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March 19, 2018, 10:41:29 PM |
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Most people buying Bitcoin, or Etherium, with real money from PayPal, are most likely to be interested in investing in any kind of cryptocurrency. I personally was hyped up for buying Tron (TRX) and spent hours searching for ways to get bitcoins from scratch. So here is some of my personal experience advises.
There are 2 ways to buy bitcoin with PayPal: public and private sellers. Public ones are the websites where you enter your data and buy bitcoins. They used to be a viable option, but recently (i mean like 7-8 months) this had been restricted and now you have to submit any kind of ID in order for a purchase. But believe me, it is harder than it sounds. If you overcome the fear of giving away your private info, it is just impossible to get yourself approved. I submitted my ID to literally all of the available public sellers (Bitcoin Panda, Coinbase...) and none of them approved. There are some stories about people who got approved, but I believe that was long ago. If you start digging deeper, to the less popular public sellers, you just risk getting yourself scammed, so beware. EDIT: Recently they added a new option, VirVox, but I, unfortunately, have no finances to check that out.
Now onto the private sellers. Services like LocalBitcoin offer you a stack of private sellers who sell hand-to-hand. There is a myth that they do not require verification in the form of ID. I can say the complete opposite: you have to send them the ID, your photo, your photo holding the ID, have a good reputation on the website and sometimes even a trader certificate. You might be better off just trying to use the public ones.
As a conclusion, I can say that it is unexpectedly hard to buy bitcoin at this time, selling might appear easier. You will have a better chance of getting your hand on bitcoins if you find a person, one of your friends maybe, who owns some and is willing to sell. Believe me, he will not refuse. If not, maybe you can find a crypto terminal in your city, there are already some of them around. I just wanna say that this all is my personal experience and yours might be different.
I spent 30 minutes writing this, worth your attention?
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