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A Beginner’s Guide on How to Buy Bitcoin with PayPal – 2021 BEST

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How to Buy Bitcoin with PayPal
How to Buy Bitcoin with PayPal

If you wonder how to buy Bitcoin with PayPal, this guide is for you! We have prepared the most beginner-friendly Bitcoin buying guide for those who are new to the crypto world. In the past, buying Bitcoin with PayPal was quite risky because of the chargeback problems. However, this totally changed and therefore we wanted to share this guide to show you the safest way to buy Bitcoins with PayPal in 2021.

A Quick Overview on How to Buy Bitcoin with PayPal Guide

In the early days of cryptocurrencies, PayPal was hesitant to be preferred as the main method to buy Bitcoin. This was mainly because of the chargeback operations requested by many users. Today, buying Bitcoins with PayPal in 2021 is a favorable method but there are still limitations.

If you would like to overcome this challenge, you can prefer reputable third-party services to buy Bitcoins with PayPal. In this guide, we are going to discuss and provide information about these services.

Coinbase and LocalBitcoins are some of the services that you can prefer to buy or hold your coins. Each of them has its own advantages and drawbacks, which we will handle in the following.

If you are looking for quick operations and transactions, we can also recommend eToro to buy Bitcoins with PayPal. This method can be the ideal choice for traders who would like to speculate on the prices.

eToro also shared a disclaimer about its operations and what you should expect from this platform as a trader. They noted that they serve within European Union, United Kingdom, and the United States. They also note that this highly volatile market is not regulated in many countries, and they are not subject to consumer protections. Therefore, all your investments are at your sole risk.

We would like to note that 67% of the traders lost money when they traded CFD (contract for differences) with this platform. It will be a great idea for you to think twice before using this platform. In addition to this, since CFD is not available to traders residing in the United States, you may not be able to receive their services.

Here is a quick overview of what you are going to find in our how to buy Bitcoin with PayPal guide:

How to Buy Bitcoins with PayPal without Third-Party Services?

You do not have to use third-party services to buy Bitcoins. The main advantage of buying Bitcoins with PayPal without third-party services is low risk and you can enjoy higher maximum limits for your transactions. On the other hand, you will not be able to directly withdraw your coins to your wallet. This feature is only offered to United States-based users.

PayPal allowed direct Bitcoin purchases in October 2020. Besides Bitcoin, you can also buy three more cryptocurrencies with the help of your digital wallet, but these services are supported through Paxos.

Well, what does this mean for us? It means that we can purchase Bitcoins with PayPal and keep them on their services. In addition to this, we will be able to use our coins in every merchant that offers PayPal payment options. Although PayPal does not allow the trade of Bitcoins between the users, they announced that they are planning to allow withdrawal to third-party wallets in the future.

In fact, this feature is live right now, but the application area is limited to the United States. In the close future, PayPal will offer this service in many other countries too.

For now, buying Bitcoins with PayPal has some limitations. You cannot trade more than $20,000 in a month and $50,000 in a year. In addition to this, these transactions are subjected to varying fees that change between 1.5% and 2.3%.

Guide on How to Buy Bitcoins with PayPal

  • If you do not have a PayPal account yet, you can directly signup to their systems.
  • Once you log in, look for the Your Crypto section and click on Buy and Sell option. It will be worth noting that these links are only available in supported countries.
  • Choose Bitcoin and then click on the Buy button.
  • Now you can enter the amount you would like to purchase.
  • Once you are done, pick your payment method and click on the Next button.
  • On the new page, you are going to see the conversion rates and transaction fees.
  • After checking this information, you can click on Buy Now button to complete the purchase order.

The Bitcoins you buy will be transferred to your PayPal digital wallet immediately after your purchase.

How to Buy Bitcoins with PayPal Using eToro?

If you would like to buy Bitcoins with PayPal using eToro then you can enjoy one of the lowest fees on the market. Moreover, this platform allows you to pay with many different methods. On the other hand, the biggest downside of the platform is it is not available for many countries. In addition to this, withdrawing your coins can be quite complicated for those who are not familiar with the platform.

eToro is one of the easiest methods to buy Bitcoins with PayPal. Although it is quite easy to buy Bitcoins with their services, a challenging process and lots of steps are waiting for you to withdraw your coins to your wallets.

This is why we would not recommend it for those who are planning to buy Bitcoins to use them. It can be the best choice for traders who would like to make money by trading Bitcoins without owning them. Without a doubt, eToro is the best platform for this purpose.

