Today, The Question We Ask Ourselves Is: Is It Possible To Buy ETH With PayPal?
It’s not a secret for anyone immersed in the world of technology that cryptocurrencies are taking the economic landscape of our era to a different level. These types of currencies have been rising in popularity and have already cradled some of the most impressive stories of normal people becoming millionaires in a couple of years only by investing on the Internet money business.
Sadly, not many other crypto currencies have become as wide-known by people as Bitcoin mining (BTC) has. However, in an ongoing development that is only in its first steps and that has as final goal replacing traditional currency, it’s just a matter of time other cryptocurrencies begin to spread as BTC has done.
One of the raising alternatives to BTC is called Ether (ETH) used in the Ethereum platform, which is basically a decentralized platform for app developers to build their own apps. It was created by Vitalik Buterin back in 2013. Ethereum can be used for coding, marketing, protecting and crowfunding things such as domain names, financial exchanges, most types of agreements, contracts and intellectual property transfer.
Ether is nothing else than the currency used in this platform called Etherium. Usually, shortened to ETH, Ether can be commercialized and mined just like other crypto currencies such as BTC. Even though founders prefer to say it’s more like a fuel for the Ethereum platform than a Bitcoin cryptocurrency. Users are not likely to be able to buy stuff with this currency, but what’s so attractive about it is that you can invest on it and expect the price to rise.
As ETH is still considered a “new” form of cryptocurrency it’s considered too technical for users. Also, in June last year, a hacker was able to steal around $60m in Ether coins. Having spotted this flaw, the founders decided to divide Ether into two types of currency with alternated code, Ethereum (ETH) and Ethereum Classic (ETC). Today, ETH is worth way more than ETC and is more common in the cryptocurrency community in general.
Rising businesses are always a great opportunity in which to invest money and crypto currencies have become very attractive for Internet investors since they tend to increase their price substantially in just a couple of years. Just the way it happens with many other cryptocurrencies, there are two ways you get Ether and then wait and then see what happens with the price:
Therefore, buying Ether stands out as the best option to acquire some coins if you don’t have the equipment required for professional mining procedures.
There are many ways people can buy Ether online. Some are faster and some are better to avoid additional fees. Buying Ether via Coinbase, using a credit card would be the fastest way to acquire some coins. However, there are other practical ways you can use in order to acquire some Ether and, actually, it’s possible to do it with PayPal.
Yes, You Can Buy ETH With PayPal!
Not long ago it was impossible to buy Ether using the money from your PayPal balance. This was such a big drawback taking into account how popular PayPal has become for people who want to handle their money online. The steps people had to follow before sites as Coinbase and Gemini started accepting PayPal were so tedious:
1. First, you had to transfer your money from your PayPal balance to a debit or credit card. If you didn’t have one then you had to transfer it to an online card.
2. Once you had your money in a platform accepted by Coinbase or Gemini, you had to buy Bitcoins for Bitcoin mining.
3. Then you had to look for another site that accepted Bitcoins in exchange for Ether.
All these steps are no longer necessary since Bitcoin wallets like Coinbase and Gemini started commercializing Ether themselves and accepted PayPal as a valid method of payment. You could also try looking for someone interested in a direct transaction, but this was even more difficult.
PayPal policies now make reverting to a payment possible and this way, sellers would be risking losing their BTC wealth in exchange for nothing. The last option was going on the exhaustive task of looking for someone in a convention or something, who held Ether and was interested in selling them to you.
Now, However, You’re Able To Buy With PayPal ?In Just A Few Steps!
For U.S Customers The Procedure To Buy Ether With PayPal Is Very Easy:
1. Log in to Coinbase
2. Set Ethereum as your currency
3. Enter the amount of ETH you want to buy or how much of your local currency you want to invest
4. Select PayPal as payment method
5. Confirm your order and then click on Buy Ethereum
You can do this transaction using your browser, but you can also do it via Coinbase’s app for Android and iOS. Sadly, if you aren’t from the U.S., you won’t be able to buy Ether via Coinbase or Gemini. Nevertheless, you can still buy some Ether following a longer process. First, you’ll have to open a VirWoX account.
As it doesn’t accept Etherium right now, you’ll have to deposit money from your PayPal balance, buy Bitcoin and then transfer BTC from your VirWoX account to a BTC wallet. Lastly, you’ll be able to trade your BTC for ETH and store the ETH in your ETH wallet—a last resource method to buy ETH with PayPal.