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How to Buy Bitcoin with PayPal5-min read

Shivali Krishali

Shivali Krishali |  Updated on 09/1/2023

With the onset of Neobanks and Fintech, Bitcoin trading has become extremely convenient nowadays. Taking into perspective the entire crypto ecosystem, Bitcoin is the oldest and most established currency which has, in turn, made it one of the most accessible assets. You can practically take out your smartphone and start trading anywhere and anytime. This article will cover the ins and outs of buying Bitcoin with PayPal.

PayPal is one of the most globally recognised online payment platforms and now allows its users to sell, buy, and even store cryptocurrencies. One can start their journey with even a meagre sum of $1 in investments.

Now you can buy Bitcoin on PayPal in India as well. Bitcoin can be bought through the website and from a smartphone as well. With these portals, PayPal has increased trading accessibility for a broader demographic of new investors.

Where to Buy Bitcoin in India?

The following brokers have been unanimously praised as the most reliable for crypto trading by both new and seasoned investors alike:

CEX.IO Review

CEX.IO Review

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Pros

  • list bullet Very low fees, highest spot trading commissions capped at 0.25%
  • list bullet Very easy-to-use and user-friendly dashboard, one of the best UX scores on the market
  • list bullet Over 200 crypto markets to choose from, all accessible from their comprehensive mobile app too

Cons

  • list bullet Different fees for different payment methds
  • list bullet Some features are exclusive to US customers
Libertex Review

Libertex Review

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Pros

  • list bullet 0% fees on stock trades, minimum deposit of only $10 or equivalent
  • list bullet Over 322 tradable assets available
  • list bullet Unmatched user-friendly interface, easy for beginners to catch on

Cons

  • list bullet Unavailable in some countries, including the United States
  • list bullet Only features two types of accounts (Demo and Standard)
Binance Review

Binance Review

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Pros

  • list bullet Advanced charting with a variety of choices for overlays and indicators.
  • list bullet Has the option to use Binance Lite which is very useful for beginners.
  • list bullet Low fees and one of the most reputable crypto brokers.

Cons

  • list bullet Digital wallet is third-party software.
  • list bullet UI can be most suited for professionals and may be complex at first glance.
  • list bullet Strict account verification.
Paxful Review

Paxful Review

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Pros

  • list bullet Paxful offers biometric authentication and verification.
  • list bullet Has more than 300 plus payment modes with fixed trading fees.
  • list bullet Quick and speedy support system.

Cons

  • list bullet This digital currency exchange ID's not regulated. Might be liable to seller scams.
  • list bullet Higher trading fees as compared to other exchanges.
  • list bullet Only has 3 cryptocurrency options.

Featured Exchange: CEX.IO

CEX.IO is a London-based Bitcoin exchange that allows users to buy and sell Bitcoin with a Paypal It has been in operation since 2013 and is one of the most popular Bitcoin exchanges in the world. In terms of fees, the creator spends a maximum of 0.25%, which is significantly lower than the taker. On the security side, CEX.IO offers several measures to protect user data and accounts. All communication between users and CEX.IO is encrypted using secure sockets layer (SSL) protocol, and the platform is equipped with a two-factor authentication (2FA) system, which requires a one-time code sent to the user’s mobile phone to access their account. The customer support is excellent and responds promptly to queries.

 

CEX.IO

 

Why Choosing a Good Exchange is Important

India is a price-sensitive market. For a new trader or investor it is extremely important to start trading at a platform that has a minimum of 0 costs, be it in terms of commission or the minimum amount to be invested on the platform.

To this end, the minimum account amount for all the platforms is either $0 or $1 which makes it quite easy for traders to take the risk. The commission charge is $0 and in some cases, it goes up to $3, which is quite economical. This being said, due to the volatile nature of cryptocurrencies, new traders are often skeptical about whether or not to take the first step. This sentiment is very understandable given that, as a very nascent market, it contains a concerning amount of scammers and bad actors seeking to take advantage of novices and disappearing with their hard-earned money. Today’s more reputable crypto brokerages have taken the lead in verifying and eliminating these bad actors and ensuring that they offer only genuine assets to their clients.

Elaborating on the leading brokers, Binance has almost 600+ cryptocurrencies listed on their platform, Libertex features some of the lowest fees on the market, whilst Paxful allows its users to buy cryptocurrencies in more than 350 ways.

Out of all of the exchanges, Binance is the most respected platform offering a massive diversity of purchasable assets while Libertex remains the safest choice for those new to Bitcoin trading, given that it features some of the lowest fees on the market, starting at 0% on most trades.

bitcoin with paypal

How to Buy Bitcoin with PayPal in India?

You can buy bitcoin with PayPal in just a few clicks. No lengthy procedures, no waiting, all you have to do is follow some basic steps. To start, you will be required to download the app. Moving forward, you are required to select a broker (Binance, Libertex, Paxful etc). Next, create your account on the broker’s portal. To start trading or investing you need to have a certain amount of money in your account. Here you have to transfer the money using your card to your trading account to smoothly carry out the transactions on the platform. Now in the search bar, search for “Bitcoin”. Now you have the option to purchase your chosen cryptocurrency. Now that you have the funds, you can proceed with getting your Bitcoin. So, in simplicity, the steps are as follow;

  1. Downloading the app
  2. Choosing a broker, creating an account,
  3. Depositing funds with the card,
  4. Searching for Bitcoin
  5. Trading

KYC and Verification

KYC is a standard practice in every business to identify whether the user is a genuine individual or not. The broker must ensure that every user on their platform is a verified user. It is proof that the exchange is a responsible entity only allowing verified users to their platform.

