Hey there! Today i’d like to tell you about all good and reliable online bitcoin markets that I use that accept payments via paypal. Basically, it is usually a problem to find such places. The reason is an enormous amounts of scammers, that used Paypal’s chargeback feature to claim both Bitcoin and the money. Nevertheless, I have found some good and reliable places that accept Paypal. And just before we start, here is the short list of the best of them:
|International||Low||Seller status dependant|
And now, let me tell you a little bit about the details. I’ll also provide some short reviews here. Here we go.
- Review: Using eToro to buy bitcoin with PayPal.
- Advantages: Pretty low fees, lots of different payment methods accepted.
- Disadvantages: Well, this is not actually a disadvantage, but you can claim your profits only in fiat currencies (US dollars, Euros).
Well, frankly speaking, eToro is the easiest way to buy Bitcoin with Paypal. eToro obviously will sell you Bitcoin, but you will not be able to withdraw bitcoins to your wallet or transfer them to other peers, you will be able to claim them with only fiat currencies like US Dollars and Euro. Basically, it is a tool of investment, not a tool for online trading. However, the exchange will be available soon in eToro. It will be a great deal for you if you just want to invest in Bitcoin. Also, another good feature for many of you is that you do not need to have a bitcoin wallet to use eToro.
Sign Up at eToro.
- Review: Using LocalBitcoins to buy bitcoin with PayPal.
- Advantages: Literally, lots of peers around the world to deal with.
- Disadvantages: Pretty high fees, some scam chance.
Localbitcoins is an online bitcoin market, created to connect sellers with buyers and vice versa. Pretty much like eBay or AliExpress, you will be dealing with another users most of the time. Beware of scammers and always check the seller’s rating before further transaction. You must also know, that almost all the sellers will charge a premium fee in order to ensure themselves from scamming until your rating is good. Let’s talk a little bit about the process of buying bitcoin with Local Bitcoin.
1. Search for a seller.
First of all, you need to find a seller. Go to the LocalBitcoins and just click search button and enter the amount of bitcoins you want to buy. You will also need to specify a country from which you want to buy, since there is no worldwide search on LocalBitcoin.
2. Select your bitcoin seller.
Now you will be provided with a list of all the sellers available that match your search parameters.
Some checklist for you to remember:
- overall feedback rating
- amount of confirmed trades
- date of registration (beware of new accounts)
- how many people trust or block the seller
3. Make the deal
When you have found your seller of choice, you will be redirected to the trade page. All the required trade information, including the terms, will be provided there.
You must also remember that the terms of trade will depend on seller from which country you are dealing with.
When you read and accept the terms, just specify the amount bitcoins that you want to buy.
Remember, that everyone hates scammers. So you will need some time to get good reputation score before you can make some really big deals on LocalBitcoins.
- Review: buy bitcoin with Paypal using Virwox.
- Advantages: Pretty reliable, long time seller, great reputation
- Disadvantages: The fees are pretty high
Well, for a long time, Virwox is the only exchange service that is offering some shortcut through the paypal’s chargeback issue. It is being done by using another virtual currency that is called SLL (SLL stands for Second Life Linden Dollars) as an internal Virwox currency. In a nutshell, you will buy SLL first using your Paypal account. Then you convert SLL to Bitcoins, that grants both you and Virwox a proof of purchase (it is needed for Paypal chargeback claim cancellation). Here we go:
Virwox fees and terms of agreement:
- To minimize Paypal chargeback claim chance, Virwox will limit the amount that can be deposited from Paypal or you credit card. Here is a short illustration.
- Transactions fees are a little bit higher than usual.
- If you have just registered, your first transaction will be delayed up to 48 hours. This is done for security purposes, do not worry.
- If you do not receive your bitcoins after 48 hours, just drop a line to support
To use Virwox to buy bitcoins online, just follow a simple instruction below.
1.Visit Virwox and create a new account for free. Just click a “Not registered yet?” button.
2. Fill in the registration form.
3. Activate the account
After you click the “Register” button be sure to check you mail. Virwox will send you a confirmation letter and a password.
4. Change the password
Keeping a password provided by a third-party is not very secure. Change the password right after the registration.
5. Make a deposit using your PayPal account.
Just click the Deposit button on the left and select Paypal Express option.
6. Buy SLL
After you make a deposit, go to the “Exchange” to buy some SLL.
7. We are almost there. Buy Bitcoins with SLL.
8. Claim your bitcoins.
Click a “Withdraw” button, provide your wallet address and get rich!
Q: Does Virwox really work?
A: Yes! It looks like a little bit uncomfortable, but believe me, that it is VERY secure and VERY reliable. I’ve been using Virwox for almost five years, and it hasn’t failed me even a single time.
Q: The fees are high, aren’t they?
A: Well, it’s kind of love/hate thing i have to Virwox.
- Review: buy Bitcoins with paypal using Wirex.
- Advantages: Medium to low fees
- Disadvantages: Pretty long transaction time, up to 10 days.
Wirex is a great company that provides virtual or physical Bitcoin Debit Cards. Moreover, that cards can be used with your Paypal account! Here is just a introduction to Wirex.
0. Sign Up at Wirex.
1.Get a card from Wirex (physical or a virtual one).
Just click a “request new card” button next time you visit Wirex website.
2. Connect Wirex card to Paypal account and verify it.
It is pretty simple. Got to your Paypal account, click “Add a card” and add your brand new Bitcoin Credit Card.
Then verify your new card to use it with Paypal. The verification process is simple and typical for Paypal. I guess that you can handle it, since you are already a Paypal user.
3. Deposit some funds to your Paypal account
I think that you know that already 😉
4. Make a withdrawal.
Click “withdraw funds to your card” button in Withdrawal page (go to Wallet – Withdraw Funds).
5. Buy bitcoin with paypal using Wirex.
We are almost there! You are now clear to buy bitcoins with Wirex since you Wirex card have some actual money in it.
You must also remember, that the transaction will take up to seven days sometimes (usually it is one or two days actually).
- Review: buy bitcoin with paypal with Paxful.
- Advantages: Great amount of sellers and buyers around the globe.
- Disadvantages: Some scam shance is always there, and the exchange rates are high most of the times.
Basically, Paxul is like a younger brother to LocalBitcoins. Being another p2p online bitcoin market and also being able to accept every type of currencies (even Amazon gift cards and Skype credits will work!), Paxful makes bitcoin buying very simple.
- register and create the account
- choose a payment method that is preferable for you
- select a seller (it can be done both in manual or automatic mode)
When the transaction start, you will be provided with direct online chat with the seller to agree on a deal. All you have to do now is to finalize the deal (usually the deadline is about 30 minutes). The deal will be canceled otherwise.
- Review: buying Bitcoin with Paypal through Coinbase.
I have deleted the review here, since Coinbase does not support Paypal anymore. Anyway, Coinbase is a great market that I use daily. I will review it some time later.
Where are the others?
I see some new sites spawning daily, claiming that they can let you buy bitcoin with paypal. I try to use them all, but most of them are just scams. So the only thing that you need to check on before using ANY site is the reputation. Anyway, the sites that i had described have been around for many years, and i have only positive experience with them.
Morale: buying Bitcoins with Paypal is possible.
As you can see, it is still kind of a pain in the neck to buy bitcoins with paypal even in 2020. Anyway, the sites i have reviewed above will definitely help. Stay in touch!