Send from paypal to btc

You need to search for a PayPal seller, and exchange payment details using encrypted messages. The PayPal transfer also needs to be made manually outside the platform. It's up to the seller. PayPal traders on LocalCryptos set their own verification policies, including what kinds of details they need from you. In order to protect themselves from fraud, people who sell Bitcoin for PayPal may ask for your identity, or choose to only exchange small amounts with you until you verify yourself.

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LocalCryptos is a peer-to-peer crypto marketplace. People post ads on LocalCryptos to buy and sell crypto with all sorts of payment methods—including PayPal. When two people agree on a trade, the buyer pays the PayPal half directly to the seller's account—that's why LocalCryptos is so fast. An escrow account holds the crypto side of the trade. This provides a guarantee of funds to the buyer, and an abort path for the seller in case they don't receive a PayPal transfer.

The buyer of crypto should never initiate a PayPal transfer before the Bitcoin is in escrow. Similarly, the seller shouldn't release the escrow until they see the money in their PayPal account. If payment never arrives, either party can raise a payment dispute. This allows an arbitrator to decrypt messages, verify evidence, and get the crypto to its rightful owner. LocalCryptos is the first and largest P2P platform to offer a non-custodial escrow system.

The technical details of the escrow depends on the crypto chosen. All blockchains are unique. Whenever we add a new crypto, our engineering team develops a new escrow script to fit the protocol. A non-custodial escrow system makes it impossible for LocalCryptos to steal from escrow accounts. By the same token, the platform's non-custodial nature makes it immune from common hacks and thefts. If you are selling Bitcoin for PayPal, you need to look out for chargeback fraud.

That's when a buyer attempts to reverse a transaction after the escrow is released. To mitigate the risk of fraud, some PayPal sellers choose to only exchange freely with people they've met previously, and apply additional terms or restrictions to new buyers.

Escrow fees are 0. All crypto transactions also involve a network fee which goes to miners—not us. These include the use of intermediaries in various forms. The very dynamic nature of cryptocurrency markets may also develop other solutions. Part of the problem that PayPal faces is operating across international boundaries, which requires conforming to different rules and regulations.

PayPal has expertly navigated that minefield.

Exchange Bitcoin to PayPal

Cryptocurrency exchanges are developing that same ability, but are not there yet. This means that all exchanges do not operate in all countries. This is the case with eToro, a popular financial trading site that has offers trades in various cryptocurrencies. The site offers the option to fund a trading account by transfer from PayPal but does not operate in the US. Fortunately for non-US citizens, the site does support trade in Bitcoin funded by Paypal.

It also offers easy, step-by-step instructions, as shown below. The eToro site will then direct you to PayPal to log in and complete the transaction.

PayPal Help Center Article

Please note that this step does not complete the transaction to purchase Bitcoin or any other cryptocurrency. That requires an additional step, which may offer some insight into why PayPal supports this transfer. A transfer to eToro is a transfer to another banking institution and not a purchase of Bitcoin. If eToro is an example of a global trading platform, LocalBitcoins is at the other end of the spectrum. It is an intermediary that lists individuals willing to sell and buy Bitcoin to other individuals located nearby. The form of payment varies, but PayPal may be acceptable to some individuals.

Many sellers list a local bank as a place to deposit funds, and the time required to transfer funds with PayPal may be a limiting factor. This issue is resolved with online trading platforms such as Paxful. This is another intermediary what matches buyers and sellers of Bitcoin. Many individuals list PayPal as a method of payment. However, reviews of this site include complaints of stolen Bitcoin and poor or nonexistent customer service. These might reflect the growing pains of the cryptocurrency industry, or they may be the reason PayPal does not explicitly support trading in Bitcoin.

It is important to remember that direct transfers from PayPal are not the only means of transacting business with funds stored on the PayPal platform. PayPal also offers a credit card and a debit card that provide a convenient intermediate step in transferring funds through the existing credit card network.

Utilizing this method of paying with PayPal is straightforward, although it is not a direct means of paying for Bitcoin with PayPal. It involves creating either a debit or credit account through PayPal, and then using that account at an exchange to purchase Bitcoin. To the extent that this credit or debit card would be used for other purchases, this may be a reasonable approach.

The card is ordered through the PayPal website and is sent through the mail.

After it is activated on the site, funds currently in PayPal can be transferred to the card account. It can then be used at any website that supports the use of MasterCard debit cards to purchase Bitcoin or other cryptocurrencies. IO is one exchange that allows links to MasterCard debit cards and other credit cards. These can be used to both buy and sell Bitcoin and other cryptocurrencies. The website has at times reported that the link to the PayPal cards is inoperative, and the exchange is not currently accepting new accounts.

However, these can be considered temporary problems that should be resolved shortly. For the one time purchaser of Bitcoin, creating a PayPal MasterCard debit card exclusively for this purpose may seem complicated and too burdensome. For this individual, there are other methods that use an intermediary relationship to arrive at the same destination.

eToro Trading Platform

One of the more imaginative of these routes is through the Virwox site. It is a platform for trading imaginary currencies used in online gaming. This game is one of the most popular online fantasy games on the Internet. Create an account on the Virwox exchange, ignoring the information on the avatar you will use in the Second Life game. Fund this account with money transferred from your PayPal account. Once this transaction is confirmed, return to the same section on the left side of the screen and exchange SLL for Bitcoin.

Buy Bitcoin With PayPal

You will need a Bitcoin wallet to hold the newly purchased Bitcoin. Because the Second Life game can make money for players, the site also accommodates transfers back to other currencies. The best way to find a good exchange rate is to compare multiple bitcoin platforms against the mid-market rate. To calculate the exchange rate it offers to customers, PayPal takes the wholesale rate it gets from its bank and adds a 2. PayPal updates this rate twice a day. Winner: Tie Transferring through PayPal or bitcoin takes about the same time.

You can fund your transfer through your bank account which is a little slower or through instant methods like credit card payment. Short for Single Euro Payments Area, SEPA is an initiative of the European banking industry that makes e-payments across credit or debit cards, bank transfers and direct deposits as easy as domestic payments within one country.

You enter your bank account information, so linking is immediate. Adding a credit card is instant. Total cost — credit card This is what you lost from the transfer if you used a credit card:. It takes three business days to add your bank account. Buying bitcoins is instant.