How to Buy Bitcoin with PayPal

The popularity of crypto currencies has increased over the past few years. Even with the payment methods to buy digital assets are now increasingly diverse. One company in the payment sector, namely PayPal, also provides payment services to buy Bitcoin.

Unfortunately buying Bitcoin using PayPal is often considered difficult because not all Bitcoin buying platforms that provide PayPal as a payment option, and often incur additional fees.

But not to worry, because in this article will discuss what platforms you can use to be able to buy Bitcoin with Paypal, advantages and disadvantages if you use PayPal, and sites to buy Bitcoin with PayPal and how to buy Bitcoin using PayPal.

Before you buy Bitcoin with PayPal, make sure you already have a Bitcoin wallet to store Bitcoin and PayPal accounts.

Platform for Buying Bitcoin with PayPal

Peer-to-peer market

Give the seller the freedom to set their own exchange rates and payment methods accepted. Some sellers accept PayPal, and you can filter your search from offers available in the market with payment methods to help find suitable sellers. Peer-to-peer options that you can choose from are LocalBitcoins or Paxful.

Exchange Cryptocurrency

Some exchanges do not provide Bitcoin buying services with Paypal, but you can use a coinbase platform that provides this option.

Peer-to-peer Lending

This is a platform where you can be given a loan to buy Bitcoin. The platform that provides this service and provides PayPal payment options is Xcoin.

If you have decided which platform you choose to buy Bitcoin using PayPal, you should also know the advantages and disadvantages of buying Bitcoin using PayPal.

Advantages of Buying Bitcoin with PayPal

• If you already have a PayPal account, payments are fast and easy
• Safe and secure payment methods
• Allows you to buy crypto with Indonesian Rupiah (IDR)

Drawbacks of Buying Bitcoin with PayPal

• Very high costs substantially increase transaction costs
• If the platform does not accept IDR, currency conversion fees apply
• There are still a limited number of platforms that support the use of PayPal
If you want to use PayPal you also have to consider the fees charged. Because many exchange sites that charge high fees on PayPal transactions.

Then if the platform you choose doesn't accept IDR, there will likely be additional fees for currency conversion. For example, if you convert US or Canadian dollars, PayPal's fee is 3.5% above the exchange rate. For all other currencies, the fee is 4% above the exchange rate.

A site for buying Bitcoin with PayPal

Coinbase

Coinbase is one of the exchanges that has a good reputation for conducting cryptocurrency transactions. This platform also provides the option to purchase Bitcoin using PayPal.

Unfortunately, this platform does not allow you to directly use your PayPal account, you must have a PayPal debit card, and can only buy bitcoin directly with your PayPal account.

To do this you need to connect your card to your Coinbase account as a payment method. Coinbase will charge a fee of 3.99 percent for each purchase transaction using this option.

How to buy Bitcoin with PayPal on Coinbase

1. Make sure you already have a coinbase account and follow all verification balusters correctly
2. Open the identity verification help page for further assistance
3. Open the settings, then there will be an account link and click the new account button
4. If you have already added the payment method
5. Select PayPal and you will be asked to log in to your PayPal account
6. Link the account, you can only link one PayPal account in one CoinBase account
7. You can buy Bitcoin using PayPal

LocalBitcoins

LocalBitcoins is a peer-to-peer market based in Helsinki, Finland. This platform allows Bitcoin buyers and sellers to connect, but here users can determine what transfer options are suitable for you to use.

This platform also provides the option to purchase Bitcoin using PayPal. Here is a way that you can use to buy Bitcoin with Paypal at LocalBitcoins.
1. Register an account at LocalBitcoins
2. You will be given two options to choose from.

• Look for advertisements used by BTC sellers, then if you get the word "Quick Buy" on the screen. Use the drop-down menu and select PayPal as the payment method, then click "Buy" if you want to use PayPal. Then you can see the trading details, and can enter the amount of IDR that you want to use or the amount of BTC you want to buy, finally click "Send trade request"
• Place your own ad, this will make it easier for you to choose the payment method, the currency you want to use and transaction costs. To do this method you must verify your identity before placing advertisements to start trading.

PaxFul

Similar to LocalBitcoins, Paxful is also a peer-to-peer market that provides many payment options, one of which is PayPal. The following are steps that can be used so that you can buy Bitcoin on PaxFul.

1. Connect your mobile number and set questions to maintain security and settings
2. Then click "Buy Bitcoin" and if you want to use the Rupiah, you can immediately choose IDR. Next enter how much funds you want to use to buy BTC. Don't forget to choose PayPal as a payment method and click "search"
3. You will get a list of open offers that meet your search criteria. Click "Buy" if you already meet your requirements
4. Next, you can review the trading details and enter the amount of IDR that you want to spend or the amount of BTC you want to buy. Finally click "Buy Now" when you are ready to continue purchasing. 

xCoins

This is one of the Bitcoin lending platforms that you can use to buy Bitcoin with PayPal as a payment for the Bitcoin that you want to borrow. Instead of buying or selling Bitcoin, users can offer loans to one another by setting interest rates.

The seller can lend Bitcoin, and the buyer takes this loan and then pays it back in one payment later. Even though it sounds complicated, it is similar to traditional crypto exchange.

The following is how to register at xCoins

1. Enable 2-factor authentication and verify your ID.
2. Enter the amount of BTC you want to buy and click "Get Bitcoin".
3. Take the time to review the total transaction fee and the amount of Bitcoin you will receive.
4. If you are satisfied with the terms, accept the loan agreement and click "Continue to Payment".
5. You will be directed to the PayPal lender page, where you can enter your PayPal account details and complete payment.
6. Next you will be directed to the PayPal lender's page where you can enter your PayPal account details and complete payment.

From several Bitcoin buying sites with Paypal and explanations about Bitcoin and PayPal, you can determine whether this payment suits your needs and desires.

This article is not a suggestion, just an education for those of you who want to buy Bitcoin with PayPal. Don't forget to stay selective and be careful in choosing an exchange that provides PayPal services so that you avoid losses.