The fact that Bitcoin can’t be bought easily is one of the most significant challenges that the digital token is facing today. Even though PayPal has favored Bitcoin in recent years after announcing that it will be allowing its merchants to accept Bitcoin on its platform, it is still a huge task to find reliable places to buy the cryptocurrency using PayPal. It is a lot easier now that PayPal accept Bitcoin on its platform. Although PayPal has a challenge in this regard because of the countless chargeback cases caused by fraudulent individuals who purchase Bitcoin via PayPal from you only to claim that they received nothing. Moving forward, this content highlights the different safe ways to buy Bitcoin with PayPal. You will learn that you can convert PayPal to Bitcoin.
Buy Bitcoin With PayPal Using Coinbase
Coinbase is a reputable exchange for conducting cryptocurrency transactions. The platform makes digital currency exchange (Bitcoin) smoother via PayPal. Although Coinbase will allow you to purchase Bitcoins with less stress, unfortunately the platform will not let you buy the digital token directly with your PayPal account. However, if you own a PayPal debit Mastercard, you may be able to buy directly with your PayPal account. All you need to do is link your card to your Coinbase account under payment methods. Don’t forget that Coinbase charges at least 3.99 percent fee for each trade using this option. Remember that if you want to sell Bitcoin here, you can deposit the resulting amount of each transaction into your Paypal account.
Buy Bitcoin With PayPal Using Virwox
Using Virwox world exchange to buy Bitcoin with PayPal reduces the issue of chargebacks which is an problem that no exchange platform has been able to deal with. To use Virwox, you will need to purchase second life linden dollars (SLL) a digital currency used for Second Life which is currently one of the biggest virtual worlds. Virwox usually reduces the amount of funds you can deposit at a time through PayPal to cut down the issue of chargebacks. You can finish your transaction within 48 hours which is still quicker than wire transfers. However, the fact that the transaction fees are on the high side is a significant drawback. Virwox have been operational for far longer than its competitors and may be one of the most viable options for buying Bitcoin with PayPal.
Bitcoin (BTC) Price Today / USD
Start the process go to the platform, open an account and fill in your details. Activate your account by confirming your password then fund your account with PayPal. Purchase SLL then buy Bitcoin with SLL.
Buy Bitcoin With PayPal Using eToro
If you are searching for a reliable way to purchase Bitcoin with PayPal easily and in a way that allows you to benefit from Bitcoin’s price movements, then eToro may just work for you. eToro will let you purchase Bitcoin using PayPal, but you won’t be able to send or withdraw your crypto tokens. You will only have the option to sell the coins for conventional currencies like (USD, Pounds or Euros) which is a significant drawback. The fact that this option isn’t valid in the United States makes it a disadvantage. However, if you want to benefit from price swings or you don’t need actual Bitcoin’s, buying through eToro is likely the most ideal option for you. With eToro you don’t really need to own a Bitcoin wallet because you don’t receive the coins.
Buy Bitcoin With PayPal Using Local Bitcoins
This option is ideal for people who are looking for sellers who in turn are willing to sell their tokens using PayPal. Local Bitcoins is a marketplace that allows digital currency buyers and sellers to meet. With this option, you will have to deal with another party which establishes the advantage to credibility. In order to use this option, you have to find an individual who is willing to sell their Bitcoins to you via the PayPal platform. However, since the sellers decision to sell to you means they will be taking a significant risk, they will be charged a considerable premium which is a disadvantage although the higher charges indicate you will receive your tokens faster than any other option.
To start here, enter your search parameters (how much Bitcoin you want and the country you want to buy it from) on the platform. Choose your seller and enter the amount you want to purchase and click on the send trade icon to complete the transaction. It is a relatively straightforward process.
Buy Bitcoins With PayPal Using Paxful
This option has a major benefit which is having a broader range of sellers around the globe. However, it’s high exchange rates, and the fact that the chances of been ripped off or scammed are high are major setbacks for those who want to use this option. Paxful is actually a less known version of Local Bitcoins. The platform serves as a peer-to-peer forum or market that let’s you purchase Bitcoin with almost anything including Skype credits, Amazon gift cards and much more. Plus the process of purchasing the token via this platform with PayPal is relatively simple. All you need to do is create your account, pick a payment option and the sum of funds desired, before choosing your seller (either manually or automatically with the Paxful platform).
Once the trade has been initiated, you will receive a notification to join an online chat where you can communicate with your sellers and finalize the transaction. The seller’s tokens will sent via Escrow. Once you verify that you have sent payment the token will be released from your account. Don’t forget that failure to conclude the deal within the alloted time which is typically 30 minutes will result in auto cancelation of the entire process. So you need to be prudent to ensure that you meet up with the time requirements.
Buy Bitcoin With PayPal Via Wirex
This option requires only reasonable fees which is a huge advantage. But the only drawback is that the transaction takes up to ten days to complete. Wirex is a startup that supplies physical and virtual Bitcoin debit cards. And because this debit card is like any other regular debit card, it can be used with your PayPal account to purchase Bitcoins. This process may be time consuming because verifying your Wirex debit card with PayPal typically takes plenty of time. Withdrawing your funds may even take up to seven days at least depending on your location.
To begin here, you will need to order either a virtual or physical Wirex debit card. Link and verify the card with your PayPal account. Verifying the card allows you to deposit funds to your account. Then withdraw the funds from your PayPal to Wirex account. After this stage, you will be able to purchase the tokens with your Wirex debit card.