How to Buy Bitcoins with Paypal 2023
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Generally if you want to buy Bitcoin or Ethereum, you will visit their site or a Bitcoin Exchange like Indodax (Bitcoin.co.id). But there are several obstacles that prevent you from buying on the exchange because you don't have a card that is registered with an overseas bank or you want to use Paypal, but don't know how to buy Bitcoin using a credit card or Paypal.
You don't need to worry because there are several companies that allow you to buy with Paypal. It is very clear that the prices at these companies will be more expensive because there is a risk that the seller will not be paid by the buyer.
The buyer also has risks such as the seller not sending the coin. But with these regulations in place, incidents like this would be very rare. There are 3 companies that let you buy trustworthy Bitcoin or Ethereum with Paypal:
1. VirWoX
This company was founded at the end of 2007, you can buy Bitcoin by buying Second Life Lindens (SSL) first and exchanging SSL to Bitcoin. Here are 4 steps in exchanging SSL to Bitcoin:
- Deposits to PayPal
- Buying SSL with PayPal
- Exchange SSL for Bitcoin
- Transfer Bitcoin to personal wallet
The downside to buying Bitcoin here is that you will be charged around 10% due to the number of steps that need to be done, but it will feel safer than other companies. SSL is the virtual money used in the game "Second Life".
2. CoinMama
Coinmama is a cryptocurrency exchange that can be purchased using a credit card. The exchange was founded in 2013, registered in Slovakia and owned by Israel-based New Bit Ventures Limited. The company operates in 188 countries around the world, Indonesia is one of those countries.
Coinmama is not like Indodax where you can buy and sell cryptocurrencies with fiat money. Users can only buy and not sell the cryptocurrency they buy.
Coinmama offers high purchase limits, especially when it comes to credit card transactions. Users must do KYC before buying using a credit card. Verified users can purchase up to $5,000 per day with a maximum limit of $30,000 per month. Buying here is guaranteed safe because I have tried it myself.
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