There are many ways to buy Bitcoin. And it is also widely available for purchase.
For example, there are now many websites that lets you purchase Bitcoin using your credit card or debit card.
Aside from this, you would also want to consider using PayPal, which is one of the world’s biggest and most popular online payment processors.
It first rose to fame after working with eBay. After that, it has partnered with countless merchants online as a premier payment option.
Nowadays, if you shop online, you will almost always find PayPal as a payment option in almost every online shop that you will visit.
There are many good reasons why PayPal is very popular.
In the Bitcoin community, this option is also a common favorite.
Benefits of Using PayPal
Benefit # 1 – Security
When you create an account with PayPal, you will enter the details of the bank accounts and credit cards that you want to use for purchasing online. But you will transact through PayPal. You will just link your accounts to your PayPal account to transfer funds. The great thing about using this system is that it keeps your credit card information and other sensitive details secure. This means that if you buy Bitcoin using this platform, you will not have to worry about your credit card getting hacked or an online thief stealing your personal information.
Benefit # 2 – Flexibility
PayPal is a highly flexible payment system that you’d be glad to use for buying Bitcoin. You’ll be happy to know that you can use this payment platform with most of the exchanges that offer Bitcoin for sale. Even if you’re buying from an individual, many people now have PayPal accounts and will probably won’t mind you sending them the money through this method.
Benefit # 3 – Instant payment
Another great thing about PayPal is that it processes payments instantly. Once you send a payment to a Bitcoin exchange or to an individual selling Bitcoin, they get your payment right away. This is important since Bitcoin value fluctuates all the time. You want to make use of a payment system that does not take a long time to process so you can get the actual value that you purchased.
Benefit # 4 – Mobile ready
Yes, you can now download and activate PayPal app in your mobile device. This means that you can now buy Bitcoin with PayPal wherever you are as long as you have your mobile device with you. You simply have to download the PayPal app from the Google Play Store, and you can set up your account. PayPal will always ask for confirmation of your transactions so each time that you will buy Bitcoins, you will need to enter your PIN. This gives you peace of mind knowing that your PayPal funds are safe.
Benefit # 5 – Cost effective
Setting up an account with PayPal is free of charge. You will not have to pay for any annual membership fee, service charges and so on. Credit cards charge up to 5 percent per every transaction for buying Bitcoin. This means that if you use PayPal, you will be able to make significant savings.
These are just few of the many advantages that you can get from PayPal if you choose to use it to buy your Bitcoin. Now the next question is, where can you buy Bitcoin using this payment platform?
Websites Where You Can Bitcoin
To answer your question, here’s a list of the websites that lets you buy Bitcoin using PayPal.
Take note that these are just few of the many websites that sell Bitcoin using this and other payment options. Be wary of those that are not that well known as these are possibly ran by scammers.
Here are the reputable options that you should consider:
Option # 1 – Localbitcoins
Localbitcoins is a Bitcoin company located in Helsinski, Finland. It was established to facilitate the trading of currencies for Bitcoins.
It is not a centralized Bitcoin trading site, but more of a user-centric marketplace. Here, users can post ads on the site where they can sell their Bitcoins or look for Bitcoins to buy. In other words, you’ll be doing the trading directly with people.
It is known to support many types of payment options including PayPal.
It also offers transaction service and escrow so that buyers are protected from scammers.
Buying Bitcoin using this website is an easy process. You start by creating a user account. You do this by filling out the online registration form. Next, you need to link your account to your Bitcoin digital wallet. You also have to put in your PayPal address. Once you’ve found the right ad, you can contact the seller and get the transaction started.
When choosing a seller to buy Bitcoins from, you need to conduct a quick investigation first.
Click on the trader name and check not only the trade volume but also the feedback.
This will give you a clear picture of the seller’s legitimacy and credibility. Of course, you do not want to deal with anyone who’s been plagued with negative reviews. It’s important to practice the safety precautions when transacting with sellers using this platform.
Option # 2 – WirexApp
If you want to buy Bitcoins regularly using PayPal, this is one of the best options for you.
When you use this app for the first time, it will take you one to two days to get the transaction closed. But after the first time, the next transactions are instant.
Take note, however, that PayPal can only be used in the following countries:
- San Marino
- Saudi Arabia
- United Arab Emirates
To get started using this app, you will need to create your account by visiting its official website and completing the online registration form.
You will then need to verify your account. After this, you will get a free virtual Visa card.
It’s also possible to get a physical card but this one is the faster option.
Then, you will need to add at least $3 to your virtual card from Wirexapp.
You also have to add this card to your PayPal account.
After this, go to your PayPal account and click “money”.
Click the “add a card” button.
Click the “add a new card” link.
Enter the details of the virtual debit card that you got from the app.
Verify this new card by clicking “confirm my card”.
PayPal will then start transactions that will be used to confirm the card. This is where the $3 will go to. Don’t worry, the $3 will later on be sent back to you.
This is standard protocol for verifying the account.
You will then have to enter the PayPal code.
After this, log in to your Wirexapp account.
Go to “transaction”. Here, you will find the confirmation code that you need to verify the card.
Confirm the code.
That’s it. You’re now set to buy Bitcoins using your PayPal funds.
You simply have to transfer the money from PayPal to the Wirexapp debit card and use the card to buy the Bitcoins.
It usually takes a few days for the funds to be transferred to your card.
The great thing about this option is that this costs you less for every transaction. Plus, you get to have the virtual card for free.
Option # 3 – Paxful
Paxful refers to a peer-to-peer marketplace that connects Bitcoin buyers with Bitcoin sellers. You simply have to create an account with this website and choose a preferred payment method.
It offers various options for payment—Payoneer, gift cards, Skrill, bank deposit, and so on.
Of course, the reason it’s included in this list is that it also accepts PayPal payments.
It works quite similarly with Localbitcoins as it connects buyers and sellers.
To get started with using this website for buying Bitcoins with PayPal, you need to have a PayPal account that is US verified.
To verify your account, you need to link it to your bank or debit card, and upload an ID.
You will also have to provide your ID to the seller before you can buy Bitcoin with PayPal.
This is also one of the easiest and most convenient options for using PayPal for your Bitcoin purchases.
Option # 4 – UPCoin
UPCoin is another place where you can purchase your Bitcoin using PayPal.
It is the newest option in the list that was launched only about a year ago.
One of the best things that you’ll love about this trading platform is that it gives bonuses of $500 each to the first 10,000 users.
The number of users has not yet reached this number so it’d definitely be a good idea to become one of them so you can get your hands on the bonus.
Sign up with this site by filling out the online registration form and linking your PayPal account with it.
Take note that aside from Bitcoin, this place also sells other types of cryptocurrencies, and also offers other payment options other than PayPal.
Tips for Buying Bitcoins Safely
When buying Bitcoins anywhere or from anyone, make sure that you conduct a quick investigation of the site’s reputation or the individual’s background.
Never go for a Bitcoin exchange that is ridden with negative reviews and complaints, or one that does not provide protection to its users. If you are going to make use of a Bitcoin marketplace, see to it that you check the profile of the seller first before sending your money.
If something does not add up or feel right, go ahead and leave. Look for another place where you can buy your Bitcoins safely.
Using PayPal is always a good idea if you’re concerned about safety and convenience. This will not rise to become one of the world’s most popular payment gateways if users are not satisfied with the service that it brings.