How to Buy Bitcoin with PayPal

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How to Buy Bitcoin with PayPal

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If you’re reading this, chances are you’re looking to start trading Bitcoin using your PayPal account. Fortunately for novices, this popular cryptocurrency has become a lot more easy to obtain than when it was just a few short years ago when the only way to get it was to mine it yourself. Nowadays, people can easily trade Bitcoin with no previous trading experience whatsoever.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

As one of the most popular online payment methods worldwide, PayPal has long been hailed as one of the quickest and most secure ways to send and receive money as well as to complete an online transaction.

How to Purchase Bitcoin using your PayPal Account

Millions of people from all corners of the world have realised the potential this digital currency holds when it comes to trading and investment. Unlike fiat currencies and other financial trading instruments, Bitcoin’s highly volatile nature and huge spreads have helped its popularity skyrocket over the past couple of years. 

If you’re just starting out in your Bitcoin trading adventure, then the first step is to get your hands on some. You can easily purchase Bitcoin through a secure online platform known as a cryptocurrency exchange. There are now hundreds of these exchanges available online but beware – only a handful are actually worth your time and money! It’s essential to do some research before you start using a digital currency exchange to makes sure it is trustworthy and fully licensed and regulated by relevant authorities.

Once you’ve found yourself a reliable exchange to start trading Bitcoin, your next move is to create an account with them so you can start depositing funds via Paypal to purchase some Bitcoin of your own.

Using a Cryptocurrency Exchange that Accepts PayPal

While most popular cryptocurrency exchanges accept various credit/debit cards and bank transfers, unfortunately, there aren’t that many which accept PayPal as a payment method for buying/selling Bitcoin. 

This is because scammers have found a way to buy/sell Bitcoin using PayPal then claim not to have received anything, leading to chargeback cases, which are highly unfavourable for Paypal. Nevertheless, there are some great options to buy/sell Bitcoin with PayPal, three of which will be discussed below.

eToro

Buy Bitcoin With PayPal on eToro
Screenshots are shown for illustration purposes only. Actual product may vary.

As a well-known social trading platform, eToro has built a name for itself in the traditional asset trading environment. So why choose eToro? There are quite a few valid reasons, here are just a few:

  • Users can buy cryptocurrency with PayPal.
  • It is a global platform expanded to include several cryptocurrency trading services.
  • The platform also supports advanced trading instruments, including the higher-risk crypto CFDs .
  • It’s an easy-to-use platform which is suitable for both beginner and more advanced traders.

Plus500

Buy Bitcoin CFDs with PayPal on Plus500
Screenshots are shown for illustration purposes only. Actual product may vary.

Plus500 offers a range of popular cryptocurrencies, including Bitcoin, Ripple, and Dash. The platform also offers:

  • Detailed crypto graphs 
  • The option to trade using advanced instruments, including CFDs.
  • These instruments allow trading on margin, which have the potential of considerable gains (but also significant losses).

LocalBitcoins

Buy Bitcoin with Paypal in UK from LocalBitcoins
Screenshots are shown for illustration purposes only. Actual product may vary.

As a P2P platform, LocalBitcoins allows you to trade Bitcoin directly from other users. While not all users accept PayPal, you can filter your search to include this payment method, and then select a seller from the ones on the list.

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