How to Buy Bitcoin with PayPal

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How to Buy Bitcoin with PayPal

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 it was just a few short years ago, when the only way to get it was to mine it yourself. Nowadays, people can easily buy and sell Bitcoin with no previous trading experience whatsoever.

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. Read on to find out how you can easily buy and sell Bitcoin with PayPal.

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 Bitcoin.

The reason for this is that scammers have found a way to buy Bitcoin using PayPal then claim not to have received anything, leading to chargeback cases which as you can imagine, are highly unfavourable for Paypal.

Luckily, San Francisco-based exchange Coinbase is one reliable operator that does indeed allow its users in the EU and US to link their Paypal accounts to its platform to deposit and withdraw funds, easily and securely.

Here’s how simple it is to buy Bitcoin from Coinbase using your PayPal account:

  • Create your Individual user account on Coinbase by signing up here and filling out your details
coinbase account
  • Activate your account through the link received in your confirmation email
  • Submit any identity verification documents required such as photo ID and proof of address
  • Once logged in, click the ‘Buy/Sell’ link and select the Buy tab
  • Select ‘Bitcoin’ from the ‘Cryptocurrency’ menu
  • Select PayPal as your desired payment method
  • Enter the amount you wish to purchase, either in Bitcoin or in your local currency and click ‘Buy Bitcoin’
  • Once you hit the ‘Confirm Buy’ button to place your order, you should see the ‘Your Purchase was Successful’ message displayed on your screen

And that’s about it! The Bitcoin should appear on your Coinbase wallet instantly so you can start making some profit.

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