E-coin is a company that provides virtual and physical Bitcoin debit cards. You can use your E-coin card with your PayPal account. (Tutorial: how to buy bitcoins through the Wirex/e-coin platform)
Following are the steps you must go through in order to complete the purchase.
Step 1: Order an E-coin Virtual Debit Card:
Log onto e-coin, click on “request new card” and select the type of card you want.
A virtual card costs around $3 and is enough for this process.
Step 2: Link Your E-Coin Virtual Debit Card to PayPal:
Log into your PayPal account, go to “Money” and click on “Add a card.”
Fill in the details (Name, email address etc.). Once you’re done, click “Add card” to move on to the next step.
PayPal will ask you to verify the new card. Click “Confirm my card, ” and PayPal will begin a series of transactions to verify your card. PayPal will charge you a fee, so make sure you have a balance of at least $3 on it.
Step 3: Enter PayPal Code:
Go to your Wirex/E-coin account where under the “Card Transactions,” you will see a 4-digit code from PayPal; note it down.
Insert this 4-digit code in your PayPal account and voila! Now your E-coin card is linked to your PayPal account.
Step 4: Withdraw Funds From PayPal to Your E-coin Card:
Click “Withdraw money” on your PayPal account.
Then, select “Withdraw funds to your card.”
Enter the amount you’d like to withdraw, select your E-coin card and click “Continue.”
Your request is now in process, and the funds will be deposited onto your E-Coin card in around 5 to 7 working days.
Step 5: Buying Bitcoins Using E-Coin Card:
After withdrawing funds from your PayPal account onto your e-coin card, you can now buy bitcoins.
Log onto your account and select “Buy Bitcoin.”
Enter the number of bitcoins you want to buy – the funds will be deducted from your card. After the deduction, click “Submit.”
Confirm the Bitcoin purchase by clicking on “Confirm.”
You will receive an email confirming your successful transaction.
This infographic gives a graphical representation of steps involved in the Bitcoin transaction.