Easy Methods To Buy Bitcoins With PayPal
Well, if this is all you are looking for, this is the right place to know about it. Usually, buying bitcoin with PayPal has always been troublesome and difficult. Actually, you cannot directly buy Bitcoins using PayPal, as these transactions are irrevocable. There are some secondary methods to buy Bitcoins using PayPal. These methods are easy and will make you overcome the issues and difficulties that you face when you buy Bitcoins using PayPal.
How to buy bitcoin using Pay Pal? – A complete summary
With PayPal making itaccessible,it is an advantage to may payments quickly and easily. There are several services that open doors for buying bitcoin using PayPal.The inconvenient part is, you have to take extra steps and that your options are limited.
To make this game easier, we have listed some of the methods by which PayPal to bitcoin transactioncan be made without any difficulty.
- How to buy Bitcoins using PayPal through LocalBitcoins
- How to buy Bitcoins using PayPal through Paxful
- How to buy Bitcoins using PayPal through eToro
- How to buy Bitcoins using PayPal through Xcoins
- How to buy Bitcoins using PayPal through VirWox
- How to buy Bitcoins using PayPal through WirexApp
How to buy Bitcoins using PayPal through Local Bitcoins
Local Bitcoins is a very popularsimple exchange service. It offers its service in many countries. It helps you findBitcoinssellers and buyers in your local area and allows a transaction that is convinced for both. Once both the buyer and seller get banded together, each sends Bitcoins and money to their Local Bitcoins account. Once the account acknowledges this,theBitcoins and currencies are sent to its respective parties. This transaction of buying Bitcoins is made easy with Pay Pal.
LocalBitcoins pros and cons
Pros
- No specific transfer limits. Made quick, easy andsimple way.
- Conceivably the most cost-effective way of buying Bitcoinswith Pay Pal through localBitcoins.
Cons
- You have to search for your buyer or seller, some timesthey might not accept Pay Pal.
- The rate offered to you will depend on the kind of deal you opt for.
How to buy Bitcoins using PayPal through Paxful
This is much similar to LocalBitcoins. All you need is to sign in for a Paxful account. Then search for buyer and seller offers. Once chosen,they pay Bitcoins and currencies to escrow through PayPal. After confirmation of the trade. The funds are given to each party.
Paxful pros and cons
Pros
- Quick, easy andsimple
- A most cost-efficient way to buy Bitcoin using Pay Pal with Paxful. It has no specific transfer limit.
- It provides complete information about the buyer or seller
Cons
- Your offer depends on the deal you prefer
- You have to find your seller or buyer. They should accept the PayPal transaction.
How to buy Bitcoins using PayPal through eToro
eToro is one of the most expensive methods to buy bitcoin using Pay Pal. It takes 2.90% for every bitcoin transaction. All you need is to signupfor an account. Select PayPal as your payment method and deposit funds.Then choose to buy Bitcoins.
eToro pros and cons
Pros
- A wide range of payment methods is accepted
Cons
- Not available in many countries.
- For every trade you make to buy Bitcoin using PayPal through eToro will cost a deduction fee of 2.90%.
- The minimum trade limit to start trade is $250.
How to buy Bitcoins using PayPal through Xcoins
Xcoins is a P2P platform which allows you to buy Bitcoins using PayPal but in the form of a loan. Here the seller offers Bitcoins and the buyer gets bitcoin loan to buy it with an interest rate. However, you can opt to pay the loan in a single payment. It takes a deduction fee of 2.90%+0.3 USD.
Xcoins pros and cons
Pros
- A relatively simple and useful method to buy Bitcoins using Pay Pal.
Cons
- Very bad privacy and security reputation and can easily be hacked
- The rate of interest is high, minimum of 20%. There will not be value for money
- PayPal exchange rates should be used as they do not accept INR
- Has a minimum trade limit of $10 and a maximum of $1000
How to buy Bitcoins using PayPal through VirWox
This is a unique way to buy Bitcoins using Pay Pal.Here all that you have to do is buy SLL (Linden Dollars) and then purchase your Bitcoins using these SLL tokens. The deduction fee is affordable when compared to other methods. You can trade Bitcoinsusing PayPal on VirWox in few simple steps. Create aVirWox account, deposit funds using PayPal. Buy SLL tokens and use this linden dollar to buy Bitcoins and withdraw them.
VirWox pros and cons
Pros
- VirWox is the most reliable and safest method of all to buy Bitcoins with PayPal
- Only service that allows full Bitcoins exchange with the deposit made
- Most olden currency exchange method
Cons
- Does not accept INR for bitcoin exchange
- You will need to pay a processing fee for every deposit to SLL trade and again while converting SLL to bitcoin.
How to buy Bitcoins using PayPal through WirexApp
This is the only method in which you can buy bitcoin using PayPal and convert into any form of currency. This is a very secure service which allows you to trade 8 different cryptocurrencies. You can directly buy Bitcoinswith PayPal using the Wirex e-debit card,which is cost-free. This makes work easier and quicker. All that you need to do is create a Wirex account and add your PayPal card details. Now you will receive your wires E-Debit card within 7 days. Add the card details and trade Bitcoins with PayPal using WirexApp.
WirexApp pros and cons
Pros
- Wirex is the most secure, quick and easy method to buy Bitcoins using PayPal.
- It accepts a wide range of currencies.
- It offers the e-debit card to make the process more easy and fast.
- No deduction fee while buying Bitcoins.
Cons
- Initially, delays for 1 to 2 days for processing your e-debit card after which it is simple.
Conclusion
On the whole, even if there is a hand full of methods to buy Bitcoins using PayPal, the important factors to be noted are deduction or processing fee for trading Bitcoins, the security and acceptance of INR for buying Bitcoins using PayPal are still a hindrance in trade. If you are from other countries like Italy, I would suggest you investing in something such as trading Bitcoin. The best way to begin with trading for beginners is by using bitcoin robots such as the Bitcoin Revolution. One thing you need to be wary of though is scams in this industry. The best way to know if you see a scam or not in the Italian market, is by having the keyword truffa, followed by the robot name, in this case, it would be Bitcoin Revolution truffa, or bitcoin era truffa. Trading with Bitcoin and cryptocurrencies poses risks due to the high volatility. You should always invest a moderate amount before going all in
FAQ
Is it secure to buy Bitcoins using PayPal?
Yes. It is completely safe to buy Bitcoins using PayPal.
Can you buy Bitcoins directly with PayPal?
No, you cannot directly buy Bitcoins using PayPal. It is possible only through other methods by creating a user account.