How to Buy Bitcoin Online with PayPal: Simple Guide for Beginners
Peter Thiel – who co-founded PayPal with Elon Musk – is a big fan of bitcoin and other cryptocurrencies. He has reportedly invested tens of millions of dollars in various crypto coins to date while starting a fund to let others do the same.
Unfortunately, Thiel’s original project – PayPal – doesn’t let users buy bitcoin easily. In fact, the service’s proclivity for returning money to customers after they open disputes has made many sellers reluctant to work with the service at all. That’s the bad news.
The silver lining is that there’s a way to buy bitcoins using PayPal quickly and easily. It’s called CoinCola, and in the section below, we’ll explain what it is and how it works.
What is CoinCola and how does it help you buy bitcoin using PayPal?
CoinCola is a hybrid crypto exchange and OTC marketplace. On the marketplace, sellers make advertisements to trade cryptocurrencies like bitcoin, ethereum and dash for real money.
Some of these sellers accept PayPal transfers, letting you buy bitcoin that way. Given CoinCola’s extremely low fee – free for buyers, 0.7% for advertising sellers – this is one of the cheapest, fastest, most reliable ways to buy crypto online.
Here’s how the process works.
Step 1 – Register and Get Verified
1. Start by visiting https://www.coincola.com or https://www.coincola.app.
2. Sign up using the “sign up” button, then verify your number by following the prompts.
3. Having verified your number, go to the “user center” section of the website – or the “settings” section of the “me” tab in your app.
4. Click “authentication” or “real name verified” depending on whether you’re using the app or the website.
5. Upload the necessary documents and data.
6. Wait for confirmation that the verification process has been completed.
Once you’re done with that, you have a verified CoinCola OTC account. Now here’s what you do to make a purchase using PayPal.
Step 2 – Making a Purchase
1. Go to the “OTC” section of the website.
2. Find a seller that accepts PayPal (look for the corresponding icon) and click “buy BTC”.
3. Open a trade by entering the amount of BTC you want to buy. Talk to the seller (or read their ad) to find out their payment terms and information.
4. Make a PayPal transfer to the address requested.
5. Click “mark as paid” and receive your bitcoin.
That’s it. Once you’re done with these steps, you’ll have bought bitcoin using PayPal!
Is buying bitcoin using PayPal safe?
Buying bitcoin using PayPal isn’t just safe; it’s one of the safest ways to buy any crypto coins. The reason is that PayPal transactions are traceable and often reversible. If anything goes wrong, you can either ask the service to give you your money back or help you locate the culprit.
In fact, many sellers are worried about refund fraud. The reason is that the service is so safe for buyers that sellers are sometimes taken advantage of. If you’re concerned about security, don’t be. Between PayPal’s and CoinCola’s verifications, there’s very little that can to you as a buyer.
Now that you know how to buy bitcoin using PayPal, why not make a CoinCola account and see how the service works for yourself? All you have to do is follow this link and use the instructions on this page. Thanks for reading and good luck!
Founded in 2016, CoinCola is a Hong Kong based company offering both over-the-counter cryptocurrency trading and crypto-to-crypto pair trading exchange. CoinCola now serves millions of users from over 150 countries with our fast, secure, and reliable trading services. We support BTC, ETH, BCH, LTC, USDT, DASH, and XRP. Visit www.coincola.com for more information.
Calculating your current Bitcoin holdings? Check out our real-time Crypto Converter here.