- Forex 40 +
Would you like to buy Bitcoin with PayPal in South Africa?
How this works and from which providers it is possible to buy Bitcoin with PayPal is explained below.
Because even if it should initially appear that the payment method PayPal is unsuitable for BTC purchases in South Africa, on closer inspection, you will find attractive brokers and platforms that allow exactly this.
The fact that Bitcoin on many CFD brokers and crypto Exchanges is not available with PayPal, you have to be precisely sure how Bitcoin can buy with PayPal:
To buy Bitcoin, we use the broker ETFinance, as this offers the advantage that you can buy both real cryptocurrencies and CFDs – thus combining the benefits of a broker and an exchange.
ETFinance is one of the only crypto brokers in South Africa to buy Bitcoin and other cryptocurrencies with PayPal.
Now we start with the step-by-step instructions. In addition, we have created a video for you on how to buy Bitcoin with PayPal:
First, you register with your broker or crypto exchange of choice. As already mentioned, we use ETFinance.
First, we click the link to register for ETFinance:
Then, in the form, we enter username, email and password and accept the terms and conditions:
We then receive an email for verification in which we click on the link to confirm the account.
In the next step, we have to top up our account with money to buy Bitcoin. To do this, we click on the “Deposit money” button at ETFinance and, of course, choose PayPal as the payment method:
Then click on the “Send” button to deposit the amount.
In our example, we show the purchase with PayPal. ETFinance also offers other deposit options :
|Buy bitcoin with a credit card.||✔️|
|Buy bitcoin with PayPal||✔️|
|Buy Bitcoin with Rapid Transfer||✔️|
|Buy bitcoin with Skrill||✔️|
|Buy bitcoin with bank transfer||✔️|
|Buy Bitcoin with Neteller||✔️|
|Buy Bitcoin with UnionPay||✔️|
Now that we have topped up our account, we can start buying Bitcoin. To do this, we click in the search field above and enter “Bitcoin” there.
Then we click on the “Trade” button:
The purchase window then opens. Here we have the following options:
After configuring all the settings, we click on the “Open trade” button to complete the purchase.
Now we have Bitcoin in our portfolio, the purchase with PayPal is complete!
To calculate the fees when buying Bitcoin with PayPal, let’s take the following example:
With these assumptions, the following fees result:
|Total fees||Reasonable||€ 92.32|
Other platforms: XCoins also basically allows Bitcoin to be purchased using PayPal. This is a B2B landing platform. So you borrow the Bitcoin, but of course, you have to pay it back. But this can also be done with the help of real money.
The concept of lending is quite complex, especially in crypto trading, and therefore not suitable for beginners. In addition, XCoins was hacked in January 2017, which exposed various security problems of the platform. In the editorial team’s opinion, there is a much better offer than that from XCoins (e.g. our test winner ETFinance ).
If you don’t value the German language, you can also use the services of Cryptex24. It is a simple Bitcoin Exchange Service, as the provider calls itself. Registration is, of course, also required here.
Various websites claim the purchase of Bitcoin with PayPal, but PayPal is not represented in selecting available payment methods, at least for German customers. That is why we recommend our test winner broker ETFinance.
We had also reported in the past about buying crypto with PayPal via Virwox. In fact, for a long time, the virtual platform was considered the only real point of contact to use PayPal (via detours) to buy BTC.
For this purpose, the in-house tokens were first acquired to exchange for Bitcoin afterwards. Admittedly, this path turned out to be highly complex.
Virwox then closed its doors in 2020. The entire platform was affected by this, and so was the ability to switch cryptos. Buying Bitcoin with PayPal via Virwox was once possible but is now a relic of the past.
Our recommendation: Buy cryptos at ETFinance
The above instructions for Bitcoin (BTC) are also suitable for other cryptocurrencies. You follow steps 1-3, and you can get to all imaginable cryptocurrencies in this way. In addition, the broker ETFinance supports a wide variety of crypto assets so that traders have a free choice about their assets.
The popular cryptocurrencies IOTA and Ethereum can also be bought in South Africa with PayPal. You only have to know how. Secured Brokers has set up two guides especially for these top cryptos: Buy IOTA with PayPal Guide 2021 & Buy Ethereum with PayPal Guide 2021
As we have already reported in our detailed article about buying cryptocurrencies, there are both advantages and disadvantages to CFD trading or “real” crypto trading. With CFD trading, you have a fee advantage. It is regulated by the state and is protected from hackers. In addition, the setup is unproblematic, and you don’t need your wallet.
Should you decide to buy real coins, you have real bitcoins, which you also have to manage yourself. Buying actual bitcoins often involves a steep learning curve. However, one is more susceptible to hacker attacks and the loss of the password for the Bitcoin wallet.
Ultimately, it is up to the investor whether he wants to trade CFDs or real coins. However, if you have decided on our test winner ETFinance, you can take advantage of real and CFD trading. However, buying Bitcoin CFDs with PayPal is more intended for experienced investors, as you should first get to grips with the basics of CFDs.
If you want to buy bitcoins from South Africa with PayPal, you can also use the proven CFD broker ETFinance. Then, follow the steps from our guide. Buying bitcoins directly and getting them into your wallet does not work, however.
If you choose ETFinance, you don’t even need your wallet. Because this is already integrated there, you can buy Bitcoins with PayPal – from South Africa, but these are only used for trading. CFD transactions can then be carried out with the cryptocurrency via the ETFinance platform.
You can also buy Bitcoin in Switzerland with PayPal. The nice thing is that you can also use our instructions above. After all, our test winner ETFinance is also available in the country of the Swiss.
However, traders should keep in mind that Switzerland’s guidelines and tax laws apply. If there are any doubts about the correct form of entry in the tax return, it is best to contact a personal tax advisor.
