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How To Buy Bitcoins With Paypal Instantly (2020)
In this article, I will tell you how to buy bitcoins with Paypal instantly. Some of us on our journey for buying our first bitcoin, we look at the funding source from which we want to pay for it. In some cases it may be your bank account, in others it could be with a debit or credit card, but what if you have some funds sitting in Paypal and you would like to use that as a payment method directly?
hLuckily, this can be done and some methods are more legitimate than others. I am going to include the best ways (in order) to do complete this process, but keep in mind that Paypal will include additional fees to buy bitcoin that can range from 10-20% more than the actual price you agree to, as Paypal is factoring in the risk of a charge back into the purchase price. Let’s begin!
#1 BUY BITCOIN ON ETORO VIA PAYPAL
Step 1 – Open Your Account
– Visit the eToro homepage- Click the ‘Join Now’ button- Fill out the sign-up page, accepting the terms and conditions and privacy policy before clicking ‘Create Account’
Step 2 – Deposit Funds with Paypal
– Log in to your eToro account- Click on the ‘Deposit Funds’ button- Submit the amount you wish to deposit and select your currency- Select your deposit method – in this case, PayPal- You’ll then be redirected to the PayPal website- Log in to your PayPal account- Review your transaction details- Verify the details and complete the transaction by clicking ‘Pay’
Step 3 – Buy Bitcoin!
- Visit the BTC markets page on eToro
- Click the blue ‘Trade’ button in the top right-hand corner
- Alternatively, you can click ‘Buy’ next to Bitcoin if you have added it to your Watchlist
- Enter the amount of Bitcoin you wish to buy in fiat currency
- Set stop losses and ‘take profit’ parameters- Click ‘Open Trade’
#2 BUY BITCOIN ON COINBASE VIA PAYPAL
*Disclaimer: Using the e-wallet via Coinbase (web or iOS) requires you to be a U.S. investor. If you are not an American, you can still link your Paypal account to Coinbase, but you can’t physically buy Bitcoin, Litecoin, or Ethereum. In order to use PayPal for non-US customers is to swap your Bitcoin for a fiat currency and transfer this back to your Paypal account.*
- Visit the Coinbase homepage
- Click on the ‘Sign Up’ button in the top right-hand corner
- Complete the sign-up form and hit the ‘Create Account’ button
- Activate your Coinbase account by clicking on the confirmation link in your sign-up email
Step 2- Deposit Funds with Paypal
- Log in to your Coinbase account
- Click the ‘Settings’ tab on the left-hand side
- Click ‘Add a Payment Method’
- Click ‘PayPal Account’ and verify your PayPal account using the on-screen prompts
Step 3 – Buy Bitcoin!
- Log in to your Coinbase account
- On the Dashboard, click the ‘Buy/Sell’ button at the top of the page
- On the Buy/Sell window, click the Bitcoin button
- Choose your preferred payment method e.g. PayPal
- Specify the amount of Bitcoin you want in your fiat currency
- Hit ‘Buy Bitcoin Instantly’
#3 BUY BITCOIN IN PERSON VIA PAYPAL (LOCAL BITCOINS)
Step 1 – Sign Up (If you haven’t already)
Click this link for a direct way to do this! – SIGN UP
Step 2 – Filter for Paypal
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Paypal Tips:
- High feedback scores are important. The closer to 100 percent, the better.
- Look at the number of trades and trade volume. Again, the higher, the better.
- Consider the trade limits to be sure the seller can fill your order.
- Look at the payment window to see how long you have to complete the transaction.
- Read any terms the seller might have. In some cases, the seller will also require a minimum reputation score for the buyer. If this is the case, you’ll have to make some small purchases to increase your reputation if you want to use that specific seller.
Step 3 – Confirm Transaction
This is documented in case of a dispute, but as long as you follow the tips above, that is unlikely. You can also negotiate to meet in person to initiate this process, if needed.
CONCLUSION
There are still other options to buy bitcoin with Paypal online, but those other options I have not personally used or tested and therefore, I cannot speak to how legitimate the entire process is. For your reference if you want to see what some other options are, I will link them below for you to take a look. Well, there you have it. Three tried and true ways to buy bitcoin online with Paypal and usually goes pretty quickly. This is a good option if you have funds sitting in Paypal and want to convert it into the far more valuable currency of the future.
NOTE: The other sites I will list below will allow other options for credit cards and other payment methods as well.
If you found this helpful or you have any other suggestions on other sources to obtain bitcoin securely and easily, please comment below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Paxful Review (2020) | Can I Trust It To Buy Bitcoin?
