Buy Bitcoin with Paypal
There are a handful of websites that accept PayPal as a payment method to purchase Bitcoin. But is it a good thing or not? PayPal is synonymous with internet shopping as it bridges the gap between the real world and the internet. With this being said, what are the websites that you can use PayPal to purchase Bitcoin?
Bitcoin Exchanges that accept PayPal
- Paxful.com – What’s great about Paxful is the fact that aside from PayPal, they have a very long list of payment methods that you can choose from! To name a few you can pay using Amazon Gift Card, OneVanilla Gift Card and any Credit Card.
- LocalBitcoins.com – One reason why LocalBitcoins remains at the top of Bitcoin exchange websites is the fact that they exist in virtually every country in the world. With just a few clicks of a button, you can search the sellers on which country you are currently at and choose from a list of payment methods.
- Xcoins.io – With Xcoins, verification is really fast and easy. The good thing about them is that they integrated the 2FA process along with your verification so that you would always have it activated. They accept PayPal and Credit Card payments to purchase Bitcoin.
In peer-to-peer market trading places like LocalBitcoins and Paxful, you would be charged by PayPal per transaction. LocalBitcoins does not have fees for buying/selling Bitcoins but they do charge 1% for every successful transaction for an advertised trade. Paxful doesn’t have any fees for PayPal transactions, but that doesn’t go the other way around.
Exchange websites such as WeSellCrypto and Xcoins, Bitcoin price would be from 10%-20% higher than the regular market value. You will still be charged by PayPal for the transaction and you would be given the total payment (including all the charges) when you checkout from exchange websites.
Risks in buying Bitcoin with Paypal
There is always risk involved when it comes to Bitcoin exchanges. Factors would include scam websites, fraudulent sellers/buyers and reverse payments just to name a few.
When using PayPal to purchase Bitcoin from websites like WeSellCrypto and Xcoins, you are actually buying Bitcoins from the website itself. The risk involved here would be to make sure that you do not get scammed in the process. Before using your PayPal with any transaction, do your research against that website you are planning to transact with. Especially with the payment method you are planning to use.
In selling Bitcoins through websites like LocalBitcoins and Paxful where peer-to-peer transactions are made, you need to make sure that you would stay away from PayPal payments. There are countless instances not just in purchasing Bitcoin through exchange websites but issues with e-commerce websites like Amazon/eBay regarding fraudulent buyers calling up PayPal and have them reverse the payment due to some issue. As a seller, that would be an automatic loss for you, not to mention your account being possibly blocked. You can read more about this issue on this link.