Do you want to buy Bitcoin with Paypal? Well, we all can agree on this fact that purchasing bitcoins with the help of Paypal is very challenging and confusing. There are many updates about how PayPal has been in favor of Bitcoin in the past few years. But unfortunately, it is still a problem for people to find a legit method of buying bitcoin. However, the experts at BitcoinLifestyle.com have been launching new methods to make the purchase as easy as possible.
Before we begin by explaining the different methods, let us keep a few things in mind. The first is that there is no direct or simple way to purchase bitcoin with PayPal’s help. It is because these transactions cannot be reversed. But a few indirect ways can undoubtedly solve the purpose. So, now let us begin with the different methods that will surely help you.
1. Purchase Bitcoin with PayPal using the LocalBitcoins
LocalBitcoins is a website on the market that helps in connecting the sellers and buyers directly. If you are using LocalBitcoins, you will be asked to deal with a real individual. This means that the seller’s reputation is another thing you need to look out for when using it.
As far as the fee is concerned, sellers generally charge a premium as they take a large risk of giving back a refund to the buyer. The positive side is that you can get the cryptocurrencies faster. Let us have a look at how to use LocalBitcoins.
- Open the website of LocalBitcoins and then click on the ‘Sign up Free’ button. Then complete the registration process by entering the correct information. It is mandatory to enter the accurate details so that you can find a seller easily.
- After your account is created, click on ‘Buy Bitcoins’, which is at the top of the web page.
- Then enter the local currency value of the Bitcoins that you are interested in buying and also choose the country that you wish to purchase from. Next, click on all the online offers shown in the drop-down box and press the ‘Search’ button.
- Now you will be seeing a list of sellers that will let you buy their Bitcoin using PayPal.
- Once you find the best seller, then you will be moving on to the trade screen. Here you will see the complete information about the location, trade limit, and payment window.
2. Purchase Bitcoin with PayPal using eToro
With PayPal, the simplest method of buying Bitcoin will be through eToro, but only for a limited purpose. It is because the platform though, allows you to purchase bitcoins with PayPal, but you won’t be able to withdraw or transfer them to other people. In simple terms, eToro only allows you to gamble on bitcoin’s price rather than buying the actual coin.
If you’re just trying to gain profits from the price hikes and don’t need the actual bitcoins, this is the fastest and cheapest way to make that possible. Please keep in mind that you don’t need a Bitcoin wallet if you are using eToro, since; they do not provide you with the actual coins.
3. Purchase Bitcoin with PayPal using Paxful
Paxful can be called as a smaller and lesser-known version of the LocalBitcoins. It is a P2P market that lets the user purchase the Bitcoin with almost anything, be it PayPal, Amazon gift vouchers or cards, or Skype credits. It is very easy to buy Bitcoins using Paxful.
- Users need to create a new account
- Then select a payment method and the price at which you wish to buy the Bitcoin.
- Choose the seller, and this can be done by you both manually and automatically with the help of Paxful.
After the initiation of trade, the user will be sent a tab on which he/she can chat with the seller. Here you can finalize the deal with them. The seller will then send the bitcoin to escrow. These will be released to your account after you mark that the user has released the payment. Remember that if you do not finalize the deal in 30 minutes, it will get canceled
These have been the few of the most preferred methods to buy the Bitcoins with PayPal at an affordable rate. You can undoubtedly use them but be ready to pay some heavy fee charges. Also, there are many other ways with which one can purchase Bitcoin instantly using Paypal which will be discussing later on!!!