Where can I buy bitcoin by PayPal?

In this how-to buy Bitcoin with PayPal guide, I am going to show you five different platforms in which this option is available. I’ll also give you some of the advantages and disadvantages of using each of them.

When Bitcoin was created in 2009, it was almost impossible to purchase during the first few years of trading. This was because there were hardly any exchanges that sold cryptocurrency! Even if you could find a reliable exchange, it was really difficult to find one that accepted real-world payment methods.

visit here to convert BTC to Paypal

Where Can You Buy Bitcoin with PayPal?

It is important to remember that the majority of cryptocurrency exchanges do not accept PayPal. Even a majority of the exchanges that allow you to deposit using fiat currency don't support it.

The main reason for this is the way that the PayPal chargeback policy works. Essentially, when people pay for products using PayPal, they are offered something called "Buyer Protection". This means that if they are not happy with the product they purchased, they can raise a claim with PayPal in an attempt to get their money back.

LocalBitcoins

LocalBitcoins are a peer-to-peer exchange that allows people from more than 200 different countries to buy and sell BTC. It was created in 2012 and its headquarters are in Finland.

The greatest thing about LocalBitcoins is that they support more than 20 different payment methods – including PayPal!

The way it works is simple. If somebody wants to sell their Bitcoin, they list the price that they want to sell it for in their local currency, along with a list of payment methods that they accept. As PayPal is a global payment system, it doesn’t matter which country you choose!

VirWoX

The next option on my list of merchants that allow you to buy Bitcoin with PayPal is a platform called VirWoX. This company was created in 2007, which was two years before Bitcoin was launched!

They specialize in selling something called 'Second Life Lindens', or SLL for short. SLL is a virtual currency that is used in an online game called Second Life. Confused? Stay with me...

The platform allows you to buy SLL coins using PayPal. You can then use the built-in exchange to swap the SLL tokens for Bitcoin. Once you have done that, you can simply withdraw the Bitcoin back to your wallet!

eToro

The eToro platform is a major marketplace where people can buy and sell a range of financial products. This includes real-world currencies (like USD/EUR), commodities (like Gold/Oil), stocks (like Apple) and of course Bitcoin!

EToro was created in 2007 and now has over 5 million customers in more than 170 countries! However, the platform is slightly different as you don't actually 'own' any of the assets that you buy or sell. Instead, you are purely speculating on whether the price of the asset is going to go up or down.

How to Buy Bitcoin with PayPal

LocalBitcoins

1. Visit the LocalBitcoins website by clicking this link.
2. Click on the green Sign up free button and follow the account registration process. I would advise that you enter accurate information as you will be more likely to find a seller that is happy to accept a Paypal payment from you.
3. Once your account is set-up, click on Buy Bitcoins at the top of the page.
4. Enter your local currency value of Bitcoin you want to buy, then select the country that you want to buy from. Although I have selected the United Kingdom, you can choose any country you want. After that, click on the all online offers drop down box and select Then click on Search.
5. You will now see a long list of sellers that will allow you to buy Bitcoin with PayPal. The results are ranked by the price that the seller is willing to accept. Next, to the username, you will also see the total amount of trades that the seller has completed, along with their feedback score.
6. You are now at the final stage before your trade request is sent to the seller. Check that the information is correct, including the rate and the amount you want to buy. On the right-hand side, you will see some individual terms specified by the seller. In this example, the seller is requesting that the buyer has completed at least 30 trades. As I have been using LocalBitcoins for many years now, I meet his terms so I can move on to the next step. If you don’t, simply go back and choose another seller!
7. Now you need to simply click on Send Trade Request.
8. As soon as the seller accepts your Bitcoin with PayPal request, their coins will be locked in escrow. You will be provided with the PayPal address that you need to transfer the funds to. As soon as you have done it, click on Payment Sent.
9. The seller will then be notified that you have sent the payment. They will check their PayPal account and as soon as they see it, the Bitcoin will be released to your LocalBitcoins wallet! You can then simply withdraw them back to your wallet!

VirWoX

1. Visit the official VirWoX homepage by clicking this link.
2. On the left side of the page, click on Not Registered Yet
3. Follow the account opening process. You will need to choose a username and enter your email address, full name, and country of residence.
4. Once you have registered and logged in to your newly created account, click on Deposit on the left-hand side of the page.
5. You will now see a long list of payment methods. Scroll down and look for PayPal. Enter the amount you want to deposit and then click on the Check out with PayPal. You will now be re-directed to your PayPal account to complete the transaction.
6. Your account will now be funded with your chosen currency (mine was USD but it could also be EUR). Next, look for Exchange on the left hand of the page and then click on USD/SLL (or EUR/SLL).
7. Exchange your USD/EUR for SLL coins at the best market price. This should be completed instantly.
8. Now that you have SLL coins in your account, click on BTC/SLL which is on the left-hand side underneath
9. Exchange your SLL coins for Bitcoin at the best market price. Again, this should process instantly.
10. Your account is now funded with Bitcoin. Now you can withdraw them to your Bitcoin wallet!

eToro

1. Visit the official eToro homepage by clicking on this link.
2. At the top of the page, click on Get Started, followed by Sign Up.
3. Follow the account opening process, which will require you to enter your full name and email address. You will also need to choose a strong password.
4. Once your account is set up and you are logged in, click on Deposit Funds. Enter the number of funds that you want to deposit and then select PayPal. You will be re-directed to the PayPal website. Log in to your PayPal account and complete the transaction.
5. Now that your account is funded, search for Bitcoin at the top of the page and then click on Trade.
6. Enter the amount of Bitcoin that you want to buy in your local currency, then click on Buy. Don't forget, you do not own the Bitcoin that you have just bought. You are simply betting on the price going up or down.

Buy Bitcoin with PayPal: Conclusion

And that’s the end of my ‘Buy Bitcoin with PayPal’ guide! As you now know, trying to buy Bitcoin with PayPal isn’t as easy as using other payment methods, such as a debit/credit card or bank account. However, it is most certainly possible.

Each of these exchanges has its pros and cons — it all depends on what you are looking for. However, if you are simply looking for an exchange with the lowest fees, then I would suggest LocalBitcoins. Just make sure you only open trades with reputable traders. If you're looking for a place to buy Bitcoin with a credit card, see my guide here.