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Jun 16, 2020

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10 min

Buy Bitcoin with PayPal: Complete Guide

Buy BTC w/ Paypal cover

Buying Bitcoin does not need to be mysterious or challenging. You can buy Bitcoin with PayPal, provided you know which websites to use to purchase it. This provides convenience as well as added confidence in the transaction’s security. We will tell you where to buy Bitcoin using PayPal, as well as how to store it afterward.


Can You Buy Bitcoin with PayPal?

Not all cryptocurrency exchanges will let you buy Bitcoin with PayPal, even those that accept fiat. However, once you know where to look, it becomes incredibly easy to buy Bitcoin with PayPal. The fees will vary by the exchange that you use, but there are multiple options available to select from.


Best Place to Buy Bitcoin with PayPal

Instead of trying to find places that let you buy Bitcoin with PayPal, we have compiled a list of the top choices.

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LocalBitcoins

LocalBitcoins is among the best choices for buying Bitcoin with PayPal, as well as other payment methods. LocalBitcoins connects buyers and sellers, and you typically get several payment options, including PayPal.

If you buy Bitcoin on LocalBitcoins, be cautious about the seller you buy from. You will be buying from an individual, so you need to confirm their credibility.


Paxful

Paxful is similar to LocalBitcoins but lesser-known. It allows even more payment methods, including PayPal. You will be able to access sellers from around the globe. As with LocalBitcoins, you will buy directly from someone, so there is always a risk of being scammed, which you can avoid by carefully looking at the seller’s statistics.

One exciting feature of Paxful is the ability to let the platform automatically choose the ideal seller for your Bitcoin buying needs. Alternatively, you can browse the sellers and choose one yourself.


xCoins

With xCoins, you technically get a loan of Bitcoins instead of buying them. However, it functions very much like a purchase, which leads to some ambiguity. Keep in mind that you will need to verify your ID to use this website. It would be best if you also kept in mind that xCoins tends to have high fees.


eToro – But You Will Not Own the Coins

If your goal with buying Bitcoin is to invest in the cryptocurrency and not use it in any way, you could use eToro. The very important caveat here is that you will not actually own Bitcoin if you go this route. That is because eToro lets you trade cryptocurrency CFDs, which made you speculate on the price of Bitcoin. Because of this, you should only use eToro to buy Bitcoin with PayPal if you do not plan on using the Bitcoin and want to trade it.


Other Options

Every once in a while, other exchanges and services will pop up that accept PayPal as a payment method. You should always be cautious before using one of these, especially if they are entirely new.

Remember that some of them may be scams, so you should do your research. If you have not heard of the exchange before, read a few reviews to confirm that it is safe and legitimate.


Step by Step Guide

The specific steps to buying Bitcoin with PayPal depends on the exchange or platform that you use to do so. The following shows a step by step guide for some of the best methods.


LocalBitcoins

Step 1. When you go to LocalBitcoins, start by entering the amount of Bitcoins you want to purchase and your country of choice, being sure to specific PayPal as the payment method. You cannot search globally, so you will have to pick a country.

localbitcoins 1

Step 2. Look at the available sellers, clicking on them to view additional information, such as verification, feedback, and the number of confirmed trades. Pay close attention to the account’s age, the feedback score, confirmed trades, and how many people trust or have blocked the seller.

localbitcoins2
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Step 3. Visit the trade screen and confirm that you agree with the terms. You will see the payment method, price, trade limits, location, and payment window. When you are ready, click “Send trade request.”


Paxful

Step 1. Make an account.

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Step 2. Choose PayPal as your payment method and choose how much Bitcoin you want to buy.

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Step 3. Select a seller or let Paxful choose one for you.

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Step 4. Once your trade begins, you and the seller will be put into an online chat to finalize the deal.

Step 5. The seller sends the Bitcoin into escrow.

Step 6. You send your payment and mark it as such; then, the Bitcoin gets released into your account.


xCoins

Step 1. Make an account.

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Step 2. Select the quantity of Bitcoin that you prefer to buy.

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Step 3. Read the loan agreement, including the PayPal processing fee, security deposit amount, lender’s fee, and loan origination fee. Click on the box to show you agree with and accept the loan agreement and click “Continue to Payment.”


Where to Buy Bitcoin with No ID and Verification

If you want to buy Bitcoin with PayPal but do not want to share your ID or undergo a verification process, your options will be somewhat limited. You should also expect to pay a higher fee or worse exchange rate from services that do not require IDs since they take on a higher risk.

Of the above options, you can buy Bitcoin on Paxful, including with PayPal, without submitting your ID or verifying your account. Just be sure to limit your search to offers that do not require verification.


Where to Store Bitcoin (BTC)

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Once you buy Bitcoin, you will need somewhere to store it. Atomic Wallet offers a secure solution for storing Bitcoin as well as other cryptocurrencies, supporting more than 500 tokens in total. It is also highly versatile, as you can download it for Windows, macOS, Ubuntu, Debian, Fedora, Android, and iOS.

Funding Atomic Wallet with your recently purchased Bitcoin is incredibly straightforward so that you can transfer the funds right away. You can even use Atomic Wallet to exchange your Bitcoin for another cryptocurrency if you want to diversify your crypto holdings or need another digital currency. Atomic Wallet has more than 60 crypto pairs that you can exchange anonymously and receive cashback for.

Security is not a concern when using Atomic Wallet, as your private keys always stay on your device and are fully encrypted. You remain in complete control of your funds. Atomic Wallet also allows you to retain your anonymity, as the wallet does not require verification or KYC to access the wallet’s basic features. As a bonus, there is 24/7 live support from the Atomic Wallet team if you ever need any assistance.


Conclusion

Those who want to own Bitcoin do not always want to make their purchases in the same way. While some people prefer to use a debit or credit card or a direct bank transfer to buy Bitcoin, these methods are not for everyone. Several different exchanges offer the ability to buy Bitcoin using PayPal. This way, you can enjoy the security of the payment method and do not need to input the necessary card or bank information.

Several platforms and exchanges let you buy Bitcoin with PayPal, but there are still fewer options available for this purchase method than there are for other payment methods. Even so, you can choose from multiple sites, such as LocalBitcoins, Paxful, and xCoins. When using a platform like LocalBitcoins or Paxful that connects you to an individual seller, look at the statistics that the website provides about the seller to minimize the risk of scams.

Once you have chosen where you want to buy your Bitcoin using PayPal, store the cryptocurrency in a secure, anonymous wallet such as Atomic Wallet. As a bonus, Atomic Wallet can store hundreds of tokens, even letting you easily convert your Bitcoin into another digital currency.

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