PayPal is one of the most well-known services for online transactions. It makes online, fiat transactions fast and easy while on the other hand, Bitcoin is both a currency and a payment system that operates independently. Due to the speed, security, and convenience of Bitcoin, the demand for the digital currency has increased dramatically.
Although, one question that strikes to everyone is whether you can purchase Bitcoins from PayPal? Well, yes and here’s how.
Buying Bitcoins with PayPal
People claim that buying Bitcoins with PayPal is difficult, mostly because bitcoin traders expect this system to be dangerous and risky, with a high chance of having their money stolen, and may refrain from purchasing Bitcoins through PayPal.
There are two methods that allow one to buy Bitcoins with PayPal: VirWox or credit cards.
VirWox charges commission fees, but it is much easier to buy bitcoins with PayPal through VirWox than by using a credit card.
How to Buy Bitcoins with PayPal by Using VirWox
Step 1: Go to the website of VirWox and register for an account.
VirWox is an exchange of virtual currency, you can buy Bitcoins, Lindens and much more.
Step 2: Click on the deposit button on the sidebar
Step 3: Choose how you want to deposit your funds.
You can use PayPal or credit cards using Skrill payment. Note that you can only deposit limited amounts of money every 24 hours. Your 24 hours limit will be increased as you complete successful transactions.
Step 4: Convert your USD to SLL. Click on “place an order”
Step 5: Decide how many USD you want to convert to SLL and click “Next”.
Step 6: Confirm your order and convert your SLL to Bitcoins.
Just click on the “BTC/SLL” button on the sidebar.
Step 7: Enter the number of bitcoins you want to buy using SLL.
Step 8: You will now be able to withdraw your bitcoins and send them to your wallet. Click the “Withdraw” button.
Step 9: Enter the number of bitcoins you wish to withdraw, then enter your Bitcoin address wallet and click the “Request Withdraw” button.
Note: On your first transaction, there may be a 48-hour delay until your bitcoins are sent to your wallet. Although, after your first, the rest will be instant and can be traced in the blockchain.