5 Methods to Buy Bitcoin With PayPal Instantly in 2018

Last updated on November 24th, 2017 at 08:10 am

Buy Bitcoin with Paypal – step by step tutorial

One of the biggest issues today in Bitcoin is the fact that you can’t buy it very easily. Even though Paypal has been very favourable of Bitcoin in the past 2 years, it’s still an issue to find credible places to buy Bitcoins with Paypal in 2016.

Why won’t Paypal allow this ? Simple. There are numerous chargeback cases created by scammers who buy Bitcoin with Paypal from you and then claim they didn’t receive anything. This way they get to keep their money and their Bitcoins (here’s a short video illustrating this).

Post summary:

  1. Go to Virwox
  2. Deposit money to your account with Paypal
  3. Buy SLL on the SLL/USD exchange
  4. Buy Bitcoins with your newly purchased SLL on the SLL/BTC exchange
  5. Withdraw your Bitcoins

And now for a more detailed explanation and some additional options…

  • Bitcoin exchanges

  • Exchange rate
  • Fees
  • Buying Limits
  • Available worldwide?
  • Reputation
  • Support
  • Additional info
  • Virwox

  • virwox
  • Average
  • High
  • The limits change according to your account level€400/day
  • click this link to see what countries are availableYes
  • This company has been operating for over 4 years but has been reported to cause issues on several occasionsAverage
  • Support takes up to 48 hours to respond and is usually briefAverage
  • Click to read
  • Local Bitcoins

  • local bitcoins
  • Sellers tend to use a higher exchange rate to compensate for the risk they are takingHigh
  • Low
  • Each seller has different limitations depending on your reputation and his resroucesDepends on seller
  • Yes
  • This company is well known throughout the Bitcoin communityGood
  • Average
  • Click to read
  • Wirex

  • wirex
  • The exchange rate on the site is around 2% higher than other exchangesHigh
  • Low
  • Unclear
  • Limited to Europe
  • Average
  • Good
  • Click to read
  • Paxful

  • paxful
  • Sellers tend to use a higher exchange rate to compensate for the risk they are takingHigh
  • Low
  • Depends on seller
  • Yes
  • Average
  • Good
  • Click to read

Buy Bitcoins with PayPal through Virwox

Pros: A reliable method that has been around for a long time.

Cons: High fees

Now since no exchange currently allows a way around the charge back issues of buying Bitcoins with Paypal we are going to have to go through VirWox – The Virtual World Exchange. We will use a virtual currency called SLL (Second Life Linden Dollars), This currency is used for one of the biggest virtual worlds today – Second Life.

After buying this currency with Paypal (which is acceptable) we will then trade it to Bitcoins. My guess is that Virwox is able to do this method since they are not directly selling you Bitcoins with Paypal but rather selling you SLL with Paypal which they can prove if you received (unlike Bitcoin since it’s anonymous in nature).

Things you should know about Virwox before we get started:

  • Because of chargeback risk Virwox is taking on themselves they are limiting the amount you can deposit initially through Paypal or a credit card, here are the exact limits according to their website from April 24th 2016.

Virwox fees

  • This process hold within it more transaction fees than usual. This may still be a valid solution since the soaring numbers of BTC compensate for this. It’s important for you to be aware of the different transaction fees.
  • VirWox is delaying new user transactions for up to 48 hours. This means that it can take you 2 days to complete this process (still way faster than using a wire transfer).
  • If you still don’t receive the Bitcoins after 48 hours (which is very unusual) you can contact Virwox at [email protected]

If you find yourself getting stuck at any point don’t hesitate to contact me through the contact form on the site.

1. Go to VirWox.

VirWox is an exchange of virtual currency, you can buy there Lindens, Bitcoins, and more. It has more than 400,000 registered users and is a Second Life Lindens authorized reseller.

2. Open a free account

Click on the “not registered yet”  on the top of the left sidebar to open up a new account as shown here: buy Bitcoin with paypal - open account

3. Fill out our personal details

Fill out your username and email address. Where it asks for “avatar name” just leave it at “No Avatar”,  it  doesn’t matter, since you’re not going to play Second Life. buy Bitcoin with Paypal - fill details

Continue filling out all of the personal details and click “register”.

4. Activate your account

Once you clicked “register” you will get an email confirmation with your password. Open the email, copy the password and log back into VirWox.

5. IMPORTANT!!! Change your password!

After clicking the confirmation link it is advised you change you password as shown below since you will be transferring money through this site.

buy Bitcoins with Paypal - change password Do not worry about the message saying “Your avatar connection has not been validated yet” – it is irrelevant.

6. Fund your account through PayPal

Click on deposit on the left side and choose PayPal Express. Fund the account with how many USD you’d like.
Fund account with Paypal

Note: From now on for each transaction you will make there will be a fee – make sure you are aware of the relevant deposit and withdrawal fees.

7. Buy SLL with USD

Go to Exchange->USD/SLL on the left side. You can also go to any other currency you’d like. Buy SLL (which mean Second Life Lindens) . We will later on exchange these SLL to Bitcoins.

