Nowadays, it’s becoming a common thing to possess bitcoin or any of digital asset.
Do you guys know a company called PayPal?
NO? if your answer is no, probably this article isn’t for you (just kidding — keep reading my friend).
PayPal was (yes, it was) a very innovative financial enabler which introduced us about digital money by only using email address to open an account. Most of international merchants who want to accept payment, PayPal is a must-have third party app for receiving payment from all over the world. It is instant and secure.
BUT… Bitcoin and cryptocurrency seem going to take the throne from PayPal.
What Is Paypal
PayPal was founded by Max Levchin, Peter Thiel, Luke Nosek and Ken Howrey in 1998. The company operates as a payment processor for online vendors, auction site and other commercial users, for which it charges a fee.
PayPal has been offering an alternative to cash and check transfers for almost two decades now, representing more than 200 countries in 25 currencies. Its long history, wide variety of features, and stable payments give it an edge over rivals like Venmo, Apple Pay, and Stripe.
PayPal helps you to make online payments through Amazon , eBay, or any other store, or to make quick money transfers between other PayPal accounts or supported bank accounts around the world. With robust fraud defense for both buyers and sellers, it is one of the easiest and most secure ways to send money online.
Crypto vs PayPal
As the modern world demand a better, quicker, decentralized technology, it’s safely to say that people choose Bitcoin and Cryptocurrency to replace Paypal.
These are some reasons why Crypto Payments is better than PayPal:
1. Cheaper — Transaction Fees
2. Faster — Transfer Speed
3. More — Decentralized Authentication
4. Real — Cross-border Payments
5. Smaller Chance — “Frozen” Account
How to Buy Bitcoin with PayPal
There are a variety of options to buy Bitcoin through PayPal.
Option 1: Buy Bitcoin with PayPal using eToro (best option)
The cheapest way to buy Bitcoin through PayPal is to use eToro.com. You will build a free account and purchase different forms of cryptocurrencies at low cost, like Bitcoin. eToro has been selling an eToro crypto wallet since November 2018, so you can use the wallet to email, receive and store your purchased cryptocurrencies.
How to buy Bitcoin with PayPal in eToro:
- Visit eToro website and sign up a free account.
- Click the Deposit Money.
- Check your identity.
- Enter the number you want to deposit and pick your currency.
- Choose PayPal payment form
Besides Bitcoin, you can also buy Ethereum, Ripple, Ethereum Classic, Bitcoin Gold, Dash, Litecoin, NEO, Stellar and EOS using PayPal in eToro.
This is now the fastest and the cheapest way to buy Bitcoin through PayPal.
Option 2: Purchase Bitcoin with PayPal using Paxful
Paxful is an decentralized p2p platform where you can purchase or sell Bitcoin with various payment methods. Like gift certificates, PayPal and other cryptocurrencies. You exchange directly with an individual in this marketplace, so you need to verify if that individual can be trusted. Often check the credibility points of the trader and read reports for this guy. Generally , high commissions are paid to dealers, which ensures you pay a higher Bitcoin price. You also pay a fee to Paxful on top of that. Read more about this marketplace in our analysis of Paxful.
How to buy Bitcoin with PayPal in Paxul:
- Visit Paxful website and sign up a free account.
- Click the Buy Bitcoin tab.
- Pick the sum in which currency you want to pay (euro) and the payment system (PayPal) you want to use.
- Find a dealer with a decent reputation and an acceptable price for Bitcoin.
- Click the Buy tab.
- Study the terms and conditions of the user closely to see the price that you have to pay.
- Click the Buy Now tab.
- You should wait up to 30 minutes to move the money. Select Pay after you paid the amount you ordered.
Option 3: Purchase Bitcoin with PayPal using LocalBitcoins
LocalBitcoins is also a P2P marketplace, much as Paxful. A lot of people have moved to Paxful, because LocalBitcoins ask for a higher fee, do not allow currency, and have a strict KYC. The website is still still really sluggish and has bugs. Learn more about this business in our study of LocalBitcoins.
How to buy Bitcoin with PayPal in LocalBitcoins:
- Visit LocalBitcoins website and sign up a free account.
- Click the Buy Bitcoins tab.
- Check for the sellers who accept PayPal.
- Find a trader with a decent reputation and an acceptable price for Bitcoin.
- Click the Buy tab.
- You should wait up to 90 minutes to move the money.