It’s not easy to buy or convert PayPal to Bitcoin online these days, especially without ID verification.
These method of buying BTC can bring about high transaction fees, low volume and some other kinds of issues like; scam and payment hassles.
If PayPal is not the only option you can consider, i will suggest you go for buying Bitcoin with either your bank account directly, or using credit/debit card instead.
But if you still insist that PayPal could be the best option for you, then i will go ahead and show you how to get Bitcoin cryptocurrency with PayPal with any ID verification.
Since there are very few ways to buy Bitcoin using PayPal account, the services that allow purchase of crypto with PayPal are just LocalBitcoins and Paxful.
These two platforms are P2P based exchanges, where individuals trade Bitcoins and some other cryptocurrencies for fiat money or PayPal.
Note: Buying BTC without ID verification is nothing, but a serious myth, as you will have to register on these platforms and you will have to verify the account in one way or the other.
Coming to think of it somehow, if people don’t verify themselves, it won’t be possible to build trust on these platforms without loosing your cryptocurrency in the process!
How to buy Bitcoin with PayPal
Mind you that, there is no direct way to buy Bitcoins using PayPal as Bitcoins transactions are irreversible.
However, there are certain indirect ways that are used by users around the globe to purchase bitcoins using PayPal accounts.
So in this tutorial, I will show you how to buy Bitcoin instantly using your regular PayPal money accounts safely online.
Let’s head straight up into it…
1. Buy BTC on LocalBitcoins with PayPal
LocalBitcoin is the biggest peer to peer Bitcoin exchange in the world and the good thing is, it covers almost all countries around the globe. The service is operating since 2013 and the company is based out Finland.
They have Bitcoin buyers and sellers in 240+ countries and 7000+ cities around the world. But they do require a KYC and registering on it is as easy as configuring your email.
Apart from that, as it is present in so many countries they naturally need to adapt to various payment methods as per the needs of individuals.
On LocalBitcoins, buyers and sellers can post their ads and mention in terms & conditions to complete the trade only via PayPal.
If you are a buyer, you just need to select your country and payment method as PayPal to see sellers who are wishing to sell BTC for PayPal.
2. Buy Bitcoins using PayPal on Paxful
Paxful is another peer to peer service like LocalBitcoins but it is much bigger as it supports several other currencies including Bitcoin.
Paxful is based out of the US and is operating in the space since 2015. Surely, this is some experience given the pace at which cryptosphere moves.
Another cool thing is, it supports many payment methods which even LocalBitcoins don’t support (300+ payment methods including PayPal).
Paxful is also having an escrow system so that sellers and buyers cannot cheat you when you have paid them or released the bitcoins.
Advice on buying BTC with PayPal
Like I said earlier above, PayPal is not an ideal way to buy Bitcoin as the fees associated with it are a bit higher than other methods of getting BTC coins (~ almost 10% high).
If you would like to learn about other methods, check out how to buy Bitcoin with credit and debit cards, as well as with a bank account.
In other words, let me teach you how you can buy BTC from LocalBitcoins with PayPal safely.
How do I buy Bitcoins with LocalBitcoins?
I personally recommend LocalBitcoins, as i have used them to get most of my own Bitcoin investments online and i never had any issue what so ever trading on the platform.
LocalBitcoin is a a peer-to-peer platform that serves as an escrow service, which typically has lower limits and higher fees than Paxful.
First, create an account on LocalBitcoins if you do not have one already. Using the menu on main page, enter your desired amount of Bitcoin you would want to buy, as well as selecting PayPal as a payment method – then click search button.
Considering the first option is selling Bitcoin for $8350, this is a 10% premium minimum, and increases fast as you move down. LocalBitcoin charges 1% fees, Paypal charges around 3% so these fees really start to add up.
Select seller and you’ll be taken to a page similar to what is shown below, then you will need to read and follow the seller’s rules to send a trade request.
If the seller agrees to sell after viewing your account, then the both of you can proceed with the whole transaction using LocalBitcoins platform as an escrow service.
Once both the seller and the buyer confirms reception of the , LBC will simply mark the process as completed order.
Congrats, you have successfully used LocalBitcoins to purchase Bitcoin with Paypal!
There are couple of frequently asked questions I would like to answer on this topic below…
Is LocalBitcoins a wallet?
Not really… LocalBitcoins is just an escrow service that has cryptocurrency wallet for temporary storing Bitcoins when you buy them.
Do you need ID to use LocalBitcoin?
Yes, to transact on LocalBitcoins after signing up, they will need you to validate your account. And validating an account requires the use of a real identity with a valid ID and phone number.
Can I buy Bitcoin on Coinbase with PayPal?
Unfortunately, the answer is NO!
It is possible they may add this feature in the future.
I hope you understand how to buy Bitcoin for PayPal money, but these exchanges or services are not safe for storing your BTC though.
There are list of different cryptocurrency wallets, which you should look into before thinking of using just any other random wallet.