How to buy Bitcoin via PayPal (PayPal USD)
What are the restrictions on exchanging PayPal USD for Bitcoin?
This direction is available to all users who are not in sub-sanctioned countries, the list of which can be found in the policy of using the service on the official PayPal website. Suppose the user's country is interested in exchanging cryptocurrency using PayPal; this payment service works for him. Buying or selling digital assets will likely be no problem in that case.
It is also essential to consider that the service can set individual limits on account transfers, so before buying Bitcoin, you should clarify in your personal PayPal account what limit is set for a particular user.
How can you exchange USD for Bitcoin via PayPal?
Before you start exchanging, you need to select PayPal USD in the left column and Bitcoin BTC in the right column in the exchange table on the BestChange website. After that, the user will see the complete list of exchangers that exchange in this direction.
Step 1: Choosing an exchanger
It is worth noting that the number of exchangers that support the exchange of PayPal USD to Bitcoin is small. This is due to the rather strict policy of the PayPal payment system regarding crypto transactions.
In the displayed list of exchangers on the BestChange website, you need to choose a suitable service and go to its website to pass the next step — filling out the application.
What should I pay attention to when choosing an exchanger?
When choosing an exchanger, it is necessary to study the limits and available reserves of BTC cryptocurrency.
In addition, you should pay attention to the icons next to the names of exchangers: if you put the mouse cursor over them, additional information that will be useful to the user will appear. For example, this information may indicate that the exchanger:
- Does not fix the exchange rate during the transaction;
- Processes transactions in manual mode;
- Can delay the exchange for a certain amount of time (often due to increased load on the Bitcoin network);
- Can suspend the transaction and request identity verification directly during the exchange process;
- Includes a commission in the exchange rate, which is displayed in the table, and so on.
Step 2: Create and submit an exchange request
After the user has chosen an exchanger and gone to its website, it is necessary to fill in the fields of the form provided by the service, which usually includes:
- the user's Email address, which will receive a payment check once the transaction is complete;
- the amount of the exchange in USD or bitcoin currency;
- the email address to which the e-wallet account is registered or the PayPal ID from which the user will transfer funds;
- Bitcoin wallet address to receive the cryptocurrency.
Exchangers may also ask for additional information, such as the user's name, address, phone number, and other information. Some exchangers may require this information.
After filling out the application form for PayPal USD to BTC exchange, you need to accept the terms of the user agreement and AML policy and send it to the exchanger by clicking on the corresponding button.
The exchanger must confirm the application and send the user the details of the PayPal wallet to transfer USD. Most often, it happens automatically, but in rare cases, all requests may be processed manually with a slight delay.
Step 3. Payment
At this stage, the user needs to send the exact amount of USD to the PayPal wallet specified by the exchanger.
After the user sends USD, it is necessary to confirm the transfer of funds by clicking on the appropriate button on the payment page, if available. However, in some cases, the transfer can be confirmed automatically (it depends on the specific exchanger).
Step 4: Receiving the funds
If the user has transferred funds to the exchanger's wallet, he needs to wait for confirmation from the exchanger and send bitcoins to his cryptocurrency wallet. Keep in mind that a Bitcoin transaction can take up to 2 hours or more to be confirmed. This depends on several factors, including the size of the commission set by the exchanger when transferring BTC and the current load of the Bitcoin network, which can dramatically increase at any moment for various reasons.
In any case, after sending the cryptocurrency, the exchanger sends a hash (or ID) of the transaction, by which you can track its status in real-time through any browser, such as:
- Blockchair,
- OKLink,
- BTC.com,
- Mempool.space.
If the transfer is not received for a long time and/or the transaction cannot be found by hash, the user should contact the exchanger's support service or BestChange.
Before contacting them, they should check the status of the transaction in the blockchain browser: whether it has been fully confirmed or is being processed. If the transaction has been confirmed or cannot be found by hash, the user should promptly contact the support service.
