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How To Buy Bitcoins Using PayPal?

Cryptocurrencies are a result of the Bitcoin whitepaper published by Satoshi Nakamoto on October 31, 2008.

Nakamoto wanted a currency that is independent of the government or a central controlling authority. There were a lot of digital currencies that were launched before Bitcoin, but none of them ever got traction like Bitcoin. The financial crises of 2008 made it more evident that there was a need for an alternative form of currency and hence cryptocurrencies came into existence with the whitepaper of Bitcoin.

VirWox is without a doubt the most popular bitcoin buying option in the crypto community using PayPal. The use of this platform is possible due to the terms of service of PayPal that allow the use of Second Life Linder or SLL, which has caused several exchanges to add this service as a feature.

Before buying Bitcoins blindly, it is advised to set a budget, understand the history of cryptocurrency, learn about the exchanges and platforms and get a Bitcoin wallet.

Methods to Buy Bitcoin With PayPal

Follow The Steps To Buy Bitcoins

The step-by-step explanation to buy Bitcoins is as follows,

1. Visit VirWox and open an account

2. Fill in the appropriate information for the account and leave the ‘Link to Avatar’ section blank (since you aren’t likely playing SL at this time)

3. Open your email client and confirm your account by changing the password within the allotted time (24 hours)

4. Deposit money into the account under the ‘deposit’ tab –> select the amount in the form and continue with PayPal

5. Verify and exchange your balance for SLL

6. Use the ‘Exchange SLL to BTC’ to convert

7. Withdraw the Bitcoins

Unlike normal platforms, PayPal will charge a staggering 10 percent fees for buying Bitcoins using PayPal platform. Trading on cryptos is a very profitable thing if done right. Don’t do the common crypto mistake almost 90 percent of the traders do. 

How did you buy your first bitcoin? Share with us via Twitter and you can send us your Press Release to gain more visitors.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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