Hello Community,
As of today, you can fund your PayPal account with Bitcoins.
This service has been long-needed in Bitcoin World and now anyone holding Bitcoins can immediately get them converted to USD and placed in their PayPal account.
Step 1) Sell your coins at Gox, BitStamp, BTC-E, or Crypto, and withdraw a USD coupon.
Step 2) Visit BitInstant.com, select Coupon as the "Pay from" and PayPal as the "Pay to"
Step 3) Fill out the account info, complete the process, and voila!
Orders are processed by our partner Virtual World Services GmbH and the Paypal funds will arrive from them. There is a 6% total fee for the service, which includes the PayPal fee.
Note: Our system will automatically flag a first-time withdrawal for a quick manual review. We check to see if the PayPal address is blacklisted, fraud, or mistyped. Usually, this can range from a few minutes to 12 hours (possibly longer on weekends). On subsequent withdrawals to PayPal, no manual review is needed and funds will appear within a few minutes.
For most transfers, the fee is 6% including Paypal fees. We've partnered up with Virtual World Services GmbH in order to make this possible, since they have a virtual currency approved account with Paypal. The Paypal and middleman fees we are required to pay per transfer are over 4.5%, for this reason we charge 6%. We except
Fast and easy Bitcoin payments to PayPal! Give it a try!
-The BitInstant Team
