Cryptocurrency is becoming a vital part of global marketing. Bitcoin is first decentralized, digital cryptocurrency created in 2009, used for online transactions without using the physical money, which engraved its own place in the market. While PayPal is one of the most reliable and internationally recognized services for making fiat transactions easy and fast. Buying and selling Bitcoin is becoming a new industry to cope up the ever-growing demand for digital currency. If Bitcoin is a convenient system for online purchases just like cash purchases in the physical world, then PayPal is a largest transitional payment company between the Internet and a Physical bank.
There are many expedient payment methods like PayPal, Credit Card, Debit Card, etc to purchase any coins as Bitcoin Exchanges. One of the most popular ways to acquiring Bitcoins is using PayPal which is very practical and a great solution for many users. So, if you are looking for a way to buy Bitcoin with PayPal, it is not quite an easy job.
As there is no direct method to PayPal USD → Bitcoin (BTC) exchange. So, we decided to share with you the top safest and economical methods for converting your PayPal money into Bitcoin. This article will provide you the safest platforms which are used by thousands of people universally. Pleased to Know!
Effective Purchasing Bitcoins with PayPal
Many people previously revealed that using PayPal to buy Bitcoin is a very problematic procedure because of fraudulent traders. However, it is now possible to effectively purchasing Bitcoins using PayPal through these platforms safely. Although these platforms are safe, it is advisable after converting your deposit to Bitcoins, transfer them to your wallet immediately. That way, only you will have control over your assets. In addition, you should check commission fees and the purchase price of Bitcoins. As the exchange rate was about $15 in early 2009 but now you may have to pay a minimum $ 750 for Bitcoin. There are basically two ways to buy Bitcoin with PayPal; either as a CFD or by directly receiving the Bitcoin. Below we will discuss these two options using different secure platforms. Now, Bitcoins and many other cryptocurrencies have more than 400 exchanging platforms. But there are still limited secure and available sites for using PayPal to buy bitcoins. Mostly, it is a transitional step used to overcome the problem of unable to buy Bitcoin with PayPal directly.
1. Buy Bitcoins with PayPal through LocalBitcoins
LocalBitcoins is a digital currency purchase/selling website, using p2p (person to person) transactions internationally. It is a place where the seller directly interacts with the buyer makes it more trustworthy to buy Bitcoins. This site collects no fee for buying and selling Bitcoins except the 1% trading fee if you use their advertisements. LocalBitcoins provide a person who is willing to sell you Bitcoins with PayPal but can ask you money more than the actual price. Mostly, it can charge you more than VirWoX but usually provide you Bitcoins faster than any other method. Its term of sales depends on the individual users like they can ask you about a verified PayPal account and your personal details should match to your LocalBitcoins details. Method: LocalBitcoins is a secure site to get Bitcoins by PayPal using the following steps:
- Firstly, you should make an account on the site www.localbitcoins.com.
- Contact a seller who meets your requirements for exchange of cryptocurrencies for money. It is advisable to go through the seller’s reviews.
- You can negotiate details related to Bitcoins Exchange and then deposits the number of Bitcoins you want to sell on the exchange platform.
- Then, as soon as payment is verified, that amount is transferred to your wallet. You can send money without any commission through the “Send money to friends and family” mode from PayPal. Otherwise, you need to pay almost 5% commission to get Bitcoins.
Pros: PayPal also available, Popular in most countries
Cons: High fees, the chance of scamming, Risks associated with anonymous transactions.
2. Buy Bitcoins with PayPal through Paxful
Paxful is also a p2p marketplace like LocalBitcoins. Bitcoins can be exchanged here using almost all payment options internationally available. Like LocalBitcoins, here are also same worries about the reliable user and lowest exchange rates. It also helps you to suggest the best sellers as well you can also find a seller with a solid history. After validation of trade, you can finalize the deal using online chat option. After agreement Bitcoins of the seller will be sent into Escrow and after approval of the transfer of money into their PayPal email, Bitcoins will be released to your account. This makes your purchase totally safe. Afterward, you can transfer in any other Bitcoin wallet. Method: Use following simple steps to get Bitcoins using Paxful:
- Create an account on the website www.paxful.com
- Select payment method and desired quantity
- Choose your seller manually or through Paxful
- Transfer money to PayPal email after approval of the transfer of Bitcoins in escrow.
