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Author: Admin | 2025-04-28
Ideals that underpin Bitcoin; namely, the idea that Bitcoin holders are their own bank.PayPal has since softened its stance, announcing in May 2021 that it would add support for third-party wallets. That feature has yet to be implemented, however; for the time being, you can't transfer crypto out of PayPal's digital wallet, other than to make purchases (at which point it's converted into fiat at the point of sale).At the moment, if you want to use PayPal to buy Bitcoin from other sources such as exchanges, in order to retain full ownership of your Bitcoin, your options are limited; relatively few sites support it as a payment method.The main reason is that PayPal, like other credit companies, lets buyers request a chargeback in the event of a fraudulent transaction. That opens up the possibility of a buyer falsely disputing a transaction, getting their money back, and still receiving the Bitcoin they’d bought. Credit companies like PayPal typically side with the buyer in resolving a dispute, and because Bitcoin is pseudonymous, PayPal has no way to verify that the dispute is fraudulent.Bitcoin transactions are also irreversible, meaning that in the event of a fraudulent dispute, the seller will likely be left out of pocket while the buyer pockets both the Bitcoin and the chargeback.For those who want to buy Bitcoin using PayPal, but retain the freedom to move their crypto as they wish, there are some workarounds available. What platforms can be used to convert PayPal funds to BitcoinFirst up, you’ll need a PayPal account (obviously). In most cases you'll also want to set up a wallet to receive your Bitcoin; these are software or hardware cryptocurrency wallets that can store public and private keys, allowing you to send and receive cryptocurrencies.There are a few options you can choose when it comes to buying cryptocurrency with PayPal. Crypto exchange Coinbase announced in April 2021 that U.S. customers would be able to buy crypto using cards linked to PayPal. In order to use the feature, simply log in to Coinbase, select the cryptocurrency you want to purchase, tap "add payment option" within
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