Many payment systems allow you to buy bitcoin directly without intermediaries. However, making such an operation through PayPal is problematic – cryptocurrency sellers simply do not want to run the risk of running into scammers who will use the “Refund” option to get bitcoins and return their money back.
However, there are methods that allow you to buy cryptocurrency with funds in your PayPal account through currency exchangers. Let’s consider on which site it can be done with the least losses and a high degree of reliability.
Registration on the VirWox virtual exchanger
VirWox virtual currency exchanger is one of the most reliable ways to buy bitcoin through PayPal. In addition, it allows you to easily transfer the received cryptocurrency to a bitcoin wallet. For instance to exchange 1 btc to etn. Work begins with registration on the exchanger.
To start buying bitcoins, first you need to replenish your account on the VirWox exchanger. For this purpose, they use funds that are stored on PayPal. To do this, find the “My Account” category in the vertical panel menu on the left side of the page. Here they select the “Deposit” heading. Then enter the amount to be replenished account on your account, and also indicate the required currency. At the same time, the transfer limit depends on the account level and transaction history. The following national currency units are available for replenishment:
- euros – immediately after registration it is allowed to deposit up to 90 EUR;
- US dollar – upper limit 108 USD;
- Swiss franc – the limit for beginners is 99 CHF;
- pound sterling – the first maximum limit is up to 81 GBP.
You should also warn that when you deposit in euros, a commission of 0.35 EUR + 3.4% of the amount is charged. For other currencies, this operation will cost 2% – this must be taken into account when transferring. Money from PayPal comes to your account instantly.
To transfer money, click on the “Check out with PayPal” button.
Following this, a form for transferring money from PayPal to an account in the exchanger appears on the screen. It also shows the amount and the rate at which the currency is converted. To complete the transfer, click on the “Pay now” button.
How to buy bitcoin through an exchanger
When the balance is replenished, you can start buying bitcoin. This is a two-step process, since it is impossible to directly exchange national banknotes (dollars, euros, etc.) for cryptocurrency. To do this, you need to go through an intermediate step: buy SSL. BTC exchange is only possible with this virtual token.
Therefore, in the “Exchange” section, select the appropriate pair. For example, USD / SSL, if the first time the account was funded with dollars.
On the exchange page, in an empty cell, indicate how much in US dollars they want to purchase SSL.
On the updated page, to confirm the operation, press the button with the inscription “Place Order”. The commission for this operation will be 50 SSL plus 2.9%.
After that, they return to the exchange menu again, and this time select the BTC / SSL pair.
They repeat the exchange procedure, but this time indicate how many bitcoins they are going to buy. And click on the “Next” button.