Buy Bitcoins With PayPal

The good news is that buying bitcoins with PayPal is possible. The bad news is that none of the options listed below is elegant, cost-effective and straightforward.

In general, you can’t directly buy bitcoins using PayPal, because it is too risky for the seller. Major bitcoin exchanges do not allow funding through PayPal at all. This is largely due to repeated cases where someone pays for bitcoins with PayPal, receives bitcoins and then fraudulently complains to PayPal or their credit card company that they never received the goods. All too often PayPal sides with the fraudulent buyer and this is understandably too risky for bitcoin seller. But there is a workaround that can be done in order to use PayPal to buy bitcoins but it holds within quite high transaction fees.

Buy bitcoins with PayPal via VirWox recommended option

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

If you already have a PayPal account, this is a very fast, convenient and secure way to buy bitcoins. You do not have to enter any additional information and no financial information such as credit card numbers or bank accounts.

Buy Bitcoins with PayPal via lending site xCoins

Another way to get bitcoin instantly via PayPal is a secured loan (another word for “buy”) offered by 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. For buyers, the system is pretty much risk-free and, because of the automation, is simple and quick to use. It is quite possibly the easiest place around to purchase BTC with PP quickly.

Buy bitcoins with PayPal via LocalBitcoins

LocalBitcoins is a marketplace for trading bitcoins locally to cash or on-line payments of your choice. In terms of buying bitcoin with PayPal you need to find a seller which is willing to do the sell. Trading happens in-person 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 weeded out). You will pay about 15% fee to the seller.

Some sellers will require you to have an initial reputation in order to buy from them (so they can avoid scams or fraud too). This means that sometimes you will have to make some small transaction just to get the reputation. Some 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 good 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 at trading site LakeBTC

If you can wait 30 days, another option to purchase bitcoins with PayPal is bitcoin trading site LakeBTC. Although they support a huge amount of traditional currencies as a deposit option, only US Dollar PayPal payments are accepted.

First, you need to create and verify your LakeBTC account. Then you deposit USD into your account via PayPal, with deposited USD you can buy and trade bitcoins. Important: USD funds credited to your LakeBTC account via PP will be available for buying immediately, but withdrawals and payments with your newly acquired bits will be available 30 days later. The fee is very high for this kind of transaction – a bit more than 10%.

Buy Bitcoins with PayPal via Wirex

There is also a way to get bitcoins with PP with a workaround, offered by Wirex virtual Visa card! First, get a virtual Visa debit card from them (redeem your first card for free). Then you need to link your verified Wirex virtual debit card to PayPal. After that withdraw funds from PayPal to your Wirex virtual debit card. Now that you have withdrawn funds from your PayPal account onto your card, you can buy bitcoin. Once the funds have cleared, log into your Wirex account again and select buy bitcoin.

Buying bitcoins via PayPal indirectly

Indirectly, you can purchase cloud mining facilities with PayPal and in time you will receive bitcoins for your money with some extra profit. Eobot accepted PayPal payments in the past, but please do note that this is a long-term investment and you can not get your bitcoins instantly this way.

Related

  • If you want to sell your bitcoins to PayPal, check our bitcoin to PayPal guide.
  • You may want to check also other options to buy bitcoins
  • 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.
  • Untested services (use at your own risk): Cryptonit (about 10% fee, verified users only), WeSellCrypto (they must be kidding with +18% fee), Quebex (canadian and UK users only).

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 fuckin 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 fucking BitCoin??? And ZERO recourse or liquidation options??

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

    1. You can put Bitcoin into a bitcoin debit card and it turns it back into dollars or into whichever currency your card is denominated with. You can even put Bitcoin into gold now.

      The purpose of an alternate currency is that it isn’t controlled by banks, and cannot be confiscated by governments. When you ‘have’ money in the bank, you do not actually have money, the bank has a contract with you to pay you that amount should request it, but legally they don’t have to. NOT AT ALL.

      Last year in the UK banks such as the HSBC started putting caps on how much money a person could withdraw. Over a thousand pounds (if memory serves me) and you had to give a written reason as to what you are going to do with it! Your ‘own’ money. They can do this because it’s in the legal contract. Money is nothing but a contract that banks can default on if they so wish.

      Historically, this is one of the first signs of hyper-inflation and a country’s lack of confidence in its own currency (which isn’t it’s ‘own’ currency either – it’s made by the Feds or The Bank of England… neither of which are accountable to the governments or the people – contrary to popular belief.)

      A country’s fiat currency is more or less done when they put in place restrictions on moving the money out of the country (during inflation/hyper inflation.)

      These are the historically provable accurate signs of economic collapse:

      1. Quantitive easing (we have it)
      2. Currency withdrawl restrictions from banks (we have it)
      3. Governments confiscating assets/money from citizens (Greece has it)
      4. Moving money out of the country regulations (Not yet – but everyone wants to try to do this when the sh*t hits the fan, but by this stage, it’s too late)

      Game over.

      So, in answer to your question, this would be why people want a decentralized form of exchange called Bitcoin that is not owned by any bank or recallable by any one institution.

      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. I want to buy bitcoin from credit card possible?

    Also I am in Pakistan Lahore I want to work with you people I can be your agent in Pakistan to sell buy bitcoin any possibility ?

    Khalid Shah
    +92 300 9462916

  10. 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.

  11. 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.

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