How to Buy, Hold and Sell  Cryptocurrency using PayPal?

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Cryptocurrency

PayPal comes among a few widely used online and mobile payment platforms that now enable users to purchase, sell and hold cryptocurrency coins. Furthermore, the best thing about using PayPal for holding cryptocurrency is you can invest as minimum as $1 to start your journey in the crypto world. However, before you purchase cryptocurrencies from PayPal or any other platforms, you must learn crypto trading through available courses or stay in touch with the best cryptocurrency advisor throughout your investment journey. 

Moving ahead with the topic, let us see how you can purchase, hold and sell cryptocurrencies via PayPal. 

Table of contents

  • Things to consider before buying currency on PayPal
  • Best way to buy cryptocurrency on PayPal
  • What are the limitations for buying and purchasing currency on PayPal? 
  • What are the advantages of using PayPal for buying and purchasing cryptocurrencies?
  • Closing Thoughts

Things to consider before buying currency on PayPal

Every PayPal user can easily purchase, hold and trade cryptocurrencies. Furthermore, you can even use your crypto coins at the check out page to pay for the selected purchases. Moreover, the in-built security feature of PayPal secures eligible purchases from any kind of fraud when you are checking out using cryptocurrency. 

However, as per the cryptocurrency expert, making payments through cryptocurrency is not a good idea; instead, they recommend holding the coins for the long term for better profits. 

Aside from PayPal, other similar applications like RobinHood and Venmo also provide their users access to cryptocurrencies. Hence, it is obvious why the majority of investors are drawn to platforms like PayPal. But we should note that an increase in accessibility has a higher chance of risk as well. 

So it is always a good idea to connect with the best cryptocurrency advisor in your contact before making any kind of crypto investment. Furthermore, there are even cryptocurrency developer courses available for people who want to and become a part of the crypto world professionally.

Best way to buy cryptocurrency on PayPal

If you want to purchase cryptocurrency using PayPal, then the first thing you need to do is set up your account. However, if you already own a PayPal account, you will just need to choose which crypto coins you want to buy by clicking on the Crypto option. 

At present, PayPal allows users to buy four different kinds of cryptocurrencies: Litecoin, Bitcoin, Bitcoin Cash, and Ethereum. However, the cryptocurrency expert advises starting with Ethereum and Bitcoin for beginners. 

Further, to make your crypto purchase complete, you will need the required fundings in your account. Aside from this, also link your bank account or debit card account to the platform. Here, you can either start with the minimum investment amount as $1 to the large amount up to $100,000 per week. 

Similar to any other cryptocurrency exchange, you will need to pay a fee to buy and sell cryptocurrency on PayPal. However, the exact charges will depend on the amount of cryptocurrencies you sell and purchase. 

Furthermore, you will also need to complete an identity verification process, fill up W-9 and understand and agree to the terms and conditions. Also, if you want to make a purchase using cryptocurrencies, the PayPal platform will automatically convert your cryptocurrency to US dollars without charging any additional fee. 

What are the limitations for selling and purchasing currency on PayPal?

Although buying crypto using PayPal is simple and easy, it is not similar to other crypto exchanges. It is because when you use the crypto exchange. You get a choice to transfer your holdings to your wallet or any other place. Here, you get complete ownership over your crypto holdings, but it is not fully possible in the case of PayPal. 

Not only does PayPal not allow users to transfer their crypto holdings to any other platform, but it is also mandatory to sell crypto coins to make any kind of withdrawal. Furthermore, you will also have to report these withdrawals during your tax return. 

So if you want to have complete ownership over your crypto coins. Investing in crypto exchange is a better option. 

Make sure to learn crypto trading basics before you start investing in them. Further, with experience, you will be able to make better investment decisions. Also, having the best cryptocurrency advisor by your side will keep you at bay from the majority of risks. 

What are the advantages of using PayPal for buying and purchasing cryptocurrencies?

One of the best advantages of using PayPal for crypto investment is it allows investors to experiment with their small crypto holding. Also, it is pretty complicated to use crypto coins using traditional crypto exchanges. 

Hence, making an investment using bitcoin using the familiar platform can be a good choice for beginners. Further, this is especially beneficial when you don’t intend to add vast amounts of investment and have better control over your holdings. 

As per the cryptocurrency expert, there is no predefined way to invest cryptocurrency for maximum profits. Instead, every investor needs to spend a certain amount of time to learn crypto trading through experience. Here taking help from the best cryptocurrency advisor will help you to understand the patterns faster. Also, you will get insights on which aspects you must focus while making investments for better results. 

Closing Thoughts

Keep in mind that any type of crypto investment is subject to market risk. You should only put out the amount you can bear to lose. In addition to this, you also need to consider other crucial aspects of your finances, including down payments on high-interest debt. Maintaining an emergency fund and others. 

While using PayPal or any other platform, ensure to spend optimum time to learn about smart crypto trading. Here focus on learning long-term investment using cryptocurrency. Keeping your coins secure and how to manage during high fluctuations in prices. 

If you want to learn crypto trading under the guidance of industry experts then check out the BLOCKCHAIN COUNCIL.

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