Upon realizing the inadequacies of fiat money, Satoshi Nakamoto created Bitcoin as an alternative. The creation of this digital currency was a response to the 2008 financial crisis. This digital currency presents tons of benefits, such as fast and real-time transactions with low to no transaction fees.
On the other hand, there are various ways you can use to purchase this digital money. However, the most popular way to buy this virtual money is through an exchange. Crypto exchanges have emerged globally to help people trade, buy or sell this digital asset. Either way, you can also use PayPal to buy this virtual money.
However, earlier on, it wasn’t easy to purchase Bitcoin using PayPal, but things have eased. Here’s a step-by-step guide for buying this virtual money using PayPal.
Login to PayPal
Create a PayPal account first before anything else. Once done creating one valid account, log in to your account, and you will find the option of cryptocurrency in the top right of the dashboard.
After locating the option, you can now select this digital money if that is what you want to purchase. Later on, choose how much you wish to purchase. You will have to decide the number of dollars you want to spend while buying Bitcoin.
Nevertheless, you have to decide your preferred payment method. Chances are that you already linked your bank account with your PayPal account. On the other hand, if you are not comfortable using your bank account, you can use another method that works for you. Finally, you can hit the buy button and finalize the transaction. There will be a confirmation text on your screen, and your Bitcoins will reflect on your PayPal account.
On the other hand, a few exchanges help one buy this digital money using PayPal. These exchanges include:
eToro
eToro is one of the most reliable ways to purchase this digital money using PayPal. This exchange has stood its ground to allow the purchase of this digital money using PayPal despite other crypto exchanges shutting down.
This exchange is also an excellent way to use PayPal to gain exposure to this digital asset. eToro lets you speculate on the prices and access this digital asset and other altcoins.
In other words, eToro is a social trading platform offering financial services and lets you deposit via PayPal.
However, other than eToro, bitcoin 360 ai is another reliable exchange you can use to purchase this digital money.
Coinbase
Coinbase is another reputable exchange that allows one to purchase this virtual money using PayPal. Also, Coinbase is among the most straightforward Crypto exchanges to use while buying this virtual asset using Bitcoin. Moreover, Coinbase allows you to purchase this virtual money connected to debit cards and bank accounts.
Crypto.Com
Crypto.com is an excellent option if you are looking for a way to purchase Bitcoin using PayPal. More so, Crypto.com accepts fiat currency. Therefore, PayPal users can send over USD via a bank transfer. Additionally, Crypto.com offers users a free crypto wallet app to store their holdings securely by ensuring two-factor authentication. As a result, you should not be worried about the possibility of losing your digital holdings.
The Bottom Line
Generally, purchasing this digital money using PayPal is easy and better than before. Many exchanges like we have seen above allow users to buy this virtual asset using PayPal. PayPal is a money transfer app that is available and accessible globally.
