Buying Bitcoin can be tricky at times, especially when doing it through PayPal. This is because PayPal is credit while Bitcoin is more like cash. In the event someone buys Bitcoin and later decides to dispute the sale, PayPal will have no way of knowing if the transaction actually happened, resulting in the reversal of transaction. So, the company is always super cautious towards making Bitcoin transactions and doesn’t allow any coins for PayPal credit.
But don’t worry. We are living in 2017 – the age of the internet. There is always a way to do something indirectly if there isn’t a direct way to do it.
In this post, we have discussed some tips and tricks that will help you exchange Bitcoin with PayPal credit.
Give each a solid read.
Trading SLL (Second Life Lindens):
This one is quite tricky. More like a workaround. In this method, instead of transferring bitcoins through PayPal which is not allowed, you will be buying a different cryptocurrency, one that is allowed, and then trade it for Bitcoin.
One of those currencies is Second Life Lindens (SLL), which can easily be bought through a website called Virvox via PayPal credit. Once you have SLL, your next move should be going to an SLL/BTC exchange and exchanging it for Bitcoin.
Here are the steps involved in the process:
- Go to Virvox and open an account.
- Deposit money in your account with PayPal.
- Buy SLL.
- Exchange it for Bitcoin.
- Withdraw your bitcoins.
The only downside of this method is that it’s slow and involves higher fees.
Buying Through Local Bitcoins:
Local Bitcoins is another option that can help you buy Bitcoin with PayPal credit. The website allows you to buy cryptocurrency from a local seller or an online vendor. But since you will be paying in PayPal credit, you can get in touch with vendors from all over the world.
However, when dealing with someone on Local Bitcoins, make sure you understand their policy and are ready to comply. Some sellers are overly strict and may end up turning into an ordeal for you.
Pro Tip: Always buy coins from an experienced and a well-reputed seller on Local Bitcoins.
PayPal Debit Card Holders Can Also Use This Method:
The US residents can easily issue themselves a PayPal debit card. The card makes it extremely easy to buy Bitcoin with PayPal on lower fees. To get the card, all you need to do is go, open an account on Circle and make sure that your debit card is connected to your profile.
From now on, every time you buy Bitcoin, the charges will be deducted from your PayPal credit.
Lastly – Don’t Let Yourself Become a Victim of Scams:
These three are the best options to buy Bitcoin with PayPal. Although you will come across many other sites claiming to be selling Bitcoin with PayPal, most of them are scams. Beware of them and stay safe. Good luck!