We are well aware of the obstacles to be faced to buy Bitcoin with Paypal; many people bought Bitcoin on Paypal, and then asked for the money back, basically they left the seller without cryptocurrency and without money.
Fortunately, there are also other ways to buy Bitcoin via Paypal today. In fact, it is possible to do it on safe and regulated platforms. We have discovered through an in-depth research, that eToro is the best platform for the purchase of Bitcoin through Paypal. Keep reading this article if you want to find out more and the steps to follow to buy Bitcoin on this platform and other exchanges.
Why should you buy Bitcoin with Paypal?
Since Bitcoins can be bought and sold, but above all stored in a digital wallet to resell them at a greater value, their popularity has grown over time. It is believed that in 2017 the price of Bitcoin reached unprecedented levels, exceeding the record figure of 20 thousand US dollars. However, in 2018 Bitcoin, dragging all other digital currencies with it, burned around 700 billion dollars in capitalization. In a nutshell, it's more agreed to buy Bitcoins with Paypal and resell them, rather than keeping them in your digital wallet. This practice is also performed through automatic trading robots, such as Bitcoin Era and Bitcoin Revolution. For now though, let's focus on the platforms that allow us to buy and perform the Bitcoin Euro Paypal conversion.
How to buy Bitcoin with Paypal - step-by-step guide
In this guide we will analyze all the necessary steps to be performed to buy Bitcoin with PayPal.
How to buy Bitcoin with Paypal on eToro
Unlike what happens on other platforms, those who buy Bitcoin with PayPal through eToro, do it through a simple and direct process, which is the main reason why we recommend this platform over others.
Step 1: open an account
Log in to the official eToro website and open a new account by clicking on "Sign up now".
You will need to enter your personal information in the form that appears and send it to open the account.
eToro also offers you the possibility to access via your Google or Facebook accounts, completely skipping filling in the form.
Step 2: verify your identity
Since it is a regulated platform, eToro requires all users to submit the KYC and AML procedures. To do this, you will need to upload a copy of your identity card, driving license or passport.
This is not only for buying Bitcoin, but also for answering the question "how to sell Bitcoin Paypal" through the platform and a verified account.
Step 3: deposit the funds into your eToro wallet and buy Bitcoin
You can deposit the funds into your electronic wallet using your bank account (transfer) or by credit card.
eToro supports numerous payment methods, including the most popular electronic wallets such as PayPal (obviously), Neteller and Skrill. Select PayPal if it is your preferred payment method and make your first deposit.
Beginners can start with a $ 250 fee, which is useful for starting to understand how the platform works.
How to buy Bitcoin with Paypal on Plus500
Plus500 is a platform very similar to eToro and equally safe and regulated. Here are the three steps to follow to buy Bitcoin with Paypal on Plus500.
Step 1: open an account
If you want to buy Bitcoin with PayPal on Plus500, the first thing you need to do is go to its official website and register. Doing so is quick and easy. All you have to do is access the site page and enter your information in the registration form, also entering your email address and choosing a secure password to protect your account. At this point you will have to verify your phone number to confirm your identity.
Before you can make your first deposit, you will need to complete a questionnaire according to ESMA restrictions. At the beginning you will be asked to fill in a short form by entering your personal information, including full name, home address, country of residence and date of birth. At this point, you will simply have to answer a few questions about your financial situation, including revenue and why you trade. Once this is done, you will need to answer a few more questions about your knowledge and experience in trading.
Step 2: deposit the funds into your account
At this point, all you have to do is make your first deposit by clicking on "deposit" in your account. Here you can select PayPal as a secure payment method. The minimum deposit required to start trading with Plus500 is $ 100.
Step 3: start trading
Once you have made the deposit, you can click on "trade" in the menu on the left of the page to start trading. Now you can access the trading platform. If you scroll down you will find the option for cryptocurrency trading. When you view Bitcoin, you can trade with the cryptocurrency by clicking on "sell" or "buy". It really is very simple.
Purchase Bitcoin with PayPal in Italy
Now that you know some of the best methods to buy Bitcoin with PayPal, the time has come to find out the best methods to do it in Italy.
The best method to buy Bitcoin with PayPal in Italy is through Plus500. The reason is simple, this platform is regulated by the CySEC (Cyprus Securities and Exchange Commission) and the FCA (Financial Conduct Authority).
What you need to do to buy Bitcoin on Plus500 is to follow the steps above. Once you have made your initial deposit to Plus500, you just need to click on the Bitcoin market on the platform screen and click on the Buy button.
Tips on how to buy Bitcoin with PayPal
Here are some tips for buying Bitcoin with Paypal that you can follow, regardless of the platform you choose to use.
Verify your account and identity before making any purchase. The reason why you should do it right away is that not all exchanges and cryptographic providers that allow integration with PayPal have the same regulatory process. Therefore, you may find yourself continually entering the same information over and over again, when it would have been enough to do it only once in the beginning.
Always check for phishing links. PayPal phishing links are by no means rare. Phishing links are fake pages that replicate real PayPal logins and pop-ups that require your login by tricking the user into thinking they are a secure computer. After entering the information, the window dissolves and the phishing link takes the PayPal login information. To protect yourself, always check the security of your pop-ups and all the cryptocurrency exchanges you are using and allow the integration of PayPal.
Do some research
Search as much as possible. If you are not sure whether you can buy Bitcoin on an exchange, try contacting an official team member. Do your homework too. Lower level and lesser known sites are more likely to be scams.
Bitcoin vs PayPal
Understanding the differences and similarities between PayPal and Bitcoin is essential for making secure purchases. Let's start by seeing their similarities, since most users who are already more accustomed to Bitcoin or PayPal, just want to know more about one of the two options.
- Both Bitcoin and PayPal are payment methods
- Both are used as a P2P payment system
- Both are used to create fast and cheap online transactions
- Bitcoin and PayPal represent technologies that aim to simplify the digital payment process
- Both Bitcoin and PayPal allow international transfers and direct integration with online platforms
- Bitcoin is itself a currency, while PayPal is not a transferable currency or entity / activity
- PayPal works with banks and individuals to process payments almost like a gateway; Bitcoin is decentralized
- Bitcoin uses distributed accounting technology to show validated transactions. PayPal relies on banks to verify transactions
- Once a payment has been released with Bitcoin, it cannot be canceled. PayPal has a charge function to cancel payments
- Bitcoin uses encryption and users don't need to be identified. You need to load your national passport / ID or enter your bank details to open a PayPal account
Is Bitcoin better than PayPal or vice versa?
Bitcoin is not necessarily better than PayPal and PayPal is not better than Bitcoin, because they are two similar but different things at the same time.
Theoretically, Bitcoin allows for a faster transaction speed, is regulated and confirmations are faster, all at a fraction of the cost imposed by PayPal, however, since PayPal accepts legal currencies, it is currently the most liquid form of payment available.
Although Bitcoin can maintain an internal technical advantage, liquidity and adoption also come into play; practically 95% of all the modern stores used allow integration with PayPal, while only a small percentage allows the processing of Bitcoin.
This is the compromise and subsequent argument that arises. Although Bitcoin can technically prove more efficient than PayPal as a form of processing, it has many problems that it must overcome in the next few years to be named really better than PayPal.