paxum card to your paypal account as a payment device.

Then you can buy USD in the exchange. You have no fear of it going down because even if it did, you'd still lose the money anyway. Then you can withdrawal with a wire transfer.

go to uruguay/ fly to ecuador ;-))) and withdraw your dollars from there...

i doubt that there is 300 $ paxum limit of withdrawal...and even if it is - you can always raise it...

buena suerte mi amigo....

you can try to invest it like you say, or you can withdraw all in uruguay and keep greens... which is actually not so bad option with USD/ARS raising all the time on blue market, right ?

does the raising value of dollars keep up with inflation in Argentina or inflation is bigger ?

edit: with 200 $ limit in uruguay atm, just go to different ATMs......

Uruguay, Ecuador or Peru. ATM daily withdrawal limit is $500/day in Peru with Interbank.
But since you only want to "stock" the money somewhere safe, you don't have to withdraw any money. Just let it sit, maybe collect a little interest in the process.

I know about forex, but i don't like them, thanks anyway

the inflation goes a little bigger than the official dollar price, but the last days the price is raising like 3 cvs/day. I'm sure they want to do a slow devaluation

thanks again but I'm looking for an option where I don't have to take a plane just to get some dollars

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I liked the option of a pool at kitco.com

Anyone has invested in that? sounds interesting but I can't understand how it works when you want to sell and get the money.. if you need to find a buyer or how is it.

Anyone?

I will be in Argentina in a couple of months ;-) Let me know if you still need Dollares by that time and I will share with you. Paxum vs. cash :-P

that would be great. where will you be in argentina?

those things are called banks... why don't you just use them?
do you want to avoid getting taxed in your country?
how much of money are we talking about?

Seems its time to start an investment bank online that permits to pay with paxum, paypal, payoneer and bitcoins :)

I have a paypal account linked to an online bank account under Scottrade. I can transfer that to my brokerage account. But they don't allow foreign accounts.

I like your idea. But it would take some time to build some trust and alot of work. Loads of shady FOREX/Binary Options exchanges out there.

I remember a bitcoin stock exchange where you could buy stock in bitcoin companies that paid dividends back out. It was called GLBSE, but it shut down last year.