How to buy Bitcoins with PayPal
If you’re looking at buying Bitcoins, you may want to do so using PayPal. In this article, you will find out all possible methods that you can use to buy Bitcoins and other cryptocurrencies with PayPal.
Bear in mind that Bitcoins transactions are not reversible, and there are no straight up ways to buy bitCoins using PayPal. Buyers around the world make use of certain indirect ways to buy Bitcoins with PayPal. And We will show you exactly how you can do it.
PayPal is a simple and safe way to pay online. PayPal accounts are free to open and can be used by anyone who pays online.
Here are the best ways you can buy Bitcoins with PayPal
1. Through xCoins
Buying Bitcoins using xCoins has been around for quite some time. It is a method that has been proven to be efficient, although the transaction fees seem to be on the high side.
Self described as a crypto lending service, xCoins loans you Bitcoins instead of selling, and here’s how xCoins work:
The buyer goes to the site and says he/she wants to “loan” Bitcoins. A short process of identification verification follows, before the buyer will be asked to deposit the USD equivalent of how much he/she wants to borrow, plus credit card / Paypal processing fees and a fixed amount that acts as the interest rate on the loan.
How to Use xCoins
- Sign up to the site
- Choose the amount you want to buy
- Accept the loan agreement
- Verify your identity
- Make payment with the available options which includes PayPal
- That’s all
2. Through eToro
Founded in Israel more than a decade ago, eToro is a social trading and multi asset brokerage company that focuses on providing copy trading services that has registered offices in Cyprus, Israel and the United Kingdom. The trading company accepts a variety of trading methods, and the transaction fees are relatively low.
Buying Bitcoins with PayPal through eToro would have been the best and most preferred method except that the platform has a few limitations such as not being available worldwide and profits can only be withdrawn in fiat currency (i.e. USD, EUR, etc.). This platform allows you to buy Bitcoins using PayPal, but you cannot withdraw or transfer your Bitcoins to other people until you change them back to fiat currency such as dollars, euros, etc.
When using eToro to buy Bitcoins, you do not need a special Bitcoins wallet because eToro doesn’t supply you with actual coins. The platform simply allows you to speculate on the price of Bitcoins as it rises or drops, rather than provides you with actual coins.
Check out eToro at www.etoro.com
3. Through Paxful
Paxful is a Peer to Peer Bitcoin marketplace connecting buyers with sellers around the world. It allows you to buy Bitcoins with almost anything – Amazon Gift Cards, Skype Credits, and many other options which unsurprisingly includes PayPal. Simply select your preferred payment method and start buying immediately.
How to use Paxful
- Create an account here
- Choose a payment method for buying
- Choose the desired amount
- Choose your seller manually or allow paxful decide who is the best seller for you
- Once the trade initiates, you will be sent to an online chat with the seller, where you can finalize the deal.
- The seller’s bitcoins will be sent into escrow, and once you acknowledge that you have sent your payment, the Bitcoins will be released into your account
Note: If you don’t finalize the deal within a certain timeframe (usually 30 minutes), the deal will be automatically canceled.
Trading on paxful is a really good method being that you get the chance of trading with a wide variety of traders from many parts of the world. The only problem with paxful is that there’s a high chance of you being scammed, so you have to be very careful.
We have just listed some of the most trusted and reliable platforms through which crypto traders around the world make use of when buying Bitcoins with PayPal. There’s no plain and straight process that allows you to buy Bitcoins using PayPal. If you want to buy Bitcoins, the methods listed in this article will surely work for you. Some of these methods are available in your country. Check them out and pick the one that is more suitable for you.
It is important to note that prices of cryptocurrencies can widely fluctuate and cryptos are not appropriate for all investors.
Cryptocurrency trading is not supervised by any EU regulatory framework. Your capital is at risk.
You can also check out the following Bitcoin and PayPal related topics we have written for you:
- Payoneer: Best alternative to PayPal
- 10 interesting facts about Bitcoins that you must know
- Bitcoin 101: A simple guide to access Bitcoin
- You can now open a Nigerian PayPal account with these easy steps