A lot of people would like to get their hands on cryptocurrencies without going through the herculean task of series of verifications, accounts on exchanges or any other hectic process. Some people would prefer to simply acquire bitcoins by using Paypal, assuming that it might be a more convenient solution.
However this is not possible since bitcoins cannot be directly purchased using PayPal (Except Localbitcoin), but there are some ways, albeit indirectly, to still achieve your goal of buying bitcoins via PayPal. Although this might seem a little bit complex at first sight, if you follow our step by step guide, you will discover the whole process is in fact quite straightforward.
Here are a couple of platforms where you can purchase cryptocurrency from using Paypal as the payment method.
This is only platform to date where you can purchase bitcoin using PayPal directly. However, caution must be applied to the letter while sourcing for sellers, to avoid your fund falling into the wrong hands or tricksters. Prioritize sellers with good review and reputation over those offering really low rate. Filter those sellers that offers to sells Bitcoin using Paypal by using the drop-down menu as shown
You will then be shown a list of sellers that fit your specified criterias. Clicking on the seller name will provide you with an overview of his/her trade history, go for those sellers with a great feedback score and have performed a considerable amount of trades.
This is one of the most secure way for anyone who wants to buy bitcoins using PayPal on a regular basis. In the first instance, this approach will take 24-48 hours, after that, subsequent purchasing can be done instantly. Below is a step by step approach to apply when using this method to buy bitcoins:
- First, you are required to create a Wirex account.
- After setting up and verification of your Wirex account, you will be issued a free virtual VISA card. Or you can demand a physical VISA card, though the fastest way is the virtual VISA card, so our focus will be on it.
- Then fund your virtual VISA card with $3 to get started. Then you can add the card to your PayPal account by login in to your PayPal account, go to the ‘Money’ button and click on it, then also go to the ‘add a card’ button and click on it. PayPal will require you to confirm the new card. To confirm, click on the ‘confirm my card’ and wait for the system to run a series of command to verify your new card. At this point, the $3 you funded your account with will be used, but it will be reversed later in the future. This is the standard procedure in PayPal to verify an account. Finally, it will request for a PayPal code.
- Now go back to your wireapp account, you will find the confirmation code under the transaction, use the code to verify your debit card. Upon doing that, a short message will be sent to you saying “ you've successfully confirmed your card.” Then click on the close.
- To start purchasing bitcoins with your PayPal account, simply withdraw money from your PayPal account that is linked with the wireapp debit card. This process usually takes between 1-7 days for funds to be transferred to your linked card. After this is done, you can now use wireapp interface to purchase bitcoins.
This remains one of the best ways for people wanting to purchase bitcoins using Paypal , especially at the market rate, as other methods may cost you extra to purchase bitcoins. However, this option is only opened to the following countries: Bahamas, Bahrain, Botswana, Bulgaria, Chile, Croatia, Estonia, Georgia, Gibraltar, Honduras, Iceland, Indonesia, Italy, Jordan, Kazakhstan, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg Malaysia, Malta, Mauritius, Moldova, Morocco, Mozambique, Oman, Philippines, Romania, San Marino, Saudi Arabia, Senegal, Serbia, Slovenia, United Arab Emirates and Uruguay. They can use their wireapp to get a free virtual debit card (Powered by VISA), and subsequently use it to purchase bitcoins using PayPal money.
Another very popular method of purchasing bitcoins using PayPal is through Paxful. Paxful works quite simlarly like LocalBitcoin ( peer to peer exchange ) but features a much more intuitive interface and not to mention more than 300 ways that you could purchase Bitcoin.
To be able to make a purchase using Paypal in Paxful, first, you need a verified PayPal account (In the USA especially). Agents and vendors will ask for ID from you before accepting your PayPal. Some of them accept payment without verification as well but beware.Through the use of escrow services, additional security is provided for buyers.
In order to purchase Bitcoin using VirWox, you have to visit VirWox and create an account after filling in all required data and receiving confirmation from your email. Then deposit into your VirWox account through PayPal. When this is done, you will have an option of exchanging your balances for second Life Lindens (SLL). You will be able to exchange SLL for Bitcoin subsequently.
Please note that VirWox charges a 10 percent fee for each transaction by its users using PayPal. Upon purchasing bitcoins through VirWox, it is advised that you transfer your bitcoins to your wallet for to ensure the safety of your fund.
In a nutshell, there are plenty of ways out there to purchase bitcoin or any other cryptocurrency of your choice using Paypal. We, however, do not really recommend it if you are trying to get Bitcoin at a great rate. Good rate on peer to peer exchange platform like Localbitcoin and Paxful is quite hard to come by according to our personal experience. The offered rate is typically much higher than the market rate. If you are trying to get Bitcoin or other cryptocurrencies instantly and are open to other options, we would recommend purchasing via your debit/credit card. As a matter of fact, you can do it via the changelly widget embedded below. How convenient! <img class="emoji fr-fic fr-dii" alt=" ( Disclosure: we get commission off a fraction of your trade fee, if you feel like supporting what we are doing and make a purchase using the link below, we would be thrilled ) However, if you are an active trader or plan to be one, we recommend you to sign up on an exchange like Binance to get the best rate.