Buy Cryptocurrency With PayPal
Whether you’re new to cryptocurrency or have been thinking about buying a few coins, there are several ways to buy them with PayPal. First, you must verify your identity by filling out the W-9 form, and agree to the terms and conditions. Then, select “Buy Now.” Your PayPal account will then reflect the amount of cryptocurrency you’ve purchased, along with its current value. When you’re done, you can go back to your account and see your recent purchases in the “crypto” section.
Depending on your requirements, you can buy Bitcoin or Ethereum with PayPal for as little as $1.00, or as much as $100, per week. You’ll receive a brief description of the asset you’ve selected and will be asked to confirm the information. Afterwards, you’ll be asked to agree to PayPal’s Cryptocurrency Terms and Conditions.
Another option is to use a local marketplace. Websites such as LocalBitcoins and LocalCryptos accept PayPal payments. However, be aware that a local marketplace may charge a fee for transactions. To avoid scammers, you should also make sure that you use a legitimate exchange.
If you decide to purchase crypto through PayPal, make sure to add your credit or debit card. This way, you can protect yourself from serious price slips. Another benefit of PayPal is its highly liquid nature, which protects customers from price dips. You can also withdraw funds using PayPal – up to $30,000 – if your wallet supports this feature. You can also link multiple accounts through PayPal.
How Do I Buy Cryptocurrency With PayPal?
Before you can buy crypto with PayPal, you must have a PayPal account and a wallet. This wallet will contain your private and public keys. It will be used to send and receive cryptocurrency. You must also be aware of PayPal’s restrictions and fees. This may be a barrier to purchasing cryptocurrency with PayPal.
Once you have verified the security of your wallet, you can pay the seller using PayPal. PayPal will then hold the cryptocurrency you’ve ordered in escrow, so you must wait until the seller releases it to you. You’ll be notified when this happens by the platform. If you’re not satisfied with the transaction, you can always contact the seller by email or chat.
If you’re an existing PayPal customer, you might prefer to use the platform because you don’t have to worry about extra fees. However, be aware that PayPal’s new checkout feature does not support crypto payments directly, and converts your crypto assets to US dollars before allowing you to make a purchase. As a result, you’ll be charged a small transaction fee and exchange rates and spread fees.
PayPal is a safe and convenient way to purchase cryptocurrency, but it’s important to note that you’ll still have to be careful when choosing the platform. In most cases, you won’t have the option to move your cryptocurrency to cold storage. You can’t do this if your account is secured with a third-party wallet, but PayPal has a few precautions.