After several years of trying to stay away from the cryptocurrency market, PayPal added support to digital assets. That means that PayPal users can now purchase Bitcoin (BTC) and other virtual currencies in just seconds if they have a PayPal account.
But how to do it? How do you buy Bitcoin with PayPal? If you do not know how to do it, we will tell you in this guide. In this way, you will know how to buy Bitcoin with PayPal and get exposure to the fast-growing cryptocurrency market.
Disclaimer: the information shared by AltSignals and its writers should not be considered financial advice. This is for educational purposes only. We are not responsible for any investment decision you make after reading this post. Never invest more than what you are able to lose. Always contact your professional. financial advisor.
The first thing you should do is having a PayPal account. This can be done in seconds as you might already have one. Now that you have your account, you should select the option “Cryptocurrency” which is present in the dashboard.
The whole process is very simple and straightforward, as PayPal is doing everything possible to make it super easy for users to buy Bitcoin. You should then have to select how much BTC you want to buy and also choose a payment method. Once you have selected all the information, you will have to click the “Buy” button that appears on the page.
Remember that you are not only able to buy Bitcoin but also other virtual currencies. Everything depends on your needs and preferences. In the same way, as you purchased Bitcoin, you can sell the digital asset. However, you cannot withdraw your Bitcoin from PayPal as of today.
Let’s summarize how to buy Bitcoin with PayPal:
It is worth mentioning that, as of today, PayPal is making it possible for users in the United States to get access to Bitcoin and other digital currencies. PayPal users in other countries do not have this possibility (yet).
As PayPal explains in its FAQ section, customers in the US (with the exception of Hawaii) can buy, sell, hold and pay using digital assets. These virtual currencies include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
PayPal users in other countries will have to wait until this feature is available for them. PayPal released this possibility in 2020 for U.S. customers but it didn’t make it available for international users. As PayPal explains, they are planning to release this feature to select global markets throughout 2021.
It is worth mentioning that only personal PayPal accounts can acquire cryptocurrencies. Business accounts would not be able to do so through PayPal.
As we mentioned before, there are different virtual currencies that you can buy with PayPal and not just Bitcoin. This is the list of cryptocurrencies that you can buy with PayPal:
Bitcoin, as we know, is the largest virtual currency in the world. It was created in 2008 and released in 2009 and it is now the most valuable digital asset in the market.
Ethereum has also been growing since it was released over 5 years ago. The virtual currency became the second-largest in the world and it is now a blockchain network that supports a wide range of projects such as decentralized finance (DeFi) or other decentralized applications (dApps).
Litecoin is one of the oldest virtual currencies (released in 2011) and it is fast and cheap to use compared to BTC. It is considered to be the silver to Bitcoin’s gold. Finally, it has a large community and it was able to remain among the top 20 since it was created.
Bitcoin Cash is a hard fork of the Bitcoin network created in 2017. This digital asset wants to offer cheap transfers and also fast transactions. This can be achieved by using larger blocks, something that Bitcoin supporters do not want. Thus, PayPal offers a wide range of options to buy Bitcoin and other digital currencies.
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