A few years back buying bitcoin was indeed an overwhelming process, but currently, the pendulum seems to have shifted to the more relaxed side of purchasing bitcoin. The reason is quite apparent, for the past few years there have been a growing number of exchanges, payment methods on the upward trend, and the buying process is simplified.
For years, PayPal has remained to be a top online payment processor across the globe. Therefore, it’s a no brainer that most folks are looking for means to buy crypto, especially bitcoin with PayPal.
PayPal is Providing Answers
Here’s the thing…
Buying bitcoin using a secure payment method such as PayPal is possible, but we have to agree on one thing that the process can be somewhat challenging to do. But never mind that difficult part because after all, it’s possible, right?
Why is it difficult to find a credible place to buy bitcoin with PayPal?
That’s the question that answers why PayPal doesn’t allow it easily. For instance, there have been several chargeback cases whereby scammers purchase bitcoin with PayPal and later claim not to have received anything. In the end, they get their bitcoins along with their money.
However, you don’t have to worry as here are some of the best ways you can buy bitcoin with PayPal without any issues.
Five Options for Buying Bitcoin with PayPal
In January this year, Virwox shut down its PayPal deposits, and since then it has been challenging to obtain bitcoins via a PayPal account.
One thing for sure is that there’s no direct purchase of bitcoins with PayPal at the moment, you can’t reverse bitcoin. Perhaps, there are other options for buying bitcoin with PayPal which include:
- p2p marketplaces LocalBitcoins and Paxful
Virwox.com may have shut down its PayPal deposits, but it by far happened to be the best way to buy bitcoin with PayPal. It offers a way past the chargebacks by using a virtual currency SSL (Second Life Linden Dollars) as mediation means.
All that is required is to deposit using PayPal to Virwox exchange and then purchase SSL with the EUR or USD deposited. Then you can buy bitcoins with the SSL after which you can withdraw the bitcoins to an own bitcoin wallet. The process may look complicated, but it works reliably. The only drawback is the associated fees at roughly 10%.
eToro.com is a non-US exchange with relatively low fees and accepts several payment methods. Here you’re allowed to buy crypto with PayPal (bitcoin in this case), but not able to withdraw or send them to other individuals. It means you can only change them to fiat money; hence that’s going to be just investing in bitcoin and not buying the actual coin.
P2p marketplaces LocalBitcoins and Paxful
LocalBitcoins.com was created for real people to meet and exchange bitcoin, and for that reason, it has made the process secure and safe. Buy bitcoin on LocalBitcoin only requires finding and connecting with an individual willing to accept payment with PayPal for bitcoins (there are many).
On the other hand, Paxful.com allows the users to create an account (of course, you create an account on LocalBitcoins mentioned above for bitcoin purchase using PayPal), find sellers as well as an exchange in PayPal for bitcoins. It uses escrow service that provides additional security for the buyers and sellers alike.
Like any debit card, Wirex can be used with a PayPal account. It has medium fees with taking an extended period to complete as a drawback. There’s no assurance that the transaction can be successful as they are not partners (Wirex and PayPal) hence a method that should come last on your list.
You only order a virtual or physical card from Wirex and connect it to the PayPal account and verify. Deposit to PayPal and withdraw them to your Wirex account after which you’ll be able to buy bitcoin with the funded Wirex debit card.
There’s no denying that buying bitcoin with PayPal is safe as well as secure, but the fees paid are quite large. However, if PayPal is your preferred payment method, then you now know where to go and buy bitcoin using PayPal instantly (almost).
Image courtesy of Pixabay.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.