We all are aware that Bitcoins is the biggest name up there (right at the time of writing this article) in the cryptocurrency market. And why not, it literally changed and took the Cryptocurrency Market and took it on a whole new level. On the other side, it is also true that it is kind of uneasy to buy bitcoins still now. Today we will be specifically talking about places to buy Bitcoins from using only PayPal.
PayPal is been quite supportive of the Bitcoins during the past years. But it is still a mess due to less number of trustworthy platforms. Along with that, the Scammers use to put up false chargebacks as they have received nothing and at last, keep both the money and the Bitcoins. Because of some of these reasons out there PayPal gets a little unstable platform to perform the job. Although here in this article, after a lot of research, we have listed out some of the most trustworthy platforms out there all over the market who do the job.
So let’s directly dive into the list:
Virwox is one of the famous Virtual Currency Exchanges out there for a while now. Purchasing Bitcoins via this method is not completely simple but, it is not that hard at the same time. To tackle the fake chargebacks you will be buying a virtual world currency Linden (or, Second Life Linden Dollars, SLL) and then will buy Bitcoins using SLL. Pretty straightforward right?
More elaboratively, you will be buying the SLL first using PayPal and then trade it with Bitcoins. Because of the recent chargeback risks, Virwox limits out new users on the amount that they can deposit at a particular time. The exact limits can be found on their Website. But at the same time, this process is going to cost you more processing fees. But, it is not something to worry if you are going to stay for long because evergoing Bitcoins will eventually fill that up.
2. Local Bitcoins
Local Bitcoins is yet another website from where you can get Bitcoins in case you do not want to try Virwox. It is a marketplace where there are sellers and buyers. Unlike the last one, you will be a buyer here and checking out actual people to get your bitcoins from. And because of that being trusted is the key here. You will be searching for the person who sells their Bitcoins to you taking payments using PayPal. But because of the chargeback problems discussed earlier, the only con of this process is that the sellers charge a higher interest rate to compensate the risks that they are taking. But, the best part is that you are getting the bitcoins a lot faster. Moreover, the are many numbers of sellers available worldwide.
To understand the process, you will have to search for the number of bitcoins which you want to get and from which country. One problem with the search is that you won’t be able to check all the countries at once and need to go through the country by country. Now select the seller you think is legit. (TIP: Always check out the Feedback Score, Trade limits, and Payment Window). And at last complete the Trade by finishing off the payment.
If you are looking for the easiest, fastest and the most convenient way of buying Bitcoins, the answer is eToro. Unlike the other two options, eToro is a lot different and works differently. In this platform, you do not actually get Bitcoins (Well, Practically). Using this you will be easily able to buy Bitcoins using PayPal but you will not be able to withdraw and send them to other people. The only option is to sell them when the price rises and reaches your satisfaction. And then trade the bitcoins back for Fiat Currencies (like US Dollars, Euros, and many others).
Thus if you are only interested in the price hikes and drops of bitcoins, this can be the easiest and most effective way of doing the same. If you are not really looking for this particular method, please check the other ones. The only drawback of this particular process is, you will only be able to use this if you live outside of the United States of America.
So it can be a pretty painful process to get Bitcoins with the help of PayPal but in this article, we had tried to eliminate the hassle as much as possible for you. Here were the top three choices of ours. All of the services listed above are thoroughly checked and researched. And thus it can be said that they are very much safe without many and reports. But as we all know, it is impossible to give a 100% confirmation so we do encourage the decision to be solely yours at the end of the day.