- Bitcoins will be released into your account.
Pros: found internationally, Medium Fee
Cons: High exchange rate, a chance of cheating
3. Buy Bitcoins with PayPal through VirWoX
VirWoX__ The Virtual World Exchange is considered a reliable source and fastest way of buying Bitcoins with PayPal. It uses a virtual currency called SLL (Second Life Linden Dollars). It is an acceptable currency to buy with PayPal, which can be used to further trade into Bitcoins. It charges a commission fee for using its services, but provide high safety for your transactions. As the VirWoX platform is available worldwide and quite old as well safe for buying Bitcoins with PayPal. Method: Use the following steps to get Bitcoins using PayPal
- Visit the website www.Virwox.com
- Register your account on the website
- Transfer your money (fiat currency) to your VirWox account using PayPal
- Buy Second Life Linden (SLL) for American dollar or Euro
- Buy bitcoins with your SLL
- Withdraw your Bitcoin to your wallet
Pros: A reliable method that has been around for more than ten years
Cons: High fees (due to multiple conversions)
4. Buy Bitcoin with PayPal through Wirex
Wirex is the former e-coin company that supplies virtual and physical Bitcoin debit cards. These cards can be easily buy using PayPal balance. You can simply use them wherever you want from buying Bitcoins to other online and physical shopping etc. You can activate the virtual Bitcoins debit card with a little amount added to your account. After activation, you can link it to PayPal account and transfer the funds. Method: Use the following steps to get Bitcoins using the Wirex debit card:
- Register on the website www.wirexapp.com
- Request for Wirex debit card
- Add and verify Wirex card to register a PayPal account
- Transfer the money to your linked Wirex card account
- Buy Bitcoins with your funded Wirex account
- This process can take place in 10 days mostly.
Pros: Medium fees
Cons: Requires a longer period to complete (around 10 days) than others, Limited to Europe
5. Buy Bitcoin with PayPal through eToro
eToro is another transitional and easiest way to buy Bitcoins using PayPal. It also has a simple process similar to CFD platforms without transaction fees. The FCA and the CySEC planned eToro for making sure the user and clients right. The cryptocurrency world is unregulated and therefore buying Bitcoin directly from other providers poses risks to the user. You can also get Bitcoins using a PayPal account by Registering on this exchange service website www.etoro.com.
6. Buy Bitcoins with PayPal through Coinbase
Coinbase is a platform and wallet of digital currency, was formed in 2012. It is a platform where traders and customers can execute with new digital currencies like bitcoin, litecoin, and ethereum. Method: Use the following steps to get Bitcoins using the Coinbase debit card:
- Register on www.coinbase.com to get a secure place to store bitcoins
- After Sign up, verify your ID to enable PayPal as a payment method
- Then, Authorize Coinbase to use your PayPal account by signing in using your PayPal login information
- Now, you can buy bitcoins according to the exchange rate at that time
Pros: Easy to handle, Online wallet available
Cons: Account verification required more exertion, still not present universally
7. Use PayPal to buy Bitcoin in Cryptoexchang.com
Cryptoexchang.com is also a reliable and popular source to exchange cryptocurrency into PayPal amount instantly which is operating from the USA. It is a quick and largest network system without any complications available universally. You can easily trade on their platform and withdraws fund into your Bitcoin wallet. You can register on this website to get this opportunity https://www.cryptoexchang.com.
Pros: Easy to handle, Unlimited withdrawal
Cons: Chance of scamming due to no verification
The Final Word
In this article, we tried to add all convenient exchanges, services, and platforms to buy Bitcoins with PayPal, now it’s your chance to select the most appropriate for you. It is integrally risky to buy Bitcoins using PayPal because PayPal doesn’t allow these kinds of transactions due to the legal constraints on PayPal and the risk of money laundering.