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Author Topic: How to buy bitcoin with PayPal in 2020 [NEW]  (Read 266 times)
Marystpatrick
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January 23, 2020, 02:11:31 PM
Merited by hugeblack (2), malevolent (1)
 #1

In this post, I’m going to show you EXACTLY the 5 best sites to buy bitcoin with PayPal in 2020 easily and securely.

In fact, this is the exact process that I use to purchase $3,000 worth of bitcoin using my Paypal with these 5 best sites.


So, if you want fast, easy and secure ways to buy bitcoin with Paypal, then you’ll love this new tutorial.

Check it out  Cool: https://uranuscrypto.com/buy-bitcoin-with-paypal/
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January 23, 2020, 03:50:17 PM
 #2

A very detailed article, good job! I suggest you add LocalCryptos to the list as well, it's a great alternative for Paxful and LBC (no KYC).

Also, I understand that this might be a sponsored article, but I'm not sure how for a website that charges 12.5% fees be "one of the best ways" to buy bitcoin. Magnatus should be removed.

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January 23, 2020, 11:15:10 PM
Merited by suchmoon (7)
 #3

Both LBC and Paxful now have limits on transactions you can make without verification, so buying $3k without verification is not possible.

I would still suggest that if newbies want to buy BTC with paypal, and they're willing to undergo verification, they might as well just buy it through bank transfer or cash deposit on LBC which will yield infinitely better rates. Better yet, use an actual exchange. Only if you can't withdraw your funds from paypal to your bank for some reason should you consider using PP to buy BTC.

The spreads on these things are atrocious, 10-15% seems standard and even good rates for non-verified buyers.
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January 24, 2020, 02:14:55 AM
 #4

A very detailed article, good job! I suggest you add LocalCryptos to the list as well, it's a great alternative for Paxful and LBC (no KYC).

Also, I understand that this might be a sponsored article, but I'm not sure how for a website that charges 12.5% fees be "one of the best ways" to buy bitcoin. Magnatus should be removed.

Thanks for your suggestion.
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January 26, 2020, 06:51:29 PM
 #5

An excellent article, which I liked is a narration of detail plus explanation with pictures, it seems that you have made an effort to write the article.
Why did not explain the decentralized ways to buy? For example, you have this forum, buying through http://bitify.com/, or any central broker who offers the transfer service personally.
Second, there are several ways to buy indirectly, "they vary by country." For example buying and selling gift cards, and so on.





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January 30, 2020, 02:54:24 PM
 #6

An excellent article, which I liked is a narration of detail plus explanation with pictures, it seems that you have made an effort to write the article.
Why did not explain the decentralized ways to buy? For example, you have this forum, buying through http://bitify.com/, or any central broker who offers the transfer service personally.
Second, there are several ways to buy indirectly, "they vary by country." For example buying and selling gift cards, and so on.
Why I think OP did not mention the decentralized ways to buy is because he mentioned in the subject itself about buying bitcoin with PayPal. PayPal is a fully centralized wallet linked to our bank accounts directly so any purchase made from PayPal might reflect the transactions in our bank statements which might create an problem for taxation and audit of our bank accounts.

Most of the countries have not yet authorized bitcoins and transacting with bitcoins is yet treated as illegal in few countries so why should we take a risk by buying bitcoins with PayPal(bank accounts indirectly). Most of the time, I have tried to avoid doing trades with centralized authorities like PayPal.

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January 31, 2020, 06:20:43 AM
 #7

An excellent article, which I liked is a narration of detail plus explanation with pictures, it seems that you have made an effort to write the article.
Why did not explain the decentralized ways to buy? For example, you have this forum, buying through http://bitify.com/, or any central broker who offers the transfer service personally.
Second, there are several ways to buy indirectly, "they vary by country." For example buying and selling gift cards, and so on.
Why I think OP did not mention the decentralized ways to buy is because he mentioned in the subject itself about buying bitcoin with PayPal. PayPal is a fully centralized wallet linked to our bank accounts directly so any purchase made from PayPal might reflect the transactions in our bank statements which might create an problem for taxation and audit of our bank accounts.

