How to buy Bitcoin with PayPal | 🥇 The most complete guide in Brazil
Bitcoin cryptocurrency is nothing more than a type of virtual currency with free exchange on the internet. People can invest, buy, sell and profit a lot from live trading. There are several platforms available on the internet for those who want to enter the market, just register on a website, deposit funds and start making the trade. Buying Bitcoin with Paypal seems to be one of the ways that people are most interested in buying Bitcoin in Brazil.
The vast majority of companies are based in a foreign country and the type of currency most used to Buy Bitcoin is the dollar. This creates some difficulty for the Brazilian when trying to buy things abroad. Not to mention that many Brazilians do not have a credit card.
Taking this into account and seeing the growth of investors in Brazil, many cryptocurrency sites have started to partner with PayPal.
O PayPal was created in the United States but quickly gained the world, becoming quite popular for online shopping, especially here in Brazil. Using a fully virtual system, facilitating purchases and money transfers.
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What are the differences between Bitcoin and PayPal?
But if the two are virtual money platforms, what's the difference? We will detail here for you to understand better.
As we mentioned above, Bitcoin is more used in buying and selling negotiations in the online market, generates profits for the investing user and can also be used with physical currency when redeemed from your virtual wallet.
Even with the popularization of Bitcoin, the currency is still limited in acceptance outside the investment market. And some countries, including Brazil, do not yet have such clear legislation regarding the use of cryptocurrency or the tax amounts to be charged.
PayPal came as an alternative for people who wanted to make online purchases in general, receive international payments and transfers between countries at a cheaper and faster rate than Brazilian banks.
The user opens the account, makes his deposit, generates his virtual card and can now start receiving payments, making his transfers and making purchases, including buy Bitcoin.
Should I buy Bitcoin with PayPal?
- Buying Bitcoin with PayPal can be done simply and quickly
- Once you buy Bitcoin with PayPal, you can buy anonymously with your Bitcoin
- PayPal transactions are secure
- Bitcoin is immune to fiat currency inflation
- Bitcoin can be used to buy other cryptos systems
- Not all exchanges accept payments via PayPal
- Bitcoin price fluctuates frequently
- Bitcoin's value in relation to fiat currency is not guaranteed
How to buy Bitcoin with PayPal?
Most cryptocurrency buying and selling platforms allow their users to use credit and debit cards as well as bank transfers. But there are also a number of other companies that accept that traders buy bitcoin and with Paypal.
To make the first Bitcoin purchase with Paypal, the user needs to have a Paypal account. You also need to be registered on a digital currency trading platform with your Paypal account.
There are a large number of sites that allow users to purchase Bitcoins using the digital wallet, so you will also need a cryptocurrency wallet that supports the currency you want to purchase.
That done, look for the platform you like best, but even with the wide variety of platforms for buying cryptocurrency not all accept the deposit made through PayPal.
We will list here the three main platforms where you can make your purchase and negotiations using the virtual card and the PayPal balance:
Differences between methods for Buying Bitcoin
There are several ways to buy Bitcoin. The most common are buying from exchanges, brokers, P2P, or buying CFDs (Contracts for Difference).
1 eToro
With a few years in the market, eToro remains one of the most used for Bitcoin trading.
The platform allows the user to buy and sell automatically, taking into account the movements of other “traders”. The minimum amount to start investing is $ 200 and the maximum is $ 500.000.
The software has up to 100 traders available simultaneously and live. Users can also view millions of trades, statistics and risky actions from other traders.
eToro accepts deposits with PayPal, fast and uncomplicated, the user can buy cryptocurrencies using the balance they have. Let's take the step by step how to do it.
1. Create your account on eToro website. Name, email and password.
2. After registration, an email is sent to the user to confirm the data. Click on the link and have your documents ready, as you will need to take a photo for verification. A proof of residence as well.
3. You will now have access to your virtual wallet. You can now also put credits in your account online. The user chooses the type of currency for deposit, the minimum amount of U $ 500 dollars, the payment method, in the case of PayPal and click on "follow".
4. Once the initial deposit is made, the new trader can now see the trades live. Choose which cryptocurrency you want to invest in and click "trade" in the upper right corner of the screen.
5. On the screen you will have the options to buy or sell, click “buy” and “open position”.
6. Once this is done, put PayPal as the payment method and the momentary to be made available for purchase. And confirm your details and purchase.
Ready! In a few minutes the user will receive confirmation in his PayPal account and in his eToro virtual wallet.
2. Paxful
Paxful is another cryptocurrency buying and selling platform available on the market allowing its users to trade Bitcoin using around 300 payment methods, including PayPal.
According to the company's website, Paxful has more than 800.00 (eight hundred thousand) active users. Purchases made since the beginning of the company's operations are already over 950.000 (nine hundred and fifty thousand).
Paxful has a simple, automated and secure purchase process. The user is able to select the preferred payment method, enter the desired amount of currency he wants to buy and that's it.
