Where to buy Bitcoin with PayPal
With the value of Bitcoin gaining traction, several merchants across the world are gradually pushing it into the mainstream market. PayPal, the new entrant in the crypto market allows users to transact on the platform using Bitcoin. This is a major milestone in the history of crypto.
Though most Bitcoin platforms support various payment methods, PayPal is better placed to guarantee the safety of your transactions. The main downside of Paypal is that it doesn’t support direct bitcoin transactions. Otherwise, it is a perfect choice in case you intend to purchase BTC on various platforms.
Unlike other financial institutions that are skeptical about the viability of BTC investment, PayPal joins other giant merchants like Microsoft in endorsing BTC as a mode of payment. As a worldwide payment system, joining the crypto community is a major milestone for crypto users.
Unlike fiat currencies that can be reversed, Bitcoin transactions are irreversible. This means to use PayPal in transactions, you have to use a credible trading marketplace or platform that allows users to purchase BTC through PayPal. For more information you can read the guidelines for cryptocurrency
In case you want to purchase Bitcoin through PayPal as a payment method, you have to first identify an exchange that will allow you to make a deposit using PayPal as a payment option. Some of the options include market places, peer-to-peer lending, and trading platforms, and is explained in detail here.
Before diving into details regarding where you can buy BTC using PayPal, let’s look at how you can buy the crypto with PayPal.
Can I use Paypal to buy Bitcoin?
Yes, you can purchase BTC via PayPal as a payment method? Though there’s no direct way of using PayPal to purchase BTC, you can opt to use a reliable marketplace or trading platform to purchase BTC via PayPal.
What are the pros and cons of buying BTC via PayPal?
Pros
- Ideal in securing your transaction
- You do not need to worry about identity verification
- The transaction is seamless and fast
Cons
Other alternative payment methods like bank transfer and debit cards are secure and low risk than buying Bitcoin via PayPal.
How to buy BTC through PayPal onEtoro
- Create an account on Etoro
- Verify the account
- Link your PayPal account and fund your trading account
- Proceed to Bitcoin and choose the amount you want to buy.
- Bitcoinsare then added to your Etoro account
Be that as it may, PayPal remains one of the most secure online platforms that you should embrace for your Bitcoin transactions. Coupled with strict buyer protection policies and flexible payment options, you can embrace it for BTC transactions to secure your investment.
That’s all! You have bought BTC using PayPal as a payment method.
Some of the platforms that allow users to purchase BTC with PayPal include the following.
Trading platforms
Trading platforms are places where crypto users buy and sell BTC along with other cryptocurrencies. While many brokers do not allow PayPal deposits, some do. A key player allowing traders to purchase bitcoin using Paypal includes Etoro.
Person to person market places
Person-to-person marketplaces are platforms that link up sellers with buyers. This allows users to trade directly with each other. To find sellers that allow PayPal as a payment method, you simply have to sign up on a reliable person-to-person marketplace that supports escrow transactions.
To avoid cases of scams in such platforms, escrow plays a great role in securing transactions. Some of the notable person-to-person market places include LocalBitcoins and Paxful.
Peer To peer Lending Platforms
Peer-to-peer lending platforms allow BTC usersto buy various cryptocurrencies directly from dealers. In such a context, crypto is loaned to potential buyers, and payment is sent to the seller in a single transaction. A notable Peer to Peer Lending Platform includes XCOINS.
Conclusion
If you have a PayPal account and wondering whether you can use it to buy BTC, then it’s high time you try it out. Being one of the most reliable payment methods in the World, embracing PayPal as a method of payment provides a perfect opportunity to secure your online transactions.
Besides enjoying buyer protection, you are assured of fast and efficient transactions. In case you are skeptical about the reliability of PayPal for your BTC transactions, you can opt to use escrow in all your transactions to secure your funds.