Paypal is one of the most widely used payment methods across the world. It is a global payment platform used by millions of people to send and receive money in various currencies. It has a simple user interface and can be easily linked to any bank account, thus making it one of the most sought-after payments platform.
On the other hand, the popularity of Bitcoin trading is on the rise. However, many people are uncomfortable using their credit/debit cards to buy or sell Bitcoins. Interestingly, one can even use Paypal as a payment method to buy and sell Bitcoins. In this blog, we will discuss how and where you can buy and sell Bitcoins using Paypal.
Paypal considers Bitcoin as a type of digital currency and does not allow direct Bitcoin transactions through its platform. According to Paypal’s privacy policy, transactions are reversible. But, Bitcoin transactions once made, cannot be reversed in case of any discrepancies. Hence, Paypal does not allow direct Bitcoin transactions, owing to its customer protection policies. However, there are certain Bitcoin trading marketplaces and platforms, that support Paypal as a payment method.
How to Buy Bitcoins Using Paypal?
Here are the best 5 ways to buy bitcoin with Paypal instantly – Etoro, LocalBitcoins, Paxful, XCOINS, and Wirex. On each of these platforms, you can simply add Paypal as the payment method, and use your Paypal money to buy Bitcoins from a diverse range of sellers registered on the platforms. Interestingly, Wirex also offers a virtual credit card where you can add money from Paypal and use the card to buy Bitcoins on several of its partner platforms.
How to Sell Bitcoins Using Paypal?
In order to sell Bitcoins and accept payments via Paypal, simply register as a seller on LocalBitcoins, Etoro, or Paxful. Once your account is set up, look for merchants or buyers who are willing to buy Bitcoin. Reach out to them and mention Paypal as your accepted payment method. You can also set your own exchange rates on these platforms. However, we recommend you to set rates close to the market price, to increase your chances of selling. On the other hand, XCOINS is one of the best platforms to loan Bitcoins to buyers as a lender.
Note: If you want to trade in Bitcoins directly from your mobile devices using Paypal as a payment method, simply download the mobile apps from Etoro, Paxful, or Wirex. These apps are available on both Android and iOS.
Conclusion
Coinbase is one of the most trusted cryptocurrency exchanges out there. However, it does not allow using Paypal as a payment method on its platform. You can only use debit/credit cards or wire transfer to buy or sell Bitcoins on Coinbase.
The above-mentioned platforms (best 5 ways to buy bitcoin with Paypal instantly) – are quite useful for trading crypto seamlessly without using any bank-linked credit or debit card.
Peter Gena is a senior writer at ECN, where he covers media and advertising and co-hosts the Original Content podcast. Previously, he worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. He attended Stanford University and now lives in Brooklyn.
