Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
To transfer Bitcoin to PayPal account following these steps:
1.) First of all need to open an account on VirWox.com website where you can exchange your Bitcoins for SLL (Second Life Lindens) which is an in game currency used in popular virtual world “Second Life”.
You can use SLL to buy things in Second Life or even convert it back to Bitcoins if you want using VirWox again. That’s why we are using VirWox as an intermediate step while transferring our Bitcoins to PayPal account.
NOTE: Warning: Transferring Bitcoin to your PayPal account is not supported, and is not recommended. There is no direct way to do this, and any websites or services that claim to be able to do this are likely scams. If you are looking for a way to convert Bitcoin into cash, it is better to use an exchange or other reliable service.
2.) Now open your Bitcoin wallet which you are using currently and send the amount of Bitcoins that you want to transfer to your VirWox account.
Make sure you have enough balance in your Bitcoin wallet before sending as the transaction fee will be deducted from your total balance.
3.) After sending the amount click on “ My Account ” tab and then click on “ Deposit & Withdrawal ” from the drop down menu as shown in the image below:
4.) On this page you need to scroll down and look for PayPal Express Checkout under Withdrawal section and click on it:
5.) Now enter the amount of SLL that you want to withdraw from your VirWox account and click on “ Withdraw ” button:
6.) Finally enter your PayPal email address where you want to receive the money and click on “ Withdraw ” button again:.
8 Related Question Answers Found
Yes, it is possible to exchange Bitcoin for PayPal. There are a few things to keep in mind when doing so, however. First, it is important to remember that PayPal is not a direct bitcoin exchange.
It’s no secret that Bitcoin has had its fair share of volatility over the years. This has made some people very rich, but has also left a lot of investors wondering what to do with their Bitcoin when the price starts to drop. One popular option is to transfer Bitcoin to PayPal.
Yes, you can buy Bitcoin on PayPal. Here’s how:
First, you’ll need to create a PayPal account if you don’t already have one. Then, link your bank account or debit card to your PayPal account.
Yes, you can buy Bitcoin with your PayPal account. There are a few ways to do this, and each has its own advantages and disadvantages. The first way is to use a peer-to-peer exchange like LocalBitcoins.
Yes, you can buy Bitcoin through PayPal. However, there are a few things to keep in mind when doing so. First, PayPal does not currently allow the purchase of Bitcoin directly through their platform.
As the world’s first and most well-known cryptocurrency, Bitcoin has taken the lead in recent years when it comes to digital assets. And while there are a number of different ways to purchase Bitcoin, PayPal is one of the most popular methods. But can you buy Bitcoin with PayPal?
Yes, you can buy Bitcoin using PayPal. There are a few methods you can use to do this, and we’ll walk you through them step-by-step. One popular method is to use a peer-to-peer exchange like LocalBitcoins or Paxful.
A lot of people are looking for ways to buy Bitcoin with PayPal. The problem is that PayPal has been very clear that they are not going to allow their users to buy Bitcoin with PayPal. This is because PayPal is a centralized company and Bitcoin is a decentralized cryptocurrency.
