In this post I will write how to convert BitCoin to Paypal. To be more specific I will describe the simplest and fastest way to exchange BitCoin to Paypal. My choice is Coinbase because it is one of the most secure crypto exchange platform. BitCoin is the most popular cryptocurrency but you can also exchange many other cryptocurrencies to Paypal, not just BitCoin. It is important to follow some security tips and avoid potential hackers and scammers. Coinbase is available in 103 countries and withdraw to Paypal is available in the most of countries.
Via Coinbase you are not able to buy crypto with Paypal, you can only withdraw crypto to Paypal (sell crypto). If you are interested for buying (or selling) crypto via many payment methods including PayPal, Payoneer, PaySafeCard, Skrill, Western Union, WebMoney, SolidTrustPay, Perfect Money and many others you may check information about LocalBitCoins on my post How to get started with BitCoin here.
I use Coinbase for withdrawal to Paypal because it is the fastest and simplest way (in just a few minutes) and it is very safe.
How to start with Coinbase?
First step is to register account, you can do it here. Required information: First name, last name, email and password. Later you will need to enter some other information. There is a signup bonus: if you join via referrer link you will receive $10 gift in crypto when you buy or sell crypto for at least $100. It is allowed to use Coinbase without any verification with some limited options. For verification I recommend to install mobile application and it is very easy to take a pictures of your documents and upload to Coinbase.
The most important is to have highly secured email account. Some tips I described on post about crypto security tips here. Coinbase have an option to enable 2FA security which is highly recommended. You can choose between 3 options: text message / sms, authenticator app and security key.
Every time you want to login you need to enter 2-step verification code (2FA). I use authenticator app and every 30 seconds app generate new code. It is highly secure option and impossible to bypass. Also my recommend is to keep crypto assets on Coinbase only for short time period, for store recommend is to use hardware wallet. More about hardware wallet you can read on my post How to use a hardware wallet here.
Now when you have secured your account, you are ready to make transactions. You can buy or sell crypto and withdraw to Paypal.
How to make transactions?
Coinbase have integrated online wallets for many cryptocurrencies. It is very easy to use it. If you want to send crypto to Coinbase wallet just click on option “receive” and you will get crypto address and QR code. If you want to send just click on option “send” and enter crypto address where you want to send. I prefer to use a mobile app, especially when I want to send crypto – it is very simple to use scan QR code option via mobile phone camera and send in just a few seconds.
Before you can start with withdrawal to Paypal, you need to have money in main account. In my case it is EUR wallet, in your case depends about your location – may be dollar wallet or some other currency. (I am in Europe)
In my case I have sent BTC from ledger hardware wallet to coinbase BTC wallet and then sent (sell) to EUR wallet (main wallet).
Transaction will be processed instantly. Next step is to make withdrawal to Paypal account.
How to withdraw to Paypal?
Before you can make withdrawal to Paypal you need to link your Paypal account. You can also link bank accounts or bank cards. You need to go to: Settings – Payment methods and click on the Add a payment method button.
After you have linked Paypal account you will be able to make withdrawal. Now “withdraw” option will be enabled.
You will get an email notification from Coinbase when transaction will be completed. I received notification that withdrawal will be processed in 24 hours but I received money to Paypal balance in just a few minutes from withdrawal request. There is no any fees for withdrawal from Coinbase to Paypal. However there is fee for sending crypto to main wallet inside Coinbase. You can see from screenshot above that fee is 1.99 EUR.
Coinbase is a very good solution for crypto trade and exchange. Even if you are beginner in crypto world it is very simple to use it and make first steps. Perfect solution if you need Paypal balance ready to spent – if store still not accept crypto, especially BitCoin. I personally use this option to pay blogging expenses. If you are interested in blogging and affiliate marketing you can read posts about blogging and especially affiliate marketing section here. (way to generate real organic visitors from search engines such as Google)
You can use integrated online crypto wallets inside Coinbase without needs to setup separately wallets. My recommend is to setup high security settings before start use this platform as I described. For large amounts I recommend to use a hardware wallet. With this platform you can also trade and exchange many cryptocurrencies on simply way. Except Paypal account you can also link bank cards and accounts and buy/sell cryptocurrencies simple and fast. If you have any questions feel free to place a comment.