No! If you decide to use third-party services to use PayPal for buying bitcoins, be sure to review the list of bitcoin exchanges – most platforms won’t accept payments via PayPal. This is because PayPal bans its merchants from accepting funds for digital goods, including cryptocurrencies.
No crypto exchange wants to risk having their business shut down by PayPal, so you will rarely find a platform that allows its customers to make PayPal payments for digital currencies like bitcoins.
Even if a platform does accept such transactions, it is strongly advised to proceed with caution and review their history and policies before making any purchase. Additionally, it is recommended that you use an escrow service when trading with third parties, such as btc trading.
This policy aims to stop fraud and make sure that customers will always be able to recover the money they sent for virtual goods if something goes wrong. However, PayPal has no way to ensure that people who say they bought/sold digital content did so. Therefore it decided to ban these types of transactions altogether.
Should you use PayPal to buy bitcoins?
For now, at least, it’s not advisable to use PayPal when purchasing bitcoin because of its ubiquitous chargeback policy. The thing that makes Bitcoin so remarkable is that the money can’t be reversed or charged back once a transaction has been confirmed on the network.
Can you buy bitcoin with PayPal?
Unfortunately, PayPal has not yet approved the use of its system for processing bitcoin transactions. Therefore, you will not find any reliable and trusted exchanges currently accepting PayPal payments for bitcoins.
However, some third-party companies buy and sell bitcoins using an alternative payment method like PayPal or prepaid cards, e.g. Ukash or Paysafecard.
These companies usually sell low-value items and transfers: they convert the payments to bitcoin to profit on exchange rate margins. You can get such companies here. It is to remind you that these types of businesses are not regulated and thus carry additional risks compared to regular online exchanges.
Generally speaking, you can buy bitcoins from any exchange that accepts PayPal as a payment method. However, if you decide to use one of the alternative methods listed above, please first research your chosen company thoroughly and make sure they are legit before sending them any money.
Can you sell bitcoin for PayPal?
Yes, but this is a risky option as most exchanges do not allow such transactions due to fraudulent/illegal activities that could cause them problems. Therefore, you should always first seek legal advice about your country’s legislation about these types of operations before proceeding with any trade. Coinbase allows users to sell BTC to PayPal.
To protect yourself, you should open a new account with an exchange like Coinbase and convert all your bitcoins to fiat currencies (USD, EUR) before selling them on the exchange for PayPal or other payment methods.
Is it safe to use PayPal to buy/sell Bitcoins?
This week, the big PayPal announcement has been that it’s teaming up with payment processing companies like Braintree and Stripe to allow its merchants to accept Bitcoin payments. However, while cryptocurrency enthusiasts have celebrated the news, there are still a lot of unanswered questions about how PayPal itself will interact with digital currency.
The first thing to point out is that Paypal’s bitcoin integration has nothing to do with PayPal itself or eBay. Braintree is the payment platform acquired by Paypal in 2013; it currently processes transactions for such popular apps as Uber, Airbnb and TaskRabbit. Stripe, meanwhile, is an online payment processing system used by companies.
These are two completely different services using PayPal’s money to make paying using digital currencies easier for their customers. It’s also worth noting that while both Braintree and Stripe support Bitcoin payments, they only do so in the form of “Bitcoin testnet,” which means that actual bitcoins can’t be used for any transactions.
Conclusion
As you can see, it’s hazardous to buy/sell bitcoins with PayPal because most exchanges don’t allow such transactions due to possible fraudulent activities. Therefore, it is recommended to use an escrow service if purchasing bitcoins via PayPal.