For cryptocurrency fees that will apply after December 31, click here. Buying and selling cryptocurrency is subject to a number of risks and may result in significant losses. Please see our disclosure here for more details.
PayPal does not make any recommendations regarding buying or selling cryptocurrency. Consider seeking advice from your financial and tax advisor. Buying, selling, and holding cryptocurrencies is not regulated in many states, including the State of California. PayPal, Inc. Buying, selling and holding cryptocurrency with PayPal is not available in Hawaii and where prohibited by law.
Explore articles about crypto to learn more. See below:. In this chapter, we will answer some of the most commonly asked questions about buying bitcoin using Paypal. Using an exchange like Coinbase you can sell bitcoins to your PayPal account.
There have been rumors that PayPal has been planning Bitcoin integration. And as recently as July 22, , an unknown source inside of PayPal claims they will be adding a way to buy bitcoins through PayPal soon. Even so, PayPal still has not integrated Bitcoin with its services and even if the rumors are true, there is no guarantee there will be an integrated wallet.
Paxful is another way to buy bitcoin with PayPal. You can view listings here. Do you want to buy large amounts of bitcoin? Try buying bitcoins with bank transfer instead. As mentioned above, you can sell your Bitcoins to Coinbase or on LocalBitcoins and receive cash to your Paypal account. The fees for selling bitcoins to PayPal are 3. You can use this method to buy bitcoins and then trade the bitcoins for another cryptocurrency using an exchange like Poloniex or Kraken. No, Poloniex only deals with cryptocurrency and does not accept deposits using credit card, bank transfer, cash or PayPal.
Kraken is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal. In this last chapter, we will cover common scams and hacks related to buying Bitcoin using paypal, as well as how to store your Bitcoins after buying so that they remain safe.
It's up to you to protect you investment, so pay close attention - buying is only half the battle. I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same. Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.
Following these two basic principles should help you avoid theft, scams, and any other loss of funds:. In this bonus chapter, we walk you through how to buy bitcoin on localbitcoins using Paypal, every step of the way.
By the time you complete this chapter, it should be easy for you to get your Bitcoins using Paypal. We don't recommend buying bitcoins with PayPal on LocalBitcoins. Another con of using LocalBitcoins is you are dealing with an individual seller rather than a marketplace.
You will also need a verified phone number connected to your LocalBitcoins account. To start, login to LocalBitcoins and then enter your buy amount and PayPal as the payment method:. You should now see a list of sellers willing to accept PayPal. In the example above, you can see the buyer's limits on the left side USD. On the right, the buyer has laid a number of rules and requirements for your PayPal account. This buyer, for example, requires that you send a picture of your photo ID, have a verified PayPal account, and also send a selfie holding your ID.
Note, you can also check a seller's feedback and history. Click on the username on the right side and a new tab will show that looks like this:. If you had a verified account then on the left side you would be able to enter how much you want to buy and go through with your trade! In this bonus chapter, we discuss the history of Paypal's comments on Bitcoin and its recent addition to the platform. In late October of , Paypal announced it would begin selling Bitcoin and 3 other common cryptos on its platform, directly to its million users.
Hardcore Bitcoiners will be sad to know that the buying functionality is really limited for now. Users can only buy and sell thier Bitcoins within Paypal. That means that users cannot withdraw the coins or even transfer them to other paypal users. Because of this, there is no way for a buyer to take custody of the coins himself. He must trust Paypal to custody them for him.
This may be ideal for older, less technically abled investors who merely want price action from Bitcoin. Still, for now, Paypal is basically offering users a way to speculate on the price of Bitcoin and nothing else. There is one exception to this. Users can spend the Bitcoin with merchants who accept Bitcoin via Paypal. This is because Paypal is not sending the merchant Bitcoin anyway. They are payhing the merchant in USD and accepting the Bitcoin on their behalf.
So when you spend your Paypal Bitcoins at one of these merchants, they are just selling your Bitcoin for you in order to pay the merchant. This announcement seemed to negate an earlier suggestion by a top executive at PayPal that Bitcoin would become a popular payment option.
However, Rainey indicated that it would take years before this would ever become a reality. Max Levchin was quoted in December saying that the digital asset technology was revolutionary. Even so, Levchin did not think that PayPal was ready to embrace the technology yet.
In early , it emerged that Paypal had begun something called the "Blockchain Research Group" and posted job openings for eight engineering positions in San Jose, California and Singapore. We are a strong believer in the potential of blockchain. The digitization of currency is only a matter of when not if. Then, on July 22, , Coindesk broke the story that Paypal would be adding Bitcoin and other crypto purchasing through its platform soon.
As of now, we do not know when Paypal intends on launching this service or even what coins it will support, though its almost certain Bitcoin will among the coins offered. Paxos will handle all custody, KYC, and compliance. Paypal will merely allow you to use your paypal balance to or connected cards to buy and sell Bitcoin through its own user interface.
This allowed merchants using Paypal to also accept cryptocurrencies with minimal effort. John Donahoe, the Chief Executive Officer at eBay, said he believed such a partnership would hugely benefit his company in the future. It's important to note, though, that this story comes from an anonymous source, and has not been confirmed by Paypal at this time. However, the source suggested that an announcement would be mader later this week.
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