how to buy bitcoin with paypal

We can both agree on this:

Buying bitcoins with PayPal is hard and confusing.

Luckily, today we'll show you how easy and fast it can be.

We've put together the complete guide on how to convert PayPal to bitcoin.

We'll get into the tutorial soon.

First, understand this:

VirWoX is the easiest and most popular way to buy bitcoins with PayPal.

VirWoX is the workaround/hack discussed in this guide.

It's not super simple, but yes it really works and is the best way to buy bitcoin with PayPal today.


We suggest using the exchanges listed below or doing research before buying from any exchange.

Many exchanges are simply trying to steal your passwords and personal information!

We do research on every exchange we list and are very careful not to include scam exchanges on our site.

VirWoX: The PayPal to Bitcoin Exchange

VirWoXVirWoX Buy Bitcoin

Here’s what’s funny:

Technically, VirWoX is not a Bitcoin exchange.

VirWoX primarily serves as a market for Second Life Lindens, a currency used in the virtual world, Second Life.

Although you cannot buy bitcoins with PayPal directly through VirWoX, it is possible to buy Second Life Lindens (SLL) and then sell these for bitcoins.

While complex, this process works reliably.

The major drawback is that all the associated fees total roughly 10%.

A quick step-by-step guide on how to buy bitcoins with PayPal on VirWoX exchange:

  1. Deposit dollars or euros using PayPal to VirWoX exchange.
  2. Purchase "Second Life Lindens" with your USD or EUR
  3. Buy bitcoins with your "Second Life Lindens"
  4. Withdraw the BTC to your own Bitcoin wallet!

Pros
  • The easiest and perhaps only reliable way to purchase bitcoins with PayPal or Skrill
Cons
  • Convenience at a price; around 10% in fees to buy bitcoins with PayPal
Ease of Use
Hard
Privacy
Low
Speed
Fast
Fees
High
Reputation
Trusted
Limits
Average
Buy Bitcoin

Note: You may need to wait a couple days after opening a VirWoX account before you can deposit money.

After your first deposit, future deposits can be made instantly.

Your initial buying limit is $90 per day or $270 per month, although these limits grow quickly with time!

Before we start:

You'll need a Bitcoin wallet to withdraw your coins to after you buy.

Don't have a wallet?

Read our guide on the best Bitcoin wallets.


Recommendation

We understand:

The 10% fees are crazy high for buying bitcoins with PayPal.

Were you buying with a PayPal account connected to your credit or debit card?

Then just buy bitcoins with your credit card or debit card directly!

The fees are much lower and you'll get your bitcoins faster.

Still want to buy BTC with PayPal? Keep reading and we'll show you how!

Tutorial: Buying Bitcoin with PayPal on VirWoX

Here are step-by-step instructions to help make buying BTC with PayPal easier:

1. Open an account on VirWoX

From the home page, click on “Not registered yet?”

register VirWoX

2. Enter the details for your account

Now you’ll enter your details in order to create an account. Don’t get confused by the section titled “Link to avatar”. You can leave this untouched.

create account virwox

3. Check your email

At this point, your account has been created. A temporary password will be emailed to the address you provided in step two.

This password is temporary and MUST be changed. If you don’t change this password within 24 hours your account will be deleted. We show you how to change your password in the next step.

check email virwox

4. Change your password

Once you login with your temporary password, click on “Change settings” in the left sidebar.

change password virwox

5. Create a new password

Enter a new password. Make sure you choose a strong password, since you're dealing with money!

create password virwox

6. Deposit from PayPal

Once you’ve changed your password, click on “Deposit” in the left sidebar.

deposit from paypal

7. Deposit and select amount

Scroll down a bit to find the option to deposit with PayPal. Enter the amount you want to deposit on the left and then click the “Checkout with PayPal” button.

change paypal for sll

8. Login to PayPal

Sign in to PayPal. Note on the left side that I'm depositing $2. This is the amount I chose back in step 7. If this amount is not what you chose, go back and enter a new amount.

login to paypal

9. Verify account balance

If you followed PayPal’s directions successfully, you should now see a balance in your VirWoX account. Note that the amount displayed in your VirWoX account may be slightly less than the amount you entered in step 7. This is because PayPal charges a 2.9% + $0.30 fee per deposit.

