Buy Bitcoin with PayPal, Here's the Complete Guide!

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Bitcoin is a digital asset created in 2009 by a person or group using the pseudonym Satoshi Nakamoto. Bitcoin uses blockchain technology to record and verify transactions that occur on a decentralized peer-to-peer network. Bitcoin has a value determined by demand and supply in the market, and has a finite amount that can be created.

What is PayPal?

PayPal is an online payment platform that allows users to send and receive money quickly and securely over the internet. PayPal has over 350 million active accounts worldwide and supports over 100 currencies. PayPal also offers a wide range of financial services, such as money transfers, payments for goods and services, and crypto purchases.

How to Buy Bitcoin with PayPal?

Since 2021, PayPal has introduced a crypto service that allows users to buy, sell, and store Bitcoin and several other cryptocurrencies (Ethereum, Litecoin, and Bitcoin Cash) directly through PayPal platform. This is an easy and accessible way to buy BTC for anyone with a PayPal account.

However, there are some limitations and limitations that must be aware of before buying Bitcoin with PayPal. First, users can only buy and sell crypto within PayPal platform, and cannot transfer crypto to external wallets or other platforms. Secondly, users must undergo an identity and tax verification process before they can buy crypto. Third, users have to pay quite high fees for each crypto transaction.

In addition to using PayPal directly, there are also other ways to buy Bitcoin with PayPal, namely through crypto exchanges or peer-to-peer (P2P) marketplaces. Here are the steps for each method.

How to Buy Bitcoin with PayPal through a Crypto Exchange

A crypto exchange is an online platform that allows users to buy and sell crypto with a variety of payment methods, including PayPal. Some popular and reliable crypto exchanges that support PayPal are:

• eToro: eToro is a social trading platform that allows users to invest in a variety of assets, including crypto, stocks, ETFs, and commodities. eToro supports PayPal as a deposit and withdrawal method, and offers unique features such as CopyTrading and CopyPortfolio, which allow users to emulate the strategies and portfolios of professional traders.
• Coinbase: Coinbase is one of the largest and most popular crypto exchanges in the world, offering over 50 cryptocurrencies to trade. Coinbase supports PayPal as a withdrawal method, but not as a deposit method. However, users can use the debit card linked to their PayPal account to buy crypto on Coinbase.
• Crypto.com: Crypto.com is a comprehensive crypto platform, which offers a wide range of services, such as exchanges, wallets, cards, loans, and earnings. Crypto.com supports PayPal as a deposit method, but not as a withdrawal method. Users can buy crypto with PayPal, but will have to pay a 3.5% fee.

To buy Bitcoin with PayPal through a crypto exchange, users must perform the following steps:

1. Create an account at the crypto exchange of your choice and verify your identity if needed.
2. Connect your PayPal account with your crypto exchange account and agree to the terms and conditions.
3. Select the amount you want to deposit or withdraw with PayPal and follow the instructions provided.
4. Once your funds are available in your crypto exchange account, search for the trading pair for BTC and the currency you are using. Enter the amount you want to buy and click the "Buy" or "Trade" button.
5. Your bitcoins will be transferred to your crypto exchange wallet or an external wallet you specify.

Also Read How to Buy Crypto:

How to Buy Bitcoin with PayPal through P2P Markets

P2P marketplaces are online platforms that bring together crypto buyers and sellers directly, without intermediaries. Some popular and reliable P2P marketplaces that support PayPal are:

LocalBitcoins 

LocalBitcoins is one of the oldest and largest P2P marketplaces in the world, offering more than 60 payment methods, including PayPal. LocalBitcoins has a reputation and feedback system that helps users find trusted sellers. LocalBitcoins also provides an escrow service that protects both parties' funds until the transaction is completed.

Paxful 

Paxful is a P2P marketplace similar to LocalBitcoins, offering over 300 payment methods, including PayPal. Paxful also has a reputation and feedback system, as well as an escrow service. Additionally, Paxful offers features such as an affiliate program, a charity program, and a free crypto wallet.

xCoins 

xCoins is a unique P2P marketplace that allows users to buy Bitcoin with PayPal through peer-to-peer loans. In other words, users can borrow Bitcoin from sellers by paying interest and fees. xCoins offers a fast and easy process, as well as 100% buyer protection.

To buy Bitcoin with PayPal through a P2P marketplace, users must follow these steps:

1. Create an account on your chosen P2P marketplace and verify your identity if required.
2. Search for offers that match your preferences, such as amount, price, and payment method. You can also create your own request and wait for sellers to respond.
3. Once you find a suitable offer, click on the "Buy" or "Borrow" button and follow the instructions provided. You may be asked to provide proof of payment or additional information.
4. Once the seller confirms your payment, your Bitcoin will be transferred to your P2P marketplace wallet or an external wallet you specify.

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Advantages and Disadvantages of Buying Bitcoin with PayPal

Buying Bitcoin with PayPal has several advantages and disadvantages that should be considered before deciding which method to use. Here are some of them:

Excess

• PayPal is a well-known and trusted online payment platform, which offers security, convenience, and buyer protection.
• PayPal has a global reach and supports multiple currencies, which makes it easy for users to buy Bitcoin from different countries and regions.
• PayPal has an easy-to-use interface and a fast process, which allows users to buy Bitcoin with just a few clicks.
• PayPal have responsive and professional customer service, which can help users in case of any problems or questions.

Deficiency

• PayPal have fairly high fees for each crypto transaction, which can reduce profits or increase user losses.
• PayPal have limits and limitations to crypto purchases, such as maximum amount, frequency, and duration. PayPal is also not possible

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application. Learn the Complete Guide on How to Buy Crypto on Bittime.

Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

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DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.