Maria Benny
Maria Benny 2 minutes reading from Bitcoin

How to Buy Cryptocurrencies With PayPal?

🤔How to buy cryptocurrencies with PayPal?

➡️Purchasing cryptocurrencies with PayPal is not feasible at the moment. There are obviously challenges involved with using PayPal to buy cryptocurrencies and vice versa.

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➡️For one, the privacy and anonymity of buyers and sellers using cryptocurrencies are at risk of being compromised by using PayPal.

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➡️So the first thing to take into account is that there is always a danger when using these services that your personal information will be exposed to third parties.

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➡️Another thing to consider is that the transaction fees when purchasing cryptocurrencies via PayPal tend to be higher than normal.

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➡️This is due to the fact that PayPal has agreements in place with banks that require them to collect funds on behalf of their customers, which they then use to offset the fees that they themselves charge for services.

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➡️As a result, users are required to pay two sets of fees (once by PayPal, and once by the cryptocurrency exchange), which essentially doubles the cost of their investment.

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➡️So, while it may well be possible to purchase cryptocurrencies with PayPal in theory, there are significant practical challenges involved in this type of transaction that can make it difficult or even impossible for users who are unfamiliar with the process.

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This post is based on this twitter thread.

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