Buy Bitcoin with PayPal - PayPal Buy Bitcoin Guide for Germany 22

bitcoin logoPayPal once claimed that Bitcoin was the biggest scam in history! Now the payment service provider has apparently changed its mind. Buying Bitcoin with PayPal is now possible. But What should you watch out for when buying Bitcoin with PayPal? What are the pros and cons and are there alternatives?

We investigate these and other questions in connection with the Bitcoin purchase at PayPal and also deliver one Instructions for buying Bitcoin via PayPal.

67% of retail investor accounts lose money when trading CFDs from this provider.

 

Content

    Things to know before buying Bitcoin with Paypal

    PayPal logoBuy Bitcoin through Paypal is not cheap. Above all, traders who rely on P2P exchanges are asked to pay because they often charge steep fees and commissions.

    In addition to the standard PayPal fee, peer-to-peer exchanges also charge their own commission on top. Charges can be so quick once between 4% and 10% of the order value turn off.

     

    Trade Bitcoin CFDs or buy real Bitcoin Coins with PayPal?

    Traders must first sign up for real bitcoins or for bitcoin CFDs decide because one Bitcoin Wallet is only necessary when buying real coins, where the trader is the sole owner of the private keys and therefore his own bank. With Bitcoin CFDs, a wallet is not required because no securities are owned here, but only speculated on the price development.

    Crypto CFDs can be purchased via Online Broker traded and physical coins the trader buys at one Crypto exchange. CFDs and real coins both have advantages and disadvantages. Here are all at a glance:

    CFDs

    Advantages

    • Uncomplicated registration
    • High security
    • Leverage trading possible
    • Profits possible with rising and falling prices
    • No administration of wallets necessary

    Disadvantages

    • The trader does not own any real altcoins
    • Often only the 20-30 largest cryptos are available

    Real coins

    Advantages

    • Money transfers are possible worldwide with low fees
    • The trader owns real coins - alone!
    • Huge selection of coins
    • Active participation in the financial revolution possible

    Disadvantages

    • Technical knowledge required
    • Trader is responsible for keeping the coins safe
    • Currently only limited payout options
    • Trading opportunities are limited (no shorts, no leverage possible)

     

    The best provider to buy Bitcoin with PayPal

    Besides Brokers there are some Platforms, which enable Bitcoin purchase via PayPal. We recommend eToro, a regulated and highly reputable broker with many advantages even for newcomers to trading. For example, beginners can benefit from features such as social trading, where legal strategies can be copied from experienced traders.

    Your own wallet is not required with eToro and In addition to Bitcoins, traders can use 13 other coins Pay with PayPal. Apart from the withdrawal fee of 5 USD, our test winner eToro is one of the cheapest brokers ever. The eToro fees are generally very low.

    Merchants have nothing to pay when choosing PayPal as their payment method. eToro makes its money here about the spreads and the $ 5 withdrawal fee.

     

    Buy Bitcoin with PayPal via eToro - instructions in three steps

    Buying Bitcoin with PayPal is possible in three simple steps:

    Step 1: Open an account

    A Bitcoin purchase with PayPal via eToro is only possible with an account. In the first step, the trader must therefore have a Open an account. The account opening is easy and quick with a few personal details. A verification is not necessary up to a trading volume of 2 euros. The provider is regulated and therefore offers deposit protection.

    eToro registration

    Step 2: Deposit with PayPal

    eToro will send a confirmation link via email. After confirmation, the trader can open his account by clicking on «Deposit money»Top up with real money and select« Paypal »as the payment method. A click on "Send" takes the user to the PayPal page, where he has to confirm the payment. Then the trader ends up on eToro again and sees the amount credited in his account.

    eToro PayPal

    Step 3: Buy Bitcoin with Paypal

    Now the trader can buy the bitcoins by in the search field BTC or Bitcoin enters.