After this, click on “USD/SLL”. If you deposited with Euro then click “EUR/SLL”.

check balance

10. Trade USD for Second Life Lindens

Remember how we said you’ll have to buy Second Life Lindens and then trade those for bitcoins? Well, now we’re buying the SLL. In this step you need to sell the USD you deposited from PayPal and get SLL.

Enter the amount of USD you want to sell.

trade sll for usd

11. Complete order

You can see in the top left of the image below that I now have a balance in SLL. If you now have SLL, that means everything has gone well.

Now click on “BTC/SLL” in the left sidebar. Now we’re going to exchange our SLL for bitcoin.

exchange

12. Trade SLL for BTC

The process is the same here. Simply enter the amount of BTC you want to buy and click “Next”.

paypal to bitcoin

13. Buy bitcoin!

That’s it! You should now see your balance in BTC displayed in the top left of the screen. You’ve successfully bought bitcoin with PayPal.

buy bitcoin


Recommendation

Did you just buy bitcoins? Don't store your bitcoins on VirWoX!

Move them into a Bitcoin wallet that you control.

Frequently Asked Questions

If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site.

The FAQ section below should answer all of your remaining questions.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

Is using VirWoX really the fastest and best way to buy bitcoins via PayPal?

Unfortunately, yes:

PayPal bans its users from selling bitcoins for PayPal funds.

Even if sellers were allowed to accept PayPal for bitcoins, the risk of fraud and chargebacks would be too large and premiums/fees would likely be higher than VirWoX.

One way that may be better is if you are able to find a local dealer at a Bitcoin meetup. If someone you trust is willing to sell you bitcoins directly for PayPal, this a good option.


Recommendation

We understand:

The fees are crazy high for buying bitcoins with PayPal.

Were you buying with a PayPal account connected to your credit or debit card?

Then just buy bitcoins with your credit card or debit card directly!

The fees are much lower and you'll get your bitcoins faster.

As a PayPal merchant, can I accept bitcoins?

There have been rumors of Bitcoin integration for PayPal merchants. At this time, however, this is still no way to accept bitcoins through PayPal's merchant tools.

Does PayPal Accept Bitcoin as a Deposit Method?

You can't fund your PayPal account using Bitcoin from within PayPal.

However:

Using an exchange like Coinbase you can sell bitcoins to your PayPal account.

Can I Buy Bitcoin with PayPal on Coinbase?

No, you can only sell bitcoins from your Coinbase account TO PayPal.

Is There a PayPal Bitcoin Wallet?

There have been rumors that PayPal has been planning Bitcoin integration.

Even so, PayPal still has not integrated Bitcoin with its services.

Is there a VirWoX Review I can read?

We've put together a complete review of VirWoX. To read it, click here.

Can I Buy Bitcoin with PayPal No ID?

VirWoX does not require ID to purchase although you may be required to use a verified PayPal account.

What is Paxful?

Paxful is a LocalBitcoins type service that also allows people to buy bitcoin with PayPal. We don't list it here, though, since VirWoX is the main method we can recommend for now.


recommendation

Do you want to buy bitcoins more privately? Try buying bitcoins with cash instead.

Should I leave my bitcoins on the exchange after I buy?

We really recommend storing any bitcoins you want to keep safe in a wallet you own.

Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins to PayPal?

Yes of course!

As mentioned above, you can use Coinbase in the USA and some of Europe. The fees for selling bitcoins to PayPal are 3.75% using Coinbase.

You can always reverse the process explained in this post, but that comes with the same crazy 10% fees.

Can you buy other cryptocurrency using this method?

You can use this method to buy bitcoins and then trade the bitcoins for another cryptocurrency using an exchange like Poloniex or Kraken.

Does Poloniex accept PayPal?

Poloniex is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal.

