Additional options for buying and selling Bitcoins with Paypal

If you do not want to use VirWox to buy or sell Bitcoins with Paypal like I explained here there are several other options you can explore.

The first option is to use OTC websites. OTC stands for Over The Counter and these websites basically provide you with a list of buyers and sellers of Bitcoins. An example for such a website is Bitcoin-OTC. Hopefully the site will provide each user with a rating system so you can avoid scammers. Also when buying Bitcoins with Paypal through OTC sites it’s advised to use an Escrow service in order to assure a safe transaction. OTC websites usually don’t ask for a transaction fee from the buyer, only from the seller.

Another option to buy Bitcoins with Paypal is to purchase them on eBay. A lot of sellers put Bitcoins up for sale on eBay. Keep in mind that because the sellers can’t predict the Bitcoins price at the time the sale will take place they usually take a LARGE margin of error on the price. Meaning you will usually pay a lot more than just purchasing the Bitcoins with Paypal on VirWox or on MtGox. Also beware of sellers that advertise low prices but actually sell only a fraction of a Bitcoin – always be sure to calculate the actual BTC price before purchasing. A good idea would be to show only the “buy it now” auctions available.

One last option to buy or sell Bitcoins with Paypal is through various forums and Facebook groups. There are a lot of forums and Facebook groups that offer this service, just google “Buy Bitcoin with Paypal” + forum or type “bitcoin” in the Facebook search bar and you will see the various groups.

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