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A malicious party can file a PayPal claim and get their fiat currency payment recalled after they receive the bitcoins. This problem is not specific to PayPal, but all credit card backed payment methods Venmo, Dwolla, etc. Some people have found it possible to resolve issues with PayPal payment recall policy. Also LocalBitcoins has guide how to avoid this kind of fraud. Also when done successfully one can profit from the risk, as there is high demand buying bitcoins on PayPal.
LocalBitcoins also has an API, so you can at least half automatize the process, but you still need to have enough buyer audience to make sure there is demand for your bitcoins there is. I would not recommend using Paypal for any transaction involving Bitcoins. Instead for your transactions, I would recommend Bitpay and Dwolla. I had an awful time when I was paid bitcoins from a new international employer instead of USD. But after I figured it all out its pretty easy however converting it was expensive so I'm trying to find a different converter but here's how you do it.
I had actually called Paypal about bitcoins and they said they are very familiar with bitcoins now and as long as you are a verified member of Paypal, there won't be a delay in the transaction. Sign up to join this community. The best answers are voted up and rise to the top. Is it possible to exchange bitcoins into PayPal credit? Ask Question. Asked 7 years, 9 months ago. Active 7 years, 4 months ago. Viewed 13k times. Improve this question. Quill Quill 23 1 1 gold badge 1 1 silver badge 6 6 bronze badges.
Have you tried coin2pal. Add a comment. Active Oldest Votes. Some people are selling bitcoins and receiving PayPal payment on LocalBitcoins. Improve this answer. Mikko Ohtamaa Mikko Ohtamaa 2, 12 12 silver badges 32 32 bronze badges. Charles Hoskinson Charles Hoskinson 1, 12 12 silver badges 21 21 bronze badges.
Mind you, it's essential that the final transaction ends up in a PayPal account. I'd use Dwolla, but it doesn't support transferring to PayPal in any way as far as I can deduce. He has a background in both finance and technology and holds professional qualifications in Information technology. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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Create Free CoinBase Account. Signup for Paxful. Create Localbitcoins Account. Harsh Agrawal. An international speaker and author who loves blockchain and crypto world. Join us via email and social channels to get the latest updates straight to your inbox. Coinbase 2. Paxful 3. Related Posts. Show Hide 0 comments. Leave a Comment Cancel Reply Your email address will not be published. Subscribe to stay updated. Let Me in.
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They do it by offering a secured bitcoin loan. You will need a working PayPal account to accept loan security deposits plus your interest fees. Fees are much higher than at LocalBitcoins or Paxful. This platform is very similar to LocalBitcoins, however, this is a non-custodial P2P marketplace. LocalCryptos is a peer-to-peer marketplace where people exchange crypto with each other. On LocalCryptos, people buy and sell crypto on their terms, using any payment method. There are more than 40 payment methods accepted.
Unlike other P2P marketplaces, LocalCryptos keeps you in charge. Hackers have stolen several billion dollars from centralized crypto services. LocalCryptos takes a different approach. They cut a platform risk by putting you in control of your wallet. When trading on LocalCryptos, only you know your private key — they never take custody of your coins.
Just link your PayPal and Coinbase account for instant withdrawals. Currently, customers are only able to use PayPal to withdraw or sell, and transaction availability depends on region. Coinbase does not support the ability to purchase digital currency using your PayPal account.
There is no fee to withdraw funds to PayPal. We list this option last with the reason. Yes, you can also sell bitcoins to get PayPal on internet forums like Bitcointalk marketplace , but you need to be really careful who are you trading with. As you are probably aware, bitcoin offers some level of anonymity, and with its one-way transaction feature, there is not much you can do if the seller does not deliver funds.
PayPal is also notorious for freezing accounts of people who use it for bitcoin conversions, so do not shout out loud that you are doing that. When doing business on forums, we suggest you to use escrow service within the specific forum or by using an outside service to avoid potential problems.
At least do a small test transaction first. Great and Helpful Information. Thanks for sharing this useful information for Conversion of bitcoin to Paypal. Your email address will not be published. This site uses Akismet to reduce spam. Learn how your comment data is processed. This feature makes bitcoin trading complicated because some buyers used it to defraud sellers by claiming that they have never.
Trading bitcoins is irreversible, but with PayPal, exchanges would become open to chargebacks. They would also have to have a PayPal account, which means that exchanges would have to meet certain requirements set by the online payment service. On this peer-to-peer exchange, you can find traders who own bitcoins and are willing to sell them with PayPal as a payment method. Step 1 : You first need to open an account at LocalBitcoins. Step 2 : After you open an account, you can filter PayPal as a payment method.
Step 3 : Choose a seller you want to trade with. Step 6 : After that, you have to make the payment and confirm the payment. LocalBitcoins uses escrow and bitcoins are held in escrow for 3 hours. Step 1 : You can create an account on Paxful.
Step 2 : After that, you have to find a seller and check the terms of the sale. Step 4 : When you send the payment, wait for the seller to release bitcoins. Paxful also uses escrow to protect both buyers and sellers. Step 1: To create an account, you simply need to submit your email address and password. A verification process is necessary only for traders who want to use currencies like USD to buy bitcoins. Step 1 : Open and verify your account on their website.
Step 2 : you need to deposit money from your PayPal account. Step 3: Then you have to purchase Linden Dollars, which you can use to buy bitcoins on VirWox exchange. Transaction costs are also high for international traders on LakeBTC. It is based in Shangai, China, so international traders have to pay higher fees for deposits. Using PayPal is definitely not the best way to buy bitcoins. There are cheaper and more secure ways out there to buy the cryptocurrency, including a simple wire transfer with one of the established exchanges.
Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini Crypto Platform offers excellent account management options. You can manage your account at a glance, view your account balance hour changes and percent changes.
Get started with Gemini now.
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