Well, the answer is no. Poloniex only deals with cryptocurrency and does not accept deposits using credit card, bank transfer, cash or PayPal.

VirWoX Review

Payment Methods Accepted

On top of PayPal, you can use the hack above to buy bitcoins using other methods like Skrill or Paysafecard.

Here is a complete look at all methods and currencies VirWoX accepts:

Payment Method Funds Available Currencies Fees
PayPal immediately EUR
USD
CHF
GBP
EUR 0.35 + 3.5%
$0.30 + 2.9%
CHF 0.55 + 3.5%
GBP 0.20 + 3.5%
Credit Card immediately EUR
USD
GBP
EUR 0.39 + 3.5%
USD 0.49 + 3.5%
GBP 0.29 + 3.5%
Debit Card immediately EUR
USD
GBP
EUR 0.39 + 3.5%
USD 0.49 + 3.5%
GBP 0.29 + 3.5%
SOFORT immediately EUR 2.5%
paysafecard immediately EUR
USD
CHF
GBP
20%
Skrill immediately EUR
USD
GBP
EUR 0.39 + 3.5%
USD 0.49 + 3.5%
GBP 0.29 + 3.5%
OKPAY immediately EUR
USD
CHF
GBP
free

Supported Countries

Anyone in the world with access to the payment methods above can deposit on VirWoX.

Privacy

VirWoX doesn't require any personal details, but the payment methods VirWoX accepts all require your name and other personal details.

Limits & Liquidity

VirWoX has deposit limits, but there is no limit to how much you can trade on the exchange.

Speed

All of VirWoX accepted payment methods are credited to your account immediately. Your account may take a couple days to be verified, but after initial verification all deposits are instant.

Reputation

VirWoX is a regulated company based in Austria.

Customer Support

VirWoX offers support via email: [email protected]

Theft, Scams, and Storage

If you get one thing from this article let it be this:

Don't store your bitcoins on exchanges!!!

I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

Here are two examples where users got screwed by leaving bitcoins on exchanges:

And there are many more I could list.

Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.

Besides storage, there are many scam exchanges out to steal your credit card information and/or bitcoins.

Following these two basic principles should help you avoid theft, scams, and any other loss of funds:

  1. Do research before buying on any exchange. Check reviews, ratings, and regulation information.
  2. Don't store coins on the exchange. Already mentioned above but worth repeating.

Secure Bitcoin Hardware Wallets:

How to Buy Bitcoin with PayPal on LocalBitcoins

We don't recommend buying bitcoins with PayPal on LocalBitcoins. The prices are much higher than VirWoX and the limits usually lower.

With LocalBitcoins, the fees are even worse as the premium is about 20% compared to the global Bitcoin exchange rate. Plus another 1% charged by LocalBitcoins!

Another difference is with LocalBitcoins you are dealing with an individual seller rather than a marketplace. You will also need a verified phone number connected to your LocalBitcoins account.

To start, login to LocalBitcoins and then enter your buy amount and PayPal as the payment method:

buy bitcoin on localbitcoins using paypal

You should now see a list of sellers willing to accept PayPal. Note that when I wrote this guide, the price of Bitcoin was $1,000 so the prices are mostly even more than 20% above the market rate!

buy bitcoin on localbitcoins using paypal

Click on one of the sellers and you'll see a page like this:

buy bitcoin on localbitcoins using paypal

In the example above, you can see the buyer's limits on the left side (25-100 USD). On the right, the buyer has laid a number of rules and requirements for your PayPal account. This buyer, for example, requires that you send a picture of your photo ID, have a verified PayPal account, and also send a selfie holding your ID. VirWoX does not have any of these requirements. Also, most sellers on LocalBitcoins do not sell to residents of New York.

Note, you can also check a seller's feedback and history. Click on the username on the right side and a new tab will show that looks like this:

buy bitcoin on localbitcoins using paypal

This seller has 3,000+ confirmed trades so your transaction would likely go through smoothly. If a seller has no feedback/history, this is a huge red flag!

If you had a verified account then on the left side you would be able to enter how much you want to buy and go through with your trade!