Aug 08, · An example of a peer-to-peer lending platform that allows you to buy bitcoin with PayPal is XCOINS. So now you know the different types of platforms where you can buy bitcoin using PayPal. Why should you consider using PayPal in the first place? 5 Ways To Buy Bitcoin With PayPal Instantly. Other Ways to Buy Bitcoin with PayPal There are several other options to buy Bitcoin using PayPal. The best one is through eToro, a fintech brokerage company. Most other platforms that let you buy Bitcoin using PayPal are peer-to-peer sites, like ute-strohner.de, Paxful or xCoins. Sign up – Create an account and you will automatically get your free Bitcoin wallet. Find an offer – Once you have an account, choose the mode of payment, the amount of Bitcoin you’re willing to purchase and your preferred currency, and click Search for Offers.
How to get bitcoin paypal3 Easiest Ways to Buy Bitcoin with PayPal
Before we dive into how to buy Bitcoin, let us talk about why it is a good idea. To give you some ammunition, here are some reasons why buying Bitcoin could be a sound investment decision. Throughout , the narrative of Bitcoin as "digital gold" gained traction. Like gold, Bitcoin is a scarce asset as 21 million coins will ever be created. Unlike gold, however, Bitcoin has many properties commonly associated with money.
It is durable, verifiable, fungible, storable and divisible. In today's environment of seemingly unlimited monetary and fiscal stimulus, Bitcoin's monetary policy offers an effective hedge against inflation. While many institutional investors entered the space during , it's still early. As an investment, Bitcoin makes a lot of sense in a traditional portfolio. Research by blockchain analytics firm, Messari, shows that Bitcoin offers one of the best risk-adjusted returns in the world, exhibits low correlation with tradition assets in up and down markets and is extremely liquid.
Investment performance over the recent years speaks for itself. Sources: Messari INC. In addition to traditional institutional investors, corporate treasuries are starting to enter the space. Near-zero interest rates on cash balances and the tendency of fiat currency to lose purchasing power, make holding cash detrimental to shareholder value.
There are plenty of other arguments that support a Bitcoin investment thesis. For example, many consider its resistance to censorship to be a valuable characteristic. Now that I covered some reasons you might want to own Bitcoin, let us look at how to buy Bitcoin with PayPal. On November 12 th, , PayPal announced that eligible users in the U. If you are in the U. Unfortunately, you are not able to transfer crypto to other accounts on or off PayPal.
In , PayPal was expected to enable cryptocurrencies to be used as a funding source for purchases, improving their utility. If you do not have a PayPal account, you need to set one up. You will need a credit card or a bank account and your email address. The experience of buying crypto with PayPal is similar in both the app and the web interface.
Head over to the cryptocurrency section on the home screen or "payments" in the app , where you can choose which coin to buy. To move forward with your purchase, PayPal will ask you to confirm some information and agree to their Cryptocurrency Terms and Conditions.
Choose how much Bitcoin you want to buy, select the payment method card or bank account and click "Buy Now"! Great, you are now a proud owner of Bitcoin or another major cryptocurrency of your choice. It is worth repeating that PayPal currently does not let you transfer your crypto to other wallets on or off PayPal.
Another important consideration is the fee. PayPal intended to begin applying transaction fees in Starting in , however, PayPal begins to charge fees through pocketing the spread between the actual market price and the price quoted to the users. The company said that it "will not separately calculate or disclose the spread we earn on each transaction.
There are several other options to buy Bitcoin using PayPal. The best one is through eToro , a fintech brokerage company. Most other platforms that let you buy Bitcoin using PayPal are peer-to-peer sites, like LocalBitcoins.
Buying Bitcoin through a peer-to-peer site has its disadvantages, including security, inflated prices, and high fees. Let us briefly examine them. Taking eToro first, it is not a crypto-focused company, per se. Instead, it is a relatively traditional trading and brokerage business outside the U. It introduced crypto trading using contracts for difference CFDs in Excepting buying Bitcoin directly via PayPal, eToro is the easiest and cheapest option. To buy Bitcoin with eToro, you will need to register for an account and verify your identity.
From there, it is simply a matter of depositing funds into your account and choosing PayPal as your preferred method. Once funds are deposited, you are good to go. LocalBitcoins is a peer-to-peer Bitcoin trading site, founded in You can easily search by payment method, PayPal in our case.
It is important to assess the seller and consider whether they are trustworthy. You should check their feedback score, number of confirmed trades, trust rating and whether anyone has blocked this seller.
