If you want to buy Bitcoin with PayPal you first need to find a reliable trading platform or peer-to-peer marketplace that offers the option to use PayPal as payment method to make a deposit and buy Bitcoin. Some popular examples of such trading platforms and peer-to-peer marketplaces include Etoro, Paxful and LocalBitcoins.
How to buy Bitcoin with PayPal
PayPal is one of the most popular platforms that enable you to pay, send money, and accept payments across the globe. In recent years, PayPal has also become a popular method for buying Bitcoin online. While it is not possible to buy Bitcoin directly on the PayPal platform, it is possible to make use of trading platforms or person-to-person marketplaces to buy Bitcoin using PayPal.
In this article we will provide you with a step-by-step guide to buy Bitcoin with PayPal using 3 of the most popular platforms that are currently available. Namely, Etoro, Paxful, and LocalBitcoins. Let’s dive right into it.
- Visit Etoro.com
- Click on Join Now to create your account
- Verify your Etoro account and have your multi-factor authentication enabled
- Enter your account
- Click on Deposit and thereafter on Deposit Funds
- Select PayPal in the payment methods
- Select the currency and amount that you want to deposit
- Verify that all details are correct and click on Pay
- Once your funds are available in your Etoro account, visit the trading page to select your market limit order and choose the amount of Bitcoin that you want to buy
Trading on this platform does have one disadvantage, and that is that once you’ve bought Bitcoin with PayPal on Etoro, you won’t be able to withdraw Bitcoin to your wallet or send them to other people. You can only exchange your Bitcoin into a fiat equivalent, which can then be withdrawn.
- Visit PaxFul.com
- Click on Get Started and thereafter on Create Account
- Verify your Paxful account
- Click on Buy Bitcoin and search for PayPal
- Select a vendor to start trading with
- Complete the trading terms
- Send your Paxful wallet address and receive your Bitcoins
If you decide to use Paxful to buy Bitcoin with PayPal, do take into account that because of its peer-to-peer nature, buyers and sellers alike are at risk of being scammed.
- Visit LocalBitcoins.com
- Click on Sign Up Free to create your account
- Verify your LocalBitcoins account
- Enter your search parameters and select PayPal as the payment method
- Find a seller
- Buy Bitcoin using your PayPal balance
- Provide your Bitcoin wallet address
- Receive your Bitcoins
As with Paxful, the same precautions should be taken on LocalBitcoins to make sure that you find a reputable and reliable seller to minimize the risk of being scammed.
Other popular payment methods
How about buying Bitcoin in other ways? There are several other popular payment methods that you can have at your disposal to buy Bitcoin online. For example, with Bitcaribe, a reliable and convenient platform, you can also buy Bitcoin using your credit card, debit card, or even Apple Pay balance in less than 1 minute.
So, we hope that our step-by-step guide for buying Bitcoin with PayPal has provided you with more clarity on how you can make your next Bitcoin purchase. If you have any questions, don’t hesitate to contact us.