Want to buy Bitcoin with PayPal but don’t know how? Buying bitcoin or altcoins with PayPal money is not very convenient, and the charges are also really high, which is why we usually don’t recommend it. However, if due to any reason you still want to buy Bitcoin with PayPal, we are here to help you with your decision. So, without wasting another moment, let’s get started.
If you are thinking to buy Bitcoin with PayPal, let us tell you that there is no direct way to do so. Because of security issues, cryptocurrency exchanges don’t provide the option to purchase cryptocurrencies directly using PayPal. However, some P2P platforms give you the ability to purchase bitcoin with PayPal money. Some of them are given below:
LocalBitcoins is one of the most reputable peer-to-peer crypto trading platforms that let you buy bitcoin with PayPal directly connecting with the seller. Moreover, you can also sell your bitcoins and altcoins here by placing ads. The best thing about LocalBitcoins is that it is available all around the world and also supports multiple payment methods that are usually not available on exchanges. The interface of the platform is straightforward, and anyone without much knowledge of crypto trading can place ads, buy and sell on the platform.
There are no mandatory ID verification requirements, however, it completely depends on the seller. Whether you are looking to buy Bitcoin with Paypal in India or without verification, you can look for the seller with your matched requirements. As LocalBitcoins is a p2p platform, there are always risks of getting scammed, both for buyers as well as sellers. We suggest if you are giving LocalBitcoins a thought, just be extra careful and follow the proper guidelines by the platform.
Once, you find a seller who is providing Bitcoins in exchange for PayPal money, you should verify his profile, confirmed trades, trading volumes as well as feedback of other buyers. This would help you stay secure from any sort of fraud schemes and seller.
Follow the below steps to learn how to buy Bitcoins with PayPal on LocalBitcoins:
Keep reading to find more ways to buy Bitcoins with PayPal.
Paxful is a peer to peer marketplace just like LocalBitcoin that offers many payment options including, PayPal, Gift cards, Skrill, Payoneer etc. Moreover, to buy Bitcoins you would need to have verified USA Paypal account. If you don’t have a verified PayPal account then you can’t make purchases on the platform. To verify your account, you would need to link your debit/credit card, bank account and ID on Paypal. Besides, it depends on sellers if they need identity verification or not.
The process of buying Bitcoins on Paxful is really easy. Still, if you need help with the procedure, use the steps given below:
Make sure to transfer the received Bitcoin in your private wallet to avoid any scams or phishing attacks. On Paxful, you can buy and sell Bitcoins with various payment methods. If there’s any other payment method, you would like to use instead, you can search for them also.
These were the two best P2P platform that allows you to buy Bitcoin with Paypal. There are other platforms like eToro and xCoins that also lets you take benefits from the price fluctuations in bitcoins. However, as a beginner, you might find these platform a little bit confusing. eToro, unlike trading exchanges, doesn't let you buy Bitcoins actually. On the other hand, xCoins also have a shady platform and it is clear whether they are selling bitcoins or just giving them on loan. If you are interested in any of these platforms, we suggest you do extensive research about how these platforms work and if they are safe to use. As said above, both LocalBitcoins and Paxful are as safe as any peer to peer platform can be and have a good reputation among users.
Most of these platforms need you to have a verified PayPal account which means you should have your bank account and credit card linked to the account. Then why buy Bitcoins through PayPal with high fees when you can simply buy it with your bank account and credit/debit card directly. The reason bank transfer and credit/debit card purchases are more convenient is not only because of the low fee but it is safe too. Moreover, many major exchanges like Coinbase, Kraken and CEX.io lets you buy Bitcoins and many other altcoins with these payments methods and are safer than P2P platforms.
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