USD/SLL exchange Bitcoin Note: If you haven’t made a deposit yet you will get the screen shown above requesting you to deposit before you buy SLL.

8. Buy BTC with SLL

Once you have SLL in your account, go to the BTC/SLL and buy Bitcoins with your SLL.

Buy Bitcoins with SSL

Important!!!
Sometimes a manual review will be required by VirWox after this step. This can take up to 48 hours but usually takes around 6 hours.

 

9. Withdraw your Bitcoins

Choose “Withdraw” on the left side and send the Bitcoins to your wallet.

How to withdraw Bitcoins

Will this method actually work ?

Probably yes. I’m saying probably because I have received a handful of emails from people who weren’t able to get their Bitcoins. having said that, from all of the people who didn’t get their coins I haven’t gotten one email stating their money wasn’t returned to them. So yes, the process is a bit irritating but I have been using this method since 2013 and it hasn’t failed me yet.

How much fees will be deducted from my deposit ?

This is probably the second most asked question I get. It’s important to understand that when you buy Bitcoins through Virwox you are actually conducting two transactions. USD to SLL and SLL to BTC. This means you’ll need to pay a fee for each of these transactions.

The problem is that Virwox’s fee structure is always changing that is why I advise to check each case in person before proceeding.  There is a pretty cool site which shows you the current BTC/USD rate after all of Virwox’s fees. I’m not sure how reliable the site is but you can check it out for yourself here.

Are there any other methods to buy Bitcoin with Paypal other than Virowx?

Yes. However Virwox has been around for the longest time and therefor is the most reliable. If you continue reading this post I will cover 4 more methods that you can use but each of them has its pros and cons.


Buy Bitcoins with Paypal through Local Bitcoins

Pros: Wide variety of sellers from around the world

Cons: High fees, chance of scam

At the time of writing this paragraph (April 2015) this is the only known way to buy Bitcoins with Paypal. If you’re still looking for additional ways you can take a look at LocalBitcoins and try to find sellers that perhaps will be willing to sell you Bitcoin with Paypal.

Local Bitcoins, unlike Virwox is a marketplace where buyers and sellers meet. If you use this option you’ll be dealing with an actual person which means that credibility also comes into play. The way you can use Local Bitcoins to buy Bitcoins with Paypal is by finding a person that is willing to sell them to you. But since the seller is taking a big risk (as I explained in the beginning of this post) the will usually charge a really big premium (most of the times this will be more expensive than Virwox). The upside is that you will usually get your Bitcoins faster.

1. Enter your search parameters

The first step will be to go to Local Bitcoins and enter how much you want to buy and from which country. Since Local Bitcoins was originally made for people to meet face to face there is no “worldwide” search which is a shame. This means that there is no way to see all of the people who are willing to sell you will Paypal worldwide other then going through each country one at a time. Local Bitcoins search

2. Choose your seller

On the next screen you’ll see a list of available sellers, you can now browse them one by one. Here are the things to take into account: seller profileFeedback score – Located under the seller’s name. It’s advised to conduct transactions only with high feedback sellers.

Trade limits – Each seller has a minimum / maximum amount of Bitcoins he’s willing to trade.

Payment window – How much time you have for paying the purchase and marking the payment done after you initiate a trade. It’s also super important to read the terms of trade for the specific seller located on the right side. Here’s an example:

terms of trade local bitcoins Some sellers will require you have an initial reputation in order to buy from them so they can avoid scams or fraud. This means that you will perhaps have to conduct some small transactions just to get reputation.

3. Complete the trade

Once you’ve found your seller just enter how much you will to buy and click on “Send trade request”. trade request
Keep in mind that it’s crucial to conduct all communications within Local Bitcoins and preferably use their Escrow services (which are triggered automatically for all online sales).  This method is faster the Virwox but it can take you a lot of time to gain enough reputation, find your seller and also the premiums are really high (around %30 and more…).


Buy Bitcoin with Paypal through Wirex

Pros: Medium fees

Cons: Requires a long time to complete (around 10 days)

Wirex is a company that supplies virtual and physical Bitcoin debit cards. Since it’s just like any other debit card you can useWirex’s card with your Paypal account. In order to buy Bitcoins with your Wirex debit card here’s what you’ll need to do:

1.Order a physical / virtual debit card from Wirex

Go to Wirex. Click on “request new card” and choose the type of card you want. It’s possible to buy Bitcoins with Paypal through both cards (physical and virtual).

ecoin request card

A Virtual card should cost around $3 and will be enough for this process.

2. Connect that debit card to your Paypal account and verify it

Inside your Paypal account, go to “Wallet” -> “Add a card” and add your newly acquired virtual Bitcoin credit card.

add paypal card

One the card is added you will need to verify it. In order to verify the card you’ll need to have a balance of at least $3 on it so that Paypal will be able to charge you. Once Paypal charges you, you will see a 4 digit code next to that transaction on your Wirex account. That 4 digit code in the verification pin for your card on Paypal.