See below:. In this chapter, we will answer some of the most commonly asked questions about buying bitcoin using Paypal. Using an exchange like Coinbase you can sell bitcoins to your PayPal account. There have been rumors that PayPal has been planning Bitcoin integration. And as recently as July 22, , an unknown source inside of PayPal claims they will be adding a way to buy bitcoins through PayPal soon.
Even so, PayPal still has not integrated Bitcoin with its services and even if the rumors are true, there is no guarantee there will be an integrated wallet. Paxful is another way to buy bitcoin with PayPal. You can view listings here.
Do you want to buy large amounts of bitcoin? Try buying bitcoins with bank transfer instead. Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control. As mentioned above, you can sell your Bitcoins to Coinbase or on LocalBitcoins and receive cash to your Paypal account. The fees for selling bitcoins to PayPal are 3. You can use this method to buy bitcoins and then trade the bitcoins for another cryptocurrency using an exchange like Poloniex or Kraken.
Poloniex is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal. Well, the answer is no. Poloniex only deals with cryptocurrency and does not accept deposits using credit card, bank transfer, cash or PayPal.
Kraken is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal. Coinmama is currently one of the biggest exchanges. Many people want to know if it accepts deposits via PayPal.
In this last chapter, we will cover common scams and hacks related to buying Bitcoin using paypal, as well as how to store your Bitcoins after buying so that they remain safe. It's up to you to protect you investment, so pay close attention - buying is only half the battle.
I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same. Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins. Following these two basic principles should help you avoid theft, scams, and any other loss of funds:. In this bonus chapter, we walk you through how to buy bitcoin on localbitcoins using Paypal, every step of the way.
By the time you complete this chapter, it should be easy for you to get your Bitcoins using Paypal. We don't recommend buying bitcoins with PayPal on LocalBitcoins. Another con of using LocalBitcoins is you are dealing with an individual seller rather than a marketplace. You will also need a verified phone number connected to your LocalBitcoins account. To start, login to LocalBitcoins and then enter your buy amount and PayPal as the payment method:.
You should now see a list of sellers willing to accept PayPal. In the example above, you can see the buyer's limits on the left side USD. On the right, the buyer has laid a number of rules and requirements for your PayPal account. This buyer, for example, requires that you send a picture of your photo ID, have a verified PayPal account, and also send a selfie holding your ID. Note, you can also check a seller's feedback and history.
Click on the username on the right side and a new tab will show that looks like this:. If you had a verified account then on the left side you would be able to enter how much you want to buy and go through with your trade! In this bonus chapter, we discuss the history of Paypal's comments on Bitcoin and its recent addition to the platform. In late October of , Paypal announced it would begin selling Bitcoin and 3 other common cryptos on its platform, directly to its million users.
Hardcore Bitcoiners will be sad to know that the buying functionality is really limited for now. Users can only buy and sell thier Bitcoins within Paypal. That means that users cannot withdraw the coins or even transfer them to other paypal users. Because of this, there is no way for a buyer to take custody of the coins himself.
He must trust Paypal to custody them for him. This may be ideal for older, less technically abled investors who merely want price action from Bitcoin. Still, for now, Paypal is basically offering users a way to speculate on the price of Bitcoin and nothing else.
There is one exception to this. Users can spend the Bitcoin with merchants who accept Bitcoin via Paypal. This is because Paypal is not sending the merchant Bitcoin anyway. They are payhing the merchant in USD and accepting the Bitcoin on their behalf. So when you spend your Paypal Bitcoins at one of these merchants, they are just selling your Bitcoin for you in order to pay the merchant. This announcement seemed to negate an earlier suggestion by a top executive at PayPal that Bitcoin would become a popular payment option.
However, Rainey indicated that it would take years before this would ever become a reality. Max Levchin was quoted in December saying that the digital asset technology was revolutionary. Even so, Levchin did not think that PayPal was ready to embrace the technology yet.
In early , it emerged that Paypal had begun something called the "Blockchain Research Group" and posted job openings for eight engineering positions in San Jose, California and Singapore. We are a strong believer in the potential of blockchain. The digitization of currency is only a matter of when not if. Then, on July 22, , Coindesk broke the story that Paypal would be adding Bitcoin and other crypto purchasing through its platform soon.
As of now, we do not know when Paypal intends on launching this service or even what coins it will support, though its almost certain Bitcoin will among the coins offered. Paxos will handle all custody, KYC, and compliance. Paypal will merely allow you to use your paypal balance to or connected cards to buy and sell Bitcoin through its own user interface.
This allowed merchants using Paypal to also accept cryptocurrencies with minimal effort. John Donahoe, the Chief Executive Officer at eBay, said he believed such a partnership would hugely benefit his company in the future.