In this Paxful review, I am going to go over this unique marketplace that allows your to trade gift cards, use Paypal, use Zelle pay, and so much more for buying bitcoin! Paxful is one of the most dynamic marketplaces where buyers and sellers meet to sell and buy bitcoin, however, they have a myriad of different payment methods that are accepted to make this happen that cannot be found elsewhere. Additionally, you can simply just buy bitcoin with a credit card and choose not to deal with the hassle of multiple options. But how is this different than CoinMama?
Well, CoinMama is the leader in simply buying bitcoin with a debit or credit card and offers only bitcoin and a few altcoins. This provides a lot of different methods for people that may have some gift cards or other form of monetary value, but wants to dabble their way into obtaining bitcoin without buying it directly with their bank card. Stay tuned for this article as we will dive into the most relevant questions and answering how this can be done and why you want to.
What is Paxful?
Paxful is a peer-to-peer marketplace that allows buyers and sellers to meet online and exchange multiple different payment methods for bitcoin purchases. It uniquely accepts up to 300 different payment methods to utilize in your purchase of bitcoin, including: MoneyGram, Amazon Gift Cards, iTunes Gift Cards, Paypal. Western Union, and more! It allows you to use virtually any payment method you can think of to buy bitcoin instantly!
Similar to LocalBitcoins, in the sense that it’s a peer-to-peer marketplace, it allows multiple people to exchange value without requiring idenification or other traditional KYC methods needed to transact in bitcoin and engage in a mutually agreeable exchange of value between two people with the peace of mind of using an escrow service of Paxful, using only minimal <1% Paxful Fees.
Is It A Trading Platform Or An Exchange?
It’s technically both, but it’s best to call it a peer-to-peer marketplace, similar to eBay. As mentioned above, unlike traditional exchanges, it doesn’t necessarily require any KYC (in some cases) pr any personally identifiable information to transact. Additionally, it allows you exchange other cryptocurrencies, gift cards, bank transfers, or even cash to obtain bitcoin, in most cases instantly.
A trading platform is typically described as a direct exchange for fiat or other cryptocurrencies where the exchange serves as the middle man taking a cut for each total transaction. Paxful only takes less than a 1% fee for the total transaction (which is much less than other exchanges, like Kucoin or Coinbase). Additionally, there are no custodial services used here, so you always possess your private keys, leading up to executing the transaction, where it goes into an escrow account for protection until the transaction is verified by Paxful.
Supported Currencies (Fiat And Crypto)
Paxful deals with the buying and selling of Bitcoin only.
Since the money is sent directly to the sellers, the site itself doesn’t hold fiat currencies for users. Sellers on Paxful accept over 300 payment methods, with the most the most popular ones being credit cards, PayPal, Amazon gift cards, wire transfers and Western Union. Keep in mind that different payment methods will result in different exchange rates.
For example, non refundable payment methods (bank transfers, cash) will usually have lower exchange rates while payment methods that allow for chargebacks (i.e. credit cards, PayPal) will cost more.
For a list of the full 300 different payment methods that are accepted on the site, click HERE.
Paxful Fees
What makes this different than other exchanges or platforms is that Paxful does not charge a direct fee to use the platform. Sellers can charge a premium (if they choose) over fair market value to factor is risk or other potential fees that they might incur, however, it ultimately depends on the payment method the buyer chooses to use and what the buyer and seller agree upon.
Sellers ultimately pay Paxful a 1% fee when a transaction is confirmed, but this is not passed on to the buyer.
This does not include the bitcoin network fees that are standard with with ant bitcoin transaction on the blockchain and that is paid to the miners directly.
Paxful Review – Conclusion
Overall, Paxful is a unique and resourceful way to get bitcoin with non-traditional methods. As being essentially the eBay of bitcoin purchasing, this is one of the most effective ways to get your bitcoin with other monetary sources that are not accepted by traditional exchanges. For instance, if you have an amazon gift card and you want to use that trade it for bitcoin, you simply just need to match with a verified seller who is wiling to make that trade.
As with any service, there is always a potential for fraudulent players, so you’ll want to be careful with the sellers you match with and ensure they have a good seller rating. My experience with selling an Amazon Gift Card, was pretty seamless, and I didn’t end up having to use any arbitration or moderators in the process. I have heard of some users that did not have such a good experience, but again, that mainly falls within the due diligence of who you match up with and trusting that Paxful will do the right thing is they need to get involved.
Bottom Line: I would use this service again and I would recommend it to my friends and family since my experience was pleasant and with offering over 300 different payment methods you can use, it opens up a lot of doors to people that otherwise would not be able to obtain bitcoin via their bank or credit card.