Most of the countries have not yet authorized bitcoins and transacting with bitcoins is yet treated as illegal in few countries so why should we take a risk by buying bitcoins with PayPal(bank accounts indirectly). Most of the time, I have tried to avoid doing trades with centralized authorities like PayPal.

That is why is more preferable to buy bitcoin through bank transfer, cash or credit card.
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February 01, 2020, 08:03:30 AM
 #8

The article is really much detailed and might prove useful for new traders who might want to buy bitcoin with paypal in maybe their first transaction. But, buying bitcoins with paypal might seem a bit riskier. Paypal has never been safe for bitcoin traders as paypal might charge you back for the transactions spent months ago. This does not make traders reliable with using paypal.

But, buying might not seem that riskier as compared to selling bitcoins for paypal. Paypal is good for day to day transactions and what I think is it should not be related to the cryptocurrency transactions as paypal completely is centralized and may not make our trades secure any more.

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February 02, 2020, 11:18:48 PM
 #9

You can't buy Bitcoin on eToro. You buy price exposure that you can hopefully profit on at some point. There's no way of depositing or withdrawing the real deal. It's no more than an entry on their ledger.

Some people won't care about that. Some will.

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February 09, 2020, 12:45:10 PM
 #10

In this post, I’m going to show you EXACTLY the 5 best sites to buy bitcoin with PayPal in 2020 easily and securely.

In fact, this is the exact process that I use to purchase $3,000 worth of bitcoin using my Paypal with these 5 best sites.


So, if you want fast, easy and secure ways to buy bitcoin with Paypal, then you’ll love this new tutorial.

Check it out  Cool: https://uranuscrypto.com/buy-bitcoin-with-paypal/

Buying Bitcoin through paypal means you need to clear KYC. That is not the whole Idea of Bitcoin. I understand that some people would want to use PayPal but, in my point it is better to use an exchange straight a's most exchanges allow you to buy 2BTC without KYC.

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February 09, 2020, 06:02:27 PM
 #11

Buying Bitcoin through paypal means you need to clear KYC. That is not the whole Idea of Bitcoin. I understand that some people would want to use PayPal but, in my point it is better to use an exchange straight a's most exchanges allow you to buy 2BTC without KYC.

You're referring to altcoins exchanges like Binance and Kucoin, that doesn't really help in this case. People want to buy bitcoins using their fiat.

I do agree though, that KYC defeats the whole purpose of using bitcoin but there are plenty of alternatives out there (as mentioned above), but sadly, some of us seem to not mind sacrifying their privacy on the cost of gaining speed and convenience.

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February 10, 2020, 12:44:50 AM
 #12

This is a good resource but unfortunately some of the sites listed on the list do not accept my area for transactions, and in my case I have a long time buddy since 2014  who I trade with Paypal to Bitcoin and Bitcoin to Paypal and everything is smooth until now I want to retain my privacy when dealing with Paypal.

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February 10, 2020, 05:30:21 AM
 #13

You can't buy Bitcoin on eToro. You buy price exposure that you can hopefully profit on at some point. There's no way of depositing or withdrawing the real deal. It's no more than an entry on their ledger.

Last time I checked they said that feature is 'coming soon'. According to[1] & [2], it looks like you can do it now (unless I misinterpreted these).

It's tricky doing trade here, as most of the products are not the 'real' one.

[1] https://www.etoro.com/customer-service/help/1306615602/how-much-does-it-cost-to-transfer-cryptoassets-from-my-etoro-trading-account-to-the-etoro-wallet/
[2] https://www.etoro.com/en-us/customer-service/help/1306687582/can-i-send-receive-cryptocurrencies-to-and-from-the-etoro-wallet-freely/

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February 10, 2020, 08:55:12 PM
 #14

You can't buy Bitcoin on eToro. You buy price exposure that you can hopefully profit on at some point. There's no way of depositing or withdrawing the real deal. It's no more than an entry on their ledger.

Last time I checked they said that feature is 'coming soon'. According to[1] & [2], it looks like you can do it now (unless I misinterpreted these).

It's tricky doing trade here, as most of the products are not the 'real' one.

