PayPal Holdings, Inc operates a worldwide online payment system. This supports online money transfers and is known to be the most popular alternative to traditional paper methods like cheques and money orders. Not many people know that you can sell or ‘cash out’ Bitcoins for PayPal. If you are interested to sell bitcoin for real cash through PayPal, here are the most popular options on how to do it.
All About Bitcoins
Cryptocurrency started in 2009 and this was created by Satoshi Nakamoto. He was also the one who introduced Bitcoin; the first cryptocurrency, a few years after cryptocurrency was introduced. Cryptocurrency is secured by computer experts called the “miners” and Bitcoin owners will not need a bank account to store their Bitcoins. You can use Bitcoins to purchase whatever you want online like on Microsoft or Subway.
Selling Bitcoins For PayPal
Selling Bitcoins for PayPal can be daunting and confusing at first, but once you get the hang of it, you will find it pretty easy. Here are the three simple ways on how to sell Bitcoins for PayPal easily:
- If you have a USD balance to your PayPal account, you can withdraw it through Coinbase. They have been operating since 2016 and when you have Bitcoins, you can move it to your Coinbase account and withdraw them in US dollars straight to your Paypal account.
- This is an Australian start-up company and they offer services that cater to selling and buying Bitcoins and other cryptocurrencies. You may not be able to buy Bitcoins through PayPal but you can sell your Bitcoins with them for you to be able to fund your PayPal account.
- Virtual World Exchange or VirWox was founded in 2007 and this is an Austria-based digital convertible currency exchange. This is the only website that will allow you to instantly buy and sell Bitcoins through PayPal.
Bitcoin Legality in the United States
Even though Bitcoin is very popular for cryptocurrency investors nowadays, there are still questions about its legality in the United States. According to cryptocurrency experts, Bitcoin regulations vary by country. The legality will depend on the state where you are at and what you are doing with it. It is very safe to use Bitcoin but it is also important that you are up-to-date with its latest regulations when it comes to digital currency. Laws change across borders and the question about the bitcoin legality will continue to rise.