PayPal has been one of the most popular payment processors for online merchants for years. But can you use it to buy Bitcoin?
The short answer is no. You cannot use PayPal to buy Bitcoin.
However, there are a few workarounds that will allow you to do just that.
LocalBitcoins is a peer-to-peer marketplace that allows buyers and sellers to trade Bitcoin directly with each other. The site allows you to find people in your local area who are willing to sell Bitcoin for PayPal.
Once you find a seller that you want to work with, you can begin the trade. The seller will then send you their Bitcoin address so that you can send them the money through PayPal.
Once the funds have been sent, the seller will release the Bitcoin to your wallet.
Paxful is another peer-to-peer marketplace that allows buyers and sellers to trade directly with each other. The site also allows you to find people in your local area who are willing to sell Bitcoin for PayPal.
The process for buying Bitcoin on Paxful is similar to LocalBitcoins. Once you find a seller that you want to work with, you can begin the trade.
The seller will then send you their Bitcoin address so that you can send them the money through PayPal. Once the funds have been sent, the seller will release the Bitcoin to your wallet.
Bitcoin ATMs are machines that allow you to buy Bitcoin with cash. Some of these machines also allow you to use PayPal as a payment method.
To find a Bitcoin ATM near you, check out Coin ATM Radar.
Once you find a machine that accepts PayPal, simply insert your cash and select PayPal as your payment method. You will then be given a QR code that contains your Bitcoin address.
Send the amount of Bitcoin that you want to buy from your wallet to this address and wait for the transaction to confirm. Once it does, the machine will dispense your cash.
As you can see, there are a few ways that you can buy Bitcoin even if PayPal doesn’t support it directly. LocalBitcoins and Paxful are great peer-to-peer marketplaces if you want to trade directly with another person.
And if you’d rather not deal with people at all, Coin ATM Radar can help you find a machine that will let you buy Bitcoin with cash and without having to go through any middlemen whatsoever.