Looking to get into the new bitcoin market? It’s a crazy world out there, and everyone just wants to keep their head on top of the water. The value of bitcoins is rising, and so are the well-practiced scammers who are more than willing to run off with your money and the bitcoins they were intending to buy and or sell.
This is definitely not something for the weary-hearted, and it involves having at least some background in regards to technology and knowing the best ways in which to avoid ending up as a victim of some kind of fraud. PayPal, not wanting anything detrimental to their superb security track-record, has made it very difficult to purchase bitcoins.
However that doesn’t mean that there aren’t ways of purchasing bitcoins with your PayPal.
How to buy bitcoins with paypal?
- Virwox: If you’re not new in the bitcoin market, then you are probably aware of Virwox. It’s been around for a long time, and is actually considered fairly dependable in this regard. The method in which you buy the bitcoins themselves are a bit roundabout, first you’ll have to purchase another form of online currency called Second Life Linden Dollars (SLL), this is something you ‘can’ purchase using PayPal, and one you have it, you can then get this exchange to bitcoins! The only downside to this is the high fees that come along with your purchase.
- LocalBitcoins: If you’re looking for another legitimate way to purchase bitcoins, consider using LocalBitcoins. For this, there’s almost no way of not receiving either your money or your bitcoins, seeing as the website requires the seller to deposit the bitcoins they would like to sell. The next step, is of course, for the buyer to deposit the money that they want to use to buy said bitcoins. Only when both parties have sent in their bitcoins/money will the purchase be finalized by the site itself! So yes, it’s definitely pretty secure.
- Paxful: Another alternative is one that is a lot like the one mentioned previously. There are some preliminaries questions that you have to answer – as well as having to provide a verified PayPal account, but aside from that – once the payment has been sent, the bitcoins will be released to you. Note that, once these bitcoins have been placed on the platform by the seller, they are stuck there until they are purchased – meaning it would be in the seller’s best interest to have them sold as fast as possible.
- Cryptonit: Another way of exchanging bitcoins/money, although this one has been around for quite a while. This is fairly fool-proof as well, so long as you can provide what is required of you, then you are good to go. Though take note, the fees for this are high – so be mindful of how much you are spending!
Whichever of these you choose to use to buy bitcoins in the end, just remember to be careful. Keep track of what you’re buying and how much you might have to pay for using the convenience that these platforms provide!