PayPal is a worldwide payment system that has been in existence for many years. Through out its existence, it has proven itself worthy and reliable. Many people use it to accept payments as well as to send money to their friends and family members. Given its popularity in the world, it is without doubt that there are many people who will like to know how to buy Bitcoin with their PayPal accounts.
Although the process is a little challenging, it is not impossible. Relax because we hereby write to provide you with a step-by-step guide on how you can comfortably purchase Bitcoins using the balance in your PayPal account. However, you must keep in mind that using PayPal to buy Bitcoin means that you’ll need to pay some extra fees. Below are steps which you can use to buy Bitcoin with your PayPal account through Virwox.
Step 1: Register for an account with Virwox
In order to purchase Bitcoin with your PayPal account, you’ll need to visit www.virwox.com and register for an account. Fill in the registration form and check your email inbox to confirm the validity of your email. You do this by clicking on the confirmation link which will be forwarded into your email box. During the registration process, don’t worry about the section entitled “Link to avatar”. Once this step is completed, remember to login in and change your temporal pass word. Failing to do this will have your account deleted. You change your pass word by clicking on the “Change settings” button which is located in the left menu.
Step 2: Add funds to your account using PayPal
Immediately you are able to login into your new account, proceed by clicking the “Deposit” link which can be observed in the left side of the screen’s menu. Doing this will direct you to the Deposit screen where you’ll observe the different charges and list of acceptable deposit methods. Since you’ll be depositing funds from your PayPal account, you’ll need to move down to the PayPal area and put in the amount of Euro or USD that you wish to deposit for the purchase of Bitcoins. Do not forget to press the “Check out with PayPal” button. It is worth noting that brand new accounts will have restrictions on how much their owners can deposit. Competing this step will redirect you to your PayPal account, where you can login and securely make the payment.
Step 3: Buy Linden$ (SLL) with USD/EUR
Upon making the payment from your secure PayPal account, you’ll be redirected back to the Virwox website. At this point, you’ll see a confirmation of your payment. You’ll need to convert the money in your account from USD or EUR into SLL. You do this by clicking the USD/SLL link in the menu. Note that if the money was in a different currency, you’ll need to click the appropriate link. Confirm your order in the next screen by clicking “Place Order” and following the instructions.
Step 4: Buy Bitcoin with your Linden$
With the SLL that you own, you can easily and securely buy Bitcoins. In order to sell your SLL for Bitcoins, you’ll need to click the BTC/SLL link in the menu on the left side of the screen. Note that by default the amount of Bitcoin to be purchased will be set at max with respect to the amount of SLL that you have. You’ll still have to click on the “Place Order” and follow the instructions to obtain your Bitcoins.
Step 5: Withdraw your Bitcoin into your wallet
To withdraw Bitcoin and put them into your Bitcoin wallet, you’ll simply need to click on the “Withdraw” link in the menu section. Specify the amount of Bitcoin that you’ll like to withdraw and the wallet address that you wish to send the Bitcoins into. After doing this, press the “Request Withdrawal” button. Once the withdrawal has been processed, you’ll receive a confirmation.