Last updated on January 10, 2020
Paypal is one of the most popular online payment methods worldwide that is used for many cases such as send money online, payment method for online e-commerce stores, a method to accepting donations for content makers, etc. A lot of people are looking to buy bitcoin with PayPal but there are few legit best ways to buy bitcoin with PayPal nowadays. In this article, I will show you 4 possible methods that exist in the current market to buy Bitcoin with Paypal legit way.
Summary of 4 best ways to buy Bitcoin with PayPal
Why are people looking to buy Bitcoin with PayPal
A major reason is people are having Paypal account with fiat money( Fiat money is traditional currency such as USD, EUR, etc) but major cryptocurrency brokers does not supports the PayPal as a payment method, therefore, buying bitcoins with PayPal is not easy. Paypal has not supported the cryptocurrency because cryptocurrency or Bitcoin is a very volatile asset and still cryptocurrency industry has no regulated environment.
But there are few legit services are available for buying Bitcoins with Paypal.
Is it difficult to buy Bitcoin with PayPal, yes but there is not hard as it is, let’s dive into the buying bitcoins with PayPal right way?
Importance facts to consider using the PayPal
Trustworthy and legitimacy
Chosen service should be trusted and reputable history. In this article will consist of details about the fact is mentioned.
Fees are charged for a single transaction
The fees are charging for these services are a little crazy and here explains fee with example and comparison will be provided. Then you can select a better and suitable service to buy Bitcoin with PayPal right way.
Some of the services are not supported worldwide because regulations are different from country to country therefore, it will mention here in detail.
4 Best possible legit ways to buy Bitcoin with PayPal
LocalBitcoin is peer to peer bitcoin exchange where People can buy and sell bitcoin with Paypal and various alternative methods such as Skrill, Payza, Wire transfers, Using Cash, etc. LocalBitcoin based on Findland and founded in 2012 which has reputable history and trustworthy among the cryptocurrency community.
LocalBitcoin supports a lot of countries and anyone can become the Bitocin buyer or Bitcoin seller through this platform where the Bitcoin exchange rate decides the buyer or seller.
Exchange supports the local currency and users can deal with their local currency. Every transaction goes through the Localbitcoin escrow service to protect the community from being avoided frauds and scammers of the platform.
What are the fees charged?
Registering the website, bitcoin buying and selling completely free.
If you want to create an advertisement for your trade such as buy ad or sell an ad, you need to pay 1% of your trade transactions through that advertisement. Let’s consider the example,
You create an advertisement for selling of 0.5BTC. Think your trade accept some buyer and transaction is done. For this trade, LocalBitcoin will charge 0.005BTC from the seller. If you create a Buy bitcoin advertisement the same charge will apply.
LocalBitcoin wallet to Localbitcoin wallet transferring fund is completely free and the LocalBitcoin wallet to another external Bitcoin wallet charges the standard Bitcoin network fee which is determined by the Bitcoin network congestion at the time transferring.
Major steps to buy Bitcoin with Paypal on LocalBitcoin
Let’s go to the LocalBitcoin, Click on the “Sign up free” button top right corner of the top menu.
Then you will direct to register a new account, fill the available fields. Then click the “Register” button. Then the popup screen will appear, read the terms of service and scroll down to the bottom and click the “I agree” button. Then Privacy and Policy screen will appear, then read that and click “I agree” button.
Then you will see the email verification window, you should go to your mailbox and click on the sent link by the LocalBitcoin. After that, LocalBitcoin will ask to fill your profile information. Then fill the details correctly. Then click the “Submit” button.
Then you will see the phone verification screen where you need to enter your phone number and click the “Submit” button. Then you will receive the 8 digit number and type it under the “Verification code” field on the next screen. Then click the “Submit’ button.
This stage you are almost done the registration process.
Now you can buy Bitcoin with PayPal right way, let’s click the “Quick Buy” tab of the main page or click “buy Bitcoins” tab of the main menu.
Now you are in the online offers section, you can adjust the search options. Then type amount accordance with your currency, select the currency, select the country, then select the payment methods as PayPal from the “All online offers” then click the “Search” button.
Now you will see a bunch of offers available. Select the offer according to your rate and click the “Buy” button. Find the price of Bitcoin using Coinmarketcap website.
On the next screen, you will see “ buy Bitcoins using PayPal with US dollar” page.
