The best way to buy Bitcoin with Paypal 2020: For those interested in buying Bitcoin, using PayPal as a payment method can be a convenient and secure option. In this article, we will explore what Bitcoin is and why using PayPal to buy it can be beneficial.
What is Bitcoin and why use PayPal to buy it
Bitcoin is a digital currency that operates on a decentralized network known as the blockchain. It offers a secure and transparent way to transfer value without the need for intermediaries like banks.
Using PayPal to buy Bitcoin provides several advantages. Firstly, it offers a seamless and user-friendly experience. PayPal is widely accepted and trusted, making it easier for beginners to enter the world of cryptocurrency.
Additionally, using PayPal for Bitcoin purchases provides an extra layer of security. PayPal employs advanced encryption and fraud protection measures, ensuring that your transactions and personal information are kept safe.
Benefits of buying Bitcoin with PayPal
There are several benefits to buying Bitcoin with PayPal. Firstly, it offers instant transactions, allowing you to quickly acquire Bitcoin without delays. Moreover, PayPal provides buyer protection, which means you can dispute a transaction if there are any issues, offering peace of mind.
Furthermore, using PayPal eliminates the need to share sensitive financial information, as you can simply link your PayPal account to your Bitcoin exchange platform. This adds an extra layer of privacy and security to your transactions.
Overall, using PayPal to buy Bitcoin in 2020 provides a convenient and secure method for entering the world of cryptocurrency.
When it comes to buying Bitcoin with PayPal in 2020, you might be wondering which platforms are the best options. While there are several platforms available, two popular choices stand out: Coinbase and LocalBitcoins.
Coinbase is a well-established cryptocurrency exchange that allows users to buy Bitcoin with PayPal. It offers a user-friendly interface and a seamless buying process. With Coinbase, users can connect their PayPal account and instantly purchase Bitcoin. The platform also provides secure storage for your cryptocurrency and offers additional features like trading and a mobile app for convenient access to your Bitcoin.
LocalBitcoins provides a peer-to-peer marketplace for buying Bitcoin with PayPal. It allows users to connect with individuals who are selling Bitcoin and facilitates the transaction process. By using LocalBitcoins, you can find sellers who accept PayPal as a payment method and negotiate the terms of the transaction. The platform is known for its wide range of payment options and global availability.
Overall, both Coinbase and LocalBitcoins offer convenient ways to buy Bitcoin with PayPal. Coinbase is ideal for users who prefer a streamlined buying experience, while LocalBitcoins provides a more personalized approach through peer-to-peer transactions. It’s important to research each platform and consider factors such as security, fees, and user reviews before making your decision.
How to Buy Bitcoin with PayPal on Coinbase
For individuals seeking to buy Bitcoin with PayPal, one of the most popular and trusted platforms is Coinbase. Here’s a step-by-step guide on how to do it:
Setting up a Coinbase account
- Visit the Coinbase website and create an account by providing your email address and a strong password.
- Verify your email address and complete the KYC (Know Your Customer) process by uploading a photo of your ID.
Adding and verifying your PayPal account
- Go to the Payment Methods page on Coinbase and click “Add Payment Method.”
- Select PayPal and log in to your PayPal account.
- Follow the prompts to authorize Coinbase to access your PayPal account.
Purchasing Bitcoin with PayPal
- On the Coinbase dashboard, click “Buy/Sell.”
- Choose Bitcoin as the cryptocurrency you want to purchase.
- Select PayPal as the payment method.
- Enter the amount of Bitcoin you want to buy and click “Buy Bitcoin.”
It’s important to note that there may be fees associated with buying Bitcoin using PayPal on Coinbase, so make sure to review the fee structure before proceeding. Additionally, Coinbase only supports certain countries for PayPal transactions, so ensure that your country is eligible.
By following these steps, you can easily buy Bitcoin with PayPal on Coinbase and start growing your cryptocurrency portfolio.
How to Buy Bitcoin with PayPal on LocalBitcoins
If you’re interested in buying Bitcoin with your PayPal account, LocalBitcoins offers a simple and secure platform to make your purchase. Here’s a step-by-step guide on how to do it:
Creating an account on LocalBitcoins
- Visit the LocalBitcoins website and click on “Sign up” to create your account.
- Fill in the required information, including your name, email address, and a secure password.
- Verify your email address by clicking on the activation link sent to your inbox.
- Set up two-factor authentication for added security.
Finding a reputable seller
- Once logged in, enter your location and select “Buy Bitcoin.”
- Choose PayPal as your preferred payment method.
- Browse through the list of available sellers and carefully review their feedback ratings and trade terms.
- Select a reputable seller with a positive track record and click on “Buy” to view their offer details.
Initiating a trade and completing the transaction
- Enter the amount of Bitcoin you wish to buy and click on “Send trade request.”
- Follow the seller’s instructions to complete the payment through PayPal.
- Once the payment is confirmed, the seller will release the Bitcoin to your LocalBitcoins wallet.
- Verify that the Bitcoin has been sent to your wallet and leave feedback for the seller to help build a trusted community.
Remember to exercise caution and only trade with reputable sellers to ensure a safe and secure transaction. By following these steps, you can buy Bitcoin with PayPal on LocalBitcoins in a hassle-free manner.