We all know that Paypal is one of the trusted as well as popular modus operandi for online transactions these days. Paypal is everywhere now as many merchants and traders have adopted it amicably. Bitcoins are also another medium of making online transactions making a place in the market. It means that Bitcoins is an another form of digital currency which depletes the need of using physical or hard money. However, there is one question which is very closely associated with bit Paypal and Bitcoins i.e. How to buy bitcoins with Paypal?
People who have used Bitcoins and Paypal says that it is really very hard to bring home Bitcoins by using Paypal. If we take a glance at the previous track record of buying Bitcoins via Paypal people has faced many inconveniences. Even there are many merchants which do not accept Paypal. The reason behind this behavior is rehashed situations where someone pays for Bitcoins with Paypal, gets Bitcoin and then fraudulently whines to Paypal that they never received the coins. It is said that Paypal over and over again Paypal favors fraud merchants so most of Bitcoin trades will treat this system as a pool of duplicity.
However, that does not mean that you cannot buy Bitcoins with Paypal and sell them at a high price for e.g. localbitcoins, ebay etc. The answer to query of how to buy bitcoins with paypal are through two mediums Virwox and CoinMama – the downside is higher commision that you need to pay – but its by far the easiest way to buy bitcoins using Paypal or Credit cards:
To learn how to buy Bitcoins with paypal via Virwox following are the requirements:
- Visit the website Virwox.com
- Register for an account on that website.
- Then, add funds to your Virwox account via Paypal
- Buy Linden$ (SLL) with USD/EUR
- Buy bitcoins with your linden$ (SLL)
- At least send your Bitcoin to your wallet.
We have Created a tutorial to explain the process – you can click on the images to enlarge them:
Step 1: Visit the official website of Virwox and register for an account. You need to ignore the message “your avatar connection has not been validated yet”.
Step 2: Click on Deposit on the sidebar:
Step 3: Choose how you want to deposit your money – you can use Paypal or Credit cards using Skrill payment, note: you can only deposit limited amounts every 24 hours. the more successful transactions you will have on Virwox.com – the more you will be allowed to deposit every 24 hours. Be careful with the details you are entering during Paypal and credit Cards payments – Since a failed transaction will still be deducted from your daily limit (not the money of course – just the ability to deposit)
Step 4: Once you finished your deposit, you need to convert the USD or EUR to SLL – some virtual currency used in the game “Second Life” – just click the “place a sell order” or click the USD/SLL on the sidebar:
Step 5: Choose how many USD you want to sell in order to buy SLL with and click Next:
Step 6: After Clicking next you need to confirm your order:
Step 6: Now after we have converted our USD to SLL – All that is left to do is to convert the SLL to BTC, just click on the BTC/SLL button on the sidebar:
Step 7: On the next screen just enter the mount of Bitcoins you want to buy using you SLL:
Step 9: Enter the amount of Bitcoins you want to Withdraw, enter your Bitcoin wallet Address and click – “Request Withdraw”, Note: on your first time there might be a 48 hours delay until your bitcoins will be sent – to prevent frauds, but from the second time, the Withdraw will be instant and usually takes 1 -2 till it appears in your wallet, and it can be traced instantly in the Blockchain.
To sum up – This is the easiest way you can find to buy bitcoins using paypal and credit cards – the only disadvantage is the fees (Papal fees, Lower rates for BTC & SLL) but in case you want your bitcoins instantly – this is the perfect solution.