Paypal and Bitcoin Streamline the Online Purchasing Process
Paypal is one of the most reliable services and the most popular online trading these days. Paypal is everywhere now, as many traders and merchants have adopted with open arms.
Bitcoin is another method of online transactions, that carved its own place in the market. Bitcoin is a decentralized digital currency with a fixed supply, reducing the need for physical or hard money.
For one, it makes online PayPal, quick and easy transactions fiat. On the other hand, Bitcoin is both a monetary and payment system that operates independently of the fiat monetary system, making the most online shopping as an equivalent cash purchases in the real world, while PayPal is simply an intermediary between the Internet and a physical bank.
Speed, safety and convenience are Bitcoin course, of course, a growing demand for digital currency. As a result, online exchanges of Bitcoin-a popular avenue for buying and selling bitcoins- appeared in the mass.
However, it begs the question: Can I buy bitcoins using PayPal, so you do not have to directly connect my bank account to an exchange of Bitcoin? Yes, here's how:
Buy with success Bitcoins with Paypal
Many people who have used PayPal and Bitcoin say using Paypal to buy Bitcoin is a very difficult process. If we look at the previous path purchase Bitcoin via Paypal, we see that people have faced many problems with PayPal. These difficulties are due to recurring situations where a person uses PayPal to purchase Bitcoin, then initiates a chargeback, in which the person claims to have never received bitcoins, and demands a refund from the seller of Bitcoin. It is often said that Paypal encourages fraudulent traders, so most Bitcoin traders expect this system to be dangerous with a high probability of having their money stolen, and can choose not to buy bitcoins via PayPal.
You can use paypal to buy bitcoins, however, and sell them at higher prices through online marketplaces such as eBay and LocalBitcoins. There are two methods that allow you to buy Bitcoins with Paypal: VirWoX or credit cards. VirWoX charges a fee for using their services, but it is far easier to buy bitcoins via PayPal with Virox that using a credit card. Therefore, we will show how to use VirWoX buy bitcoins successfully via Paypal.
How to Buy Bitcoins With Paypal by Using Virwox
We have Created a tutorial to explain the Virwox method—here is a general overview of the steps you will have to take to use this process:
– 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.
* Note: Linden$ is the virtual currency used in the online game, “Second Life”
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 the “Deposit” button on the sidebar:
Step 3 : Choose how you want to deposit your money—you can use Paypal or Credit cards using Skrill payment. Note that you can only deposit limited amounts of money every 24 hours. Your 24 hour deposit limit will be raised as you complete successful transactions. A failed transaction will still be deducted from your daily limit, so be careful with the details enter while preparing your Paypal or credit card payments.
Step 4: Once you finish your deposit, you need to convert the USD or EUR to SLL. Just click the “place a sell order” button or click the USD/SLL button on the sidebar:
Step 5: Choose how much USD you want to convert to SLL and click “Next.”
Step 6: After Clicking “Next,” you need to confirm your order.
Step 7: After you have converted your USD to SLL, all that is left to do is to convert the SLL to BTC. To do this, Just click on the “BTC/SLL” button on the sidebar.
Step 8: On the next screen, enter the mount of bitcoins you want to buy using your SLL.
Step 9: After your transaction has been confirmed, you will be able to withdraw your bitcoins and send them to your wallet; click the “Withdraw” button on the sidebar.
Step 10: Enter the amount of bitcoins you want to Withdraw, then enter your Bitcoin address and click the “Request Withdraw” button. Note : on your first time there, may be a 48 hour delay until your bitcoins are sent to your wallet. This delay is placed to help prevent fraud. After your first transaction, though, the withdrawal will be instant, and it can be traced in the Blockchain.
In conclusion, this method is the easiest way to buy bitcoins using paypal and credit cards; the only disadvantages are the fees (Papal fees, Lower rates for BTC & SLL).
In my Next Post I will Explain how to buy BTC via Paxfull Trading.