Bitcoin has become the new buzzword these days, and as its value rises, so does people’s interest in the cryptocurrency that has a volatile past but a promising future. The stellar performance of Bitcoin lately has been enough to attract many experienced as well as novice investors, who are constantly looking for new and more efficient ways of investing in Bitcoin and other cryptocurrencies.
If you’ve been wondering about how to buy cryptocurrencies, and more specifically, Bitcoin lately, then you are at the right place. Here we are going to take a quick look at how investors can buy Bitcoin by using their PayPal account and how you can transfer your Bitcoin holdings back after a purchase on PayPal. While the PayPal crypto service is only available for residents living in the US for now, it could catch on, which is why everybody needs to know about how they can buy Bitcoin with PayPal regardless of their physical location.
Using PayPal to Buy, Sell or Hold Bitcoin
For those who are living in the US, there are a few crypto accounts that allow users to transfer their Bitcoin holdings to their PayPal accounts. Depending on the Bitcoin account you are using, it normally involves having to go on the withdrawal section of the account and choosing PayPal to transfer your holdings.
Benefits of Buying Bitcoin with PayPal
According to estimates, PayPal has around 400 million active users, which is a mind-boggling number and is a reminder of just how popular the online platform is, and for good reason. Here, we are going to take a look at just some of the many benefits of using your PayPal account to buy Bitcoin.
Security
There are many reasons why using PayPal to purchase Bitcoin makes sense, one of which is the platform’s robust security features. It is true that the high level of security that the PayPal platform has to offer ensures that your Bitcoin investment and transactions stay safe. Furthermore, whenever you fund the Bitcoin exchange or brokerage account via PayPal, there is no need to enter any of your personal details; just link the PayPal account to the Bitcoin broker or exchange and make a deposit. The ability to make deposits without giving away your personal details alone ensures that Bitcoin investors can stay safe from cyber criminals. PayPal also tracks each transaction that provides an extra layer of security against fraud and hackers.
Ease of Use
Another advantage of using PayPal is its simplicity. The platform makes it easier for even beginners to link their PayPal account to their brokerage by simply logging in on the platform of the broker they have selected and confirm the account link. Once that’s done, all it takes are a few more clicks, and you’re good to go.
No Need for a Credit Card on Hand
By far, one of the best things about using PayPal to buy Bitcoin is that you do not require to have a credit card on you during the transaction. That’s because your credit card credentials will be already stored in PayPal along with the latest encryption technology to make sure your personal info is safe. This means, all you have to do is go ahead and carry out the transactions.
Speed
Managing your investments online is hard enough as it is with regular banking platforms requiring users to fill multiple forms and jump through hoops. But, when it comes to buying Bitcoin via PayPal, the process is a lot more doable, secure, and a lot faster. In short, both experienced and new Bitcoin investors can buy Bitcoin on the fly and make deposits to their Bitcoin exchange hassle-free.
According to reports, digital payments will be used by nearly 61 billion people by the year 2023, so it pays to hook up with a payment platform such as PayPal that’s reliable and secure.
Finally, PayPal customer support is second to none, so you can rest assured all of your queries will be handled with care. If you’re keen to try bitcon, check the bitcoin prime trading bot.
