Where can I buy Bitcoin using PayPal?

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Asked on January 9, 2019 in Banking.
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One more option is to go with another indirect method, and that is to use a PayPal debit card. This allows you to use funds which are in your PP account, but without using PP itself as your payment method.

This method is recommended by CEX.IO. It can be used on CEX.IO, and should also work on other sites which accept debit or credit card as a payment method to purchase bitcoin.

I highly advise checking out this method, because you do not need to worry about opening up accounts on third party websites just to buy bitcoin which you plan to trade on other exchange. You are only dealing with PayPal and whatever exchange you intend to use (like CEX.IO).

The basic steps are as follows:

1. Open an account on a site like CEX.IO which accepts PayPal debit card payments.
2. Open a PP business account (see the pros and cons to learn more about this—there are situations where a personal account may be acceptable).
3. Apply for the PayPal Business Debit MasterCard.
4. Wait for approval. After you are approved, your card will be sent to you. This takes around 7-10 business days.

Once you have your PayPal debit card, you are able to use it to pay with PayPal anywhere that MasterCard is accepted. That means that the money comes out of your PP account, not your regular bank account. As a bonus, you can earn 1% cash back.

If you *** something up and PP declines your application, wait 30 days, fix whatever you did wrong, and then try again. Note that you can only get a PayPal debit card if you are located in the USA and have a valid street address.

You now can use your PayPal debit card to buy bitcoin using PP on CEX.IO or any other website which accepts MasterCard as a payment method for cryptocurrencies.

Pros:

For those who meet the requirements, this is probably one of the simplest and most straightforward ways to pay for bitcoin using PayPal, even if it is indirect.
Using this method really opens up the number of websites where you can conduct transactions. Again, very few websites accept PayPal as a payment method for cryptocurrencies, but you will find a reasonable selection accepting credit and debit cards. So long as they take MasterCard, you are all set.
You may be able to minimize your fees using this method.

Cons:

This method is only available to people who live in the USA.
You generally need to have a business account in order to get a debit card from PayPal. The exception is if you have a personal account which has received a minimum of $500 within the past 12 months.
You must use a valid US street address in order to do this, not a PO box.

Answered on January 9, 2019.
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