How To Buy Bitcoin with Paypal and Xcoins.io
PayPal is the best payment option used for the trading (buying or selling) of bitcoins. Bitcoin is a kind of crypto-currency which is made available in the form of digital currency or electronic currency. We will see in this post a method how you can buy bitcoin with paypal and xcoins.io website.
The most efficient but risky payment option for buying and selling bitcoins is the PayPal method. Though it is very effective, it is not accepted completely because of its risky and irreversible nature. That means, the payment cannot be reversed, once it has been made by the user.
Risk factor associated with a transaction using PayPal:
Generally, all the transactions made using the PayPal payment option are reversible, which means that the payments can be reversed in the case of any inconvenience. But if the Bitcoin payments are made using PayPal option, it cannot be reversed at any instance.
Disadvantage of PayPal accounts:
- Insecurity or Account Hacking: PayPal account transactions are more prone to third party hacking when compared to the bank account transactions.
- Higher transaction charges and the time is taken for the transaction are also high.
Recommended payment options for bitcoin traders:
In order to avoid and overcome the disadvantages associated with Bitcoin payments using PayPal, the bitcoin traders (buyers and sellers) are directed to the usage of bitcoin exchanges with peer to peer technology such as Coinbase, Bitsquare and localbitcoins.com. Out of these exchanges, Coinbase is the best platform that supports users from all the countries to buy and sell bitcoins at any instant of time but is somewhat expensive than any other Bitcoin exchange platforms.
The usage of the above-mentioned exchanges (bitsquare, localbitcoins.com) is very convenient and cheap while compared to PayPal. This means it reduces the fees as well as the time limit for making a deposit.
Method of buying bitcoins using PayPal:
The most opted method for buying or purchasing bitcoins is the xCoins.io website, which contains an unusual procedure in the form of a loan. In this method, the bitcoins are borrowed or bought by the bitcoin buyers along with payment authorization, which ensures the transaction charges and the loan payment. Also, this method permits the users to purchase bitcoins very easily and quickly.
Localbitcoins.com is also a valuable platform for buying bitcoins, which provide large premium rates with some pop-up offers.
Method of selling bitcoins using PayPal:
The users can use the most popular platform called xCoins.io for selling bitcoins too. It ensures easy selling of bitcoins like an investment. This platform is exclusively designed for those users, who wish to sell a fixed amount.
The users can also make use of some other low cost or cheaper methods like “localbitcoins” or bank transfers to sell their bitcoins. But before going to sell bitcoins, the users need to create and post an advertisement on their site. They must also make sure that whether they are okay with the risks associated with the specific selling method.
Though the above-mentioned selling methods are effective, they are not suitable for new users or beginners. Because those beginners may not be aware of the insecurity or losses made by fraudulence attempts. This, in turn, affects the overall profit rate of the users.