In recent years, the purchase of bitcoin has become increasingly simple, with a plethora of payment options appearing here and there. Many people want to invest in cryptocurrency without going through the daunting process of setting up accounts and auditing processes.
Occasional buyers would simply like to buy bitcoins using payment methods with which they are comfortable, like Paypal .
In this article, we will introduce:
- The different options to buy Bitcoin with Paypal.
How to buy bitcoins with Paypal?
It is a platform where you can buy Bitcoin using Paypal. However, one must be careful when selecting the seller. This is still one of the best known ways to buy Bitcoins using your Paypal account.
Localbitcoins is a transaction platform for bitcoin that is well known and used around the world. It provides a virtual framework through which acquirers can connect with vendors and achieve conversions across multiple platforms, including Paypal.
If you decide to use Localbitcoins, you will need to identify and contact a vendor who accepts Paypal as a payment method for bitcoins. Localbitcoins users are responsible for verifying the sellers with whom they trade. In general, the platform is quite safe and has a good reputation.
This is another popular way for users to buy Bitcoins using Paypal. It is similar to Localbitcoins but with a cleaner user interface. Paxful is an SEO and escrow service for sellers.
You need a verified Paypal account. Paypal only assigns verified accounts if you link your bank, debit card and payment ID. Sellers will also ask for a piece of identification before accepting your Paypal account.
Paxful is a platform that allows users to create their own account, search for sellers and convert funds for bitcoins with their Paypal account. The plus with Paxful is that it uses the escrow system as an additional guarantee to customers.
The platform will allow you to buy Bitcoins with Paypal, but you will not be able to withdraw them or send them to other people – you will be able to sell bitcoin only for fiats (dollars, euros, etc.). This method is only valid if you live outside the United States. So, if you only want to take advantage of price fluctuations and you do not need Bitcoins, this is probably the easiest and cheapest way to do it.
If you use eToro, you do not need a Bitcoin wallet because the site does not provide you with the coins. In addition, virtual currencies can fluctuate considerably and are not appropriate for all investors. Virtual currency exchanges are not subject to any EU regulatory framework.
Wirexapp is one of the best ways for anyone looking to buy Bitcoins with Paypal on a regular basis. This method takes 1-2 days the first time, then everything is done instantly. Just follow the steps mentioned in this tutorial and you can then use your Paypal funds to buy Bitcoins.
As it is currently very difficult to get around the problems of buying Bitcoins with Paypal, we will have to go through VirWox – The Virtual World Exchange.
We will use a virtual currency called SLL (Second Life Linden Dollars), This currency is used for one of the most used 3D metaverse today: Second Life.
After buying this currency with Paypal; it is then exchanged for Bitcoins.
VirWox is able to work in this way since it does not sell you Bitcoins directly with Paypal but rather sells SLLs with Paypal because VirWox can prove that the buyer has received his currency, unlike Bitcoin which, by nature, is anonymous.
The xCoins platform is also a good solution for Bitcoins purchases with Paypal.
The major disadvantage is that the costs are significantly higher than average. The platform uses an innovative bitcoin loan feature on a peer-to-peer basis.
This allows instant transactions and makes xCoins the fastest site of all to buy with Paypal. In addition, according to users, the support is very responsive to answer questions and solve problems.
Paymium is a start-up based in Paris, which only works with Bitcoin. It is currently the first site in France that allows the purchase and sale of Bitcoins.
No Paypal on this platform, but purchases can be made with a simple credit card, or a SEPA transfer. Based in Paris, Paymium is the main platform for buying and exchanging French Bitcoins.
Bitcoin is the only cryptocurrency available and you can buy it through a bank transfer or directly via your credit card.
Since October 2017, a verification of your identity, which takes one to two days, is mandatory for the purchase of Bitcoins.
Our opinion on the purchase of Bitcoin with Paypal:
As we explained in this article, there are several ways to buy Bitcoins using Paypal. Nevertheless, this method of purchase does not appear as the most practical and fastest because of the different verification procedures, and the sites that allow to buy bitcoin with Paypal without verification are few.