4 Ways to Buy Bitcoin and Other Cryptocurrencies Using PayPal in 2020
Right now, the cryptocurrency market has started booming again meaning that this might be the best time to consider purchasing coins. If you did manage to buy and sell cryptocurrency before the big crash in 2018, now it is your chance to do so. Millions of people around the globe made millions of dollars just by investing in Bitcoin, Monero, Ethereum, and other popular currencies on the market.
However, the reason why most people avoided making any kind of investment in this market is the fact that it wasn’t easily accessible. Many websites that allowed trading of crypto were limited to only a couple of countries such as the United States, Germany, the United Kingdom, etc. Others were limited to Eastern countries such as China, South Korea, Japan, the Philippines, etc. So, even if you did plan on purchasing a number of coins, you probably did not have the freedom to do so.
Fortunately, after its rise in popularity in 2017 and 2018, cryptocurrency has become much more accessible. Most websites in the industry have allowed the use of regular credit or debit cards and even payment processing services such as PayPal and Payoneer.
Keep in mind, if you are not familiar with this world, you will probably have some trouble finding trading websites that allow PayPal as a way to purchase cryptocurrencies. To help the people that have this kind of trouble, we have made this guide that will tell you the best ways to buy Bitcoin in 2020.
eToro is a great choice for those looking to invest in Bitcoin, but who do not really have a need of the coin itself. The whole point of the platform is a bit different than what most people would expect, but it works and it is useful. So, basically, the easiest way you can get your hands to this currency is by getting on eToro.
The platform allows you to buy most currencies that are popular on the market right now, but you won’t actually have them on a wallet. This means you will not be able to gift them to other people, use them to buy yourself a vehicle, or trade them for other cryptos. You can only buy and sell for dollars (or euros, pounds, etc.)
So, what exactly is the point of using eToro? Well, considering just how volatile cryptocurrencies can be, making money out of the price fluctuations is very easy. Take the Bitcoin as an example. In January 2018, it was worth more than $20,000, and just a few days into February of 2018, it was well below $10,000. By using these volatile swings of pricing, you can make a lot of money.
If this sounds like the platform you are looking for, you will be glad to know that it works with PayPal.
The last note about eToro is that it isn’t exactly available from every country around the world which may prove as a problem to some.
Assuming that you have other plans with the Bitcoin you purchase, you will probably need something that is a bit more different than eToro. Cryptocom is the type of exchange website that you are looking for. It allows you to purchase all kinds of crypto such as Ethereum, Litecoin, Dash, ZCash, etc. All you will have to do is register an account and then add your PayPal account to it. Once your account is ready, all you have to do to exchange your Bitcoin to Paypal is go through the simple and short process, so click here for more information.
The number of coins you can purchase will depend on cryptocom’s current reserve.
This website works a bit differently than Cryptocom or eToro. With LocalBitcoins, you are not paying the company directly, instead, you are working with different sellers around the world. These platforms work as a type of middle-man to make sure that all exchanges are done properly and securely. You wouldn’t want to be scammed of the currency you buy, right?
We believe that this platform is one of the best ways to exchange currencies because the transaction process is very fast. It only takes a couple of minutes to get the coins onto your wallet. All of this can be through PayPal which was the entire point of this article.
However, there is one major advantage that is important enough to mention. It can get a bit expensive for buyers because sellers like to a premium on their pricing. If you do not feel like spending a couple of hundred dollars extra, we wouldn’t recommend using this website.
This trading platform takes a unique approach to the idea of exchanging Bitcoins. xCoins claims that they are basically loaning you the cryptocurrency instead of selling it to you. Why exactly would people prefer a loan instead of the real thing? Well, since purchases with PayPal, credit cards, or other similar payment processing services is complicated and almost impossible on most websites on the Internet, xCoins.io has found a way to bypass this complication.
By going through this loan-like transaction, you will be able to get the Bitcoin onto your wallet in just a couple of minutes instead of having to wait for days or weeks. It is definitely an interesting take on the whole situation.
Our biggest concern about this website is the high fees. They are much bigger than you would expect and we are not sure whether paying so much money is really worth the speed of the transaction. You get to decide whether this is really worth it or not.
We should note that xCoins does not allow trading of any other kinds of cryptocurrency except, Bitcoin.
Which one of these four ways do you think is the best way to get your hands on Bitcoin these days? Whichever road you decide to take, we believe that you will be satisfied with the service you are going to get. If you ever have a problem with any of these websites, you can always use their customer support to get some help.