Paypal and Bitcoin Streamline the Online Purchasing Process
Paypal is one of the most trusted and popular services for online
transactions these days. Paypal is everywhere now, as many merchants and
traders have adopted it with open arms.
Bitcoin is another method of conducting online transactions, which
has carved out its own place in the market. Bitcoin is a decentralized,
digital currency, with a fixed supply, that reduces the need for using
physical or hard money.
On one hand, Paypal makes online, fiat transactions fast and easy. On
the other hand, Bitcoin is both a currency and payment system that
operates independently of the fiat monetary system, thereby making
online purchases more like an equivalent of cash purchases in the real
world—whereas Paypal is merely an intermediary between the Internet and a
Physical bank.
The speed, security, and convenience of Bitcoin has of course created
an ever-increasing demand for the digital currency. As a result, online
Bitcoin exchanges—a popular avenue for buying and selling bitcoins—have
popped up in droves.
However, one may ask the question: can I buy bitcoins using Paypal,
so I do not have to directly link my bank account to a Bitcoin exchange?
Yes, here’s how:
Successfully Buying Bitcoins With Paypal
Many people who have used Bitcoin and Paypal say that using Paypal to
buy Bitcoin is a very difficult process. If we take a glance at the
previous track record of buying Bitcoin via Paypal, we will see that
people have indeed faced many inconveniences with Paypal. These
difficulties arise due to recurring situations where a person uses
Paypal to buy Bitcoin, and then initiates a chargeback, in which the
person claims to never have received the bitcoins, and demands a refund
from the Bitcoin seller. It is said that Paypal often favors fraudulent
merchants, so most Bitcoin traders expect this system to be dangerous
with a high chance of having their money stolen, and may opt to refrain
from purchasing bitcoins through Paypal.
It is possible to successfully use paypal to buy bitcoins, though,
and sell them for a higher prices through online marketplaces, such as
LocalBitcoins and eBay. There are two methods that will allow one to buy
bitcoins with Paypal: Virwox or credit cards. Virwox charges a
commission fee for using its services, but it is, by far, easier to buy
bitcoins through Paypal with Virox than by using a credit card.
Therefore, we will show you how to use Virwox to successfully buy
bitcoins through Paypal.
How to Buy Bitcoins With Paypal by Using Virwox
We have Created a tutorial to explain the Virwox method—here is a
general overview of the steps you will have to take to use this process:
– Visit the website Virwox.com
– Register for an account on that website.
– Then, add funds to your Virwox account via Paypal
– Buy Linden$ (SLL) with USD/EUR
– Buy bitcoins with your linden$ (SLL)
– At least send your Bitcoin to your wallet.
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