This platform can be considered a coin speculation platform, which is ideal for people who are willing to make money with their daily transactions.

Trading Bitcoins on a daily basis is a quite risky trade and not recommended for beginners. You need to understand certain financial concepts before investing your money for this purpose. Since the cryptocurrency market can significantly fluctuate, your investment will be at risk, especially if you do not know what you are doing.

In addition to this, the lack of regulations on cryptocurrencies is another great barrier to trading. These operations are not subject to consumer protections of the United Kingdom, United States, and European Union. Moreover, 67% of the traders who prefer to trade CFDs lose money instead of making it.

We highly recommend you be careful while choosing this method as an investment tool. In addition to this, trading CFDs is not allowed in the United States.

How to Buy Bitcoins with PayPal Using Paxful?

Beginners who are wondering how to buy Bitcoins with PayPal using Paxful can benefit from a very wide market. You can easily find plenty of sellers from all around the world. The biggest downside of this method is high exchange rates. Moreover, your chances of getting scammed are quite high when compared to other methods available on this guide.

Paxful is a peer-to-peer marketplace that meets the Bitcoin sellers and buyers on a single platform. You can literally exchange Bitcoins for everything including Amazon gift cards or Skype credits. It all depends on your agreement with the opposite part.

Guide on How to Buy Bitcoins with PayPal Using Paxful

  • First, you need to create an account through their platform.
  • After that pick a payment method for your purchase and enter the balance.
  • Once you are done, you can choose the Bitcoin seller to buy your coins.

At this step, you can pick the seller on your own or let Paxful pick the best seller for your trade.

After you are done, you will be redirected to a page where you can chat with the seller and agree on terms. The Bitcoins will be kept on an escrow service and once you make the payment, they will be transferred to your account.

The duration of this chat page is limited to 30 minutes. This means that you need to finalize the deal within this time. Otherwise, the trade will be canceled, and you have to start from the beginning.

How to Buy Bitcoins with PayPal Using Coinbase?

If you wonder how to buy Bitcoins with PayPal using Coinbase, we have some good news for you. This platform is one of the most trusted platforms in the world and offers high limits to traders. The biggest downside of this method is you cannot buy directly through your PayPal account.

Coinbase is one of the trusted cryptocurrency platforms in the industry and they started allowing buying Bitcoins with PayPal in 2021. For now, they do not allow buyers to buy coins directly through their PayPal accounts. Instead, you need to benefit from PayPal as a middleman and use your bank account or debit cards to buy. Just like PayPal, Coinbase also offers a high limit to traders, which is $25,000 in a day.

We would like to share the transaction fees for your future PayPal purchases. You are going to pay a 4% transaction fee whenever you buy Bitcoins with PayPal for your debit cards. This transaction fee is only 2.5% when you buy it via bank deposits.

In addition to this, you can also withdraw real currencies to your PayPal account through Coinbase services.

How to Buy Bitcoins with PayPal Using xCoins?

xCoins is one of the oldest methods and you do not have to worry about anything if you are wondering how to buy Bitcoins with PayPal using xCoins. The biggest downside of this method is high fees, and it is relatively confusing for beginners.

The company promotes itself as a Bitcoin lending service and it should not be confused with xCoins.com. We are talking about xCoins.io in this guide. Basically, you will not be selling your Bitcoins to other users but loaning them to the platform. They have a quite complex business model, which we tried to explain it in the simplest term.

You and the seller or buyer will be trading your assets, i.e., fiat currency and cryptocurrencies. Both parties must undergo a quick ID verification process beforehand. Once you are done, you can deposit the money, pay the PayPal transaction fees and another fixed amount. This fixed amount can be thought of as the interest of the loan you are going to receive.

Guide on How to Buy Bitcoins with PayPal Using xCoins

  • You need an account to benefit from their services.
  • Once you create your account, you need to choose the amount you would like to buy.
  • After that, you have to agree to a loan agreement, which we have provided in the following.
  • Then you need to undergo a quick ID verification process
  • In the final step, you need to make the payment and receive your coins.

It will be worth noting that the fees you are going to buy for the transaction are relatively high when compared to the other methods we have mentioned here.

How to Buy Bitcoins with PayPal Using LocalBitcoins?

Traders who wonder how to buy Bitcoins with PayPal using LocalBitcoins can benefit from a rich marketplace. LocalBitcoins is one of the popular platforms in this regard, however, they charge high fees when compared to other platforms. In addition to this, you have a high chance of getting scammed. Therefore, you need to be careful at all times.

