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How To Buy Bitcoin With PayPal?

BitForex Editor
Nov 03, 2020

There are currently various ways for people to purchase cryptocurrencies like Bitcoin, amongst others, and PayPal, a popular payment platform, is one of the available choices for people seeking to buy Bitcoin and other cryptocurrencies. PayPal remains one of the most suitable payment methods for people to make and receive payment worldwide. Exchanges, as well as various crypto brokerage services, allow people to purchase digital currencies with this payment option; however, this article will focus on how to buy cryptocurrencies like Bitcoin with PayPal.

Some trading platforms provide users the opportunity to make payment with either a credit or debit card and also bank transfers as well. Today, there are many businesses that allow individuals to purchase cryptocurrencies like Bitcoin using the PayPal payment processor. In other to purchase Bitcoin by leveraging PayPal, it is first of all necessary to have a PayPal account, after which you will also need to register with a brokerage service or trading platform that deals in the selling of digital currencies like Bitcoin using PayPal, and there are various services available which allow users to make payment for their cryptos using this payment provider, so you will definitely have a good number of services to choose from. Finally, you will need a cryptocurrency wallet that supports the digital asset you want to purchase, like in the case of a Bitcoin wallet that allows users to send, receive as well as store both Bitcoin and Bitcoin Cash. That being said, some of the legitimate ways to buy Bitcoin using PayPal includes;

Buying Bitcoin With PayPal Using A Peer-To-Peer Market Place

One way you can use PayPal to purchase cryptocurrencies is by making use of a peer to peer market place like "Local Bitcoin." In other to purchase Bitcoin using PayPal, you can easily register and then log into your local Bitcoin account before proceeding to press the "trades" tab," after which you will get access to the "find an offer" as well as "create an offer" tabs.

You can simply locate people who sell Bitcoin and accept PayPal to make payment in the "find an offer" section. In a situation where you are planning on selling Bitcoin, you can easily go to the "create an offer" section where you can simply create one accepts PayPal as a means of making payment. Considering the worldwide listings on the Bitcoin market place, it is easy to see that there are many buyers and sellers who make use of PayPal.

Step by Step procedure on how to use PayPal to purchase Bitcoin

The first step involves selecting the Bitcoin amount you want to purchase in your local currency, like USD, your country or another country; hence PayPal is online, and you can as well use it with people from various other countries that make use of PayPal, after which you then select PayPal as the method of payment.

Local Bitcoins is a marketplace that connects buyers and sellers directly, so after selecting search, you can easily browse through a selection of sellers before choosing one to deal with. That is after you have reviewed their profile information, and you are satisfied with the details.

Once you have chosen a seller, you can then select buy and then enter your desired amount of Bitcoin you wish to purchase before you then initiate the trade. It is necessary for you to note the seller's trade limits, payment window, which is the amount of time you have to finalize the purchase, mark the payment as done, and terms of trade. In some cases, some sellers won't deal with you until you have established so sort of reputation on the site; this you can easily do by carrying out some small transactions.

Once you are done with the previous steps, you can then proceed to send your trade request. After your request has been accepted by the seller, you can then send your Bitcoin and select the I have paid button before the seller's Bitcoin is then sent to your LocalBitcoins wallet after it has been released from LocalBitcoins escrow

It is essential that you store your Bitcoin in a wallet that you can control, one that is off Local Bitcoins, so as to avoid falling prey to hackers.

Buying Bitcoin With PayPal Using an Exchange

Numerous people make use of the exchange Coinbase from the moment they added the opportunity for users to link both their Coinbase and PayPal accounts. Based on your location, you can sell or purchase digital assets listed on Coinbase using the PayPal system. It is necessary to complete all of the identity verification procedures required if you want to make use of Coinbase to utilize PayPal. After your identity has been confirmed with Coinbase, you can then proceed to the "settings" section and from there to "Linked Accounts."

You then proceed to click on the "new account" and then select PayPal, after which the Coinbase dashboard will prompt you to log into PayPal. After you have completed all the necessary steps, you can then purchase digital assets with PayPal by using the exchange. It is important to note that your PayPal account can only be linked to a single Coinbase account; also, while you are able to sell or withdraw from Coinbase to a PayPal account, you, however, cannot buy cryptocurrencies from Coinbase using your PayPal account.

About BitForex:

BitForex is an exchange service platform that can be classified as one of the Top 10 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.

BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts,  derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.

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