Do you only have Paypal and finding a way to buy Bitcoin using Paypal? We all know PayPal is the most commonly used payment method around the world and is making its payment relation strong with the market of Bitcoin. But it’s not easy to buy bitcoins through Paypal directly. Luckily, you don’t need to worry as we have an easy way to convert your Paypal into Bitcoin.
It’s hard and confusing but we will show you the easy and best way to buy bitcoin using Paypal. Here in this article, we will share the most reliable & trusted exchange sites that will help you to convert Paypal to bitcoin. Below are the exchanges you can trust on. So read on to learn about all exchanges.
3 Best Exchanges to Buy Bitcoin with PayPal
One of the oldest and most popular peer-to-peer exchange site that was launched back in 2012. It is a network of face-to-face in-person trading that is totally secure. If you are a buyer, you can choose any seller listed on the site who is selling bitcoin. You can even meet the buyer for a secure trading. You can choose multiple payment methods while buying or selling, Paypal is also available that makes your buying easier.
LocalBitcoin also offers in-person trading, it is a trustworthy and reliable option to go with. So how to work on Localbitcoin? Let me explain it. First signup and then choose any seller from the list, add PayPal as a payment method, it will show only sellers who accept Paypal. Now after you select a seller, you will be landed on a page where it will ask how many bitcoins you want. Some sellers may ask for ID verification along with phone number verification.
As a buyer, you should check the seller’s trading history and feedback of his clients. There are no fees of Localbitcoin for the buyer and the only seller will pay 1% fees. However, the bitcoin network fees will be applied per transaction.
Related: Bitcoin Investing: How to Do It Right?
Paxful is a US-based peer-to-peer exchange launched back in 2015 as a decentralized exchange. It offers different online payment methods to its users. The exchange system and look are similar to eBay, where it acts as a mediator for traders. It is an excellent escrow service that offers secure and easy to buy cryptocurrencies including bitcoin.
The site offers various payment modes including cash deposits, credit/debit cards, national bank transfers, Moneygram, Western Union, Gift cards, and Paypal. You need to follow the below steps to buy bitcoin using Paypal.
First, register yourself with your email address. Once registered, you will see an easy to understand interface with a window that shows options of amount, types of payment method, local currency to purchase Bitcoins. You can select any seller from the list or you can ask Paxful to select one for you. Once you select a seller, you will be redirected to the chat page where you can negotiate with the seller.
The best thing about Paxful is they held the bitcoin in escrow from seller and then buyer has to pay the amount and click on ‘paid’. Then the seller will confirm is the payment received or not. Once the seller confirm, they release the bitcoin from escrow. Paxful also doesn’t charge fees from the buyer but charge from the seller.
The last trusted exchange is Wirex also known as E-Coin that supports both fiat and cryptocurrencies. Wirex is a debit card that integrates the banking system and traditional money. The company was launched back in 2015 in London with start support of three fiat currencies US dollars, Pound sterling, and Euro. Wirex has a simple easy to use and understand interface.
You can buy bitcoin with PayPal from Wirex. The method is given below:
First you have to create a card on Wirex by clicking on “generate new card”. Next, you have to link your Wirex card with the Paypal account and verify it. Now to verify, you have to deposit $3 to your PayPal account. On your Wirex account, you will see 4-digit PIN next to your transaction, that is the verification PIN of your card. First you have to deposit the funds in your Paypal account and then can withdraw your funds from Paypal to Wirex account. Finally, you can buy bitcoins from your Wirex card. The Wirex charges fees not on the creation of card and adding card holder’s name but if you order physical card via DHL, Wirex will charge $50-$70 via Royal Mail. However, no fees will be charged on transaction.