We offer you to buy bitcoin via PayPal with steps, as this bank is one of the most popular electronic banks in the money market and online shopping.
Buy Bitcoin with PayPal
There are many reliable ways to buy bitcoin through PayPal, and among the most important and best of these are the following:
Binance P2P
Binance is the largest and most reliable cryptocurrency exchange in the world, and we recommend it if you want to buy Bitcoin with PayPal.
The platform offers a free (P2P) service, where people can buy and sell Bitcoin and other digital currencies from each other without having to do so.
In addition, the platform guarantees the rights of both parties (the seller and the buyer), by reserving the digital currencies for the person who wants to sell them.
All you have to do is register on the Binance platform and confirm your identity, then go to the (P2P) service and find offers to sell bitcoin for PayPal.
Pay attention to the price as it will be a good percentage higher than the price in the market, choose what suits you and transfer the amount to the person who will transfer the bitcoin to your Binance account.
LocalBitcoins
It's a popular way lately to buy bitcoins via PayPal, but we don't recommend using this platform because the transfer fees are much higher compared to virwox.
LocalBitcoins is a system based on direct purchase from people without an intermediary. And as the circumstances in it differ from person to person, this means the possibility of falling into a scam.
Therefore it is necessary to be very careful when choosing the people to deal with.
Here are the steps to buy Bitcoin with PayPal via LocalBitcoins:
The official website of the platform is entered to create an account by clicking on the page link.
The user searches for the bitcoin to buy, with the need to choose PayPal as the payment method.
Once the appropriate ad is found, the buy button is pressed to read the terms and check the status of the seller. With the need to confirm his account and comments by clicking on his name.
When someone is found willing to sell bitcoin on the right terms, an exchange request is sent by specifying the amount spent and writing an optional message.
Wirex
It is a service platform that provides virtual and plastic cards for Bitcoin withdrawal, with the ability to purchase these cards with money via PayPal.
Here are the steps to buy Bitcoin via PayPal via Wirex :
- The user goes to the Wirex , registers and requests a new card.
- The card is also credited to the PayPal account, with the account required to be at least $3, for PayPal to charge the fee.
- The money is deposited into the Paypal account, then the user transfers the money from Paypal to the Wirex account.
As we explained before, there are many platforms that support the purchase of bitcoin through the most famous electronic bank, PayPal, of these platforms:
Paxful
It is a direct buy platform among traders, which is less popular than other platforms.
To complete the purchase, you must first register with it. Then choose PayPal as the payment method, search for sellers and complete the transaction, like the rest of the platforms mentioned above.
Xcoins
It is a peer-to-peer platform for Bitcoin lenders and borrowers. PayPal is also accepted as a payment method for individuals who want to access a secured Bitcoin loan.
Cryptonit platform
It is a less popular exchange platform, which allows people to buy Bitcoin and other cryptocurrencies using PayPal, credit cards and other payment methods.
The platform also imposed on users some measures, as follows:
Submit a copy of your personal identification.
Submit a copy of the invoice or lease agreement.
In the event that the user does not wish to complete the previous procedures. The user must agree to video chat via Skype to verify the actual identity of the user and verify certain information.
Once these steps are completed, the platform is traded and the funds are received. The most important advantage of this platform is that its fees are relatively low compared to other platforms.
Advantages of buying bitcoin with PayPal
- The process of buying bitcoin via PayPal as a payment method has many advantages, and these advantages are as follows:
- The payment process is quick and convenient if the user already has a PayPal account.
- Safe and reliable payment method.
- This method allows you to buy bitcoins with US dollars.
- PayPal is known to be one of the most reliable electronic banks around the world.
Disadvantages of buying cryptocurrency via PayPal
Despite the previously mentioned advantages of buying Bitcoin with PayPal, this method has some disadvantages that cannot be overlooked, and these disadvantages are as follows:
- The purchase process fee is very high and the user is very expensive.
- If the platform refuses to pay in US dollars, the user will be charged a transfer fee.
- Few sites accept payment with PayPal.
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