Financial jargons often create friction in people’s minds because of the lack of understanding. A lot of people miss out on various great investing opportunities just because they did not take out the time to research and understand how it works. For instance, bitcoin is everywhere and are a great virtual investment option. However, many avoid investing in them as they don’t know how to start and what to do. Here is something to help them out.
This article will help you understand the different platforms from which you can buy bitcoin online, using PayPal as the payment option. Every portal is different and caters to the needs of each segment of people wanting to invest. However, essentially, a site to buy bitcoin with PayPal is like a virtual marketplace with buyers and sellers, while some purely follow the digital concepts.
Buying bitcoin with PayPal
PayPal is one of the most valued payment systems in the world today and is expected to keep growing rapidly. The growth is expected because of the recent big announcement that customers can buy, hold, and sell bitcoin through PayPal. Bitcoin is relatively new in the market, and almost everybody has an opinion about them. It has been all over the news now, after surging to a multi-year high.
PayPal is the problem solver here. For new things, at first, people always have resistance in looking at the positive side of it, and bitcoin was no different. There were always discussions regarding how and from where to invest in bitcoin. Through PayPal, bitcoin payments have become easy and accessible to all. You can buy bitcoin with the PayPal app for an amount as low as $1. Further below in the article, you will also find different platforms that allow you to buy bitcoin using PayPal.
About Unocoin
Unocoin is India’s leading bitcoin company. It started in Tumkur, Karnataka, intending to bring bitcoin and providing a platform to trade them by Indian traders. They have grown quite rapidly since 2013, creating a global reputation for being a top player in the crypto assets arena.
5 platforms to buy bitcoin with PayPal
Buy bitcoin with PayPal through eToro
eToro is probably one of the best ways to buy bitcoin. This platform allows you to make payments for bitcoin and add them to your wallet. However, it is often noticed that the steps that need to be followed for transferring are time-consuming.
Once your account is created, instant PayPal deposits can be made. You can bet on the bitcoin, going up or down. Now, if at any time you want to close and withdraw the deal, the transaction gets converted to a real-world fiat currency. The best part is that a lot can be bought without you having to go through the lengthy verification process.
If you are not actually looking to buy bitcoin online and just want to profit from price swings, eToro is the easiest way to do it. One more thing to remember is that you do not need a bitcoin wallet to make price speculations from the eToro website. eToro also provides a wallet through which you can buy, store, and sell cryptocurrencies, including bitcoin.
The process of buying bitcoin on eToro:
- Create a free account on eToro
- Deposit your money
- Fill in the blanks for your identity verification
- Put in the amount that you want to deposit
- Choose PayPal as the payment option
- Your bitcoin will be transferred to you in no time.
Buy bitcoin with PayPal through LocalBitcoins
Localbitcoins, unlike eToro, is a marketplace where actual buyers and sellers connect to make transactions. In this case, it becomes a task to search for a genuine seller. The seller will charge some premium amount for the transaction.
The advantage of using this platform to buy bitcoin with PayPal is that you will get your bitcoin much faster than on any other platform. Unlike other platforms, here, you can directly talk to the seller rather than the website. Once the transaction has taken place, it gets locked into an ‘escrow’ so that buyers and sellers do not lose their bitcoin or payments.
It is good to check for the seller’s credibility because anybody can become a seller here, which allows the scammers, as well. You can read reviews on buy bitcoin with PayPal.
The process of bitcoin purchase on LocalBitcoins:
- Register and create your free account
- Click on buy bitcoin
- Search for a seller who accepts PayPal as a payment method.
- Once you are sure of the seller’s credibility, confirm the transaction.
- Mark the payment complete.
- Your bitcoin will be transferred to you after the seller is ensured of his payments.
Buy bitcoin with PayPal through Xcoins
This platform allows you to borrow bitcoin instead of buying them. At the time of borrowing, you need to pay a fixed amount, which acts as interest on what you borrow. On the site, you need to go through a short ID verification process, after which you will be asked to deposit the equivalent of how much you want to borrow plus the fixed charges. Some buyers don’t like to go through the complex procedures of exchanges. Here, you can also use the PayPal payment option to pay for the transaction. You can also attach debit or credit cards with the PayPal account.
The process of buying bitcoin with Xcoins:
All you need to do is,
- Set the number of bitcoin
- Confirm and pay using the PayPal option.
Buy bitcoin with PayPal through Paxful
Paxful is very similar to LocalBitcoins and creates a marketplace where buyers and sellers interact and trade. Here, you do not have to pay any charges to the site to buy bitcoin with PayPal. However, you need to pay a fee to the sellers, as sellers are expected to pay 1% fees to the company and some more fees by senders to the bitcoin miners for making the transaction take place.
