Want to buy Bitcoin with Paypal?
It can be hard to find anyone willing to take Paypal for Bitcoin because it’s just too risky for the seller.
While Bitcoin transactions are not reversible, Paypal transactions are. All it takes it one person to buy with Paypal, get their BTC, withdraw it to their wallet and then turn around to Paypal, claiming they never got their coins.
And usually Paypal will side with the buyer – leaving the seller high and dry.
However there are a few ways you can buy Bitcoin with Paypal that we’ve listed below. But be aware that there may be higher fees for the convenience of buying with Paypal – and there may be an extensive verification process involved.
Here’s a list and brief review of the different Bitcoins sellers that take Paypal payments for Bitcoin:
Buy Bitcoin with Paypal:
You can see the various sellers’ history, trade volume and feedback score. And some sellers on Local Bitcoins are willing to take Paypal for Bitcoins
All you do is sign up with Local Bitcoins, then sign in and do a search for sellers willing to take Paypal.
You’ll then get a list of the sellers and you can sift through them to find the right fit for you.
It’s pretty simple. You can also see the price they’re selling at and the buying limits.
On the downside, markups can be fairly high (15% or more). Limits are small. And some sellers want extensive verification on you before they’ll sell.
I find their website to be a little easier to use than Local Bitcoins and the online help is also excellent.
You simply open an account (it’s free and can be done in seconds), login to your account, select Paypal and you’ll instantly see a list of all sellers willing to take Paypal payments for Bitcoin purchases.
You’ll see the price they’re willing to sell at, their limits and whether they require ID or not.
Because there are lot of scammers out there with Paypal accounts, a lot of sellers will ask that you have a verified Paypal account. They may also ask for other things like proof of Paypal balance etc.
But overall the prices tend to be better here than on Local Bitcoins. There are also so many other payment options to choose from that it’s definitely worth checking out.
In addition to wire transfers and other deposit methods to fund your account, they will also let you fund your account with Paypal.
However, even though you can buy Bitcoins immediately once funded, you may not be able to withdraw for up to 60 days if you’ve bought with a Paypal deposit.
This also depends on your history (trust factor), amount and other factors determined by Lake BTC.
You will also have to be verified by uploading a government issued ID like a drivers license and a proof of residency like a recent utility bill.
Still, if you’re looking to buy Bitcoin much cheaper with Paypal – and you’re not in a rush, this is a great option.
A Cheaper Option To Buy Bitcoin with Paypal
If you’re open to it, the cheapest option to buy Bitcoin with Paypal is to simply withdraw your cash out of Paypal to your bank account and then buy from an exchange like CEX, Bitquick or another seller with low prices that lets you do wire transfers or cash deposits.
It may be a bit more involved but it can save you hundreds of dollars.
Also remember not to just trust any website you see that says they’re willing to let you buy Bitcoin with Paypal.
There is so much risk involved in taking Paypal payments for Bitcoin that most trusted, worthwhile sellers simply won’t do it. Those that do either charge sky-high fees or demand rigorous verification or both.
And if they’re not doing this, you should suspect that something is off with the seller (aka, you may not get your coins).
Always go with a trusted seller with a solid reputation. We’ve listed several above the will take paypal for Bitcoin. If you are open to other options you may also want to check out these links: