When Bitcoin was created in 2009, it was almost impossible to be bought during the first few years of trading. This was because there were almost no exchanges that sold cryptocurrency! Even if you could find a reliable exchanger, it would be really difficult to find one that accepts real payment methods.
However, in 2020, it became really easy to buy Bitcoin from a card or bank account. However, did you know that you can Buy Bitcoin with PayPal? Well, now you know it.
It is important to remember that it is not always possible to pay PayPal, when buying Bitcoin. Even most exchanges that allow you to make a deposit using fiat currency do not support it.
The main reason for this is how PayPal’s refund policy works. In fact, when people pay for products using PayPal, they are offered what is called “Buyer Protection”. This means that if they are unhappy with the purchased product, they can make a claim through PayPal and return their money.
In most cases, if the seller cannot prove that he actually delivered the goods, PayPal will withdraw the funds and return them to the buyer! As you can imagine, there is no way to prove that the buyer did not actually receive Bitcoin (even if he received it). This is why exchanges do not include PayPal in payment methods.
However, this does not mean that you cannot do such procedure, because there are several different ways to buy Bitcoin. There are exchanges that allow people from more than 200 different countries to directly buy and sell bitcoins among themselves. Each of these exchanges has its pros and cons – it all depends on what you are looking for. Now you know that buying Bitcoins through PayPal is not as simple as, for example, buying Bitcoin from a card. However, it is possible. Just make sure that you only open trades with trusted traders.
Photo by Thought Catalog on Unsplash