How to Buy Bitcoin via PayPal at Paxful? Step-by-Step
In this article, we provide a detailed step-by-step guide on how to buy Bitcoin via PayPal at Paxful. To achieve safe purchase, below are the steps that traders need to take while using the e-payment system at the crypto peer-to-peer (P2P) exchange.
This is a detailed article about how you buy Bitcoin via PayPal at Paxful, in specific. If you are looking for other alternatives, like LocalBitcoin or VirWox, you should go to Buy Bitcoin with PayPal where all options are listed.
As with any other platform, traders need to register an account with their email. The process is simple as you would expect, lasting for only 5 minutes, depending on how fast can you click the link sent to you like an email confirmation. To further secure your wallet, we recommend activating two-factor authentication (2FA) using your phone number. Activate it at the “Security” tab within the dashboard page, as seen in the snapshot below.
Paxful, being a true P2P marketplace, allows users to undergo verification of account if they want. Thus, it is possible to buy bitcoin via PayPal at Paxful without ID. However, sellers might want to charge extra for the instantaneous and private purchase through PayPal. So, being a verified user can really make your life easier but is also not necessary.
To become a verified buyer at Paxful, go to the “Verification” tab and start the ID verification. You can choose one of the following documents to become a verified user, as seen in the snapshot below bullet points:
· International Passport
· Driving License
· Government ID Card
You will need to upload the scan of the document once the form is completed. The process usually takes between a business day and two. It can last longer if users open up a large number of support tickets at the time of your verification processing.
As a next step, click “Buy Bitcoin” button at the top of the page to search for PayPal options at the Paxful market. Check “Buy Bitcoin,” currency you wish to pay with and PayPal as desired purchase method, as seen from the picture below.
Once results load, we advise setting the location on Worldwide as it takes into account all offers that accept PayPal. E-payment works for many countries. Thus, the more regions you include, the better offers you might get while buying Bitcoins at Paxful. You can do so as shown in the snapshot below. First results represent the best deal for your buck. As the list goes down, BTC gets more and more expensive.
If you opted for a verified account at the registration phase, you can create an offer Instead. Click “Create an Offer” under the “Buy Bitcoin” button to get the form like the one below.
Then, choose the PayPal payment method as well as the “Buy” option at the top of the page. This will signal sellers on how you will pay them.
Do not forget to choose fiat currency you will use, depending on your PayPal balance. Below example uses USD but there are many other currencies that you can select as well.
Lastly, proceed towards the next step by clicking “Next” on the right of the page.
You then set the number of Bitcoins you want to purchase, as to draw in sellers with sufficient wallet balance. You do so by setting the minimum and maximum number of Bitcoins per trade. You can leave it flexible or stick with one number, as seen below.
Lastly, choose the amount of time the seller has to confirm BTC transfer. The lesser you put, the bigger the security you have. However, inflexible timetables might put sellers off if the request is not reasonable.
At last, detail out how you wish the purchase process to go, as indicated by yellow squares in the snapshot below. This helps sellers understand before engaging with you your terms. Here, you should put:
· Timeline on when and how you want BTCs transferred
· What kind of seller accounts you work with (verified or unverified)
· How transfer fees are handled
· Any other details of importance
If the seller finds terms agreeable, they will contact you directly. Be sure to check whether he or she read the terms before launching the BTC purchase process.
As a next step, you should choose and investigate the seller before you agree on anything. No matter if you found them, or they found you, (through your own ad), it is crucial that their profile is not empty. You check whether their account has some history. In case you decide to purchase coins without verifying your account, you can work only with those sellers that accept such accounts while selling BTCs.
Go to their profile and check green circles presented in the snapshot below. The more positive feedback — the better chance you are working with a genuine person and not a scammer.
Click the “Buy” button to initiate chat and agree upon terms. Sellers can limit buyers down to verified accounts, the number of coins available for purchase, and other factors, as presented by the snapshot below.
Before initiating chat and purchase process (click “BUY NOW” for that), check additional terms as set by the seller.
Now, it is time to actually buy Bitcoin via PayPal. Click “BUY NOW” button so that a chat window would open between you and the seller. Talk about terms, make sure they are relevant. Sellers need to know only that you are verified by the system and do not need your actual documents.
All transactions go through escrow service and as such allow you to withhold payments while BTCs travel to your Paxful wallet.
Check your bitcoin wallet if the balance changes to the one you are expecting (as it should). If it did, voila! You have purchased your very first Bitcoins through Paxful. Now, we would advise to transfer them out of the platform (snapshot below) towards cold storage wallets or to platforms where security is better than at Paxful.
Apart from Paxful, there are more options on how to buy Bitcoin via PayPal. We prepared a detailed guide on where to buy Bitcoin with PayPal, including LocalBitcoins and Coinbase, which you should check out