Crypto

5 ways to buy bitcoins with PayPal – questionable

If you want to buy bitcoins, there are many ways that you can use on a wide variety of platforms. If you especially like PayPal, there are ways to get BTC with this world famous payment processor. So let’s see where and how you can buy bitcoins with PayPal.

1. PayPal app

If you don’t want to download a separate cryptocurrency app or open a new exchange account to buy bitcoins, you can do so through the official PayPal app or on the PayPal website. Please note that the ability to buy bitcoins with PayPal may vary depending on your location.

If you’re using the PayPal app, go to the Finance section at the bottom of the screen. There you will see the option to buy bitcoins. You can then view the current price of bitcoin and its fluctuation between the previous day and its launch in 2009. PayPal also provides a brief explanation of what Bitcoin is and how it works.

You can either choose one of the suggested amounts when buying bitcoins with PayPal, or enter your desired amount manually.

Please note that PayPal will likely ask you to verify your US tax status before purchasing bitcoins. But don’t worry if you’re not a US citizen or taxpayer: you can still buy bitcoins through the PayPal app if you live elsewhere. PayPal will then offer you several risks that you should take into account before proceeding with your purchase.

PayPal also allows users to buy Bitcoin Cash, Litecoin and Ethereum.

2. Coinbase

coinbase logo on smartphone Image credit: sdx15/Shutterstock

Coinbase is one of the most popular crypto exchanges, so it’s no surprise that you can buy bitcoins with PayPal on this platform.

In order to buy bitcoins on Coinbase, you need to create an account. It also requires you to verify your identity so that Coinbase knows exactly who you are. Many reputable exchanges follow KYC (Know Your Customer) guidelines, which require financial services to verify the identity of all their users to better protect against fraud, money laundering and other financial crimes. You can use your passport, driver’s license, or similar document to verify your identity on Coinbase, and the process often doesn’t take too long.

It’s also worth noting that you’ll need to go to your settings to add PayPal as your new payment method before you can buy bitcoins. To do this, go to Settings > Payment Methods > Add Payment Method > PayPal.

Once you have linked your PayPal and Coinbase accounts, you can quickly and easily buy bitcoins by visiting the company’s website. Buy and sell at the top of the page. The window will allow you to select the type of cryptocurrency you want to buy and the desired amount.

3. Bit stamps

a photo of the BitStamp app icon on the screen Image Credit: Ivan Radic/Flickr

Bitstamp is another well-known crypto exchange based in Luxembourg. Bitstamp allows you to buy Bitcoin (and a range of other cryptocurrencies) with PayPal, but there are a few preliminary steps that need to be completed. First, as with any exchange, you must create an account and verify your identity on Bitstamp before making any transactions.

After completing these steps, you will need to add a payment method.

First, click on the account avatar logo in the upper right corner of the web page, then go to “Settings”. From there, go to the “Payment Methods” section and click on “Deposit”. Here you can select “Buy with PayPal”. You can also click on the Direct Buy Cryptocurrency icon. Ability to buy bitcoins with PayPal.

4. CEX.io

cex.io logo next to a stack of bitcoins Logo provided by: Helldanova/Wikimedia Commons.

CEX.io is a London-based cryptocurrency exchange available in a number of countries around the world. Using CEX.io, you can buy a wide range of cryptocurrencies, including Bitcoin, using your PayPal account.

As you may have guessed by now, you will need to create a CEX.io account and verify your identity before making any purchases. But once you do, the process is pretty simple. First, go to your wallet and click the “Buy” button. Then, in the Alternative Payments section, click PayPal. From here, you will be able to select the amount of bitcoins you wish to purchase using your PayPal account.

5.iToro

etoro stock exchange logo on computer screen Image credit: Marco Wertsch/Flickr

eToro started out as a traditional exchange, but in 2014, seven years after its inception, it began using cryptocurrencies. Using eToro, you can buy bitcoins with PayPal.

First, create an eToro account and verify your identity. Next, go to your account page. Here you will need to deposit crypto using PayPal, as eToro does not allow instant payments. You can link your PayPal account by clicking the “Deposit” icon and then “PayPal Options”.

Once you have deposited some money into your eToro account, you can easily buy bitcoins by clicking on the eToro icon. Cryptocurrencies on the main page or by searching for bitcoins in the search bar.

6. Local bitcoins

Screenshot of LocalBitcoins website homepage

LocalBitcoins is a peer-to-peer (P2P) exchange that facilitates bitcoin trading. This platform works a little differently than the other platforms listed here because you are buying bitcoins directly from another user and not from the exchange itself. Think of using LocalBitcoins like eBay since you are dealing directly with the seller.

Some merchants on LocalBitcoins accept PayPal as a payment method, some do not. If you go to Buy Bitcoin with PayPal on LocalBitcoins, you will find a list of merchants that accept PayPal.

After creating an account and verifying your identity, you can buy cryptocurrencies from LocalBitcoins. Select the user you want to buy from, then enter the amount you want to buy. Make sure to pay attention to various seller factors, including typical response time, number of past transactions, transaction limit, bitcoin price, and review score. This will allow you to make sure that you are not dealing with an unreliable, absent or unprofessional seller.

Buying Bitcoin with PayPal couldn’t be easier

PayPal is currently a widely accepted payment method in the cryptocurrency industry, so there are many platforms to choose from if you want to use this method to buy bitcoins. If you want to make buying cryptocurrencies easier with the world’s most popular payment processor, consider one of the reputable services above.

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