Buy Bitcoins with PayPal
Is it possible to buy Bitcoins with PayPal ? We have often read this question in various forums or chat groups. Yes it´s possible and we show you how.
PayPal actually prohibits the purchase of Bitcoin. Since a Bitcoin transaction cannot be reversed, it is not compatible with the PayPal network. We show you how to do it, with a little detour.
Beware of scammers! We advise you not to buy or sell Bitcoins via PayPal from private individuals. The buyback scam is a popular scam to get to the victims ' money or bitcoins. For example, the scammers offer Fiat money against Bitcoin and pay with PayPal. After the Bitcoin is received on the account, the scammer demands his PayPal payment back and claims to have never gotten the Bitcoin. We'll show you how, VirWox is safe and completely official.
We use the VirWox exchange for the purchase with PayPal. VirWox is a digital currency exchange in gaming (has been around since 2007).
You can buy there also the Second Live currency Linden Dollar. In 2011, Bitcoin was also added.
Now we buy Linden Dollar and pay for it with PayPal. After that, we exchange the Linden Dollar for Bitcoin, dealing with a violation of PayPal policies.
One drawback is the higher cost of PayPal and swapping SLL in Bitcoin. But if you're looking for a quick way to buy crypto, this path is an alternative. If you want to buy more often, we recommend Binance or Coinbase. Here, the costs are a little lower and it is also more comfortable to use. You can find more in our tutorials.
If you want to register with VirWox, you also need to link your account to a Second Life game avatar. An account at Second Life is a prerequisite for us to be able to buy Linden Dollars. After the registration you can now log in and see the My Account section on the left. Here we click on deposit and the page with the deposit options opens.
With PayPal Express purchase we now enter the desired amount, in our example 100 euros, and confirm it. Now the usual PayPal page opens and you complete the purchase.
In the next window you can see that the deposit with PayPal was successful. A PayPal fee of 3,75 € has been deducted.
In the top of the page we click on sales order and can buy Linden Dollar (SLL) with the money deposited. Here, VirWox now charges a commission of 50 SLL + 2.90%.
Now we are exchanging the just bought SLL in Bitcoin. For this we click on the main page on the pair BTC / SLL and enter the desired amount SLL that we want to exchange in Bitcoin and confirm. The Bitcoin, in our case 0.0224 BTC, is immediately credited to our account.
Now we have Bitcoins and can send them to another wallet or pay with it etc ...
You can find out more about Bitcoin and blockchain in our tutorials.
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