Buy Bitcoins With PayPal

Yes, you can buy bitcoins with PayPal, this is the good news. The bad news is that none of the options listed below is elegant, cost-effective and straightforward.

The simple reason why it’s difficult to buy bitcoin with PayPal is that a PayPal payment is reversible and bitcoin payment is not. In other words, you can’t directly buy bitcoins using PayPal, because it is too risky for the seller. Best bitcoin exchanges do not allow funding through PayPal at all. This is largely due to repeated cases where someone pays for bitcoins with PayPal and receives cryptocurrency. But then fraudulently complains to PayPal or their credit card company that they never received the goods. All too often PayPal agrees with the fraudulent buyer, and this is understandably too risky for bitcoin seller.

As always, there is a workaround that you can use to buy bitcoins with PayPal, but it holds within quite high transaction fees.

Buy bitcoins with PayPal via VirWox recommended option

This is the most popular way for a long time now, but not the easiest though.

You need a free account on Virtual World Exchange. Using the VirWox you can buy another currency, that is Second Life Lindens (SLL) with PayPal. Then convert your SLL to bitcoins. The reason this method works is that you do not buy bitcoins with PayPal directly, you only buy SLL with PayPal and then exchange your SLL to bitcoin.

The whole process will cost around 6% in transaction fees altogether but will let you purchase bitcoins pretty quickly as opposed to a wire transfer. They do not accept payments from unverified PayPal accounts, and there is a limit on how much coins you can buy at once (starting with 88$ per day).

If you already have a PayPal account, this is a swift, convenient and secure way to buy bitcoins. Don’t get discouraged by 1990 look of the website as it works (it is German). You do not have to enter any additional information and no financial information such as credit card numbers or bank accounts. No id is required.

Buy bitcoins with PayPal via LocalBitcoins

LocalBitcoins is a marketplace for trading bitcoins locally to cash or online payments of your choice. Regarding buying bitcoin with PayPal, you need to find a seller that is willing to make the trade. Trading happens between online personas and the site has a built-in reputation system, so you can always deal with high reputation individuals (users involved in fraud and chargebacks are filtered out). You will pay about 15% fee to the seller.

Some sellers will require you to have an initial reputation to buy from them (so they can avoid scams or fraud too). This means that sometimes you will have to make some small transaction to build the reputation. A few sellers will also require your ID for the first purchase or other personal information.

Buy bitcoins with PayPal via Paxful

Similar to LocalBitcoins is Paxful. It is a marketplace for buying bitcoins directly from other people. You pay sellers directly from your personal accounts.

The problem with Paxful sellers is that you will pay about 25% in fees for buying bitcoin with PayPal. The positive side of this platform is that if you are a buyer, you are 100% protected.

They verify and check all of the sellers for your safety. Pay with confidence, 2-factor, escrow, highest level encryption and professionally audited security. Most of the sellers will require your ID for the first purchase or some other personal information.

Buy Bitcoins with PayPal via lending site xCoins

One trick to get bitcoin instantly via PayPal is to get a secured loan (another word for “buy”) that you can get at bitcoin lending site xCoins. You can safely ignore the borrowing/lending wording at the page, as this is probably just semantics to avoid regulatory issues that are more strict if you operate as an exchange. Using this system is pretty much risk-free, and it is quite possibly the easiest place around to purchase BTC with PP quickly.

Buy bitcoins with PayPal via PayPal debit card

Another indirect method is to use a PayPal debit card. It is more complicated and is suitable for those who are planning to make purchases more often.

This method allows you to use funds which are in your account but without using PayPal itself as your payment method. It is good because you do not need to worry about opening up accounts on third-party websites to buy bitcoin. You are only dealing with PayPal and whatever exchange you intend to use.

This method is only available to people who live in the USA. You generally need to have a business account to get a debit card from PayPal (also is if you have a personal account which has received a minimum of $500 within the last year).

Trading platform Cex.io, one of our favourite platforms, recommends this method, and it should also work on other sites which accept debit or credit card as a payment method to purchase bitcoin.

