Fintech Zoom – Buy bitcoin with PayPal? – Nowadays, people are using bitcoin to fulfill their daily transaction. Analysts are predicting that bitcoin will become the future financial system. There are different methods from which we can buy bitcoin. Paypal is a company that provide secure online buying and selling service. You simply add your bank account, credit card or debit card details and whenever you pay using PayPal, you can choose which of your cards or accounts it pays with. There is no direct way to buy Bitcoins using PayPal as Bitcoins transactions are irreversible.
PayPal has been very favorable of Bitcoin in recent years. Paypal should be used as payment procedure because it is more and widely available all over the globe. Paypal has the chargeback policy which has made them more popular but there is no way to prove that the buyer didn’t receive the Bitcoin (even if they did).
The two main methods that still allow you to buy Bitcoins with PayPal are:
- eToro (for those who only speculate on price and don’t need access to the actual coins)
- LocalBitcoins (for those who want to actually withdraw Bitcoins to their own wallet).
Buying bitcoin using eToro involves less fees and a number of payment procedures are accepted.it provide the most uncomplicated way to buy bitcoin. While the platform will allow you to buy bitcoins with PayPal, you will not be able to withdraw or send your bitcoins to other people. However, eToro is not available worldwide.
A wide variety of sellers from around the world, if uses the LocalBitcoins. However, High fees and chance of getting scammed LocalBitcoins, unlike eToro, is a marketplace where buyers and sellers connect directly. When you use LocalBitcoins, you’re dealing with an actual person, which means that the seller’s credibility is another thing to watch out for.
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Buy bitcoin with PayPal?