PayPal has remained at the forefront of the digital payment industry for more than 20 years. Last year PayPal clients finally got an opportunity to buy bitcoin with Paypal right in the app. However, the conversion and transfer of crypto coins may be a difficult and confusing process for beginners.

About PayPal

This platform enables users to buy goods and send money internationally without revealing their identity or using credit cards. Another reason for its popularity is the Buyer Protection program. If an item doesn’t arrive or doesn’t match the description, the service reimburses the full cost of the purchase, including delivery costs.

The development of the digital asset market contributed to the emergence of a new function on the platform. Mobile and online payment systems allow users to buy, sell and hold coins. PayPal protects relevant transactions from fraud if the payment is made in bitcoin.

BTC can be exchanged on special trading platforms. Before choosing the exchanger, you need to evaluate the following criteria:

•  BTC price. The benefit of the transaction depends on the bitcoin stock price.
•  Support for the required payment service.
•  Availability and reserves of the chosen virtual asset.
•  Identity verification requirements.
•  Traders’ reviews about the platform.
•  Ways of concluding the transactions with the seller.

By taking into account these factors when choosing the exchanger, the user can find the service offering optimal conditions of how to buy bitcoin with PayPal.

How to buy and sell cryptocurrency?

Step by step process:

• Go to the website of the exchange that accepts PayPal (for example, Coinbase).
• Create and verify your account.
• Add a payment method in the account settings.
• Select the amount of BTC you want to buy.
• Choose the payment method.
• Familiarize yourself with the fees.
• Carry out the transaction.

The sale of coins is performed in the traditional way.

The money received from the sale of coins can be transferred to the bank account, debit card, or balance of the payment service. Please take into account the fee amount and the available withdrawal options.

People purchase BTC for different reasons. First of all, this is an advanced money system, which is much better than the one we’ve used for ages. It is entirely fair, since it depends not on the central authority but on the mathematical formulas embedded in the code. Everyone is equal in the bitcoin network- there are no users with privileges.

Secondly, bitcoin is a good option for diversifying your portfolio. Despite the high volatility of this asset, it shows an upward trend in the long term. BTC is becoming more and more recognized and accepted as a payment method. Of course, due to volatility, it is difficult to predict how much bitcoin will cost even in a month. Therefore, we don’t recommend you to invest all your savings in BTC. However, it is a good option for diversifying your portfolio. Before purchasing BTC, you should carefully weigh all risks and benefits of this decision.

The main ways to buy bitcoin with credit card

Let’s consider the most popular methods of buying bitcoins, which are suitable for both beginners and experienced users. Choose the one that best suits your requirements.

Exchanges

Almost all top cryptocurrency exchanges allow BTC purchasing with credit cards. But to do this, you need to verify your identity. This is a result of a strict anti-money laundering policy. This verification includes the confirmation of passport data, photo, address, and (in some cases) payment card. After passing the verification procedure, you need to replenish your exchange account with a credit card and then purchase bitcoin or other digital assets. Please note that some exchanges charge a top-up fee.

Exchangers

Speaking of exchange services, bank cards are one of the most popular methods to exchange currency. All exchangers work in almost the same way. You choose the desired currencies and fill out an application, indicating the address of your BTC wallet, then pay for the application with a credit card and wait for the BTC to be credited to your wallet (which may take some time due to the high workload in BTC blockchain).

As a rule, the fee is included in the exchange rate, which means that you get the amount indicated in the application. However, some exchangers may charge additional fees.

p2p exchange platforms

P2P exchange platforms enable users to exchange assets with each other on their own terms (and not on those set by a centralized body). These platforms provide functionality for creating offers, where users themselves can choose the desired payment method, exchange rate, etc. Other users use the search filters to find the deals that meet their requirements and respond to them. At the time of the transaction, the cryptocurrency is frozen on a special escrow account, and the buyer transfers fiat money directly to the seller’s credit card. When the seller confirms that they have received the payment, the bitcoins are released and transferred to the target address. Most of these platforms charge a transaction fee only from users who create ads.
To buy bitcoin with credit card is very simple and convenient. However, the main drawback of this method is a lack of anonymity (since most services require proof of identity or card ownership). Choose only safe and time-tested platforms with a good reputation and protect client confidentiality.