How to Buy Bitcoin with PayPal in 2021: Detailed Instruction from Safetrading
When Bitcoin emerged in 2009, it was almost impossible to buy it because there were almost no cryptocurrency exchanges, especially there were no the best ones.
A lot of users who start trading or HODLing may ask:
How to buy Bitcoin with PayPal?
Today there are so many services where users can buy crypto in a best way:
PayPal Bitcoin wallets,
crypto exchanges, different online exchanging services, and buying Bitcoin with PayPal is possible as well.
And, oddly enough, many people prefer to buy bitcoin through PayPal or a bank card.
It would seem that this is really incomprehensible, because the best advantage of cryptocurrency is its anonymity and independence from the government.
After all, there are special ATMs that will help you buy cryptocurrency for cash, why look for other ways? Stepping back a little from the topic, I would like to say that these ATMs are not the best and simple. First, they charge a huge commission for their services, up to 10% of the amount you give to buy Bitcoin. Secondly, not every city has them, so people from many countries simply cannot use them.
Here are some of the best reasons why people tend to buy Bitcoin with PayPal and why PayPal itself is actively gaining momentum in terms of working with cryptocurrency. Firstly, it is safe, and secondly, every person can create an account on their phone.
And today we are going to talk about the best ways on how to buy Bitcoin with PayPal and show all the advantages and disadvantages of every method.
Let’s go!
Why Is PayPal Not A Very Popular Method of Buying Crypto
Many people think that they can buy Bitcoin using cards or ATMs only, so the first question they ask when you tell them there are other options is:
How to buy Bitcoin with PayPal?
The first thing you need to remember that not every best service accepts payment through
PayPal. Even almost all the exchanges that allow their users to deposit fiat currencies don’t use it.
Why?
The best reason is the repayment policy. The thing is that when people pay with the help of PayPal they are allowed to pay for “Goods and Services”
To describe it shorter and easily, if they are unsatisfied with the services, they can ask for the money back.
As you know, cryptocurrency can’t be physically owned. That is why if the buyer wants to get the money back, the seller needs to prove that he delivered the service. And how are you able to prove that you have delivered crypto to him?
That is why most of the exchanges can not offer the feature to buy Bitcoin with PayPal. Nevertheless, there are some services that can help you know how to buy Bitcoin with PayPal.
Let’s check them!
How to Buy Bitcoin With PayPal Directly
PayPal will add support for cryptocurrencies, which will allow users of the payment system to buy and sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC), as well as store them in the built-in wallet.
At the first stage, only US users will be able to make transactions with cryptocurrency in the PayPal system. In the first half of 2021, the company plans to enter the international market by adding the ability to work with digital currencies in the Venmo payment system.
LocalBitcoins - Buy Bitcoin With PayPal
This is one of the best exchanging services that works with more than 200 countries. This website offers its users the possibility to post advertising where they mention the exchange rate and ways of payment.
That is why here you can find plenty of different payment services - credit cards, SWIFT, Moneygram, and you can buy Bitcoin with PayPal as well!
As you see here everything is very easy - it is the same as how to buy Bitcoin with PayPal from your friend. You can choose the currency of exchange, your country - Germany, Nigeria, whatever, and the payment method(s) you want to use and the website will show you all the possible options.
If you want to use PayPal to buy Bitcoin, you can view the offers from all the countries.
The next questions - is the seller or buyer you are going to work with legit and reliable?
When you choose the person to work with and mention the amount of BTC you want to buy Bitcoin with PayPal, and another party accepts your offer, the assets are blocked by the system to protect both sides from being scammed!
As soon as the PayPal payment is received, you need to inform the seller. The seller will tell the
LocalBitcoins team that he received your payment and this team will transfer the specified amount.
When we discussed different payment methods that allow you to buy Bitcoin online, we talked about fees. That is why, if you are going to use PayPal, remember that its fees are quite high as well.
One more moment - anonymity. With PayPal, you can’t expect it because almost all the sellers or buyers will ask you to verify the phone number, email, etc.
eToro - Buy Bitcoin With PayPal
eToro is a well-known best platform where users can trade different financial assets, and Bitcoin is one of them.
eToro works for users for more than 13 years and is respected by a lot of traders.
If you want to know how to buy Bitcoin with PayPal using eToro, you need to know that crypto is traded there in the form of CFD, so you don’t own the asset.
And how to buy Bitcoin without ID there if you can’t own it?
Keep calm, we will tell you everything.