The transaction process is also very user-friendly, choose the number of bitcoin you want, the currency, select the payment method, choose a seller, and trade. That’s it. At Paxful, you need to ensure that the seller is trusted and everything is documented. In case of any discrepancies, the documentation will benefit you.
The process of buying bitcoin with Paxful:
- Register and create your free account at Paxful
- Click on the ‘buy bitcoin’ button
- Select the currency
- Select PayPal as the payment method
- Click on the buy button (make sure to read the terms and conditions to be aware of the fee you need to pay)
- After the confirmation, you will have half an hour to pay the amount
- After you have made the payment, click on the ‘paid’ button and exit the tab
- You will receive your bitcoin soon
Similar to LocalBitcoins, you need to find a genuine seller at a reasonable bitcoin price quote. (You can research on buy bitcoin with PayPal)
Buy bitcoin directly through PayPal
This is the best option to buy bitcoin with PayPal if it is supported in your country. The payments platform has made our lives so much easier. We do not have to go through the struggles of finding a genuine website and the know-how of the whole topic. PayPal allows users to do this with just one c
lick; users can buy bitcoin with PayPal for as low as $1, as well. You will get coins faster, and the payment process is hassle-free.
The process of buying bitcoin with PayPal:
You will have to create an account on PayPal if you haven’t already with your email id and bank details. That is all you will need to buy bitcoin with PayPal. It is as simple as that.
- After login, click on the ‘buy bitcoin and more’ button.
- Select the cryptocurrency you want to buy (options apart from bitcoin are also available)
- Click on buy
- Review and confirm your payment.
FAQ’s
1. Can I buy bitcoin with PayPal on Unocoin?
No, Unocoin does not support payments made through PayPal to buy bitcoin. When you are making transactions with Unocoin, you will see that the PayPal payment option is not available. They only bank based transfers. It is, however, in their plans to add PayPal payment options in the future because there are thousands of users comfortable with this option.
2. How do I transfer bitcoin from PayPal to a bitcoin wallet?
You cannot transfer bitcoin from PayPal to a bitcoin wallet. A PayPal account will only allow you to make payments for bitcoin. Presently only buying, holding and selling is allowed and not depositing or withdrawing/transfering.
Unocoin is India’s first and the most secure bitcoin trading app. This exchange app was founded in 2013. You can buy and sell bitcoin instantly using the Instant Buy and Sell feature. Not just this, you can also buy ETH and Sell ETH in no time. With more than eighty-seven coins listed on this best cryptocurrency exchange in India, you can also accept bitcoin from your friends from any location. You can also know which cryptocurrency works best for you with the price ticker and notifications. The most popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT (Tether), BNB, Ripple (XRP), Cardano (ADA), Solana (SOL), Binance USD (BUSD), Dogecoin (DOGE), Polkadot (DOT) and other popular altcoins can be traded on the go. The new Android and iOS applications make Unocoin the best cryptocurrency app. With the unique feature of the Systematic Buying Plan, you can buy and sell bitcoin and Ether periodically. What more? You can start your crypto journey using SBP for as little as INR 10. With another exciting feature called Crypto Basket, you can diversify your crypto portfolio based on market capitalisation (Market Cap) or Volume. These two excellent features make Unocoin the best cryptocurrency platform.
Love Crypto Coins. Love Unocoin.
Please find the list of authentic Unocoin accounts for all your queries below:
- YouTube Channel: https://www.youtube.com/c/Unocoin/videos
- Newsletter: https://medium.com/subscribe/@Unocoin_growth
- Blogs: https://blog.unocoin.com
- Instagram: https://www.instagram.com/unocoin/
- Twitter: https://twitter.com/Unocoin
- Facebook: https://www.facebook.com/unocoin/
- LinkedIn: https://in.linkedin.com/company/unocoin
- Telegram Group: https://t.me/Unocoin_Group
- Telegram Channel: https://t.me/+fasQhTKBsfA5N2Zl
- Telegram: https://t.me/UnocoinSupport_Bot
- E-mail id: [email protected]
- Contact details: 7788978910 (09:30 AM IST — 06:30 PM, Mon — Sat)
- App store link: https://apps.apple.com/us/app/unocoin/id1030422972?ls=1
- Playstore link: https://play.google.com/store/apps/details?id=com.unocoin.unocoinwallet
Disclaimer:
Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).
