Buy Cryptocurrencies With Your PayPal Account? Two Ways To Exchange Your PayPal Money Into Crypto

Would you like to buy Bitcoin or STEEM with your PayPal account?
(deutsch)

If you have ever tried to buy any cryptocurrency with Palpal you might have noticed that this is not possible for most of the cases, exchanges simply do not offer to pay with PayPal for several reasons. Mostly because of PayPal having regulations which do not support trading cryptos and also to prevent any fraud with PayPal accounts. However it is still possible to buy cryptos with your Paypal money, but it will cost more fees than buying with your credit card, banking account or with cash.

You rather want to save those fees and buy Bitcoin with your banking account or credit card? Then I recommend you to use Coinbase or Spectrocoin.

If you prefer to buy cryptos with your PayPal account here is what you can do:

1. Ebay

You can simply buy Bitcoin or even STEEM on Ebay from some private sellers, make sure those sellers have at least some validation in from of recent positive ratings. I would not advice you to buy from sellers with less than 200 positive ratings. Also you have to make sure to search for “buy BTC” or “buy LTC” to find what you need since Ebay gives sellers a hard time, they are blocking the term Bitcoin in the descriptions for example. I found only a few items from even fewer sellers since this seems to be a new thing on Ebay. I tried it for myself and bought 0.01 BTC from this seller. Items there might be a little bit pricey since there is a 10% Ebay fee + 3,5% PayPal fee involved, but it is very easy to purchase cryptocurrencies with your PayPal like this.

The second method is a little more complicated.

2. Virwox

Basically Virwox is a trading Platform designed around second life Dollar (SSL). You can charge your account with PayPal and then trade your money into SSL, in the next step you can trade your SSL for BTC. It is still a bit pricey with over 10% fees in total for the whole process. Here is a quick four-step guide on how this works:

Step one: Create account

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After you have created your account you will have to use the verification link send to your email and log into your account.

Step two: Deposit money with PayPal

Click on deposit

scroll down a bit and choose PayPal Express Checkout, enter the amount you want to deposit, click checkout with PayPal and log in to your PayPal account.

Step three: Buy second life dollar

Now you will need to buy SSL with your deposited PayPal money. In the exchange field click on USD/SSL or EUR/SSL in case that you are using EURO.

You will see some charts and the current price for SSL, this works just like any other exchange with prices constantly changing.

Next you enter the amount of USD or EUR that you are selling click next, confirm your transaction and wait for your order to be completed. You will then own some SSL.

Step four: Buy Bitcoin for SSL

Again in the exchange area, click on BTC/SSL.

Enter the amount of BTC you want to buy, click next to verify your transaction and again you have to wait for your order to be completed and finally got your BTC.

You can now withdraw your BTC by clicking on withdraw.

Enter the amount of BTC you want to withdraw, enter your wallet address and click the “Request Withdrawal” button.

You will have to wait for your first withdrawal request for it to get confirmed manually by Virwox. This takes up to 48 hours but will only be necessary on your first transaction.

I hope this is helpful if you want to convert your PayPal money into BTC or STEEM.

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