In this respect, it is recommended that every investor who wants to buy Bitcoin in Switzerland with PayPal follow our link to ETFinance to register there. Of course, verification of personal information will also have to be completed here.
We don’t want to forget the third Alpine country in the league. So it will be gratifying for our readers from Austria that you can also buy Bitcoin with PayPal in Austria. Once again, we can refer to ETFinance, which is active throughout Europe and, thanks to its Cypriot regulation, fully complies with the guidelines and laws of the international community.
In Austria, too, you can choose between the exciting but risky CFD papers for a BTC investment and the real token. ETFinance offers suitable options for both types of investment.
No. Unfortunately, no known cryptocurrency exchange allows you to buy bitcoins with PayPal. However, there is a solution: ETFinance. It offers bitcoin CFDs. You have to set up an account with a PayPal broker or CFD broker.
This is almost always a verification of your account information required. You also have to provide your details when you set up an account with PayPal. Therefore, a completely anonymous purchase of Bitcoin with PayPal is unfortunately not possible.
If you can’t act completely anonymously, you should be able to buy your Bitcoin with PayPal but without registration, right? Unfortunately, it is still in the stars whether this path will ever be accessible.
Although PayPal has opened its doors to Bitcoin and Co., customers in South Africa, Austria and Switzerland have not yet found the option of making direct purchases in their PayPal account. In any case, you would have to register at least with PayPal to get access to the cryptocurrency.
And so, for better or worse, the subject of “Buy Bitcoin with PayPal without registration” has to be rejected. Instead, take on the registration and benefit from increased security, which is immense in the cryptocurrency industry.
In modern finance, verification is always associated with a certain amount of effort. At the same time, however, this also ensures increased security for everyone involved. According to official guidelines, providers are even obliged to verify their customers’ data.
So if you want to buy Bitcoin with PayPal but without verification, you are on thin ice. Only shady providers from overseas allow BTC trading without verification. In most cases, however, the payment giant PayPal keeps its distance from such offers.
If you have registered with a CFD broker of your choice and have a customer account there, you can also sell Bitcoin again with PayPal. In other words, you are already in possession of the bitcoins. If you have registered with ETFinance, this is very easy. So, if you have physical bitcoins, you have to send them to the free ETFinance wallet first.
The ETFinance wallet can be easily downloaded. After sending Bitcoin to the wallet, you can transfer it to the trading account. Bitcoins can then also be sold there without any problems.
If you want to withdraw Bitcoin, the amount can be converted into the corresponding currency. Then you can have the amount paid out to your PayPal account.
If you decide to buy Bitcoins with PayPal via ETFinance, you don’t need an additional wallet. Because ETFinance already offers its wallet for cryptocurrencies. Our test winner is not only a broker but also your software wallet at the same time.
This means that you do not need any additional hardware that would otherwise be necessary when buying Bitcoins. In addition, your bitcoins remain protected and secured thanks to the wallet at ETFinance.
You may be targeting a mobile system. Logically, you need an appropriate application for this. Nowadays, some programs run on Android smartphones and tablets, as well as iPhones and iPads.
If you are now looking for the option of buying Bitcoin via an app with PayPal, then the options are getting smaller. But again, we can refer to our test winner ETFinance.
Two different applications can be used for BTC trading on the one hand and as a Bitcoin wallet. Both can be downloaded for free from the respective stores. In addition, you can log into both apps with just one account.
However, Bitcoin can only be bought with PayPal via the trading app. You can then comfortably stow the coins you have purchased in the mobile wallet.
PayPal recently announced that it wanted to enter the crypto market itself. From the beginning of 2021, it should be possible to buy cryptocurrencies in South Africa directly in your own PayPal account. Payments are processed using Fiat currencies, similar to many other crypto merchant solutions such as BitPay. This means that the dealers will receive Fiat, and PayPal will do the conversion.
So, you can make payments in South Africa with Bitcoin via the PayPal account and buy directly in the app. PayPal will thus offer its crypto wallet. This means that PayPal users can buy, sell and buy Bitcoin.
If you want to buy real Bitcoin tokens with PayPal, you have to take a closer look. Most online platforms for trading and trading in cryptocurrencies do not even accept payment experts.
PayPal has deliberately withdrawn from further activities in the crypto market, as the company’s famous buyer protection cannot work.
This is mainly due to the anonymised transaction properties in the networks. If you follow the instructions in this guide, you can still trade Bitcoins via PayPal.
The editorial team’s recommendation is ETFinance. With both CFDs and real cryptocurrencies, you can benefit from the performance and look forward to a fully regulated platform.
In the overview above you can find the most varied of options to buy Bitcoin with PayPal. A CFD broker proves to be the test winner for secured broker. It is versatile, allows regular trading and easy registration. In addition, it is an offer that is licensed in the EU.
The payment service provider PayPal is precisely characterized by the fact that it enables direct transactions.
You don’t have to expect long waiting times in this context. If you want to initiate payouts, however, the respective broker may set its own processing time in order to be able to check the request.
Paypal is initially not associated with any costs for the normal user. Registration is free, and there is no money to keep the account. Only when receiving money do you have to expect that fees will be deducted. However, sometimes the brokers charge additional fees.
More detailed information on this can be obtained directly from the company. However, it should also be noted that some platforms require extra costs if you choose certain payment methods. This should be clarified in advance.
Those who mainly want to use electronic purses, so-called e-wallets, will find direct competitors to PayPal in Skrill and Neteller. However, these services are usually much more expensive to use. You can, of course also use credit cards, transfers or other service providers such as Sofortüberweisung and Giropay.
If you want to use the Paysafecard to buy Bitcoin, you have to take a closer look. This payment method is not widely used in crypto trading.
A trusted broker will contact you today.