How To Buy Crypto With PayPal
Buying crypto with PayPal is the most difficult methods of buying cryptocurrency on the net. Even though PayPal recently enabled purchase of Bitcoin and other top cryptocurrencies on their platform, this is limited to only a few countries and the crypto you buy on PayPal cannot be withdrawn to other platforms.
Also, due to the irreversible nature of crypto transactions and high rate of refunds with PayPal users, using PayPal tend to bear more risk than benefits for sellers or exchanges.
It is highly recommended to use credit/debit card and bank transfer methods to buy crypto on trusted exchanges like Binance, or TrustWallet (read the step-by-step guide here), however, if PayPal is the only means available to you, you may follow these steps to purchase your chosen crypto.
Coinbase added the option for users to buy cryptocurrency using their PayPal accounts in the US. The feature offers a “familiar and trusted” experience as using other payment methods on their platform, also using PayPal as an intermediary means you don’t have to give your bank account or debit card information directly to the cryptocurrency exchange. This feature will expand to other countries in the coming months.
To buy with PayPal on Coinbase, login to your account and go to “Add a payment method” option, and choose PayPal, which will link to the PayPal login screen. Purchases made via PayPal are capped at $25,000 a day.
2. Venmo
What is Venmo?
Venmo is a mobile payment service owned by PayPal, founded in 2009 and based in New York City.
On April 20, 2021, Venmo announced it would be adding Bitcoin and a few other cryptos to its platform. This allows their 70 million users to buy Bitcoin directly after going through a short verification process.
Unfortunately, like PayPal, users cannot withdraw the Bitcoin from their Venmo wallet to other exchanges.
3. Paxful
Paxful is a P2P (peer-to-peer) exchange where various local payment methods are offered by individual sellers to buyers. You can buy Bitcoin and other popular coins directly from individual sellers either by cash, bank wire, PayPal and others. This may seem pretty simple, but it comes with it’s own risk.
Though the exchange do their best to show you high rated sellers, you equally need to do your due diligence by reading sellers reviews and terms of service before making an order.
On a good note, Paxful offers an escrow service that works to minimize the some of these risks.
Thanks for reading and don’t forget to visit climatetoken.finance for more information.
Happy Investing!