First, you need to know how to buy Bitcoin with PayPal using eToro - it is very easy. Then, when your assets are on your account, you can open a deal on price increasing or decreasing. After you close the deal, all the assets you own will be converted to real money and you can send them to your PayPal account.
If you want to send your coins not to PayPal, but to a cryptocurrency wallet, then there may be difficulties. The fact is that with the help of eToro it is very easy to buy Bitcoin with PayPal, but it is difficult to withdraw this money to a cryptocurrency wallet, and, moreover, it takes a very long time.
Foy you to note: there is a list of countries where people can not manage on how to buy Bitcoin with PayPal. These countries include Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Botswana, Brunei, Burundi, Canada, Chad, Republic of Congo, Crimea Region, Cuba, Democratic Republic of the Congo, Ethiopia, Guyana, Guinea, Guinea-Bissau, Iran, Japan, Laos, Libya, Mali, Myanmar, Namibia, Nicaragua, North Korea, Palau, Samoa, Serbia, Somalia, Sudan, Syria, Turkey, Uganda, Yemen.
xCoins.io - Buy Bitcoin With
xCoins is a highly specialized service where you can buy only one type of cryptocurrency: Bitcoins. And it exists without an official license, and this is not the best fact.
Its purpose is to provide a trading space where users can transact among themselves. That is, if you have bitcoins, then you can "loan" them to others. You can also check how to buy Bitcoin with PayPal, which is very convenient.
In order to start trading, you need to register and enter basic personal information, namely name, surname, password and email (make sure to use the address associated with your PayPal card). After that, you need to connect two-factor authentication via Google Authenticator in order to protect your account from hacking.
To buy bitcoins, you just need to specify the required number of coins in the Get Bitcoin section and the site will automatically select available offers for you. A pleasant fact - the commissions that you have to pay to complete the transaction will be shown to you before you agree to complete the transaction. Not the best fact - there are many of them, and they are tall. Remember that when you buy currency for the first time, you will have to upload a scanned copy of your passport, otherwise the transaction will not take place.
On the one hand, the ability to buy Bitcoin with PayPal is very tempting and convenient. This offer makes
xCoins not the best service in the market. On the other hand, given that PayPal may regard such transactions as fraudulent and close your account for 180 days, the offer loses its attractiveness. In addition, the Xcoins site offers very high commissions and the site's terms of use are somewhat risky. The site also does not provide guarantees for the safety of your money.
Coinbase - Sell Bitcoin With PayPal
Yeah - Bitcoin exchange with PayPal!
Coinbase allows its users to make withdrawals through PayPal.
I think this way will be the best secure and cheap if we consider fees.
If you have an account on
Coinbase, it will be even better. If no - go there and open it, and remember that you need to pass the verification.
Then you need to activate PayPal as the payment method on your settings.
If you are not going to sell more than $10,000 per day, you will have almost no limits.
The only this we need to discuss is the list of supported countries. Now Coinbase works with almost all the European countries but it will be the best decision to check if your country is present on the list before you know how to buy Bitcoin with PayPal Coinbase.
VirWox - Buy Bitcoin With PayPal
I see that this method is popular among users who want to know how to buy Bitcoin with PayPal 2021 but for me, it seems a bit strange and not the best one (and this service is closed right now).
Nevertheless, let’s discuss it - maybe you will consider it the best way for you.
First things first - if you want to use VirWox to buy Bitcoin with PayPal without ID, it will be impossible.
VirWox is the service that exchanges the virtual currency, and Bitcoins as well.
The first thing you need to do is to open an account - to do this you will need to write the nickname, email, and password.
Then you will need to transfer the funds you want to exchange to Bitcoin from your PayPal account to VirWox with the help of the section “Deposit”.
Then, with the help of the section “Exchange”, you need to buy the asset named SLL. As soon as your account will have those SLL, use the “BTC/SLL” to get Bitcoins.
Then, using the section “Withdraw”, mention the amount of BTC you want to transfer to and your Bitcoin wallet address as well.
Remember that to withdraw any amount of BTC you will need to pay 0.01 BTC as a fee.
Not bad, right?
That is why I don’t like this method -
VirWox to buy Bitcoin with PayPal - you pay fees not one time and they are quite high, which is not the best situation. By the way, buy Bitcoins instantly is impossible here.
PaxFul - Buy Bitcoin With PayPal
Paxful is a P2P platform that directly connects a user who wants to sell bitcoin with someone who wants to buy it. The only intermediary in the transaction is the platform itself, which ensures the security of the transaction and minimizes the possibility that one of the participants in the transaction will become a victim of fraudsters.
