Now that the good aspects are out of the way, this post presents the arguments that are commonly made as to why users should not buy bitcoins (BTC) with PayPal, among other crypto currencies. Before users move forward and begin purchasing cryptos using their PayPal accounts, it is prudent to review both the positive aspects and downsides to buying bitcoin with PayPal. In this guide, we cover everything you need to know about buying Bitcoin on PayPal, including reviewing top cryptocurrency trading platforms and showing how you can invest today for lower fees.
If you want to buy Bitcoin using PayPal immediately, you will want to set up an account on some recommended trading platforms. Some cryptocurrency exchanges will let you deposit funds to an account with PayPal, which can then be used to purchase Bitcoin. All you have to do is have a funded PayPal account, select which crypto you would like to purchase, and confirm the purchase.
There are other ways to buy bitcoin instantly with debit card, but naturally the discussion of PayPal comes to the fore.
If you already have a PayPal account, all you have to do to purchase crypto is to click on a button saying crypto, and select the coins you would like to purchase. If you do not have a PayPal account, or simply do not find the service to be that convenient, there are different methods available for buying BTC and other cryptos.
Unfortunately, at the time of this writing, many popular service providers do not let users purchase using their PayPal balance directly, but through a debit card or a bank account linked to their PayPal account. Users might do better buying their cryptocurrency directly on the exchange instead of through PayPal’s platform. You can purchase bitcoins directly from the PayPal platform, or you can use a reputable broker or exchange that supports PayPal deposits.
Given the information presented in the above sections, you might be wondering if it is better to buy bitcoins directly with PayPal, or link your PayPal account with a cryptocurrency exchange and have your transactions take advantage of this method. Buying Bitcoins using PayPal is a simple matter of accessing your account, clicking Deposit funds, choosing PayPal as the preferred payment method, and choosing the amount. Buying Bitcoin using PayPal is simply a matter of logging into your account, clicking on Deposit Funds, selecting PayPal as your preferred payment method and choosing an amount.
Now, you know how to instantly buy bitcoin using PayPal — not just cheaply and quickly, but via a brokerage that is SEC-regulated. By choosing a good platform for the completion of your buy, you do not have to pay any deposits fees, assuming that your PayPal account is in USD. Also, when buying bitcoin using PayPal, you will only have to cover your spread, with the minimum purchase requirements being only $10 on average. Cryptoassets are a highly volatile, unregulated investment product.
But can you use credit card to buy bitcoin? It might be easier to buy cryptocurrency using an app can you use credit card to buy bitcoin, that you already use–and trust the security measures on–like Paypal, but it has limitations when compared with mainstream crypto-trading platforms.