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.
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.
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. Nevertheless, there are some great options to buy Bitcoin with PayPal:
As a well-known social trading platform, eToro has built a name for itself in the traditional asset trading environment. Today, the global platform expanded to include several cryptocurrency trading services, including the ability to buy cryptocurrency with PayPal. Furthermore, the platform also supports advanced trading instruments, including the higher-risk crypto CFDs. The eToro platform is easy to use and suitable to both beginners and more advanced traders.
Offering a range of popular cryptocurrencies, including Bitcoin, Ripple, and Dash, Plus500 makes buying crypto with PayPal easy and straightforward. The platform also offers detailed crypto graphs and the option to trade using advanced instruments, including CFDs. Such instruments, which allow trading on margin, have the potential of considerable gains, but also significant losses.
As a P2P platform, LocalBitcoins allows you to buy and sell 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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