Best Services Reviewed:
- How to buy bitcoins with PayPal at LocalBitcoins.com
- How to buy bitcoins with PayPal at Paxful.com
- How to buy bitcoins with PayPal at VirWox.com
- How to buy bitcoins with PayPal at eToro
Bitcoin has been around since 2009 but didn’t indeed explode in popularity as an alternate form of currency or as something to invest in until about a few years ago. These days, millions of people around the world are at least aware of bitcoin’s existence, and many are still seeking to become more involved in it.
The good news, if you are very interested in investing further in bitcoin, is that there are now more ways for you to gain possession of this particular form of cryptocurrency, and that’s true even if you live in the U.S.A., in Australia, or other parts of the world.
The even better news for hopeful bitcoin buyers is that there are ways for them to get a hold of this valuable form of currency using the money that they currently have in their PayPal accounts.
The Websites to Know if You Want to Buy Bitcoins via PayPal
There are indeed some websites that will help you get a hold of some bitcoin using your PayPal account, but they do vary in certain ways.
As its name suggests, LocalBitcoins.com works by connecting a buyer with a seller who is in his/her local area. The website provides you with a handy search tool to use in your hunt for bitcoin. You can enter the number of bitcoins you want to purchase, the country in which you want to make a deal, and then select how you want to complete the transaction either by choosing some kind of money transfer or bank service or by exchanging cash in person.
A list should then pop up showing how many people near you are willing to sell their bitcoins.
Now, it is worth noting that PayPal is just one of the available options that can be used for completing a deal, so there’s a good chance that not everyone you are interested in buying bitcoins from will be willing to accommodate you. An article posted on 99bitcoins.com also notes that the fees can really climb high when using LocalBitcoins.com so your profits may not become as big as you want to them to be.
Still, if you’re lucky enough to find a reputable seller in your part of the world that is selling the amount you are looking for, then maybe you can move forward with a small transaction first and then go from there.
Using LocalBitcoins you can buy BTC with PayPal or any other option you agreed with the seller.
Paxful shares quite a few things in common with LocalBitcoins.com, as you’ll quickly learn for yourself when you visit their website. The process is here is pretty intuitive. You can select the payment method you prefer, and notably, PayPal is one of the first options listed so there’s a good chance more sellers will opt for using it as well. After choosing the payment method, you can input the number of bitcoins you want to pay, hit enter, and wait until you find a seller who is willing to make a deal.
Finder.com.au notes that Paxful will first place your money and the seller’s bitcoins into escrow and then proceed to verify the deal before funds are released to the corresponding parties. If you don’t have that much experience buying bitcoins, that added step in the process should help you feel better about making a deal.
Still, you probably shouldn’t expect that you will be able to get a deal done right away because even if PayPal is listed as one the first options on Paxful, that doesn’t mean that the majority of sellers will be open to exchanging currency using that website.
VirWox works differently from the first two websites mentioned above, mainly because it utilizes a third form of currency to complete deals. That additional form of currency is known as the Second Life Linden Dollar, and as pointed out by Finder.com.au, that’s the currency used in the video game known as “Second Life.”
To complete deals using VirWox, you will first have to purchase those Second Life Linden Dollars, and that’s where your PayPal account comes in. Those Second Life Linden Dollars can be obtained using the real-world money in your PayPal account. Once you have enough of those Second Life Linden Dollars, you can then trade them in for bitcoins via VirWox.
The biggest issue with using VirWox to get a hold of bitcoins is that two separate fees need to be paid. There’s a fee to be paid when you convert your real money into Second Life Linden Dollars and then another one when you’re converting those special dollars into bitcoins. It can be a pretty tiresome and costly process, but if you’re willing to put up with it, the bitcoins you want will be within reach.
VirWox is in our eyes one of the best options to convert PayPal to Bitcoin.
Last up is eToro, and this website also functions differently in terms of bitcoin-related transactions. You will not be able to do much with your bitcoins via eToro. Once you have bought your bitcoins, you won’t be able to withdraw them or even send them to others. Instead, what you will be allowed to do is to turn your bitcoins into the currency used for real-world transactions.
The aforementioned article on 99bitcoins notes that because of those restrictions, eToro is mainly for investing in cryptocurrency. Also, if you reside in the U.S.A., you will not be able to use eToro, so you may have to stick to the other websites mentioned previously.
Why buy Bitcoins?
As you may know, PPCasinos is the online gambling directory dedicated to reviewing of PayPal Casinos. However, a lot of Casino Players from Australia or Gamblers from the U.S.A are not able to use PayPal for gambling at all. One of the possible solutions is to pay with Bitcoins.
Since bitcoins are a new concept and not everyone knows how to get or use them, and a lot of players are still bounded to classic payment methods such as Credit Card, PayPal, or Bank Transfer. In this post, we tried to show you how to buy bitcoins and reviewed the best sites to buy bitcoins with PayPal. Hope this helps.:)
Conclusion: it is possible to exchange PayPal to Bitcoin
So, there you go. Now you know about four websites that will allow you to acquire bitcoins using your PayPal account. As with going through any kind of financial transaction, always make sure that you have safeguards in place to protect you and your money, and as much as possible, try to negotiate deals with sellers who have good reputations.
Buying bitcoins via PayPal is not as simple as you may want it to be, but it can still be done.