Related

  • From time to time, you can purchase cloud mining with PayPal. During the duration of your contract you will receive bitcoins for your money with some extra profit (or loss). Eobot accepted PayPal payments in the past (currently they don’t), but please do note that this is a long-term investment and you can not get your bitcoins instantly this way.
  • If you want to sell your bitcoins to PayPal, check our bitcoin to PayPal guide.
  • Some users claim, that the best way to buy bitcoin with PayPal is that you simply withdraw money from your PayPal to bank account and then buy bitcoins with bank account. If you have a bank account and can withdraw PayPal funds, we suggest this option. If you can’t withdraw, the best options are listed above.
  • There are many scam exchangers, so please do not just buy bitcoins through the first link that appears in google.
  • From time to time, you may also buy bitcoins on forums, like bitcointalk.org or reddit from trusted forum members.
  • You may want to check also other options to buy bitcoins

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36 thoughts on “Buy Bitcoins With PayPal”

    1. As far as we are aware, there are no other reliable sources to buy bitcoin with paypal. There are a few dodgy places, but we are not going to list them.

  1. So, erm, what’s the purpose of alternate currency if you cannot exchange or purchase it readily?? Also, a single bitcoin is inappropriately costly for nominal folks. $300 for a SINGLE BitCoin??? And ZERO recourse or liquidation options??

    This is a racket not unlike the Federal Reserve, IMO.

    1. In view of the article, Virwox works well, I use it all the time. In view of Localbitcoins, the article is a touch mistaken saying it’s only person to person, this implies that it has to be done face to face, which is incorrect, you can do online transactions AND meet face to face if you so wish.

  2. yes they accept paypal.. i exchange almost everyday.. just follow the steps.. open and acct with virworx, deposit using paypal.. exchange ur surrency to SLL then from SLL to BTC.. send btc to your wallet.. thats it!

    1. First, you will be charged to deposit money into your account from Skrill, that is about 0.39 Euro plus 3.5%. Then you will be charged 2.9%+ to buy SSL. Another 2.9%+ to convert it to bitcoin.
      And finally, 0.005 bitcoin when withdrawing, which is currently about 1$. Lets say you change 100$ – that will cost you roughly about 10$.

  3. Hi everyone,
    I use Virwox and it’s very good, my only problem is that I have a limit of 88 USD that I can deposit in my account. Can anyone help me and instruct me how to change that and be able to deposit more via paypal? Thanks in advance.

  4. lol I call Bullshit I just tried it…yeah you can BUY SLL with BTC but theres NO SLL/BTC market….try again

    1. What exactly are you trying to achieve? This page is about buying bitcoins with PayPal, not selling BTC to PayPal.

  5. HI

    try to purchase from my paypal account but not supported saying some issue in card were as i had done several transaction through paypal in Revenue sharing websites .

    1. Yes, you can do that easily. Although sometimes they manually review your withdrawal and it takes a few hours.

  6. I cannat deposit virvow with paypal. I have paypal balance but it tries to get it from my credit card. How can I solve this?

    1. Do you have enough balance on your PayPal? Usually, if you have enough balance, it tries to take money from the balance first and then credit card if there is not enough money.

  7. i am merchant looking for payment gateway which is purely based on bitcoins with instant credit card purchase without verification from customer end, is there anyone avail with this facility.

  8. There has to be a better way. I just tried to to this and my paypal became limited. Was just trying to buy a small amount as a test. Any one have any ideas or problems with this before?

    1. From august to november it is too much time to implement changes for PP especially when all internet is singing along Pp->VirWox -> SLL >Btc song.

  9. You should add ATOMBIT Wallet to the list. iOS only for now, but you can buy up to 1 BTC/day with a verified PayPal account. There’s no verification process other than an email for the first purchase, and bitcoins are delivered straight to the phone in minutes.

  10. localbitcoins this will change your life. you get instant bitcoins with mannnnyyyy different options to pay, including paypal. Super easy to do. Get BTC in 10 minutes or less easy. don’t be fooled by the name ‘local’. It is mainly online transactions.

    1. I am extremely skeptical, will test it for you. Statements like “Coinsfast and PayPal Partner to Create the Future of Bitcoin Trading” are a red flag.

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