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kurosaki ichigo

Buying Bitcoin with PayPal (Beginner’s Guide)

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kurosaki ichigo
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Even though PayPal has been very favorable of Bitcoin in recent years, it’s still an issue to find credible places to buy bitcoins with PayPal in 2019. This is mainly due to chargeback issues (here’s a short video illustrating this). This post will cover tested methods that will allow you to overcome this issue.

How do I Buy Bitcoin with PayPal Summary Ever since Virwox shut down its PayPal deposits in January 2019 it got really hard to obtain Bitcoins through a PayPal account. The two main methods that still allow you to buy Bitcoins with PayPal are  eToro (for those who only speculate on price and don’t need access to the actual coins) and  LocalBitcoins (for those who want to actually withdraw Bitcoins to their own wallet).

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1. Buy Bitcoin with PayPal through eToro

Pros : Relatively low fees, a variety of payment methods accepted

Cons : Not available worldwide, profits can only be withdrawn in fiat currency (i.e. USD, EUR, etc.)

The easiest way to buy Bitcoin with PayPal would be through eToro but only for a limited purpose.

while the platform will allow you to buy bitcoins with PayPal, you will not be able to withdraw or send your bitcoins to other people, only to change them back to fiat currency (i.e., dollars or euros). In other words, eToro allows you to speculate on Bitcoin’s price rather than to buy the actual coin. If you’re just looking to profit from price swings and don’t require the actual bitcoins, this is probably the easiest and cheapest way to go. If, however, you need the actual bitcoins to buy stuff or send them to another person, keep reading.

VISITE ETORO NOW

 

2. Buy Bitcoin with PayPal through LocalBitcoins

LocalBitcoins, unlike eToro, is a marketplace where buyers and sellers connect directly.

When you use LocalBitcoins, you’re dealing with an actual person, which means that the seller’s credibility is another thing to watch out for. As for fees, sellers will usually charge a premium since they’re taking a big risk of buyer chargebacks. The upside is that you will usually get your bitcoins faster.

How to Use Local Bitcoins :

Step 1 – Enter your search parameters

The first step will be to go to LocalBitcoins and enter how many bitcoins you want to buy and from which country. Since LocalBitcoins was originally made for people to meet face to face, there’s no “worldwide” search, which is a shame. You have to go through each country, one at a time.

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Step 2 – Choose your seller

On the next screen, you’ll see a list of available sellers, you can now browse them one by one.

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Some of the things I’d check before trusting a seller are:

  1. Feedback score
  2. How many confirmed trades does this seller have?
  3. How old is the account?
  4. How many people trust this seller?
  5. How many people blocked this seller?

In the end there’s no real measurement to help you evaluate how reliable a seller is.

You will need to use common sense after reviewing his complete details.

Step 3 – Complete the trade

Once you’ve found your seller, you’ll be taken to the trade screen. There you’ll be able to see information about the user’s trade limits, location and payment window (How much time you have for sending funds and marking the payment done after you initiate a trade).

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It’s also super important to read the terms of trade for the specific seller located on the right side. Here’s an example:

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Some sellers will require that you have an initial reputation in order to buy from them to avoid scams or fraud. This means that you might have to conduct some small transactions to build your reputation.

Once you went over all of the information and made sure it suits you, just enter how many bitcoins you want to buy and click “Send trade request.”

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It’s crucial to conduct all communications within LocalBitcoins and preferably use their escrow services (which are triggered automatically for all online sales). While this method is relatively fast it may take some time to gain enough reputation and find a seller.

 

VISITE LOCALBITCOIN NOW

 

3. Buy Bitcoin with PayPal through xCoins

xCoins.io (not to be confused with xCoins.com) describes itself as a Bitcoin lending service. Instead of selling you Bitcoins they are loaning you Bitcoins (to an extent). Whether this is actually a loan or a sale is somewhat ambiguous and can be left for interpretation. Here’s how it works:

You (the buyer), come to the site and say you want to “loan” some Bitcoins. After a short ID verification process you will be requested to deposit the USD equivalent of how much you want to borrow + credit card / Paypal processing fees + a fixed amount that acts as the interest rate on the loan.

How to Use xCoins

  1. Sign up to the site
  2. Choose the amount you want to buy
  3. Agree to the loan agreement (see image below)
  4. Verify your identity
  5. Make payment

Since this platform matches lenders with buyers, the fees are relatively high.

image.png

 

VISITE XCOINS.IO NOW

 

4. Buy Bitcoin with PayPal through Paxful

Paxful is the smaller, lesser-known version of LocalBitcoins. It’s a peer-to-peer marketplace that allows you to buy Bitcoin with almost anything (e.g., Skype credits, Amazon gift cards). The process of buying bitcoins at Paxful is pretty simple:

 

How to Use Paxful

  1. Create an account.
  2. Choose a payment method for buying and the desired amount.
  3. Choose your seller. You can either choose manually or let Paxful decide who is the best seller for you.

Once the trade initiates, you will be sent to an online chat with the seller, where you can finalize the deal. The seller’s bitcoins will be sent into escrow, and once you mark that you’ve sent your payment, they will be released into your account. Keep in mind that if you don’t finalize the deal within a certain timeframe (usually 30 minutes), the deal will be automatically canceled.

 

VISITE PAXFUL.COM NOW

 

 

 

 

 

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Pink Panther
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Most of the people know this websites but I guess this can help some beginners. Thanks for sharing this with everyone.

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