Buy Bitcoin with PayPal Directly

Following are the steps with which you can buy Bitcoin with PayPal directly:

  1. Sign In or log in and choose Bitcoin as your desired cryptocurrency.
  2. Select buy and the amount of Bitcoin you want to purchase.
  3. Select the payment method. Link to your bank account with your PayPal account.
  4. Click on the buy button.

Buy Bitcoin Using PayPal on Binance

Following are the steps with which you can buy Bitcoin with PayPal using Binance:

  1. Create an account at the Binance website or app.
  2. Choose the payment mode with which you want to buy Bitcoin. Here you will be having multiple options. Select the P2P option. Here select PayPal.
  3. Now create your account
  4. Now you can either store or trade your Bitcoin.

Buy Bitcoin with a PayPal Account on Libertex

Following are the steps with which you can buy Bitcoin with PayPal using Libertex:

  1. Create your account and select the crypto.
  2. Select Paypal as the payment method.
  3. Now select or add a debit card or bank account linked to your PayPal account.
  4. Now you are good to go.

Buy Bitcoin with a PayPal Account on Paxful

These are the steps that you need to take if you wish to buy Bitcoin with PayPal on Paxful:

  1. Create your account
  2. Then complete your profile and upload your id.
  3. Then, choose the type of currency you want to purchase.
  4. Put in the number of bitcoins you would like to purchase. Select PayPal as the payment option.
  5. Now you are good to go.

Benefits and Drawbacks of Using PayPal for Buying Bitcoin

Pros

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    Speedy Deposits: The deposits are processed instantly and the user does not have to wait like in the case of a bank.

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    Fast Withdrawals: When you withdraw money using Paypal your money is withdrawn instantly.

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    Secured: PayPal offers Purchase Protection for Buyers, which covers you if something goes wrong with your deposit.

Cons

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    Fees: There is a fee or charge associated with every transaction that is being done through Paypal.

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    Restrictions and limitations: Users are restricted to a limited number of crypto that they can buy using this method. Also, Paypal is not available on many trading platforms.

Choosing the Right Bitcoin Exchange for You

Here are some of the key points that an investor must keep in mind while choosing an exchange:

The exchanges mentioned are tried and tested beforehand. All the recommendations and information provided are genuine. All the recommendations have been accurately checked individually, we have created an account in each one of the platforms, explored all the features, and most importantly whether or not the exchange is safe to open an account. We have thoroughly gotten feedback from the community and where the exchange stands in the market. Before putting your money in, investors must check all the reviews before investing in any of the exchanges.

This is a link to our list of the best cryptocurrency trading platforms for users who wish to learn more.

What to Know Before Buying Bitcoin

buying Bitcoin with PayPal

Investing Responsibly

The crypto market is highly volatile and has yet to mature. Market conditions can cause a token to go from its record price to the ground in a shockingly short span of time. Only invest as much as you are willing to lose. Before jumping in, make sure to do your due diligence and understand how the crypto market/individual project works, when to invest and when to withdraw.

Why Buying Bitcoin via PayPal Is a Good Option

PayPal has been a leader in the digital payments space for many years and is now leveraging its expertise to provide a secure and safe way for investors to buy Bitcoin and other digital assets. Its easy-to-use platform allows for convenient payments in a matter of minutes. With the increasing popularity of cryptos and the rise of multi-platform transactions, investors may buy Bitcoin from any popular marketplace including Binance, Libertex, and Paxful.

Conclusion

Now you have a 360-degree view of how you can buy Bitcoin with Paypal directly or use it as an intermediary in the crypto exchanges. You also have learnt that it is a cost-effective and fast way of trading cryptocurrencies. You should also be aware of the fact that various brokers and exchanges enable seamless Paypal deposits, simplifying the process to buy Bitcoin and other cryptocurrencies instantly using your Paypal balance.

Main Takeaways

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

FAQs

How to buy Bitcoin in India?

It can be bought through various crypto exchanges operating in India.

Where to buy Bitcoin in India?

Paxful, CoinSwitch Kuber, Binance, Zebpay, etc

What can I buy with Bitcoin in India?

Bitcoin can be used to buy stuff on Amazon, appliances, furniture, movies, games, and many more.

Can I use PayPal to buy Bitcoin in India?

Buy Bitcoin on Paypal in India using LocalBitcoins, Paxful, and many more such platforms.

Do crypto exchanges accept PayPal?

Yes, it is widely accepted by many exchanges.

What are the best exchanges for buying Bitcoin?

Binance, Libertex, and Paxful are some of the best crypto exchanges to buy Bitcoin.

Is Bitcoin safe; should I buy Bitcoin now?

Crypto is a volatile market so invest in it at your own risk.

Why invest in Bitcoin; what are the pros of buying Bitcoin?

It is the most accessible and the one that has the potential for high returns.

Is Bitcoin a good investment?

Bitcoin is the first and the most trusted cryptocurrency among traders. It is a safe currency that can be great for the portfolio in the long run.

How to buy Bitcoin online?

Bitcoin can be bought through different exchanges. The trader needs to have a crypto wallet that should be connected to their bank to carry on the transactions.

When is the right time to buy Bitcoin?

It is usually suggested to buy it when the prices are low, and hold it till its price rises.