After seeing the potential of Bitcoin to protect money from currency devaluations or to make investments expecting a price increase, many are wondering how to buy bitcoins with their PayPal accounts.
Currently there are different exchange houses or exchanges that allow you to buy bitcoins with the available balance in a PayPal account, or change bitcoins to receive balance in PayPal. However, it should be noted that if this type of transaction is made through a bureau in which BTC or PayPal balance is purchased from another person, you should know that PayPal allows charges to be returned while Bitcoin does not. . So getting someone who makes a fraudulent chargeback through PayPal is possible, instead Bitcoin would be an agreement between parties.
Below is a list of exchange houses that allow you to buy and / or sell bitcoin or cryptocurrencies using a PayPal account.
COINBASE
It was founded in June of the year 2012 and has its main headquarters in San Francisco, California. It is one of the most famous digital wallets in the market and also offers bitcoin and ethers exchange services. In the month of June the company announced the expansion of its payment options by allowing its customers in the United States to use PayPal to receive balance in their accounts for the sale of bitcoins, this feature is in trial period although the company plans to provide the same service to the users of the 33 countries to which they provide their exchange platform.
When making the sale of cryptocurrencies through Coinbase using Paypal, the operation is carried out instantaneously. That is, there is no waiting time to send the cryptocurrencies more than the time it takes for the network to verify the transaction. The commissions of this exchange house for purchases with PayPal is 3.99% of the total amount.
BITPANDA
Initially called Coinimal, this Austrian startup specializes in the purchase and sale of bitcoins, ethers and NXT cryptosomes. It was founded in October 2014 after the coordination with the Austrian authorities allowed the creation of the company.
Although the Bitpanda platform does not have the option to buy cryptocurrencies with PayPal balance, you have the option to sell cryptocurrencies to obtain PayPal balance in Euros. The estimated time of the transaction is 12 hours and the commissions for transactions are stipulated by the Paypal policies.
CRYPTONIT
Cryptonit is a startup based in the United Kingdom and is dedicated to the exchange of digital currencies. In addition, the company works closely with the Financial Services Authority of the United Kingdom (FCA). The company is registered correctly under the legal parameters of the British state.
The platform allows you to deposit PayPal balance to the user account in Cryptonit and then proceed with the purchase of the cryptocurrencies, however, the commission for making deposits in the account in dollars or euros is 9.8% of the total amount. However, when it comes to withdrawing the money or selling cryptocurrencies on the platform to receive it in PayPal accounts, the commission will be 2% of the total amount.
In addition, the minimum amount to withdraw is 10 dollars or euros, and the maximum amount is up to 2,500 dollars or euros. The average time for transactions with PayPal and the platform is 4 days.
EXCHANGEMYCOINS
This company based in Denmark allows its users to exchange Bitcoin to PayPal without commission and almost instantaneously. After the Bitcoin network confirms the transaction, the platform makes the exchange and the user receives the dollar amount in his PayPal account.
One of the biggest advantages of ExchangeMyCoins is that the platform does not require registries to perform operations, which allows them to be done anonymously. The maximum amount that can be exchanged to PayPal is $1,000.
PAXFUL
This North American company provides a platform where its users can create offers to buy and sell bitcoins, having as one of the payment methods just PayPal. The users who make the offers in Paxful stipulate the exchange rate and the form of payment they wish among the list of available options, for which reason the purchase of bitcoins must be made to someone who uses PayPal as payment method.
The platform commissions are only 1% of the transaction amount for the seller, leaving the buyer exempt from such commissions.
VIRWOX
VirWox is one of the most popular pages in the exchange of PayPal balance by cryptocurrencies, however, if you want to get bitcoins easily and quickly you must be careful. The platform bases its operations on Linden dollars, a currency known for being used in the Second Life video game, so when you buy a cryptocurrency in this space, you acquire the Open Metaverse Currency (OM ¢), which although it is a virtual currency, is also used to buy and sell goods or services in virtual environments.
The commissions on that platform are charged according to the payment methods used, in the case of PayPal can be determined on your website. For more information on the VirWox platform, we invite you to read their page of frequently asked questions and answers.
LOCALBITCOINS
The company was founded in 2012 and its main headquarters are in Finland. LocalBitcoins is a bitcoin exchange platform from person to person, that is, the users of the site publish ads that specify the exchange rate and payment methods, PayPal being of course available for the purchase and sale of bitcoins.
The platform allows users to do exchange business with people from all over the world, however, due to PayPal's chargeback policies, care should be taken when performing this type of operations on the page.
LocalBitcoins offers an integrated user protection service that wants to sell bitcoins, which are stored in a secure portfolio and whose amount is released once the user receives the payment. Commissions are just 1% of the total amount of each operation once the user places a sales announcement on the platform.
Very nice summary of options
thanks friend
Thanks for these. Twas wondering about this. Coinbase sounds like the most well known among Americans, though, I think.