🔥 Buy Bitcoin with PayPal in 2021: this is how it works!
Anyone who is interested in the crypto currency Bitcoin will certainly ask the question of how to Coins can buy or store. First of all: Before you put your hard-earned euro into a digital coin, it is important to first deal with the risk - you should only pump your money into the crypto currency if you know the dangers that Bitcoin brings with it .
To buy coins of the crypto currency Bitcoin, you first need an account with a crypto exchange. If you want to make a deposit with PayPal or buy Bitcoin via PayPal, you have to find out in advance whether the provider accepts PayPal as a deposit method at all. Because not every platform can be used with PayPal.
How to buy Bitcoin with PayPal at an exchange.
It is therefore necessary to make a comparison in advance which crypto exchange has the best conditions and also offers the option to buy Bitcoin with PayPal. Above all stands here the provider eToro emerged. Because the platform, which started years ago as a forex broker and is now known as a social trading provider, not only accepts the online payment service PayPal, but also convinces with a very fair fee model. Furthermore, eToro scores with a wide range of available crypto currencies. Here, crypto fans will be 100 percent enthusiastic.
Open an account with eToro
If you want to buy Bitcoin via PayPal, you must first open an account with eToro. At this point it should be noted that opening a trading account is absolutely uncomplicated and can be completed within a few moments. This means that even beginners who have never dealt with such a service are not faced with any problems or hurdles. In the course of registration, it is necessary to provide your first and last name, leave an email address and generate a password. This means that it takes less than five minutes to fill in the empty fields.
Info: If you have a Facebook or Google+ account, for example, you can log into eToro via the social network - in this case the login data will be adopted. This speeds up the registration process so that it is completed after a few moments.
Now it's about the verification process. At this point, the questions specified by the legislator must be answered. However, this is mainly about self-assessment - that is, are you aware of the risk? Because speculating or trading with crypto currencies (as well as with stocks and the like) does not guarantee secure profits, ultimately even high losses are possible. EToro also requires a copy of your photo ID (front and back). This document can be uploaded directly via the input mask.
Now the first credit can be deposited.
Deposit credit via PayPal
After the account has been created, it is now possible to deposit the credit via PayPal, so that Bitcoin can then be bought with it. On the left side of the menu you will find the button with "Deposit money". This must be clicked in order to get to the payment overview. Now the euro amount can be selected to be uploaded to the eToro account. It should be noted that the euro amount is then converted into US dollars, as eToro only works with the US currency.
In the area of payment methods there is the "PayPal" deposit option. At this point "PayPal" is to be selected: If there is credit on the PayPal account, this can then be used to transfer it to the eToro account. If there is no money in the PayPal account, it is necessary to top up the PayPal account beforehand.
All those who are making a deposit for the first time will not be forwarded directly to PayPal at this point, but will be asked to fill out a questionnaire to remove the so-called deposit restriction. The questionnaire must be filled out due to the regulation of eToro.
Buy Bitcoin with PayPal credit
After the eToro account has been topped up, the crypto currency Bitcoin must be selected on the platform. The crypto currency can be found either via the upper search bar or on the left side of the menu - since eToro is a very clear and user-friendly interface, you will ultimately have no problems finding the Bitcoin.
If you click on the crypto currency, statistics, the latest headlines, charts or research are displayed. If you want to buy Bitcoin with PayPal, you should click on the "Trade" button, which is located in the upper right corner. Now you get to the purchase overview. If the default settings are left, the Bitcoin is purchased at the market price.
At this point it should be mentioned that it is not necessary, by the way, to buy an entire bitcoin - there is also the possibility of a partial acquisition. That means, if you want to invest 500 euros, you ultimately get a Bitcoin share worth 500 euros.
Advantages and disadvantages of buying bitcoins via PayPal
PayPal is by far one of the best-known online payment providers. Due to its great popularity, PayPal can be used as a payment method in (almost) all online shops. Furthermore, PayPal stands for seriousness and security. Because before PayPal is available as a payment provider, the platform is "checked" in advance. That of course speaks in favor of eToro. PayPal scores on the one hand with a very lean and transparent fee structure and speed - the money is uploaded to the PayPal account within a few moments or can be transferred to the eToro account within seconds.
In fact, there are no disadvantages to buying Bitcoin with PayPal. It is only important that you find out in advance how high the fees are.
Fees when buying Bitcoin via PayPal
Due to the fact that PayPal charges fees when transferring money, there are some providers who forego the service - because, according to PayPal, the fees should not be charged directly to the end customer. The standard fee for a wire transfer is 2,49 percent. eToro pays the fee for the end customer. It should be noted, however, that there are other fees at eToro - for example a withdrawal fee (5 US dollars) and an inactivity fee if the user has not logged in for more than twelve months.
Which exchanges and brokers currently offer PayPal as a deposit method?
Due to the fact that not every broker accepts PayPal, it is necessary to find out in advance, if the service is to be used, which provider accepts the online payment service.
As already mentioned, eToro offers the option of uploading funds via PayPal. All you need is a PayPal account and the credit that is then to be transferred to the eToro account. The fees are covered by eToro.
Another broker that offers the option of topping up the account with PayPal is Plus500. Here, too, the PayPal credit can be transferred directly to the Plus500 account.
Selling bitcoins - is it possible with PayPal?
Yes. The same method of deposit is followed, but in the reverse order. The cryptocurrencies stored in the wallet are sold and the amount that is then in the broker's account can then either be transferred to the reference account - or if offered - or transferred to the PayPal account. If a direct transfer to the PayPal account is not possible, the reference account - usually the bank account - must be inserted as a stopover.
Top up your PayPal account with the profit
If the sale of the cryptocurrencies has resulted in a profit, the payment will then be requested.
In the course of the withdrawal request, the payment can be made directly to the PayPal account at eToro. Simply select PayPal as the withdrawal method and enter the amount to be withdrawn.
The money will be posted to the PayPal account after one to two days.
Conclusion: simply buy bitcoins with PayPal credit!
If you want to buy Bitcoin today, you can easily do so via PayPal. It is important that the broker or the exchange accepts PayPal - this is certainly the case with eToro. So if you want to buy Bitcoin via PayPal, you should deal with the services of eToro.
Buy Bitcoin with PayPal FAQs
Can I buy Bitcoin anonymously and securely using PayPal?
Yes. If you use PayPal, you can top up your account via the online payment provider, provided the broker or exchange offers the service, and then easily purchase Bitcoin.
Can I deposit bitcoins into my PayPal account?
No. A direct deposit does not work. If you have Bitcoin, the coins must first be exchanged for euros or US dollars (or another fiat currency) - the PayPal account can only be topped up with fiat money.
Does every broker or exchange accept a deposit via PayPal?
No. If you want to work with PayPal, you should take a look at the deposit and withdrawal methods of the platform in advance and, if necessary, check the fees in advance.
Can I have the winnings paid out to my PayPal account?
Yes. Either the Bitcoin is exchanged for fiat money directly on the platform and then transferred to the PayPal account or the money is first transferred to the reference account (bank account) and then from there to the PayPal account.