It is no secret that buying Bitcoin (BTC) with PayPal is extremely complicated (not to say officially impossible). However, PayPal's prohibitions have never stopped users from buying bitcoins with THEIR money. Although the steps are tedious, the truth is that ti is possible —despite PayPal's efforts— and PayPal is an excellent way to invest in crypto if you have a few extra bucks doing nothing on your account.
Here are three easy ways to buy Bitcoins with Paypal
Method #1: Buy Bitcoin With Paypal Using Virwox
Virwox is a virtual currency exchange with more than ten years of existence. It is one of the most important independent virtual currency exchanges in the world.
Note that when we talk about virtual currencies, we don't mean Cryptocurrencies. These are just one branch of a broad group of coins that also includes gaming tokens such as SLL (Second Life Linden) or OM¢ (Open Metaverse Currency).
To buy Bitcoins on this platform, you must follow these steps
- Register on the platform
- Deposit real-world money from a PayPal account, Paysafecard, Skrill, or bank account on the Deposit page
- Place an order to SELL the real-world currency for your OM¢
- Exchange your OM¢ for SLL
- Exchange your SLL for BTC
A little complicated, but sometimes you can get good offers. A more graphic outlook is available on the image ath the beginning of this explanation
Method #2: Buy Bitcoin With PayPal Using a P2P Platform
The two most popular and recommended platforms for this option are Localbitcoins and Paxful. To make things easier, we are going to explain how to market buy your BTCs —although you can create an offer asking for a specific rate, but it is a little more complicated.
The steps are similar for both platforms:
- Register on the platform and comply with its KYC policies (This process involves sending proof of identity, statement of the source of funds, and other personal information).
- After being approved, click on the option to buy Bitcoin, select Paypal as payment method and USD as currency.
- Click on buy when you see an ad that fits your needs. We recommend that you take into account two important things: The lowest price and the highest reputation. Sometimes it is better to pay a little more to be sure that you will not be the victim of a scam by trading with a reputable counterparty.
- After opening the offer, it is possible that the seller will ask you for some requisites (like a picture with a handwritten note declaring that you are not going to ask for a refund, a screenshot of your account with the address and a photograph) You must comply with these steps and after the seller has verified you, send the money to their address.
- After this person receives the funds, they will send you the BTCs, and you will have the opportunity to leave feedback.
Don't forget to do ALL the communication within the platform; otherwise, you will never be able to get your bitcoins in case of a problem.
Method #3: Buy Bitcoin With PayPal Using Dundle
This is the fastest and easiest option of all. On Dundle.com, you can buy gift cards for a wide range of services.
One of the options they added recently was the purchase of Bitnovo vouchers, and this is what you will use to buy BTC with PayPal.
To buy BTC with this option, follow these steps:
- Login to Dundle.com
- In the available gift cards select the one with the Bitnovo logo
- Select the amount you want to buy
- Click on checkout
- Select the email to which you will receive the voucher
- Pay your order
- You will receive a code, which you must redeem on the Bitnovo platform to send your BTCs to your wallet or to one that you can create on this platform.
As you can see, it is really easy to buy Bitcoins with PayPal. however, you must be very careful with this system. That is why sometimes you will have to pay around 10% more (plus fees) due to the risks involved.
But if you are lazy or really need to trade, any of these methods will do the trick.
You can store your Bitcoins on a hot wallet if you are planning to spend those satoshis soon. If that's the case, check out our list for the best five crypto wallets everybody shouldt try at least once.
But if you want to keep your Bitcoins in the safest way possible, away from hacks, scams and any attack, check out our list for the top hardware wallets in the market besides Trezor and Ledger. Maybe one of those will blow your mind!
Happy Hodling! Long Bitcoin, Short PayPal ;)