Bitcoin is only a little more than a decade old, yet it has already taken over the world. Bitcoin, which started as a niche product, is now used to trade, buy, sell, and purchase other products all around the globe. Today, crypto investments can be made by anyone using PayPal.
Although Bitcoin is gaining popularity with mainstream investors, it’s not all that popular. Those who haven’t jumped on the bandwagon should consider the many benefits of Bitcoin before writing off crypto investing as a passing fad. These include:
- Structure decentralised
Secure store of wealth
Potential for high returns
You have new possibilities.
Everyone has their own reasons to invest in cryptocurrency. No matter the reason why novice investors are interested in bitcoin investing, it is important to learn all that they can about Bitcoin via Paypal.
How do I get started?
PayPal makes it easy to buy bitcoin. All users have to do is click the “crypto” button and choose Bitcoin. Future investors can start investing as soon as they have either linked their bank accounts, debit cards or other financial assets. It takes just $1 to get started.
PayPal charges Crypto fees
If there’s one thing that turns off some potential investors, it’s high associated fees. PayPal charges transaction fees depending on how much you sell in US dollars. Transactions up to $24.99 are subject to flat $0.50 fees. For bitcoin transactions exceeding $1,000, the transaction fee is 1.5%.
What are the Downsides of the Upsides?
While PayPal makes it easy to buy, hold, and sell bitcoin, it doesn’t have the full functionality of true crypto exchanges and peer-to-peer lending platforms. There’s no way to transfer crypto from a PayPal account to another person’s digital wallet, which means the only way to access the investment capital stored in bitcoin is to sell it on PayPal and withdraw the money. This means that users must report any sales to their taxes and lose all ownership of bitcoins or altcoins.
PayPal for Bitcoin: Whom Should It Be Used?
A good option for beginners is to buy some bitcoins using PayPal. This allows them to try holding some bitcoins on familiar platforms. Once investors get more serious, though, it’s better to switch to an established exchange or peer-to-peer marketplace.
The Better Option
Want to use PayPal to buy bitcoin to trade or hold but don’t want to give up the financial independence associated with traditional crypto marketplaces? When users sign up for new accounts on certain platforms, they can link their PayPal accounts to other digital wallets. This method allows users to purchase bitcoin with PayPal, without having to worry about restrictions.
Start Investing Today
You are ready to earn money from crypto. Find a platform that is trustworthy and accepts PayPal. To get started, you can either start slow or learn more about cryptocurrency investing and the risks involved.
You need a Bitcoin through PayPal Guide. Entrepreneurship Life first published this post.