Table of Contents
Where Can you Buy Bitcoin with PayPal?LocalBitcoins.com.
LocalBitcoinsLocalBitcoins are a peer-to-peer exchange that allows people from more than 200 different countries to buy and sell BTC. It was created in 2012 and their headquarters are in Finland. The greatest thing about LocalBitcoins is that they supports more than 20 different payment methods – including PayPal!
✓ Easy sign up process
✓ Lots of sellers accepting PayPal
✓ Protected by escrow
✗ Sellers often charge higher Bitcoin rates for PayPal payment
✗ You may need to verify yourself (sellers choice)
✓ Lots of sellers available
✓ Direct PayPal deposits are available
✓ No withdrawal limits
✗ The fees are very high
✗ Have to wait 48 hours after registration before you can buy
✗ Low deposit limits
eToroThe eToro platform is a major marketplace where people can buy and sell a range of financial products. This includes real-world currencies (like USD/EUR), commodities (like Gold/Oil), stocks (like Apple) and of course Bitcoin! EToro was created in 2007 and now have over 5 million customers in more than 170 countries! However, the platform is slightly different as you don’t actually ‘own’ any of the assets that you buy or sell. Instead, you are purely speculating on whether the price of the asset is going to go up or down. EToro are fully regulated by various national authorities including the Financial Conduct Authority (in the UK) and the Cyprus Securities & Exchange Commission. This means that your funds are protected up to a certain amount! Here’s how it works when you buy Bitcoin with PayPal at eToro Once you have created an account, you can instantly make PayPal deposits. You can then make a bet on the price of Bitcoin going up (or down). If at any point you want to close the trade and make a withdrawal, your trade is converted to real-world fiat currency.
✓ Fully regulated in multiple nations
✓ Low fees
✓ High-level security
✓ Good limits for first time buyers
✓ Instant PayPal to Bitcoin deposits
✗ You don’t actually ‘own’ the Bitcoin
✗ Only recommended for users who understand what they are doing
How to Buy Bitcoin with PayPal
- Visit the LocalBitcoins website by clicking this link.
- Click on the green Sign up free button and follow the account registration process. I would advise that you enter accurate information as you will be more likely to find a seller that is happy to accept a Paypal payment from you.
- Once your account is set-up, click on Buy Bitcoins at the top of the page.
- Enter your local currency value of Bitcoin you want to buy, then select the country that you want to buy from. Although I have selected the United Kingdom, you can choose any country you want.After that, click on the all online offers drop down box and select Then click on Search.
- You will now see a long list of sellers that will allow you to buy Bitcoin with PayPal. The results are ranked by the price that the seller is willing to accept. Next to the username, you will also see the total amount of trades that the seller has completed, along with their feedback score.
As you will see, the top seller has completed more than 500 trades and they have a 100% feedback score (this is super important). Not only this, but they are also offering PayPal to Bitcoin at the cheapest rate! Once you have selected a seller, click on Buy.
- You are now at the final stage before your trade request is sent to the seller. Check that the information is correct, including the rate and the amount you want to buy. On the right-hand side, you will see some individual terms specified by the seller. In this example, the seller is requesting that the buyer has completed at least 30 trades. As I have been using LocalBitcoins for many years now, I meet his terms so I can move on to the next step. If you don’t, simply go back and choose another seller!
- Now you need to simply click on Send Trade Request.
- As soon as the seller accepts your Bitcoin with PayPal request, their coins will be locked in escrow. You will be provided with the PayPal address that you need to transfer the funds to. As soon as you have done it, click on Payment Sent.
- The seller will then be notified that you have sent the payment. They will check their PayPal account and as soon as they see it, and the Bitcoin will be released to your LocalBitcoins wallet! You can then simply withdraw them back to your personal wallet!
- Visit the official VirWoX homepage by clicking this link.
- On the left side of page, click on Not Registered Yet.
- Follow the account opening process. You will need to choose a username and enter your email address, full name and country of residence.
- Once you have registered and logged in to your newly created account, click on Deposit on the left hand side of the page.
- You will now see a long list of payment methods. Scroll down and look for PayPal. Enter the amount you want to deposit and then click on the Check out with PayPal You will now be re-directed to your PayPal account to complete the transaction.
- Your account will now be funded with your chosen currency (mine was USD but it could also be EUR). Next, look for Exchange on the left hand of the page and then click on USD/SLL (or EUR/SLL).
- Exchange your USD/EUR for SLL coins at the best market price. This should be completed instantly.
- Now that you have SLL coins in your account, click on BTC/SLL which is on the left hand side underneath
- Exchange your SLL coins for Bitcoin at the best market price. Again, this should process instantly.
- Your account is now funded with Bitcoin. Now you can withdraw them to your personal Bitcoin wallet!
- Visit the official eToro homepage by clicking on this link.
- At the top of the page, click on Get Started, followed by Sign Up.
- Follow the account opening process, which will require you to enter your full name and email address. You will also need to choose a strong password.
- Once your account is set up and you are logged in, click on Deposit Funds. Enter the amount of funds that you want to deposit and then select PayPal. You will be re-directed to the PayPal website. Log in to your PayPal account and complete the transaction.
- Now that your account is funded, search for Bitcoin at the top of the page and then click on Trade.
- Enter the amount of Bitcoin that you want to buy in your local currency, then click on Buy. Don’t forget, you do not actually own the Bitcoin that you have just bought. You are simply betting on the price going up or down.