There is no doubt that Bitcoin is the most exciting topic at this moment all over the places. After so many people made a lot of profits from investing in Bitcoin market, many more got interested in buying and exchanging this form of cryptocurrency. However, many potential buyers have pushed themselves back because of payment methods, as those seemed problematic to them. If you are one of those people, then congratulations, you are in the right place and by the end of this article, you will be a pro in buying Bitcoin as easily as purchasing it through PayPal.
How to buy Bitcoins with PayPal?
There are many websites available for users to purchase Bitcoins via PayPal. You can buy Bitcoin with PayPal from the following Bitcoin exchange websites.
The process of purchasing Bitcoins with PayPal is usually the same for various websites. Here is what you need to do.
- Visit the website of your choice.
- Sign up for the website by entering details (mail, ID, PayPal Account ID etc.).
- Deposit an amount to that website’s account with PayPal.
- Buy or exchange your money into US Dollars.
- Buy Bitcoins with your newly acquired Dollars, SLL.
- Withdraw your Bitcoins into your Web Wallet.
Instead of asking, ‘can you buy Bitcoin with PayPal?‘– The question needs to be, ‘how can I build a substantial financial base by purchasing BTC with my PayPal Account?‘
What are the Pros and Cons of buying Bitcoins with PayPal? Here are some:
- Websites like VirWox have allowed their users to buy bitcoin with PayPal instantly for a long time.
- PayPal is a safe method of payment.
- As a buyer, PayPal backs you up and in case of issues, and it supports its customers.
- Some websites can be costly (they have high exchange rates).
- Come websites impose additional fees when buyers choose PayPal their preferred method of payment
- There is a high chance of scam. You have to be as careful as possible while choosing a seller and try to avoid scams.
- There are not many websites that accept PayPal as a mean of payment. This is because a payment made by your PayPal account is reversible, meanwhile, Bitcoin is irreversible.
What should you check before buying Bitcoins from a website?
If you do a simple search ‘How to buy Bitcoin PayPal’ on the Internet, you will come across a lot of websites which are going to offer cheap deals. The question is whether they are safe or not.
Below are ways to find out whether a site is safe or not to buy bitcoin through PayPal –
- Websites with perfect deals are risky. Avoid them. In case you find slogans like “buy bitcoin for 5% discount, less than market value. Save a lot of money!” it is most likely to be a fake one.
- Check site rating: After searching ‘where to buy bitcoin with PayPal’ on the internet and finding a website, search about the website and cross check with Google ratings, various forums and so on.
- Check whether the website is a secured one. Make sure there is an ‘s’ after the HTTP. This indicates that the web-traffic is secure and encrypted. All major bitcoin to PayPal websites have this.
- Use safe browsing tools. Norton Safe Web, WOT, McAfee Site Advisor are some tools to use while browsing these websites. These tools help in displaying site safety levels.
- Find the site’s reputation. What does the public say about it? Does it rank highly among users who have transacted with it?
How to Sell Bitcoin and Be Paid by PayPal?
Websites that allow users to sell Bitcoins and get paid directly into the PayPal accounts are easy to find.
These are some of the trusted bitcoin to PayPal websites. To access these websites:
- The user first needs to sign up.
- Next, you link your Bitcoin wallet to these websites.
- Remember to make sure that they are safe.
The websites are:
To use UQUID, follow the steps below.
- Deposit to UQUID with Bitcoin from the wallet.
- Buy Virtual UQUID Debit Card
- Load a small amount into the card
- Add this card to your PayPal account
- Sell your Bitcoin and receive payments
On this website, you can
- Sell Bitcoins.
- Withdraw them to your credit card or debit card, which is linked to PayPal.
- Exchange and deposit BTC.
- Once your account has a lot of BTC, you can convert it into USD or EUR.
Paxful allows the users to do the following:
- search for the amount they want to sell
- Find ways to transfer it.
It is safe, but it can be costly.
How to Secure Your Bitcoin after Purchasing It?
The question following ‘How to buy bitcoin by PayPal?‘ should naturally be ‘How do I secure my BTC?’
Crucial steps to securing your BTC are:
- Transfer your bitcoins to your hardware wallet. It is a device built like a USB drive. It carries your BTC physically.
- Store a small amount in a wallet app. It is useful at that moment when you need instant cash.
- Do not trust anyone with your security details; to avoid being scammed.
- Keep your private keys in a safe place. Make sure it is secure at all times.
Summing it up
The world of Bitcoins is an exciting one. It is possible to buy Bitcoins with PayPal. Using that amount in your PayPal account to purchase some BTC can benefit you considerably in the future! I hope you will make wise decisions as you engage in this venture. Please make sure to explore our website for more exciting articles about Bitcoins and other cryptocurrencies.