[1] https://www.etoro.com/customer-service/help/1306615602/how-much-does-it-cost-to-transfer-cryptoassets-from-my-etoro-trading-account-to-the-etoro-wallet/
[2] https://www.etoro.com/en-us/customer-service/help/1306687582/can-i-send-receive-cryptocurrencies-to-and-from-the-etoro-wallet-freely/

I would avoid etoro simply because of the fact that they seem to be more concerned about the derivatives side of things as opposed to the spot exchange role that they supposedly want to also perform. This means that they probably have a lack of expertise in this area and could potentially have a lot of fees (which they already have).

It's sort of like the Virwox situation - you can potentially buy BTC from them, but there are a ton of restrictions because of the fact that their primary business isn't supposed to be dealing with paypal -> BTC transactions.

Also, there's basically no chance that they are going to allow this to happen without KYC, which is what I imagine most people want to avoid when they are buying coins with paypal.
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February 10, 2020, 08:57:49 PM
 #15

Last time I checked they said that feature is 'coming soon'. According to[1] & [2], it looks like you can do it now (unless I misinterpreted these).

Interesting. I do remember now them making a mention of it. It looks quite selective still. I wonder whether this will have them withdrawing Paypal as an option.

Also, there's basically no chance that they are going to allow this to happen without KYC, which is what I imagine most people want to avoid when they are buying coins with paypal.

I think the ability itself with anyone faintly reputable is the thing people desire. You'd have to be a prize thicko to think you'll get someone willing to sell for Paypal AND be KYC free.

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February 11, 2020, 03:16:20 PM
 #16

If you use PayPal the government will know about your transaction. I already bought a lot of Bitcoin using transfer via Best Western. I have always transferred within the norms of my country so as not to have problems with legalization. The ideal would be P2P but I still find it a bit complicated.
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February 12, 2020, 03:18:20 PM
 #17

A very detailed article, good job! I suggest you add LocalCryptos to the list as well, it's a great alternative for Paxful and LBC (no KYC).

Also, I understand that this might be a sponsored article, but I'm not sure how for a website that charges 12.5% fees be "one of the best ways" to buy bitcoin. Magnatus should be removed.

My instant thoughts was this after I read the article.
Also I've heard about Paxful adding limits on transaction without verification
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February 12, 2020, 05:18:40 PM
 #18

My instant thoughts was this after I read the article.
Also I've heard about Paxful adding limits on transaction without verification

Yes. You're forced to submit your documents if your trading volume exceed 1500$.

Sellers (long term suppliers who are looking to build trust) are probably the ones who are going to have a hard time with this. As for the buyers, I'm pretty sure they would just abuse the system and make multiple accounts each time they reach the limit since all it takes to make an account is a phone number (Of course, that's not recommended unless you want to lose your funds).

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February 12, 2020, 08:17:22 PM
 #19

Sellers (long term suppliers who are looking to build trust) are probably the ones who are going to have a hard time with this. As for the buyers, I'm pretty sure they would just abuse the system and make multiple accounts each time they reach the limit since all it takes to make an account is a phone number (Of course, that's not recommended unless you want to lose your funds).
On a bit of an unrelated note: I've delved a bit deeper into the whole exchanging Bitcoin to Paypal business model, and i really wonder how sellers who trade in big volumes (10k+) do so legally speaking.


Googling: It seems to be against Paypal's TOS to make currency swaps, see


Quote from: 2017
On May 10, 2017, I received an email from PayPal stating that the selling of Bitcoin means I was operating as a currency exchange (which includes electronic media/money/currency), which is against the Acceptable Use Policy.  Quote "Per our current Acceptable Use Policy for Money Service Businesses, PayPal may not be used to operate a currency exchange, bureau de change or check cashing business including the sale of bitcoin."
https://www.paypal-community.com/t5/About-Settings/Selling-Bitcoin-is-Against-PayPal-Policy/td-p/1215793

Now this was from 2017, and when i now scroll through their Acceptable Use User Agreement, it states the following in a one-liner.

Quote
(h) involve currency exchanges or cheque cashing businesses,
https://archive.is/7lORV#selection-117.657-117.718

How do these paxful traders with 1000+ trades circumvent these rules?

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