How to Buy Crypto currency with PayPal
Bitcoin, Bitcoin Cash, Litecoin, Dash and Ethereum – modern cryptocurrencies are particularly interesting for investors and stock market speculators. However, where can you as an good investor actually buy a crypto cash? How do you participate in the development? Digital currency had an outstanding development over the years and are increasingly becoming the focus of investors. Just a few years ago, Bitcoin and Ethereum were still considered objects of speculation for IT freaks. However, this circumstance has changed, as more and more private and institutional investors are keeping an eye on the development of digital currencies. In total, more than 8,200 bitcoins exist today.
The Development of Cryptocurrencies Is Progressing Rapidly
A few years ago, Bitcoin and Ethereum were still the digital means of payment for a few computer freaks, but now they are also on everyone’s lips among private investors and speculative investors. The reason is simple: anyone who bought bitcoins for a few hundred a few years ago is now a millionaire. New crypto currencies are constantly springing up, and Meta is also involved in the digital currency market with its currency called Diem. If you have already been infected by the Bitcoin hype, then you have certainly already considered how you can participate in the increase in value of cryptocurrencies and where you can buy Bitcoin.
Investors who are primarily interested in participating in the performance of a cryptocurrency can trade various cryptocurrencies relatively easily via a CFD broker. Whatever cryptos you want to trade, a CFD is the easiest way to do it. You can think of a CFD like a security. As an investor, you participate directly in the development of the cryptocurrency price. If the digital currency goes up, then your CFD goes up too. However, you don’t physically own the internet currency, so you don’t own a digital coin or file. Speculative investors can leverage CFDs to do this. With a leverage factor of 30, the CFD falls or rises 30 times as much as the price of the cryptocurrency. Participation in a ratio of 1:1 is of course also possible.
PayPal
PayPal is a global online payment service that allows money to be sent and received. Depending on their country of origin, PayPal customers can buy cryptocurrencies, such as Bitcoin. The payment service provider PayPal has the potential to promote the acceptance of Bitcoin in the masses. With more than 340 million users, the company from the Golden State has an immense reach. PayPal started on its home market and customers there have been able to buy Bitcoin directly with PayPal. It took almost a year for this offer to reach other countries.
PayPal has now established itself as a payment service provider on the Internet. In particular, the early linking of eBay with the provider from the USA created a powerful partnership that led to widespread use. According to the PayPal website, 20.5 million people use the service in Germany alone. Therefore, it is not surprising that PayPal is always in demand as a payment method for crypto trading. Unfortunately, acquiring an Internet currency is not as easy as online shopping. Why is buying cryptocurrencies with PayPal not so easy? The background is that the digital currencies have made it their task to simplify different processes related to financial transactions. Therefore, sending a crypto coin from one person to another is the focus of many crypto projects – and thus they are in direct competition with PayPal, which offers a similar system for fiat currencies.
The Advantages of Paypal
The advantages of Paypal are well known: On the one hand, there is the simple functioning of the platform. With just a few clicks, it is possible to send money to other users – without having to type in a complicated IBAN beforehand. You would be reluctant to reveal them everywhere anyway, especially not on dodgy crypto exchanges. On the other hand, payments with PayPal are processed quickly. While a classic bank transfer often only arrives in the account after several days, the money transfer via PayPal only takes a few moments. Such time windows can be crucial in the highly volatile crypto market.
Primarily, this is a decentralized network. In this network, everyone involved remembers the account balance and the transaction history of all users involved. All people who are part of the network know at all times how much money belongs to which user. The list on which this is based is maintained throughout the collective and continuously. Since each block builds on the previous one, it is impossible to change or reverse a transaction that has already been carried out. This makes the technology very secure on the one hand and extremely transparent on the other.
To buy cryptocurrencies you first have to register with one of the most popular platforms. After clicking on the button, you will find yourself in the registration. First you have to enter a username, your email, a secure password and your mobile number. Just tick the terms of use and the privacy policy and click the “Trade Now” button. After registering, you need to fully verify yourself, you can find out how this works in the detailed instructions. However, you can already make your first deposit with PayPal beforehand. To do this, click on the “Deposit money” button on the bottom left of the dashboard, so that a new pop-up window appears. At this point, you have to enter the amount you want to deposit and select the PayPal payment method. Finally, click on “Send” and you will be forwarded to the payment service provider PayPal to confirm your transaction. Your deposited money is immediately available on the platform for buying cryptocurrencies.
Bottom Line
Unlike other payment methods such as SEPA and bank transfer, which typically take a few days, funds deposited via PayPal are immediately available on the platform and you can immediately buy cryptocurrency. Now you can only use the PayPal method because it is very convenient and you can react immediately when the cryptocurrency market changes a lot.