Is it possible to buy Litecoin with PayPal?

Although there are now hundreds of different cryptocurrency exchanges that allow you to buy, sell and trade Litecoin, hardly any of them accept PayPal!

Why it is Difficult to Buy Litecoin with PayPal

Cryptocurrency exchanges don’t seem to like PayPal because of the risks involved.

One of the main reasons for this is that PayPal has something called ‘Buyer Protection’. This allows the buyer to request a refund if somebody sells them something that doesn’t match the description. In most cases, PayPal favors the buyer. This means that the seller has no choice but to refund the payment.

In the case of buying Litecoin and other cryptocurrencies, there is no sure way to prove that the seller sent the coins. This means that the buyer would pretend they never received them and then request a refund from PayPal!

Click for convert bitcoin to usd

 instant exchange

As a result, merchants often charge higher fees to protect themselves from a chargeback! Therefore, it is important to remember that the options I am going to give you are much more expensive than using other payment methods!

So, now that you know why it can be difficult to buy cryptocurrencies using PayPal, the next part of this 'buy Litecoin with PayPal’ guide will look at where this is possible.

Where can you buy Litecoin with PayPal?

LocalBitcoins

The first option I wanted to discuss with you was LocalBitcoins. They are a peer-to-peer exchange that allows you to buy and sell Bitcoin directly with other users. Based in Finland, they were first launched in 2012 and now serve customers in more than 248 different countries!

When you access the platform, you will find a long list of individuals that are looking to sell their Bitcoin, with the price that they are happy to sell it for and their preferred payment method.

The process is really simple. Once you find a seller that is happy to accept PayPal, you enter the amount you want to buy and once the seller accepts, they will then send you their PayPal address. At this point, the Bitcoin is locked within the platform and it is released as soon as the seller can see you have paid!

VirWoX

Created in 2007, VirWoX is a platform that allows people to trade a digital coin called ‘Second Life Lindens’ (SLL). This coin is a currency that is used in a game called 'Second Life' and it allows players to buy a range of virtual goods.

It is not a cryptocurrency like Bitcoin or Litecoin, and it can’t be used anywhere other than in the game. You might be wondering why I am telling you this!?

Well, the VirWoX platform also allows people to trade Bitcoin too! And guess what? It also accepts PayPal!