The platform was created with a focus on new or inexperienced investors in the cryptocurrency market, helping to trade Bitcoins with agility and security. With one of the simplest interfaces on the market, it is very good for new traders.
Follow the step by step:
1. Create your account on Paxful website. Just click "register" in the upper right corner of the screen.
2. Enter your name, email and password
3. An email will be sent to confirm the data. Click on the link and fill out the request. Name, address, telephone, photo of the document and proof of residence are required. That done, just click on "follow".
4. After this procedure, you will have access to the buy and sell market and, real time. Choose the best cryptocurrency for you click on “buy”
5. In “Payment type” put PayPal and the amount you want to negotiate.
6. Click on “accept the terms and buy Bitcoin”
Congratulations, you have already purchased your Bitcoins using PayPal, quick and easy. You can reinvest or withdraw your profits.
3.LocalBitcoins
LocalBitcoins is one of the oldest platforms in existence, born in Finland, it has been on the market since 2010. It has in its bitcoins portfolio more than 16.000 cities and 248 countries around the world, that counts a lot.
With LocalBitcoins the user negotiates directly with buyers and sellers, he decides to negotiate only when he is satisfied with the form of the negotiation.
After a trade starts, the trader can use several payment methods, including PayPal.
LocalBitcoins, in addition to being agile, has a strong focus on the Brazilian market, let's see the step by step purchase with PayPal:
1. Register through the LocalBitcoin website, click on “register in the upper right corner or in the middle of the screen.
2. Enter your data such as name, email and create your password.
3. An email will be sent with the link to verify and the request for confirmation of identity. Fill in everything and don't forget to put the phone. An SMS will be sent to confirm the identity.
4. With that done, time to follow the negotiations live. Choose which Bitcoin you want to invest and click "Buy"
5. In the payment method, choose PayPal as your choice, enter the amount you are willing to negotiate and confirm. So you are also already accepting the terms and conditions.
In a few moments the user will receive the purchase confirmation by email or SMS. You can also check the result of your purchase in the virtual wallet.
How to buy Bitcoin with PayPal balance?
A lot of people still have doubts about how to use the PayPal balance, but it is really very simple, fast and efficient. In the step-by-step that we showed above, having examples of trading platform, when choosing the payment option, just choose to pay with PayPal.
Are there any fees associated with purchasing with PayPal?
Another question that exists is in relation to fees, which vary greatly from platform to platform. It is also important to see the fees that Brazil has on online purchases, this can be seen in the PayPal contract with the user.
The fees depend a lot on the website you decide to use, so research is essential, it never hurts to search, see and simulate the gains with your investment.
1. Fees with eToro
Trading on the eToro platform is completely free and there is no charge for commissions or fees in all trades. Your earnings come only from the spreads (the difference between the buy and sell prices of the cryptocurrency that the user is trading).
2. Paxful fees
As Paxful is a platform on which the user who wants to sell puts his own price. Paxful does not charge any fees to those who are purchasing the cryptocurrency. Who is selling is the one who pays a fee, depending on the payment method used (between 0,5% and 5%).
3. Fees with LocalBitcoin
It can be over 10% and is paid by whoever bought it. LocalBitcoins does not charge any other fees to the buyer. The company charges 1% may who offered the cryptocurrency.
In any case, it is worth remembering that Brazil's tax rules are different in relation to other countries, so it is always good to check the purchase and redemption limits if you profit.
The values in relation to the purchase tax changes according to the amount purchased and also if the user decides to transfer from his PayPal account.
Is it worth buying Bitcoin with PayPal?
With more and more online services, PayPal has undoubtedly become a more affordable option. Mainly for international payments and receipts as well.
As most Bitcoin platforms are abroad, PayPal is used for those who do not have or do not want to use their cards. Mainly because among its main benefits, is the fact that the operations are concluded quickly, without having to wait for bank confirmations or processes.
PayPal also retains certain information about transactions, especially for P2P (person to person) transactions. In other words, your level of privacy guarantee is much better than other forms of payment, which for many users can be an advantage.
FAQ
Bitcoin can replace Paypal
Although in theory, Bitcoin could replace PayPal as a transfer of value, its value fluctuates too much to be used as a substitute for fiat currency at the moment. Bitcoin and PayPal are fundamentally different platforms, serving different needs and offering different functions. As a result, they are not in direct competition, and it is unlikely that Bitcoin will completely replace PayPal.
Is Bitcoin better than Paypal?
In many ways, yes. Although it is difficult to compare, by some standards, it can be said that Bitcoin is better than PayPal. Bitcoin's transaction time is generally shorter than PayPal's, its rates may be lower and Bitcoin offers anonymous fees. In addition, Bitcoin is more secure, since Bitcoin Wallets private keys are impossible to guess, unlike a PayPal password.
Can I buy with Paypal at Coinbase?
This option was historically available, but is temporarily suspended at this time. According to Coinbase, support for this service will resume later this year. You can withdraw, but not deposit.