You can see the price of Bitcoin, Payment Method, User profile link and reputation, Trade limits, Payment window which means you should complete the payment within the stated time, Payment location, etc.
Also, you can find the seller’s terms of the trade right side of the page.
Before putting the Send trade request, please check these facts,
- Check reputation viewing the seller’s profile
- Check trade limits
- Payment methods
- Trade terms of the Bitcoin seller.
If you are satisfied with the Bitcoin seller, select the amount of Bitcoin you want to buy, then type the message and other trade information to the seller. Then click the “Send trade request” button.
Then you will “Success” message of the order. This stage you can discuss the trade with the seller using live chat function of the Localbitcoin.
If you want to cancel the trade this stage, you can cancel through “Resolving trade issues”.
After that step, you need to fulfill the requirement asked by the seller, make your PayPal payment for the seller, etc. after completing above steps, Localbitcoin escrow will release your Bitcoin for your LocalBitcoin wallet, where the time of fund releasing depends on seller activeness, your performance, and Bitcoin network status.
- Low fees compared with Paxful and xCoin
- The website provides high security with 2FA authentication
- Bunch of deposit and withdrawal methods
- Escrow service for community protection
- Poor customer support
- Few countries not support
Paxful is also, peer to peer Bitcoin exchange which supports more than 300 payment methods including Paypal, Credit/debit card, Wire transfer many more.
What are the fees charged?
Paxful does not charge any fee who are buying Bitcoin from the Paxful.
When you buying Bitcoin from another customer, Paxful will charge some fee for that transaction where the fee will depend on trade size, the currency used, customer’s verification status.
Paxful will charge fees who are selling the Bitcoin where fee depends on the seller’s accepted payment method.
Transferring funds from Paxfull wallet to another Paxfull wallet free of charge for the first 5 transactions sent per month and then It will charge 1$ for each transaction.
Transfering Paxful wallet to external Bitcoin wallet, Paxfull will charge 0.0005BTC per each transaction where the charge will be reduced from the available wallet balance before a transaction is done.
Major steps to buy Bitcoin with PayPal on Paxful
Let’s go to the Paxful website and click on the “Create Account” tab of the main menu. Then the “Create new account” screen will appear.
Then you will direct to the dashboard of the Paxful.
Then click the “Buy bitcoin” tab of the menu and select buy bitcoin from the drop-down.
You can search available offers using search filters. Type amount, select a currency, Select the payment method as Paypal and click the search button. Then you will see “Open offers for Paypal”.
Before selecting the seller, check these facts
- Seller reputation
- Offer terms of the seller
- Trade limits
- Past customer reviews
After that, click the buy button in accordance with a required rate per Bitcoin. As you can see the best rate available in the first offer of the search result.
Then you will direct “BUY BITCOINS WITH PAYPAL FOR US DOLLARS (USD) ” page. Next, type the amount and click “ Buy Now”.
After Paxful may ask you to verify your ID, Phone, etc because the seller wants that information to complete the trade.
If you do not ask the above details, you can go further with the trade and you can chat with the seller and make payment through PayPal. If you do that successfully you will receive the ordered amount of Bitcoin from the Paxful escrow service.
- Worldwide support and few countries not supported
- Bunch of payment options including PayPal, Credit/debit card, Wire transfer
- Escrow service for community protection
- Good customer support
- Limitations to buy Bitcoin
xCoins is an instant Bitcoin buying platform using Paypal and xCoins accept methods such as Credit/debit card, Wire transfer where lenders give the Bitcoin with the best rate and always lenders compete for among others to give the best rate for Bitcoin buyers or called borrowers in the platform.
Mainly xCoins serve the US Bitcoin buyers and few countries and xCoins based in Santa Monica US.
Lenders of the platform give loans to the Bitcoin buyers(Borrowers) agreed on the rate provided by the lender and Payment directly goes to the lender’s Paypal account.
What are the xCoins fees
Borrowers or Bitcoin buyers need to pay fees such as Paypal processing fee which is 2.9% + $0.3, xCoins commissions as loan origination fee which is 5% or higher depends on lender volume, Bitcoin network fee which is 0.00025BTC, etc. where these fees are not mentioned on the website clearly and it will depend on the market condition.
xCoin will not charge any fee from the platform’s lenders.
Altogether xCoins is not cheap as Paxful and Localbitcoin websites for Buy Bitcoin for Paypal
Major steps to buy Bitcoin with Paypal on xCoins
Let’s go to the xCoins website and click the “Sign Up” button top right corner of the main menu.
