Buy Bitcoin With PayPal or Credit Card

Finding a way to buy bitcoin with PayPal? You can not directly purchase bitcoins making use of PayPal, because it is risky for that seller, and therefore a handful of vendors will offer this.  Major bitcoin exchanges do not allow funding by means of PayPal and Credit Card. This is largely as a result of repeated cases where a person pays for bitcoins with PayPal, receives bitcoins and then fraudulently complains to PayPal or perhaps their credit card company they never received the goods. Too often PayPal sides with the bogus buyer and this is reasonably too risky for bitcoin seller.

You can buy Bitcoins with credit card or cash at Coinmama

The good thing is that buying bitcoins with PayPal is possible but it’s little complex and contains premium transaction fees. As you already know that PayPal prohibits virtual currencies in any form yet they allow SLL (Linden Dollars) which is a virtual currency for Second Life, an online virtual world game. This particular virtual currency could be bought with PayPal and is later on traded in terms of Bitcoins on VirWoX Exchange.

You will need a free account on VirWoX Exchange. Using the VirWoX account you can buy another currency, which is Second Life Lindens (SLL) with PayPal and then transform your SLL to bitcoins. The main reason this method works is because you will not buy bitcoins with PayPal directly, you only buy SLL with PayPal and then exchange your SLL in to bitcoin.

Due to fraudulent/hacked paypal account risk is always involved, The initial deposit amount has been limited by VirWox in order to avoid the risk of chargeback.

PayPal/Credit Card Deposit Per 24 hours Deposit Per 30 days
Upon Registration 60 EUR 180 EUR
After 10 Days 100 EUR 500 EUR
After 60 Days 200 EUR 2,000 EUR
After 90 Days 300 EUR 3,000 EUR
By Request Only 8,000 EUR 80,000 EUR

Note: There is no limit on withdrawals, in some cases it may take up to 48 hours maximum for Bitcoin withdrawals.

Following are the step-wise instructions to buy Bitcoins with PayPal

Step One: Register On VirWoX

Go to VirWoX and Open a new account by clicking on ‘Not registered yet’ option in the Customer Login box located on left sidebar.

Step Two: Fill Out Basic Information

Fill out your personal information, i.e. desired username and email address. Wherever it asks for "avatar name" just leave it at "No Avatar", it doesn't matter, since you are not going to play Second Life.

Continue filling out all of the personal details and click "register".

Step Three: Activate Your Account

On successful registration, you will get a confirmation through email including your password. Log into your own VirWoX account using the provided password.

We strongly advise you to change the initial/system generated password by going 'Change Settings' option under 'My Account' category, as soon as your accounts is confirmed.Once you change your password, login back to your account and ignore the message saying "your avatar connection has not been validated yet", you don't need to verify your avatar.

Step Four: Deposit Funds Using PayPal, Credit Card

Click on Deposit button in left sidebar and add some funds (USD/EUR) to your VirWoX account, using PayPal or Credit Card. you can also use UKASH, Money Bookers, Sofort banking, Paysafe Card or Neteller to fund your account.

Step Five: Buy SLL With USD

Now you can buy SLL with the funds you added in previous step. To buy SLL, navigate to left sidebar and go to Exchange >>> USD/SLL or EUR SLL, depending on your currency and buy SLL, we'll later use these SLL to exchange with Bitcoins.

Note: There are two options to trade Market Order and Limit Order, both options has their own characteristics.

1. You want your order executed immediately: In this case, you would simply accept the current best available rate, and place a "market order".

2. You are willing to wait for an even better rate: In this case, you place a "limit order" and specify your desired rate. Of course, your order will only get executed if and when somebody is willing to accept your offer.

Step Six : Buy Bitcoin with SLL

Once you have bought some SLL, go to the Exchange >>> BTC/SLL and buy Bitcoins with your SLL.

Just like previous step you can set a Market Order or Limit Order.

Step Seven: Withdraw Your Bitcoins

That's it, now you own bitcoins in your VirWoX wallet, you can transfer these bitcoins to your personal wallet. Just go to "Withdraw" on the left side and add the bitcoin payee address, bitcoin amount and hit the withdrawal button.

If you still have any doubt then check the video right after the break.