LocalBitcoins is also a peer-to-peer platform where it meets buyers and sellers from all around the world. This is why you should never trust anyone by trusting the reputation of the platform. Each seller is unique, and you need to be cautious.

The reason why the fees are high is because of the risk that sellers are exposed to due to chargebacks. However, this is one of the quickest platforms to buy Bitcoins with PayPal. We have shared a detailed LocalBitcoins review, which you can check out to learn more about it.

Guide on How to Buy Bitcoins with PayPal Using LocalBitcoins

Buying Bitcoins with PayPal using LocalBitcoins can seem complicated at the first glance, therefore here is a brief guide you can follow.

Creating an Account and Defining Parameters

Just like all the services you need to create an account to benefit from LocalBitcoins. Once you are done, you can set the parameters for your trade such as the number of Bitcoins you want to buy, your country, fiat currency, and payment method. Unfortunately, LocalBitcoins was designed to be a platform where buyers and sellers can meet face to face.

This is why there is no global option you can choose from. Instead, you have to check for each country to find a seller that offers what you are looking for.

Find and Pick a Seller

Once you searched for the parameters, you are going to find a list of the sellers according to your search queries. You can click on their names and see detailed information about them.

Here are some recommendations we can provide for you to evaluate before choosing the right seller for yourself. You need to check the feedback score and confirmed trades of the seller. In addition to this look for how many people reported the seller as a trusted trader and how many people blocked the seller. Another criterion you can consider is the age of the account.

Please note that these are just recommendations that you can evaluate. There is no way to precisely decide whether a seller can be trusted or not in any means.

Finalize the Deal and Complete It

When you pick the right seller for yourself and proceed, you will be redirected to a new page. Here, you are going to learn more about the location, payment window, and trade limits of that seller. The payment window is a term that defines the time you have to send the money once you start trading.

Sellers can also share their own terms for the trade. You can easily locate these terms on the right section of the page. Here are the terms of sciack76, a seller that offers services on LocalBitcoins.

It will be worth noting that sellers may reject your trade and require a certain amount of prior trade. This is a kind of protection for themselves. This is why you may want to trade small amounts of Bitcoins at first to build a reputation.

Once you are done all you need to do is click on the Send Trade Request button to initiate the process.

If you wonder how to buy Bitcoins with PayPal using LocalBitcoins, this was all the information you need to know. We can recommend you carrying out all the operations through LocalBitcoins to prevent unwanted problems. The platform also offers escrow services to make the traders safer and you may want to benefit from it.

Although LocalBitcoins is a quick method to buy Bitcoins, you may have to make many transactions to build a good reputation and trade with every seller you want.

FAQs on How to Buy Bitcoins with PayPal

Here are some frequently asked questions on how to buy Bitcoins with PayPal. Some of these may provide you the answers that you are looking for.

Can You Buy Other Cryptocurrencies with PayPal?

Of course. There are services such as LocalMonero and LocalCryptos available on the market. These services allow you to buy Ethereum with PayPal. In addition to this, you can also buy Monero. All the rules and operations for Bitcoins are also valid for any cryptocurrency you are going to buy with PayPal.

Are There Other Methods or Platforms to Buy Bitcoins with PayPal?

Of course. There can be other platforms that allow you to buy Bitcoins with PayPal. However, these platforms we have shared here are the most reputable ones on the market. You can choose other platforms too, but you need to be cautious. Unfortunately, there are many risks in the crypto world, and you may get scammed easily.

All the platforms we have shared with you are on the market for many years and they have earned a massive reputation in the cryptocurrency world. If you know other platforms and recommend them to us, you can always leave a comment on this guide to let us know.

Can You Buy Bitcoins with PayPal Using Coinbase?

Sure, you can but you cannot use your PayPal account balance to do so. If you are planning to buy Bitcoins with PayPal using Coinbase, then you need to prefer a bank transfer or debit card, which should be used over PayPal services. On the other hand, you can directly withdraw your balance to your PayPal account without any limitations.

Final Words on How to Buy Bitcoins with PayPal Guide

These were all the reputable methods to buy Bitcoins with PayPal. Personally, we believe that LocalBitcoins and Coinbase are the best methods that can be preferred by every trader. Of course, these methods are amazing choices for those who want to use their coins in their daily lives.

On the other hand, if you are going to buy Bitcoins with PayPal for investment or trading purposes, we can recommend eToro. It offers the best and quickest platform to benefit from the price speculations.

If you have already bought coins through PayPal, we would like to hear about your experiences. Do not forget to leave a comment on this guide to share them with us.

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