Although you can’t directly convert bitcoin to PayPal money, some of the exchange services will do this conversion for you. These exchanges act as an intermediate and thus making bitcoin to PayPal exchange possible.
The most important bitcoin exchanges do not provide the service of exchanging bitcoins into USD or EUR and then making a fiat withdrawal to your PayPal account. But some niche exchanges and payment services have now found a solution to this problem. Some of them do have quite high transaction fees though, so choose wisely. How can you sell bitcoin to PayPal? We have the answers.
Convert Bitcoin To PayPal on Exchanges
You need a free account on Virtual World Exchange. Using VirWox you can quickly sell bitcoins to another virtual currency, that is Second Life Lindens (SLL). Do this first and then convert your SLL to USD or EUR and withdraw to PayPal account.
The reason this works is that you do not sell bitcoin to PayPal directly, but you only buy SLL with bitcoins and then exchange your SLL to PayPal. A handling fee of 1 EUR/USD + 2% per withdrawal is charged and some other conversion fees. While most withdrawals to PayPal account are processed instantly, they manually check some transactions for security reasons.
xCoins provides another way to transfer bitcoin to PayPal. They do it by offering a secured bitcoin loan. Although it is officially a lending site, it more works like buy/sell bitcoin to PayPal service, and you can easily ignore the loan terminology. You will need a working PayPal account to accept loan security deposits plus your interest fees.
Many people report good service overall, but fees are much higher than at LocalBitcoins described below.
This is a marketplace for trading bitcoins locally for cash or online payments of your choice. As all trading on this platform happens between online users, you need to find a seller that is willing to convert bitcoin to PayPal by browsing on-line trade listings and negotiate the terms of buying/selling process.
As a PayPal account holder, you usually pay PayPal the fees. The buyer will often release funds instantly and will ask no “why” questions. The site provides a built-in reputation system, so you can always deal with high reputation individuals that already made hundreds of transactions.
It sounds complicated but isn’t that much. Just make an account and see for yourself how to withdraw bitcoin to PayPal. Similar service is also offered by Paxful but with less sellers and higher commissions.
Paybis is a digital and cryptocurrency exchange, founded in 2014. It offers a wide range of payment methods to buy, sell or exchange cryptocurrency. We were skeptical at first, but this exchange has excellent reviews on Trustpilot for their services.
The problem with them is that their fees are quite high, expect to lose 10.5% of your bitcoin value. They also send PayPal funds as for goods and services (Paypal will take regular fees for receiving funds). Expect that they finish the transaction within 24 hours as orders to convert bitcoin to PayPal are not instant.
Verified Coinbase users are now able to sell BTC and have their USD funds deposited to a PayPal wallet. To get started, visit the payment methods page on Coinbase or tap Settings and then Payment Methods on iOS or Android. There is a fixed fee for this service.
Convert Bitcoin To PayPal on Forums
We list this option last with the reason. Yes, you can also sell bitcoins to get PayPal on internet forums like Bitcointalk marketplace, but you need to be really careful who are you trading with.
As you are probably aware, bitcoin offers some level of anonymity, and with its one-way transaction feature, there is not much you can do if the seller does not deliver funds. PayPal is also notorious for freezing accounts of people who use it for bitcoin conversions, so do not shout out loud that you are doing that. When doing business on forums, we suggest you to use escrow service within the specific forum or by using an outside service to avoid potential problems. At least do a small test transaction first.
- Are you actually looking to buy bitcoin with your PayPal? Look no further, we have the best guide for buying BTC with PayPal around. Choices for buying bitcoins with your PayPal money are unfortunately much more limited.
- Bitcoin makes services like PayPal more accessible for anyone worldwide. You don’t need a bank account or a credit card to fund your PayPal account with money and selling bitcoins through PayPal makes that happen!
- We advise you to be very careful when you find a service that is not listed above. There are many scams around. When we tested services for you, we been scammed too. If you send someone your bitcoins, you might never receive funds to your PayPal!
- There are many other options to sell bitcoins.
- We did not review and test some of the providers, use them at your own risk. On the list: Cryptex24 and Unichange.
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