Anywhere to use Paypal dollar

[SadGoodbye]

I plan to buy my first ever BTC soon but I don't want to use a bank account to make payment and that includes my master card so I have some dollars laying around in my Paypal account have I opened a year ago and it's still functioning very well, how can I use Paypal to buy BTC direct?

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[OmegaStarScream]

You can use Coinbase if you're from the U.S[1] otherwise your best best would be to use P2P platform like Paxful.

[1] https://help.coinbase.com/en/coinbase/getting-started/add-a-payment-method/paypal-faq
[2] https://paxful.com/buy-bitcoin/paypal

[Solosanz]

The another alternative is localcryptos and hodlhodl.

In addition you need to be careful for doing P2P transaction, make sure you've read the full tutorial or guide in a platform that you will use. You should follow the tutorial because you would get scammed if you release your funds too early or the customers ask you doing private trading without the platform. Also don't get tricked with very cheap price, there's a chance it's sold by a scammer.

[_morghulis]

Paxful is a great option if your planning to buy a small amount of BTC because paxful doesn't require id verification for small amount but if you don't plan on undergoing id verification and also want to purchase huge amount of BTC then I'll recommend you check out Local.bitcoin.com. Or you could check out this thread to see which one suites you. Help: A list of LocalBitcoin alternatives (P2P marketplaces)



~valar~

[hd49728]

PayPal is risky if you have a trade with unknown trade partner and if you are newbie in PayPal trading.

It can be charged back so if you trade with PayPal, only restrict yourself to choose trusted trade partners. Don't fall to offers with too good rates, they are likely scammers who will charge back.

Because it is risky, don't trade with too much value in a single trade.

Paxful is a great option if your planning to buy a small amount of BTC because paxful doesn't require id verification for small amount

On Paxful, check account age, total trading volume, total competed trades and feedback from previous trade partners. If you trade with PayPal, check feedback for PayPal.

You can check offers with Trusted badge or from vendors, or from VIP, Power traders. They are very less likely will scam you.

[LeGaulois]

Did you ever bother to read the topic?
How the @OP can be a victim of a chargeback since he's himself the buyer? Do you think there are people who open a PayPal's dispute against themselves?

@SadGoodbye

The problem with the platforms quoted above is that the price will certainly be very high. Don't be surprised if you pay 20% more than the original price. A good alternative to avoid this would be to use bitcointalk and the currency exchange section, but if you're new to the forum I admit it won't be easy to find someone accepting to deal with an unknown person

[jackg]

As the other have said, PayPal is risky and people using it will likely charge you a high fee (paypal is potentially reversible, bitcoin isn't).

I'd recommend doing p2p trades via bank transfers instead as they're normally less reversible. There are options to use cash deposits too into other people's bank accounts that don't need much information and are normally a lot closer to market rates but there might still be links and you'll have to find an p2p exchange that's widely used in your country too (or with a compatible bank).

[Crypt0Gore]

I don't like using Pay Pal as means of payment because sometimes the transaction will bounce back, you can't use such service in a P2P platform, you will end up becoming frustrated, guys I thought Pay Pal already support BTC? 🤔 there was a time I read this online, true or false?

[jackg]

guys I thought Pay Pal already support BTC? 🤔 there was a time I read this online, true or false?

In certain countries like the US and UK you can buy and sell bitcoin within PayPal itself but you can't withdraw it. You're buying an asset with PayPal having full custody of it (this might take some reading through their Terms and a Conditions) meaning you kinda don't get to own what you've bought in a way and your investment might be devalued if they decide to charge fees for you to hold it with them or they get hacked and can't afford to recover the holdings.

[Rikafip]

In certain countries like the US and UK you can buy and sell bitcoin within PayPal itself but you can't withdraw it. You're buying an asset with PayPal having full custody of it (this might take some reading through their Terms and a Conditions) meaning you kinda don't get to own what you've bought in a way and your investment might be devalued if they decide to charge fees for you to hold it with them or they get hacked and can't afford to recover the holdings.

As a matter of fact, that part about not being able to withdraw bitcoin from PayPal account is not true (well at least not for US users) as a couple of months ago PayPal enabled it, so now US users can withdraw it to their own external wallets.

We are thrilled to announce that starting today, PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges. This feature has been consistently ranked by users as one of the most requested enhancements since we began offering the purchase of crypto on our platform.

Available now to select U.S. users1 starting today and rolling out to all eligible U.S. customers in the coming weeks, this new functionality lets PayPal customers:

    Transfer supported coins into PayPal.
    Move crypto from PayPal to external crypto addresses including exchanges and hardware wallets.
    Send crypto to family and friends on PayPal in seconds, with no fees or network charges to send or receive.