Best way to buy bitcoins through Paypal

[jasta2]

I want to buy bitcoins with USD using a Paypal account.  I searched Google and, I tried the VirWoX method, but with the multiple transactions required to make the purchase and get it to my wallet, the total transaction cost came to 20%, which to me seems ridiculously high.    I want to make BTC purchases in relatively low amounts like 50 to 100 USD at a time.

Does anyone know whether there are there any less expensive options out there to convert Paypal USD to BTC in my Wallet?

[StevoTC]

Hi. Not many deal with PayPal because it's too easy to say that you never received the coins.

There should be a few exchanges in the US that will do a bank transfer for you. May take you a couple of days to get registered and set up though..

Good luck. I'm sure someone will chime in soon with a better response.

[hyphenated]

The main disadvantages of PayPal are the fees, and the fact that vendors charge more because, as has been already said, the possibility that you will say you never received them and initiate a chargeback.

Unfortunately, several banks and currency transfer firms are making it more difficult to transfer funds to cryptocurrency exchanges (probably because they are protecting their business model).  Unless you are a well-stocked miner you need to inject some fiat into the web, and most cost-effective way is to make an EFT through your bank.  This leaves footprints and is not particularly cheap, so you need to get some economies of scale, and you will need to go through some extensive ID processes with the exchange.  So start with the exchange and work backwards.

I've used BitStamp and BTC-e; both worked.  BitStamp upgraded their processes which took me a while to sort out; BTC-e were slightly easier.  If you are in the US, it will probably be cheaper to use BTC-e; Europe will probably be BitStamp.

You probably need to transfer a couple of thousand US to minimise proportional costs, so make d**n sure you have done your due diligence!

Good luck