So, you’ve been looking into Bitcoin and want to get involved with mining or another form of Bitcoin procurement. But how exactly do you purchase Bitcoins? One of the greatest drawbacks of Bitcoins has been how difficult it’s been to actually acquire the Bitcoins using regular currency. Luckily, there are multiple methods to convert your bills into Bitcoins.
PayPal is one such method. There are multiple ways to use PayPal to get Bitcoins – in this article we go through the most popular and accredited methods. Keep reading to find out how you can easily and quickly buy Bitcoins with paypal.
Method 1: Localbitcoins
Localbitcoins is a Bitcoin marketplace where you can choose sellers to buy Bitcoins from. The site features each seller name, what payment method they use, and their price per Bitcoin.
To carry out the transaction:
- Login to LocalBitcoins
- Simply deposit cash into the account number and
- Sign the receipt you get from the transaction.
- The seller then releases the Bitcoins into your Localbitcoin wallet, which you can then withdraw to your own wallet whenever you want.
Method 2: VirWoX
VirWoX is by far the most popular method of buying Bitcoins with PayPal. It’s not as simple as a marketplace like Localbitcoins, but it is considered one of the best ways to buy Bitcoin with PayPal today.
To buy Bitcoins with VirWoX, there are several exchanges that take place. First you must first:
- Make a free account with VirWox
- Deposit money into your account using PayPal to the VirWoX exchange.
- Then, you exchange your money for “Second Life Lindens”, which you in turn exchange for Bitcoins.
- The Bitcoins can then be withdrawn into your actual wallet.
Method 3: Paxful
Paxful is a newer website, and is similar to Localbitcoins. However, Paxful is cleaner and requires your account to be a verified USA PayPal account, making it a safer option for buying Bitcoins. The buying process works extremely similar to the Localbitcoins site, and you can even let Paxful choose a verified seller for you.
There are several other popular sites that allow you to buy Bitcoins through PayPal.
Buying Bitcoins with paypal can be a safe, simple method of acquiring Bitcoins if you use the above websites and do your research before making any decisions. Like with any monetary transaction, you have to be very careful and make sure you’re using an accredited intermediary to buy Bitcoins.
Since Bitcoins are virtual, it’s even easier to lose your money through fraud, memory loss, hackers, and more. Protect your Bitcoins as you would your real money by understanding what you’re doing and you’ll be happily carrying out your future transactions with ease.