How To Buy Cryptocurrency With Paypal
The boom of cryptocurrency has fueled the need for several digital ways to buy the assets. Below we highlight the several ways on how to buy cryptocurrency with paypal.
PayPal allows Second Life Lindens, which is usually not an exchange website, but like the most know VirWox, that serves as way to buy in-game items, therefore enabling a platform to be able to buy Bitcoins through PayPal. Creates an even better platform as one can use in-game currency to buy Bitcoins as well.
Before one gets started on this trade, it is essential that they do their homework which is proper research as far as all things cryptocurrency are concerned, and VirWox too. Once such information is gathered, one should set aside the budget for this trade, gambling is risky and if one does not know where to draw the line, it becomes a problem.
Afterwards, go to the VirWox website and:
Create and account, fill in required information, especially since your main purpose is not to purchase the in-game items, the link to avatar should be left blank, Verify email and change password, with the prescribed time which is usually 24 hours.
Deposit amount under the deposit tab, select amount in the form and continue with paypal
Verify then exchange balance for SLL
Convert to BTC, from SLL
Withdraw Bitcoins, make sure to allows move your coins to the wallet for safe keeping.
Caution must be observed in this method and one’s intuition should not be taken for granted. This is basically like meeting someone you do not know for the first time, only virtually, and in this case money is involved. Hence it is an online marketplace for purchasing Bitcoins.
Hence on the website one goes through a list of traders who are selling the coins. Credibility is added by clicking on the traders name to check their feedback and trader volume. Once one is satisfied money is sent via PayPal, and the trader debts the Bitcoins to your account. Again caution must be observed. However several people are using this method, the key factor is to be careful.
This method is very similar to the one mentioned above, however this particular method is more secure due to the escrow services. This platform is an emerging exchange and conversion option of cryptocurrencies. Besides enabling individuals to purchase coins here with different methods one can use there PayPal account as well.
First one needs to have their very own verified PayPal account, and most vendors will ask for an ID before any transactions may begin. Hence once all protocol has been observed and an individual proves they are who they say they are the trade can begin and one is able to purchase there much needed coins.
Whichever method or website one chooses to use for the trade, they need to have done proper research and make sure they understand all that they need to know. There are a couple of other methods on how to buy cryptocurrency with paypal but we have highlighted the common ones used internationally.