In this article I will teach you how to convert your PayPal to Bitcoin.
Localbitcoins
To convert PayPal to Bitcoin use the site LocalBitcoins . LocalBitcoins is a service that enables people to buy and sell Bitcoins between each other in OTC fashion, similar to Craigslist. The site advertises having exchangers from 162 countries as of 9/7/2013. It allows for not only conversions of Bitcoin to Cash, but it also allows for alternative payment methods, one of which is of course PayPal.Â
How to convert PayPal to Bitcoin
1. Make an account on localbitcoins by following this link
2. Then, navigate to this link which will show all the sellers who are currently accepting Paypal for Bitcoin.
Next, choose a seller who has high feedback and who was recently active. You can check a user’s last activity by hovering over the circle next to their name.
Now the price you might see for the conversion of bitcoin to paypal might be quite inflated but that is because the seller who receives the PayPal is taking a risk which involves the buyer initiating a false chargeback. With PayPal a buyer can say that the purchase was fraudulent and initiate a chargeback, however once the seller sold the bitcoins he cannot get the money back. That is why the price to convert Paypal to Bitcoin is abit higher.
The rest is self explanatory, you press the buy button and go from there. A few tips is to make sure you read the listing carefully as sellers post very specific instructions as to how to pay them (Goods/Services or Gift) and what information to put in the paypal message (if any).
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