What do you think? Is there a better way for people to obtain bitcoin with non-traditional payment methods? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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Ledger Wallet Ripple: How To Store Ripple (XRP) On The Ledger Nano S (2020)
In this article, I am going to explain how to store Ripple (XRP) on the Ledger Nano S in the Ledger Wallet Ripple. Most people I speak with talk about whether or not XRP is safe to leave on exchanges for storage. The simple answer is no. Under no circumstances is it safe or even a slightly good idea to leave ANY coins your have on an exchange. “Not your keys, not your crypto” is a statement you’ll hear repeated throughout the crypto ecosystem. If you are unsure about the safest ways to store and secure your cryptocurrency private keys, then grab my free e-book that gives you some in depth resources on how to manage your crypto safely. I also wrote a comparison review of the major differences of hot vs cold wallets, in case you are unsure.
Now, as Ripple is a top 3 market cap coin, it is imperative to know how to properly store it on a hardware wallet, and the one wallet that can easily store this right now is the Ledger Nano S. You can also store it on the newly released successor to this wallet known as the Ledger Nano X, if you want a larger storage capacity and a wallet that is wirelessly capable. Let’s get to it below!
WHAT IS RIPPLE (XRP)?
Ripple is both a platform and a currency. Let me explain. Ripple itself is platform and open source protocol which is designed for quick and cheap transactions. This was “invested” as a resource for efficient, cross-border payments that is intended to be used by big banks. The Ripple platform is very very cheap and efficient and unlike bitcoin, it is designed as a payment machine and nothing more.
XRP (the token that is represented on the ripple platform) is designed to transfer value across the Ripple platform. The intention behind this is to be able to transfer value from either cryptocurrency or fiat from peer to peer in the fastest way possible. That is it’s only function.
The other noteworthy aspect of this is, there is a predetermined amount and it is not mined or staked, like it is on POW and POS networks. In fact, there is no blockchain for this token at all. This has been the source of a lot of criticism in the ecosystem that this is not really a “crypto” currency, but rather, just a digital version of fiat.
HOW DO I BUY RIPPLE (XRP)?
You can buy ripple directly at many OTC exchanges, or other trading exchanges like Coinbase or Binance. When using Coinbase, you can link up your bank account and/or major debit card to process the transaction and if you’re not verified, it can take up to 7-10 business days to process.
If you plan on buying XRP with a credit card directly, you can use either Paxful or Changelly and use this as an OTC exchange to buy it directly (although paying with credit card will incur some extra fees). You can also go through a 2-step process and buy bitcoin with a credit card on Coinmama, and then use one of the above exchanges to swap it.
LEDGER WALLET RIPPLE: HOW DO I MOVE RIPPLE TO THE LEDGER NANO S?
- Open up Ledger Live, and make sure it’s software version is up to date.
- Head over to the Manager section on the left side bar, and search on “XRP”, then click on Install.To create an XRP wallet on your Ledger device, we first need to create an “account” for you to be able to have access to your wallet’s XRP address.
- Click on the rounded + symbol on the left portion of the Ledger Live app to add an account.
- Type in “xrp” on the search bar to easily find XRP on the list, then click on “Continue“.
- Open the XRP app on your Ledger device, then click on “Continue“.
- Wait for Ledger Live to synchronize.
- Choose a name for your wallet. For this example, we’re just going to name our wallet “My XRP Wallet“.
- Tick the blue checkbox , then click on “Add account“.
- Account successfully added!Click on “Add more” if you want to create more XRP wallets, or if you want to head over to moving your funds to your XRP wallet, just click on the small x on the top right corner of this popup.
- Your XRP wallet is now ready. Simply click on the XRP wallet you made on the “Accounts” section on the left, then click on the blue “Receive” button.
- Click on “Continue“.
- Click on “Verify“.
- For security purposes, check if the same wallet address is being shown on the Ledger Live app, and the address shown on your physical Ledger device.If everything’s fine, you can now copy the wallet address shown on Ledger Live, and you can now use that address to move your funds from other XRP wallets, or from the exchange you’re using.
- Click on the rounded + symbol on the left portion of the Ledger Live app to add an account.
WHAT ABOUT THE NEW LEDGER NANO X?
The Ledger Nano X has the same process as above for adding it to your hardware wallet using Ledger Live, the only difference is it is primarily done via the mobile app. You can still plug this device in and manage this the same way as the Ledger Nano S, however, it is able to connect to the app and manage this wirelessly, which is the major advantage.
CONCLUSION
Bottom line, if you’re in the market to acquire this coin, you will absolutely need to store it on a Ledger device. Keeping all your private keys (of any coin) on a trusted hardware wallet is imperative. Period. I will say that with the Ledger Nano S specifically, is the cheapest and is the best entry level hardware wallet if you want to store ripple at only $59. The one caveat is that you can only store 3 or 4 different coins on the app at once, that’s it. If you plan to grow your portfolio, you may want to spring for the extra money and go for the Ledger Nano X, which can hold up to 100 coins or “apps” at once. I will leave the full review of the Ledger Nano S here.
What do you think? Is there a better offline wallet to store your XRP? Let me know in the comments below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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