So, can you really convert BTC into PayPal cash? Of course, just like you can convert any other digital currency to cash, you can also convert BTC to PayPal cash. However, here’s a catch and the big catch is you’ll need to take help from another service. Yes, it means with PayPal you cannot convert BTC to cash. This is because of a part called the virtual currency exchanger.
Basically this is a special group of websites who change the value of Bitcoins, the virtual currency into one of the major world currencies. These include the likes of Bitstamp, GFL, Xapo, Paydotcom, etc. They do this by purchasing small buckets of bitcoins at whatever price they need to in order to make an effort to make it into their native currencies. Then they trade these back and forth in order to close a sale. This is what is known as an online swap. bitcoin to paypal
In order to use one of these services to quickly convert your bitcoins to PayPal, you’ll need to be part of one of these virtual currency exchanges. Once you’ve found an appropriate exchange, simply login and go through the following steps. First you’ll have to provide them with information related to your full name, address, contact details, account number and date of birth. Do keep in mind though that your account may be reviewed and shut down at any time without warning.
Once you’ve done this, the following screen should pop up. You should now see a list of currencies available for trading. From left to right, you’ll see that the top selection is for trading in Bittrex and then on the right a selection for Cryptocompare. Next you’ll see a drop down box which allows you to choose the type of payment you’d like to receive. The choices here include checks, money orders, wire transfer requests, credit cards and others. If you’re not sure what currencies are available for you, simply select “other”.
The last thing you should do once you have successfully signed up is to visit the designated website. Here you should be able to sign in using your PayPal email address. Once this is completed, you should find a dialogue box for selecting your country, selecting a certain time frame (in seconds), as well as a “Submit” button. Once you click this button, you should be taken back to the cryptocoin exchange platform where you should select “Change password”, after which you’ll have to select a new password. Once you have successfully signed up, the website should redirect you to the payment link located at the bottom of the page.
All of these methods are free. In some instances, such as with the Binance and Poloniex platforms, you will need to invest some money in order to get started. However, the rates offered by these platforms are quite low as compared to the others. It is also important to note that there are several trading options available on the latter two platforms. These include cryptobit, MetaTrader and FAP Turbo, which are all premium software programs.
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