Buying bitcoins with paypal

BC changer

Currently, the safest, fastest and easiest way to purchase Bitcoins is by using coinmama.com Western Union & MoneyGram accepted.

This is a breif overview of how to buy Bitcoins using PayPal® credit.

Most major Bitcoin exchanges do not allow funding through Paypal. I'm yet to find anywhere that reliably sells Bitcoins using PayPal®. This is largely due to repeated cases where someone pays for Bitcoins with Paypal®, receives Bitcoins then fraudulently complains to Paypal® or their credit card company that they never received the goods. All too often Paypal sides with the fraudulent buyer, understandably most Bitcoin exchanges will no longer allow this method of funding due to the high risk of fraud.

While fraudulent PayPal® transactions may occur, there is also another major reason selling Bitcoins via PayPal® is not widespread. Some Bitcoin sellers have had their PayPal accounts frozen by PayPal®. From what we understand PayPal has taken this action because they consider Bitcoin to be a "ecurrency" (e.g. similar to PayPal), and depending on which PayPal® department you speak to is against PayPal's policy to sell other e-currencies using PayPal. According to coinpal's founder "Someone inside PayPal specifically decided that Bitcoin was a big enough risk that it should be prohibited". PayPal frowns upon alternative currencies.

Buying Bitcoins from individuals using PayPal® is still possible, but requires mutual trust. We encourage Bitcoin sellers to limit PayPal transactions to trusted bcchanger.com buyers only, sellers should be aware of the buyer's feedback scores before accepting PayPal® transactions.

How to buy bitcoin with paypal – a practical guide

Buy Bitcoins with Paypal – step by step tutorial

Note:  If you’re looking to buy Bitcoin with Paypal or a credit card for trading purposes only check out  AvaTrade or Plus500  Bitcoin CFD trading. For more information  read this post .

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.

Things you should know 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 December 21th 2013.

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.

Since December 2013 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 find yourself getting stuck at any point don’t hesitate to contact me through the contact form on the site.

Step 1: Go to VirWox .

VirWox is an exchange of virtual currency, you can buy there Lindens, Bitcoins, and more…

Step 2: Open a free account

How to buy and sell bitcoin with paypal - Simple step by step guide

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

Step 3: Fill out our personal details