Paypal and the British Pound

[Nhadala]

This is just a prediction based on whats currently happening, ive talked to a few people and they seem to agree with me, so ill share this with you hoping that it helps you out.

But still, this is just a prediction, so take it with a grain of salt.

Anyway, you all know whats going on with the UK and the British Pound right?

The british pound is going down in value, but this wont last at all and the british pound will go back up again in value eventually.

The way to make money is simple, put money into your PayPal account, it can be any amount in your natural currency, whether its dollars or euro, then convert that money to British Pounds, then when the BP goes back up in value, you should convert your money back to the currency that you use, and tada, you made money!

And if the BP value doesnt go up in a few months then you wouldnt have lost anything.

The key to this is waiting until the value of the Pound drops to its lowest and converting your money back when the value is high again.

Lemme know if im being stupid here and ill just delete this thread, i just wanted to share my thoughts with everyone.

[Maelstrom]

Yeah, I'm pretty sure the BP will rebound faster than people think. Especially since real changes to trade and stuff won't happen immediately.

But yeah, this kind of speculation and investing is basically what the stock market is about. It definitely isn't a stupid topic. People found fortunes and business on this type of stuff. Or lose them.

[Strider]

I've thought about this before too. It always seemed to simple in my opinion. If there was such an easy way to make money, people would have discovered it.

I'm not sure how much they charge, but I'm pretty sure that PayPal charges fees for currency exchange.

Though I don't ever propose using wikihow as your primary source of information for something risky, here's a page explaining some of the basics.

http://www.wikihow.com/Buy-and-Sell-Currency

[Nhadala]

I've thought about this before too. It always seemed to simple in my opinion. If there was such an easy way to make money, people would have discovered it.

I'm not sure how much they charge, but I'm pretty sure that PayPal charges fees for currency exchange.

Though I don't ever propose using wikihow as your primary source of information for something risky, here's a page explaining some of the basics.

http://www.wikihow.com/Buy-and-Sell-Currency

Paypal doesnt charge anything, i tried it myself with a couple of euros i had left in my PayPal account and they didnt charge me anything.

[dead account]

To be honest, this doesn't seem like it'd be worth the effort unless you put a lot of money onto your paypal.

Even if you put in 100 euro and then the value of the British Pound went back to what it was before the massive drop in value, you'd be looking at just over a 6 euro profit for the trouble.