    In the purchase field, the merchant can specify the amount for which he wants to buy bitcoins. He can also here Take Profits and Stop Loss to adjust. However, this information is not mandatory and if you want to keep the bitcoins longer, just leave this field blank.

    However, the setting to is required «X1» in the «Lever.» Field This in order to actually buy real Bitcoins and not Bitcoin CFDs. All settings except X1 lead to a purchase of Bitcoin CFDs.

    Then the Bitcoin purchase via PayPal is complete and the Altcoins are now in the eToro account.

    Buy eToro Bitcoin

    67% of retail investor accounts lose money when trading CFDs from this provider.

     

    Is buying Bitcoin with Paypal risky?

    PayPal is a globally active and recognized financial service provider that must comply with laws and regulations to combat money laundering. The bitcoin Purchasing via PayPal is therefore very safe.

    BitcoinThese provisions include, for example Know-Your-Customer Processthat brokers and exchanges must also apply to ensure that the customer is who they claim to be. The KYC procedure is usually carried out with a passport or ID, and proof of address via electricity bill or the like is often required.

    When buying Bitcoin via PayPal, the recipient of the payment is given the email address and name of the buyer. The This means that anonymity is lostunless the trader has opened a Paypal account with a fictional name and a disposable email address and a virtual credit card.

    However, should PayPal find out that it is not a real name, the payment service provider will block the account and the credit on it will be lost forever. Paypal accepted Violation of the PayPal conditions namely not and takes the right to freeze a user account at any time.

     

    Advantages and disadvantages of buying Bitcoin with Paypal

    Like almost everything, buying Bitcoin with PayPal has advantages and disadvantages. Here are all at a glance:

    Advantages

    • Safe and reliable payment method
    • Handy for a large majority of traders
    • Regulations must be complied with for the safety of the fund
    • Payment via PayPal is done in no time
    • Payment method accepted worldwide
    • PayPal will integrate cryptos in the PayPal system in the future

    Disadvantages

    • Bitcoins are not available directly from the stock exchange
    • Paypal fee is expensive
    • Risk on P2P exchange of coming into contact with a fraudster
    • PayPal acceptance is limited

     

    Buy Bitcoin with PayPal alternatives to eToro

    Alternatively, bitcoins can also be used by bank transfer, credit card, payment with cryptos, Payoneer and other e-payment methods to be bought. Fees, security, reliability and convenience naturally vary depending on the payment method.

    Other good platforms besides eToro are Plus500, Coinbase and Libertex:

    • Plus500 is the first choice when it comes to CFDs. The CFD broker allows deposits and withdrawals via PayPal and offers a large selection of cryptos.
    • Coinbase is one of the oldest and most trustworthy Platforms. This platform offers its own wallet, but unfortunately not too many cryptos.
    • Libertex has more than 40 crypto currencies on offer and is EU regulated. The fees of this provider are in the average range.

     

    Buying guides on how to buy Bitcoin with Paypal through Libertex

    Bitcoins can also be bought at Libertex in three steps. Here is the guide:

    Step 1: Open a Libertex account

    As with eToro, the trader also has to do this with Libertex on the website Registration Form fill in, provide a few personal details and click on the verification link received by email.

    Libertex registration

    Step 2: Deposit money through PayPal

    After confirming the email address via the verification link, the account is ready to be topped up. All you have to do is click on the button «Deposit" top left. In the window that opens, the trader can now select the payment method. In addition to PayPal, it is also possible to pay by bank transfer or credit card, with Paysafe and SOFORT.

    If the merchant has selected PayPal, he can set the amount and click on "Deposit". Now the user becomes redirected to the PayPal page, where he has to log in and confirm the payment.

    Libertex PayPal

    Step 3: Buy Bitcoin with Paypal at Libertex

    Once the money has been credited to the account, the trader can now buy bitcoins by left on the page on «Bitcoin» and then click on "Open Trade".

