PayPal doesn’t like Bitcoin.
In a sense, Bitcoin is their competition, so that’s a bit understandable.
After all, instead of paying PayPal’s ridiculous fees, people can simply send money over the network for a lot less.
Sure, it may take a little while (you’re usually advised to wait for about six blocks or 60 minutes to make sure everything is in order) but they don’t lose anything on charges, fees and other standard expenses related to moving money via PayPal.
For this reason, PayPal’s terms and conditions forbid you from using it in order to procure digital currency (of any kind, which means that dogecoins, litecoins and all the other Bitcoin alternatives are also off the table).
If you get caught using PayPal to buy cryptocurrency, your account will be frozen, blocked or otherwise erased.
That’s why very few people use PayPal to direct digital currency trades (if anyone does it).
However, that doesn’t mean that there is no turnaround. A part of the human ingenuity and spirt is the fact that we will almost always find a way to bypass the rules, if not break them completely. Hence there is a way to buy bitcoins using PayPal but not directly.
How to buy bitcoin with PayPal?
It’s pretty easy, actually, but it requires some additional fees. Instead of buying bitcoin with PayPal directly, you will first purchase some Second Life Lindens (also known as SLL).
SLLs are not in conflict with PayPal’s terms and conditions and are relatively easy to buy and exchange for bitcoins. Of course, your transaction charges will be a bit higher than alternative methods, but this is one of the fastest ways to receive bitcoins.
It’s not that complicated and even though it may be a bit frustrating to go through all the trouble because of policies, it’s still an option worth exploring.
This is possibly the easiest way to get bitcoins. It’s easy enough to use even if you’re absolutely new to the digital cryptocurrency.
Of course, it would be a good idea to read a bit about it before you start purchasing.
In the very least you need to know how you can trade it, how you can use it and why it matters so much that some institutions are trying to prevent you from acquiring it. The more you know, the better.
After all, isn’t this always the case with every new thing?