Buying Bitcoin with PayPal - a Step by Step Guide

In the past and when it was first released, Bitcoin was typically only purchasable by using a traditional currency in exchange for this form of crypto. These days, much has changed, however, and it’s now an option to use a wide variety of third-party tools including payment platforms such as PayPal to buy Bitcoin. In this brief guide, we’ll be providing a step-by-step process to help those wanting to purchase Bitcoin via PayPal and how best to do it for maximum security.

Step 1 - Visit PayPal

If you have a PayPal account, you can visit their website, or for an equally secure alternative, you can sign up at https://paybis.com/ and create an account. Once you are logged in, you’ll find the option to select a Bitcoin tile on PayPal. This will take you to the next step.

Step 2 - Select Your Sum

Once the next page has loaded, you’ll find the option to view the value of a traditional currency when transferred to Bitcoin. This will allow you to select the sum that you’d like to spend (in a currency of your choice), and then view how much you can expect to receive in Bitcoin.

Step 3 - Confirm Your Payment Method

Many people opt to use the card and bank details associated with their PayPal account for this stage. When using a third-party app like the one linked above, the same can be done but with the added bonus of being able to input a specific bank card number. Once your payment method has been confirmed, you’ll be able to review your order before purchasing.

Step 4 - Confirm Your Purchase

At this stage, you should see a final representation of what you will receive in Bitcoin in exchange for the traditional currency that you are using to buy it. It’s important to note that all Bitcoin must be stored within a secure and dedicated wallet. If you do not yet have one, you’ll have the option to set one up, which can also be added to a third-party platform, as well as to PayPal.

Quick Tip - When setting up a Bitcoin wallet, you must make sure that you store all of the login details and information securely. If you ever lose access to your Bitcoin wallet, you won’t be able to retrieve the information as it will all be encrypted and inaccessible to anyone outside of the account holder. 

Step 5 - Receive Your Exchange

There are several factors that can affect the cost of Bitcoin at any given time, and this is why buyers and investors choose to make their purchases carefully. Once you’ve found the right time to buy, however, you’ll be able to see your Bitcoin as soon as the exchange has been received. The seller, who will likely remain anonymous during the transaction will receive the currency, and you will receive the Bitcoin. If there is no seller and the transaction was confidentially handled by a third-party platform, the same applies.

Buying Bitcoin has never been simpler, and with so many stores and manufacturers now accepting this form of cryptocurrency as a mode of payment, it’s easier to transact now than ever before.