5 Methods to Buy Bitcoin with PayPal
If you already have a PayPal account and prefer not to use other payment methods to buy Bitcoin, it’s possible to do so with PayPal. However, finding places that accept PayPal for Bitcoin purchases can be challenging. Here are five methods to buy Bitcoin with PayPal instantly (most of the time). Remember, PayPal allows refunds, unlike Bitcoin, which can lead to potential fraud. Keep this in mind when using these methods.
1. Buy Bitcoin via PayPal and Virwox
Virwox, or Virtual World Exchange, allows you to buy a virtual currency called SLL (Second Life Linden Dollars) from the game Second Life using PayPal, which you can then exchange for Bitcoin. However, Virwox limits the amount you can deposit via PayPal or credit card, charges higher transaction fees than average, and imposes a waiting time for transactions from new users, which can be up to 48 hours.
2. Buy Bitcoin via LocalBitcoins
LocalBitcoins is a popular platform that isn’t quite an exchange but a website that allows you to find people selling Bitcoin near you. These sellers set their payment methods, meaning there’s a chance they will accept PayPal payments.
3. Buy Bitcoin with PayPal and Wirex
Wirex is a company that sells virtual and physical Bitcoin debit cards. These cards work like any other debit card, allowing you to use them with your PayPal account. However, the process can take a considerable amount of time – up to 10 days, depending on where you live.
4. Buy Bitcoin with PayPal via Paxful
Paxful is similar to LocalBitcoins but smaller and less well-known. When you create an account, you choose your payment method and the amount you want to buy. You then manually select a seller or let Paxful find one for you. The downsides are high exchange rates and a higher risk of being scammed.
5. Buy Bitcoin with PayPal via eToro
eToro is a popular trading platform that allows users to trade various assets, including Bitcoin. You can deposit funds into your eToro account using PayPal and then use those funds to buy Bitcoin. eToro is user-friendly and offers a secure way to purchase Bitcoin, but it charges fees for trading and withdrawals.
Conclusion
While it is possible to buy Bitcoin with PayPal, the process can be more complicated and expensive than using other payment methods. If none of these solutions suit you, remember that other faster and more secure options for buying Bitcoin are available. Always exercise caution and ensure you use reputable platforms to avoid potential scams.
