Bitcoin is the first cryptocurrency, and to this day is the most popular. One of the main advantages of buying bitcoins is the ease of this transaction due to the demand from users, both in sales and buyers.
When to buy Bitcoin?
You must remember that we are talking about a cryptocurrency characterized by high volatility. Its course is constantly changing and can fluctuate in a fairly wide range. Your task is to buy Bitcoin for dollars from your PayPal wallet when the value of digital coins drops significantly. Watch the course change chart, and try to identify patterns. This will make it easier to choose the moment that is most suitable for acquiring cryptocurrency. Usually, users make trades if the BTC price has been declining for a long time or the price is just starting to rise.
If you need to exchange currency urgently, choose the most advantageous offer from those that are relevant at a particular moment.
Basic methods of buying Bitcoin cryptocurrency
To buy bitcoins using the PayPal e-wallet, you need to use one of the available methods:
- Cryptocurrency exchanges: Once you find a cryptocurrency exchange that accepts PayPal, you need to register on it. The verification procedure is optional, but it is advisable to go through it to minimize the likelihood of withdrawal problems and reduce the risk of account blocking. After creating an account, you need to replenish the balance. Then you can view existing applications or create your own order stating your terms of transfer from PayPal to Bitcoin. When responding to a suitable offer or the appearance of a counter, an agreement is automatically concluded, in which the exchange acts as an intermediary and guarantor. If necessary, the withdrawal of exchanged funds. It should be noted that financial transactions are accompanied by commissions.
- Online exchangers: To start, you need to choose an exchange site where you can exchange PayPal for Bitcoin and calculate live currency, for example, from the following list here. Then the form is filled out on the exchange site, which normally consists of fields such as the amount of the transfer, the Paypal e-wallet number, and the address of the Bitcoin wallet. After confirming the transaction in the payment system, you can only wait for the receipt of digital coins.
- P2P exchange: You can find a partner for a direct deal among acquaintances, but if there are none, you should look for ads or place your own on thematic forums, social media groups, and other Internet sites. This option is quite risky because there are no guarantees, so it is easy to come across as a scammer.
Otherwise, the constant introduction and withdrawal of funds will spend a lot of money through commissions, which makes this method less profitable. If you need a simple, fast, or maybe even urgent translation with a minimum of costs, you should turn to electronic exchange services.
Exchange PayPal for Bitcoin through an electronic exchanger
To really use a reliable exchange site, it is better to look for it on a special monitoring portal, such as BestChange. To get a list of the exchange of interest, you must select the currency pair in the columns on the left, ie PayPal and Bitcoin. Then the best option is selected taking into account the following criteria:
- Current course;
- The size of the cryptocurrency reserve;
- Minimum and maximum amount of withdrawal from the e-wallet;
- Feedback from real customers;
- Current status of the exchanger;
- Availability of commissions, etc.
It offers a rating of well-known rates not only for the exchange PayPal USD to Bitcoin (BTC), but also offers other areas. All exchange offices on the site are inspected before adding, and then administrators monitor their compliance with their aggregators. Information about them is reliable and up-to-date, as it is constantly updated. Various useful options make it easier to calculate and choose a profitable online exchanger.
Read Next:
Choosing A Bank: 10 Things To Consider
