Bitcoin is the most popular digital currency. It can be purchased using a variety of methods, including peer-to-peer platforms, cryptocurrency exchanges, payment services, and Bitcoin debit cards. Purchasing crypto with PayPal has become an increasingly popular option for many investors, as it offers a straightforward process and convenient funding options. However, buying Bitcoin with PayPal comes with some unique risks and considerations. This article will explore the pros and cons of buying bitcoin using paypal, as well as provide step-by-step instructions for completing a successful purchase.
First, you will need to create an account with a Bitcoin-accepting exchange. Once you have done so, navigate to the exchange’s website and locate the “Buy/Sell” tab. Select the option to “Link PayPal.” Follow the instructions provided by the exchange to authenticate your PayPal account and grant it the necessary permissions. Once complete, you will be redirected back to the exchange’s website. Once on the exchange’s buy page, select PayPal as your deposit method and follow the instructions to place a trade or order.
Once you have bought Bitcoin, you will need to transfer it to a wallet where it can be stored securely. While you can leave your coins on the exchange if you wish, this isn’t a recommended practice as you risk losing money due to price fluctuations. Instead, we recommend storing your Bitcoin in a secure wallet such as the free eToro wallet, which offers instant buy and sell capabilities for 120+ cryptocurrencies. how to buy bitcoin using paypal