The process of buying Bitcoin with Paypal through paxful and Cryptounit is almost similar to buying from LocalBitcoins. LocalBitcoins is a platform for purchasing/selling bitcoins to users, with the lowest exchange rates and reliable users.
The sellers have to pay a 1% commission fees to the platform that facilitates this exchange.
Like other P2P platforms, it follows a set of sales rules as well but, if you have a good user reputation, these requirements are lower.
Before you purchase anything, it’s better to make sure that the user has good reviews from other buyers.
The process of buying bitcoins with Paxful is simple:
- Create an account
- Choose your amount and a payment method
- Select your seller- You can choose one yourself or let Paxfuldecide the best one for you.
Next, you’ll be sent to an online chat room with the seller to finalize your deal. The seller’s bitcoins are sent into Escrow and soon after you mark that the payment has been made, the bitcoins are released into your account. However, you must seal the deal within the time limit given or it is auto-cancelled.
Buy Bitcoins with PayPal Through Cryptonit:
Cryptonit is a UK-based company and was founded in 2012. It is a cryptocurrency exchange that allows you to deposit money using PayPal, Visa/MasterCard, Skrill Western Union, MoneyGram, and many other options.
However, it requires a verification process in order to qualify for PayPal deposit to buy bitcoins.
The steps following the process are:
- A copy of the government issued photo id.
- An address verification document such as utility bill or rental agreement.
- A photo of you holding these documents/ skype video call with someone from Cryptonit.
Verification will take around 12 hours on weekdays. After it is completed, just go to the “trade” tab, choose the suitable currency pair, and enter how much you want to buy.
All in all, Cryptonit is a trustworthy option. It offers a safe environment so that you can serve your needs and minimize the risk of theft.
Please take a look at the following infographic for a better understanding.