To buy Bitcoin with PayPal on Paxful, you need to go through the registration process and KYC. The platform uses two-factor authentication (2FA) to better protect user accounts. To enable it, you need to enter the phone number and confirm it with the code from the SMS, and then activate the two-factor authentication option on the "Security" tab.
There are a variety of payment methods available on the Paxful website, including bank transfer, credit/debit card, PayPal, Skrill, Neteller, and even Amazon, Steam and iTunes trade certificates.
For sellers, Paxful charges them 1% of the total transaction amount. There is an additional commission for sellers that is charged when transferring bitcoin from one address to another. For each seller, you can read reviews, comments and see the rating before entering into a trade relationship.
Paxful is the best solution for those looking to buy or sell bitcoins quickly and easily. Moreover, the resource offers a huge selection of payment methods and supports various deposit methods, and, of course, you can buy Bitcoin with PayPal.
Where to Store Bitcoin You Received In
People who want to buy Bitcoin with PayPal should think in advance about where they will store these Bitcoins.
The first thing that comes to mind is cryptocurrency exchanges. But it's not that simple. We always tell traders who do not understand the difference between storing cryptocurrency on an exchange and on a wallet that the first storage is not as secure as it seems at first glance.
The fact is that all cryptocurrency exchanges are custodian services that store all your personal information, including private keys, on their servers. If this sounds too complicated for you, then I'll explain it in the best way - if hackers break into the exchange (and this happens quite often), then they will gain access to your money and no passwords and two-factor authentication will save you from this.
How do wallets differ from exchanges?
Firstly, if this wallet is custodian, then there is no difference. But, to a greater extent, all wallets are either non-custodial and do not own your private keys, or have a cold storage function.
If you, like many traders, are looking for the best way to store your cryptocurrency, then we will safely advise you to use hardware wallets such as Trezor or Ledger.
How to Manage Bitcoin You Received In
Of course, people buy Bitcoin with PayPal for a reason, but with the aim of making a profit from it. Roughly speaking, there are two ways to make a profit using Bitcoin - just keep it in your wallet and wait for it to grow, or start trading on a cryptocurrency exchange.
This topic definitely deserves a separate article, and you can read more about cryptocurrency trading in
this article in more detail.
What is easier - just keep Bitcoin in your account and wait or trade different coins?
First, it depends on your character. If you know how to wait and do not twitch from every 1% drop in Bitcoin, then, quite possibly, this solution is just best for you. If you are an impulsive person and do not want to just leave this money lying for 2 years or more, then you will definitely like cryptocurrency trading. In addition, it gives you the opportunity to make money not only by trading different currencies, but also by multiplying your capital while Bitcoin is growing.
Surely after my explanation, you were very much attracted by the second option. But here the question arises:
How to trade and make a profit if you are still a beginner and cannot analyze the market or you can but are not completely sure of the correctness of your conclusions?
Are we guessing your question?
Don't worry - there is the best solution to this problem called cryptocurrency signals. Again, we will not take much of your time explaining all the features of crypto signals - you can read about them
here if you are interested.
Final Thoughts - How To Buy Bitcoin With PayPal In 2021?
Okay, today we went through almost all the possible ways to buy Bitcoin with PayPal using PayPal Bitcoin exchanges and different online exchanging services and explained to you how to buy Bitcoin with PayPal.
If you asked me which service is the best to buy Bitcoin PayPal, I would tell you that I like the first one - LocalBitcoins.
Why?
Because it is really the best and safe, it allows you to buy Bitcoin instantly with PayPal, and you won’t be scammed and because fees are common, not as at VirWox.
Why not Coinbase?
Because now this cryptocurrency exchange offers to sell BTC only, so you can’t deposit to your Coinbase account with the help of PayPal.
If you want to use another service or
buy bitcoin using credit card and we didn’t discuss it in this article, I will advise you to pay attention to fees. Because sometimes everything seems the best on the market and very easy and fast but, eventually, you will pay unbelievable fees.
In addition, always pay attention to the security measures of the service and its, let's say, legitimacy. On the Internet, you can find a huge number of exchangers that claim that they will help you buy Bitcoin with PayPal, but some of them simply cover up their fraudulent schemes behind these promises.
I think that soon the situation with PayPal will be better. Now the
crypto market is expanding and it starts to cover a lot of aspects of our life because it is one the best ways of online trading.
We will see!
And for now, I wish you successful transactions and low fees!