Then you can promotional code screen and type it on the field. If you don’t know one, then click the “Continue”
Next screen, select strengthen password and click the “Continue” button.
Next screen, select your country and click the “Continue” button.
Next screen, you need to enter your phone number and click “Continue” button. Then xCoin will send 6 digit code. Enter the code on the confirmation field on the next screen. Then click the “Continue” button.
In the next screen, select Two-factor authentication methods. Select the method as “Telephone” and click the “Continue” button.
Then you will direct to the main dashboard of the platform.
Now you are ready to buy Bitcoin with PayPal, let’s click the “Get Bitcoin” tab in the top left corner of the main menu.
Next screen, type amount of Bitcoin wants to buy, then clicks the “Get Bitcoin” button.
Then you will direct to lender found the page. Here you can see all the fees and amount you need to pay for that amount of Bitcoin.
Then, agree to the loan agreement and Click the “Continue” button.
On the next screen, you will ask to verify your ID because you are the first time user of the platform.
On the next two screens, upload the required file and click the “Continue” button.
After verifying the account, you can buy Bitcoin from that transaction using PayPal secure portal.
- Major payment methods support such as credit/debit card, Paypal, wire transfer accepted
- Good customer support
- Few countries support
- Sometimes it will take more time to receive the Bitcoin
- High fees
eToro is a social copy trading platform that supports the many asset trading such as stocks, bitcoin, CFD’s, etc.
You can buy Bitcoin with Paypal but actually, you can’t send Bitcoin from this website to a personal Bitcoin wallet.
Only it can use for buy and sell bitcoin and get profit through price fluctuation.
Major steps to buy Bitcoin with Paypal on eToro
Let’s go to the eToro website and click the “Join Now” button in the middle of the page.
Then you will direct to the main dashboard of the website. Here you should complete the profile such as account verification.
Click the “Deposit fund” in the bottom left corner of the main dashboard. Then you should select the payment method, amount of deposit and click “Submit” button. If your account is verified, you will direct to secure PayPal portal to complete the deposit.
After that, go to the main dashboard, under my watchlist left the side of the dashboard, scroll down and click BTC bar.
Then you will see the Bitcoin asset page, click the “Trade” button right side of the page.
Then the popup screen will appear and select the “Buy” tab from two tabs. Also, there are trade and order tabs, select the trade tab.
Here you can see the SL tab which is an option to avoid loss of the entire fund you are using for a particular trade. As an example you buy bitcoin at 10000$ per Bitcoin, you assume Bitcoin price will go higher, But bitcoin price goes to down the 10000$, Here you will lose the entire balance If you do not set SL. Here you can set 9900$ SL this trade.
Leverage trading not suitable for beginner, please keep default 1X leverage.
Take a profit is the closing price of your trade.
- Reputed exchange and broker
- A lot of cryptocurrencies can buy
- Good customer support
- You can copy the trades from the other professional traders
- Bitcoin withdrawal option is not available
How to buy Bitcoin with Skrill
There are a few more ways to buy Bitcoin which is using VirWox, Localbitcoin, Paxful, Bitpanda, and Skrill website. In the skrill website, actually, you can’t withdraw the bitcoin from skrill to your personal websites.
How to convert Bitcoin to Paypal
You can sell bitcoin to Paypal in Localbitcoin, Paxful, and xCoins lender programs.
How to buy Ethereum with Paypal
You can buy Ethereum for Paypal using LocalEthereum website which closely similar to LocalBitcoin website.
Best Bitcoin wallets in 2019
If you are buying bitcoin you need to choose the best bitcoin wallet which is a secure, updated and popular wallet. Let’s find your wallet according to your requirements. If you have more than 500$, you can buy the most secure hardware wallet.
|Trezor||Hardware||69 EUR and 149 EUR||Yes||Visit|
|Ledger||Hardware||59 USD and 119 USD||Yes||Visit|
|Bitpay||Software and Mobile||Free||BTC, BCH||Visit|
Conclusion- 4 best ways to buy Bitcoin with PayPal
Buying bitcoins with Paypal is not easy because Paypal does not support the Bitcoin. In this case, there are still a few legit services that exist which are Localbitcoin, Paxful, xCoins, and eToro. This guide explains these service’s features, fees, pros and cons of using services.