    In the window that opens, the amount and the leverage can be determined. In addition, more options are available “for the price”, and also Win and Loss Limits as well as when the position should be closed, the user can determine.

    To complete the purchase, the dealer clicks on «Buy. " After that, the Bitcoin CFDs are transferred to the portfolio.

    Buy Libertex Bitcoin

     

    Buying instructions for buying Bitcoin with Paypal via Plus500

    Anyone who wants to bet on CFDs is with the broker Plus500 well served. The online broker based in London will Regulated by the UK Financial Regulator (FCA) and accepts PayPal payments for the purchase of Bitcoin CFDs in addition to credit cards and bank transfers.

    Step 1: Open a Plus500 account

    Registration is also here quick and easy possible. If you want to get to know Plus500 first, you can use the demo account to familiarize yourself with the functions and trade with play money.

    To trade with real money, click on the “Real Money” option and log in with your email address and password. Because Plus500 is regulated, one is Verification of the data is necessary. This can be initiated under “Funds” and “Confirm account”.

    Plus500 registration

    Step 2: Deposit money through PayPal

    After opening the account, the trader pays in credit with PayPal. This only takes a few minutes and starts with a click on "Trade." In the option «deposit»Paypal and the desired amount can then be selected (minimum deposit 100 euros). The account balance and account history can also be found under this menu item.

    Here, too, the Redirect to the PayPal page, where the purchase must be confirmed.

    Plus500 Paypal deposit

    Step 3: Buy Bitcoin with Paypal at Plus500

    Then the trader on Plus500 can click on «RetailClick », select Bitcoin from the list and click on« Buy »or« Sell ». An indication of the number of bitcoins to be bought or sold is of course also necessary.

    Trading in cryptos is also done in the same menu as when buying Bitcoin. To create the order, it is sufficient to specify the price at which the coins are to be bought or sold. When the trade is executed, the user receives a Confirmation.

    Buy Plus500 Bitcoin

    76,4% of retail CFD accounts lose money.

     

    Sell ​​Bitcoin with Paypal

    If you own real bitcoins and want to sell them via eToro, you have to get the coins first to the free eToro wallet transfer. The eToro Wallet can be downloaded from the common platforms. After the transfer, the bitcoins are in the trading account.

    To sell coins, you open the portfolio and enter the amount of bitcoins to be sold. If you would rather not sell a fixed amount of money but a number of Bitcoins, you can do so in the "Units" field on the right. Then click on «Open a trade.»

    The sales value is now displayed in the account and a payout is easy with a click on «Cash out money»Possible. This is how the sale of Bitcoins via PayPal works.

    Bitcoin Sell eToro

    Bitcoin trading with PayPal: conclusion

    Buying bitcoins with Paypal is easy, safe and convenient. Even if PayPal is not yet focused on the crypto market, it is possible to buy and sell Bitcoins via PayPal with the steps mentioned here.

    We recommend the broker eToro, which offers the Trading real coins and crypto CFDs enables. Open an account and benefit from the low fees and innovative features like social trading of this regulated and trustworthy broker.

    67% of retail investor accounts lose money when trading CFDs from this provider.

    FAQ

    How long does a PayPal payment take?

    PayPal carries out transactions instantly; As a result, there are no long processing times. In the case of withdrawals, however, it is possible for the broker to set its own processing time for checking the withdrawal request.

    Can I also buy other cryptos with PayPal?

    That depends on the offer. Some platforms also offer deposits via PayPal for other cryptos.

    Can you also deposit bitcoins on PayPal?

    Not yet. But eToro makes it possible to exchange coins bought through the broker for euros and then transfer them to PayPal.

    Does the trader need a wallet when buying Bitcoin CFDs?

    No! With crypto CFDs, the platform takes care of the security of the investment. Plus500 also offers deposit protection of up to 85 euros.

    About David Maul

    David Maul is a qualified business IT specialist with a passion for hardware