4 digit paypal code

3. Deposit funds to your Paypal account

I’ll assume you know how to do that :)

4. Withdraw funds from your Paypal account to your Wirex account

Go to “Wallet” -> “Withdraw funds” and choose the “withdraw funds to your card” option.

Paypal withdraw

Make sure to choose your Wirex card. The withdrawal can take up to 7 days to appear in your Wirex account.

5. Buy Bitcoins with your funded Wirex debit card

Now that your Wirex card has funds in it, you can use them to buy Bitcoins.

buy bitcoins ecoin

The whole process can take some time as verifying your Wirex card with Paypal takes some times and withdrawing the funds can take up to 7 business days depending on where you live.


Buy Bitcoins with Paypal through Paxful

Pros: Wide variety of sellers from around the world

Cons: High exchange rate, chance of scam

Paxful is the smaller less known version of LocalBitcoins. It’s a peer to peer marketplace that allows you to buy Bitcoins with almost anything (e.g. Skype credits, Amazon gift cards). The process of buying Bitcoins at Paxful is pretty simple:

  1. Create an account
  2. Choose a payment method for buying and a desired amount
  3. Choose your seller – You can either choose manually or let Paxful decide who is the best seller for you.


Once the trade initiates you will be sent in to an online chat with the seller where you can finalize the deal. The seller’s Bitcoins will be sent into Escrow and once you mark that you’ve sent your payment they will be released into your account. Keep in mind that if you don’t finalize the deal within a certain timeframe (usually 30 minutes) the deal will be auto-cancelled.

Ofir Beigel

Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

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150 Comments on "5 Methods to Buy Bitcoin With PayPal Instantly in 2018"

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Tony
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Tony
Hi, It seems from what you say using PayPal will incur high charges. I found a site called Lakebtc that offers PayPal as a payment option. You don’t mention them? I see they have mixed reviews. Do you think they are an option for simply buying 100 euros worth of a bitcoin as my first try? And can i just ask, is there ever a problem once you have paid, getting the coin exported to your wallet and once the coin is in my (Exodus) wallet, there is no longer any connection to the site from which it was purchased?… Read more »
mac
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mac

nice info also many private seller like me selling using paypal

John Smith
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John Smith

I have only one question: if suddenly another protocol, system or else better than blockchain and bitcoin appear, what will happen to bitcoin?

Steven Hay
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Steven Hay
Hi John, Well, pretty much every single one of the 1300+ altcoins will claim that their system is better than Bitcoin. There are some which are quicker to confirm transactions and do “extra things,” though I doubt any are more secure. What really counts in Bitcoin’s favour is network effect. It has been suggested that Bitcoin’s price is a function of the square of users times the average transaction value. Apparently this equation can 94% or more of Bitcoin’s price rise. See Metcalfe’s Law for more on why a system’s value rises with the number of users. Until and unless… Read more »
mahesh chaube
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mahesh chaube

why paypal directly not allow to sell bitcoin? why we have to buy ssl?
what this means to us?

Steven Hay
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Member
Steven Hay
Hi Mahesh, PayPal is reversible, Bitcoin is not. It’s very easy for a buyer to use PayPal to buy Bitcoin then claim they never received the Bitcoin. In most cases, the PayPal company will then reverse the transaction, taking the buyer’s PayPal money back from the seller and returning it to the buyer. It’s too easy for people selling Bitcoin via PayPal to get scammed, so they don’t accept it. Using an intermediary prevents this risk of reversal, at least for the seller. It’s likely that the intermediary takes on the risk instead, which is why their fees are so… Read more »
John
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John

That was supposed to be the idea of bitcoin: not necessary to use a third part in negotiation. When you use paypal, you want a security that bitcoin does not give,

Lalita
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Lalita

I have followed your direections to the tee and I now have bitcoins after much trying to figure out how on earth to buy the bloody bitcoins.
Thank you for the detailed instructions help.
Tell me, is it ok to leave the bitcoins in the Vircom site.
Awaiting your reply.

Shane
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Shane

You need to open a bitwallet like coinbase app and put your bit coins in there

Marshal
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Marshal

I usually sell BTC on Hiribi.com (they give highest rate) and looking way to get BTC via my PayPal. But only LB can do it quickly.

yee
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yee

VirWox’s customer service was horrible. Highly unrecommended.

Alex
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Alex

Is anybody here have long term practice of withdrawal pp to Virwox ? For example, if I will sell physical goods on Ebay and always buy SSL from Virwox instead of link my BA to paypal and withdrawal money there, how long PayPal will allow me to do this. Wouldn’t it will look suspicious in eyes of them as long as I wouldn’t cheat nobody?

Pi4q402
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Pi4q402

Coin base does Not allow you to purchase Bitcoin with PayPal – end of story!

thedon
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thedon

wish there more honest people like yourself saved me hours looking cheers honesty is i believe the best policy an u got it

Hannah
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Hannah

I as tired of the too many verification when buying or selling bitcoins. Now I buy from liviacoins.com and there is no verification needed.