People have been wondering how to buy bitcoin with paypal for a while. PayPal is the leading payment solution in the world and can be used in many countries.
For you to use PayPal you will need to open a paypal account and link your bank account to your paypal account. It will enable you to fund your account from your bank account.
I will assume you already have a PayPal account and have some funds it. If not you have to go through that process first before you can buy bitcoin with paypal.
In this guide we’ll buy bitcoin with paypal from VirWox, this method also works if you want to buy bitcoin with credit card. VirWox is not a typical bitcoin exchange but a SLL(Linden) exchange.
Before buying bitcoin on VirWox you first to buy SLL then convert that SLL into bitcoin. This might sound like a complicated process for beginners, but worry not. This guide will take your through process and you’ll be able to buy bitcoin with paypal in no time.
Here are the simple steps to buy bitcoin with paypal on VirWox:
- Register with virwox
- Deposit funds into your VirWox account
- Buy Linden(SLL) with your Dollars/Euros
- Buy Bitcoin with SLL
- Withdraw your bitcoin
Step1: Register with virwox
Go to VirWox and signup to open a an account is free. Click on the Not Registered Yet link like in the picture below.
Then fill the registration form with your details. The only things to concentrate on is your username, email address on the basic info tab. And leave the Virtual World/Grid field as SL(Second Life) and the Avatar as they are.
Move on to the Personal Information tab and enter your first name, last name, and select the country you are in. Choose your preferred language, leave it as english if you like and solve the captcha.
Agree to the terms and conditions then click on register.
Step2: Deposit funds in to your VirWox account
The next step after signing up is to deposit funds into your VirWox account. To deposit funds into your account click on the Deposit link on the left hand side of your screen.
You will then see a table showing numerous charges for different payment methods. Notice also the limits of currencies per day. This means you can only deposit up to 108USD if you use US Dollars, 90EUR for Euros. And so on it goes for other currencies.
As you can see, you account will be funded immediately if you use paypal.
You will also see the paypal payment option and a text box that says I want to Deposit. Enter the amount you want to deposit and select the currency you want to use.
For PayPal payment the maximum USD you can deposit per day is 108USD, 90EUR for Euro an 81GBP.
After you have entered the amount click on the Checkout with PayPal button.
You will then be taken to the PayPal checkout, where you will send the funds to VirWox. If you already have a paypal account the login into you paypal account and send the funds.
This is the screen you will see.
But you will also find a form below this login button. This is for someone who does not have a paypal account and would like to pay using their debit or credit card. On that form select the country you are in. In my case I’m in south Africa so if I choose my country this is what I see:
If you decide to use a Debit Card or Credit Card then fill in the form with your Personal Details and your Card details. After that you are done funding your VirWox account. Your funds will reflect in your VirWox account on the Top left of your screen.
Step 3: Buy SLL with your Dollars/Euros
To buy SLL with your USD or EUR look for the Exchange tab and click on the currency you want to exchange from to SLL. For example if you want to convert Euros to SLL click on EUR/SLL or if you want to convert USD to SLL click on USD/SLL.
Look for a link that say place buy/sell order on the next page. Now you will have SLL instead of fiat currency.
Step 4: Buy Bitcoin with SLL
To buy Bitcoin with SLL click on BTC/SLL link on the left hand side of your screen on the Exchange tab. It will take you to the next page where you have to convert your SLL to BTC. See the image below.
The next page will let you confirm the purchase. Click on the Place an Order button. You will then see the exchange results like in the image below. Now enter the amount of bitcoin you want to buy on the textbox that says I want to buy then click the Next button.
After clicking the Next button you will see the image below, you will have to confirm your order. this means you are done, you have to withdraw your bitcoin to another wallet.
You will then see the exchange results like in the image below. This means you are done, you have to withdraw your bitcoin to another wallet.
If you have followed every single steps on this tutorial on how to buy bitcoin with paypal on virvox then congratulations.
Step 5: withdraw your bitcoins to another wallet
For example you might prefer to use a hardware wallet like the Ledger wallet or any other wallet.
To withdraw your bitcoins click on the Withdraw tab on the left of your screen.
You will then see the screen below. This gives your more options to withdraw your bitcoin and other other currencies to different payment options like PayPal, Skrill or your Bank account.
But on this guide we are focusing on withdrawing your bitcoins to your bitcoin wallet.
Enter the amount of bitcoins you want to withdraw then paste your chosen bitcoin address then click on the Withdraw button.
You will then see a message that says “Your withdrawal has been processed”
It might take up to two hours for your bitcoins to reach your wallet, you have to get a few confirmations from bitcoins miners.
To signup with virvox click here
For those who would like to buy bitcoin in South Africa you also have that option.