Did you face challenges when it came to buy Bitcoin with PayPal? Of course you did. And so did I. Bitcoin may be the most popular cryptocurrency, but for some it is not easily accessible. When you want to make your entry in to the Bitcoin world, you look at your existing buying options. For me one option was PayPal, the world’s most popular online payment system. But it was not and still is not easy to buy Bitcoin using PayPal.
Why can you not buy Bitcoin with PayPal
Well the answer is simple, its because PayPal does not support Bitcoin. It treats Bitcoins like anyone would treat a competitor.
Whosoever tells you that this is an instant process, may be hiding something. Buying Bitcoin via PayPal is not not instant. If you like to get the coins instantly, you should try to find some good cryptocurrency exchanges.
However, lets go through some of the options in which you can get your hands on some Bitcoins (virtually) using PayPal.
Buy from xCoins.io – Step by Step Guide
xCoins.io (affiliate link) claims to be a fast way to purchase Bitcoins using PayPal. xCoins.io is a fully automated and a peer-to-peer marketplace. What this means is that you buy Bitcoins from another user of the site. xCoins.io acts as a facilitator.
- Sign Up
- Login for the 1st time
- Get Bitcoin
- Receive Bitcoins
- Open an account:
- IMPORTANT!!! Change the password!
- Fund this account via PayPal:
- Purchase SLL using USD:
- Purchase Bitcoins with SLL:
- Withdraw your Bitcoins:
Sign up to get an account with xCoins.io to kick-start the process. This procedure only takes a few minutes.
When you login for the 1st time, you will need to select your country and a telephone number for 2 factor authentication. Enter the confirmation code and you are set.
Specify the Bitcoin amount you wish and subsequently make payments using the payment method you prefer. In this case choose PayPal. You can also choose to pay by Credit Card to buy Bitcoin.
The claim is that your first transaction will take a few minutes. The subsequent transactions will be instant. You will receive your Bitcoins in your personal xCoins wallet. You can then spend the Bitcoin on whatever you like.
Buy from VirWoX – Step by Step Guide
VirWoX is the leading exchange for virtual currency trading both by virtual of user numbers (approximately 800,000) and the trading volume US $ 38 million. Virtual World eXchange, VirWoX is an Austria-based exchange that specialises in SecondLife Lindens, a currency used in SecondLife virtual world. Lately there have been some complaints from users that try to transfer BTC to their BTC wallet.
To purchase Bitcoin with PayPal, use the following process:
Click the tab ‘Not registered yet’ on the left-placed sidebar to create an account. Key in your Username and your Email Address. Ensure you have filled out all the relevant personal information then click on ‘Register’. On clicking ‘Register’ you will then receive a special email confirmation that contains your password. Open this email, copy that password and then log in back to VirWox.
After clicking on the exclusive confirmation link, it is recommended that immediately change this password because it will serve as the platform for transferring your funds.
Click the deposit in the platform’s left side then select PayPal Express. Fund this account with as much money as you would like.
Note: From now going forward, each transaction that you conduct will come at a fee-ensure that you are conversant with the pertinent withdrawal and deposit fees.
Go to the Exchange then to USD/SLL as appears on the left tab side. You are also at liberty to use any currency you prefer. Purchase SLL (standing for Second Life Lindens). Later, you can exchange the SLL for Bitcoins. This is only possible if you have made a deposit into your account.
Once your account is deposited with SLL, go to BTC/SLL section and purchase your preferred amount of Bitcoins.
Note: At times, VirWox may require an exclusive manual review after this particular step. This can stretch as far as 48 hours although it normally takes about 6 hours.
Select ‘Withdraw’ on your left side then send your Bitcoins to your currency wallet.
Buy from Paxful – Step by Step Guide
Paxful is an exchange which links individuals and investors who are looking to trade Bitcoin for national currencies such as US dollar, Euro and such. Paxful is a bitcoin marketplace where you buy bitcoins from other sellers. Among the major reasons that make Paxful a popular choice for the exchange of Bitcoins is its diverse payment methods that it accepts. They include:
- Amazon Gift Card.
- The Western Union.
- All Debit & Credit Cards.
- OneVanilla Gift Card.
To purchase Bitcoins, the process is very simple when using Paxful:
- Create a Paxful Account
- Choose to Buy Bitcoin
- Choose a seller
Its easy to create a Paxful account. You need to enter your email and choose a password. Login to Paxful with your credentials.
From the menu option to buy Bitcoin, choose PayPal and enter the amount you want. You can let Paxful choose the best option for you or find the best yourself. You will be shown a list of sellers and their rates.
Read the terms that the seller has provided. Then you can hit the green button to Buy Now. This will take you to chat channel with the seller, where the seller will provide his details. The Bitcoins from the seller will then be sent directly into Escrow. Once you conform that you have sent all the payments as you are required to, your coins will be deposited directly into your Paxful wallet.
It is important that you remember that you ought to finalize your deal in a given timeframe (generally 30 minutes). A failure to do so will ultimately result in cancellation of the deal.
Buy from Wirex – Step by Step Guide
Formerly referred to as E-coin, Wirex combines traditional banking and digital money services. This bitcoin world issued debit card allows for a cheap transfer of money anywhere, anytime. Because it is similar to other typical debit cards, you can use your WirexApp card together with your individual Paypal account. To purchase Bitcoins using your WirexApp debit card, below are the steps to follow:
- Get a Wirex Account
- Fund the Account
- Purchase Your Bitcoins
To sign up with Wirex, you only need a Username, Email Address and several other details such as birth date. On joining, you are presented with a virtual card (free). Your world is secured by Bitgo, which is the safest multi-sig currency wallet in the world. After joining, upload your ID copies and addresses for a prompt KYC (Know-Your-Customer) check then you are done!
Now, add funds using the currency you prefer. Use methods that are trusted such as Paypal, bank transfers, Alipay, and other different available methods available. You can hold this Wirex money either in Bitcoin or Fiat currency depending on your preference.
Click on the ‘Buy Bitcoin’ button, choose the subsequent amount from the balance of your account, and then confirm your payments and that is that! On purchasing Bitcoin using Wirex, there are no charges, therefore, the amount is consistent.
Your account now has Bitcoin which you can send, save or even share with anyone you wish. Moreover, you can use it in topping up your exclusive Wirex card. You can use this Wirex card to carry out several transactions including:
- ATM Withdrawals.
- Offline Store types of Purchases.
- Verification of PayPal Account & Online Purchases.
- Sending Money across Countries with no charges.
Why you should not buy BitCoin with PayPal
There are numerous resulting cases of chargeback as claimed by various scammers who purchase Bitcoin using Paypal. As such, Bitcoins have been tainted by the chargeback scammers.
While I made my first Bitcoin purchase on Paxful, I would still recommend using a good reliable exchange. The charges on all the above are relatively high and their commissions to transfer Bitcoins to you will eat up the value. You can use the above options if you do not have access to other cryptocurrency exchanges.
Let me know in the comments section, what you think.