One of the biggest questions that we come across around the web is, “How can I buy Bitcoin with Paypal in 2018?” Paypal is one of the most used payment gateways around the world and it might be one of the payment processors that will be offering cryptocurrency services for their customers as well.
If you’re looking to buy Bitcoin with Paypal, then this article is perfect for you. In this article, we’ll go over a few methods that you can use to buy Bitcoin with Paypal. We’ll also go into the pros and cons of each one. That way everyone can invest their spare change that’s in their Paypal account for some Bitcoin!
Virwox is an exchange that allows you to purchase Bitcoin using Paypal. You can’t directly buy Bitcoins with your money on this exchange, but what you can do is purchase their own currency called SLL (Second Life Linden Dollars), This currency is used for one of the biggest virtual worlds today – Second Life.
Because of chargeback risk Virwox is taking on themselves they are limiting the amount you can deposit initially through Paypal. This makes it difficult for you to purchase a big chunk of bitcoin at once.
Another thing that you must be aware of is that VirWox is delaying new user transactions for up to 48 hours. This means that it can take you 2 days to complete this process, still a lot quicker than Coinbase’s bank transfer.
To purchase Bitcoin with Paypal through Virwox, all you need to do is:
1. Go to VirWox’s website
2. Open a free account
3. Fill out our personal details
4. Activate your account
5. Change your password!
6. Fund your account through PayPal – Click on deposit on the left side and choose PayPal Express. Fund the account with how many USD you’d like.
7. Buy SLL with USD Go to Exchange->USD/SLL on the left side. You can also go to any other currency you’d like. Buy SLL (which mean Second Life Lindens) . We will later on exchange these SLL to Bitcoins.
8. Buy BTC with SLL Once you have SLL in your account, go to the BTC/SLL and buy Bitcoins with your SLL.
And there you go, you now successfully purchased BTC with Paypal.
Etoro is another method for you to purchase Bitcoin with Paypal in 2018. The platform will allow you to buy Bitcoins with Paypal but you will not be able to withdraw them or send them to other people. The downside is that you will only be able to sell them for fiat currency (i.e. Dollars, Euros, etc.).
Another thing that you need to be aware of about EToro is that it only works for people that’s living outside of the USA.
This is our least favorite method due to the fact that you can’t really spent your Bitcoins and the lack of flexibility, but it does allow you to buy Bitcoin with Paypal.
Local Bitcoins, unlike Virwox is a marketplace where buyers and sellers meet locally. If you use this option you’ll be dealing with an actual person similar to Craigslist, Offerup, and all those local listing apps/sites.
While you can’t directly purchase Bitcoin with Paypal on their site, you can find someone on the site that’s willing to accept Paypal as a payment.
The good thing is that you will usually get your Bitcoins faster and can use the same person again and again after you’ve built trust.
I’ve personally tried Paxful and had very good success with it, however the fees were quite high at the time.
Paxful is the smaller less known version of LocalBitcoins, except you can do this all through their site instead of meeting up with someone locally. It’s a peer to peer marketplace that allows you to buy Bitcoins with almost anything (e.g. Skype credits, Amazon gift cards). The process of buying Bitcoins at Paxful is pretty straight-forward.
The platform itself is quite straight-forward, but here are the basic steps to buying bitcoin with paypal on Paxful:
- Create an account
2. Choose a payment method for buying and the amount you would like to purchase
3. Choose your seller – You can either choose manually or let Paxful decide who is the best seller for you.
Once the trade initiates you will be sent in to an online chat with the seller where you can finalize the deal. The seller’s Bitcoins will be sent into Escrow and once you mark that you’ve sent your payment they will be released into your account. Keep in mind that if you don’t finalize the deal within a certain timeframe (usually 30 minutes) the deal will be auto-cancelled.
I’ve heard of a few other ways for you to buy Bitcoin with Paypal in 2018, but those are the ones that have been tested to work instantly. I would still recommend the traditional method of buying through Coinbase, then transfer to other exchanges as necessary, but you won’t be able to use Paypal for that.
CryptoMeNow is on a mission to make cryptocurrency easy for everyone to understand.
Our core product is our free daily newsletter where we send you need to know information about cryptocurrency that everyone can understand in less than 3 minutes a day.
Please subscribe to our newsletter and share it with your friends! You can subscribe directly at CryptoMeNow
You can also follow me on Twitter @itswilson8