PayPal Crypto: Pros & Cons Of Buying Cryptocurrency With PayPal Crypto
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- Опубліковано 26 сер 2024
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PayPal makes it really easy to buy cryptocurrency like Bitcoin and Ethereum with their PayPal Crypto site. Plus, since they are experts at having a secure site with all the normal transactions they do they promote that you can get the same level of safety by buying your cryptocurrency through PayPal Crypto. The big question is…should you? In fact, PayPal Crypto can be great for some type of investors and terribly wrong for others. Let's find out where you fit and is buying cryptocurrency with PayPal Crypto right for you.
PayPal Crypto Video Has Even More Detail With A PayPal Crypto Site Walk Through
Pro Of Buying & Selling Cryptocurrency Through PayPal Crypto
• Can get started investing with as little as $1 USD.
• Very secure with the power of PayPal experience behind their Crypto platform.
• Easier process to sign up and start buying cryptocurrency than through a cryptocurrency exchange such as Coin Base and Kraken.
• Able to buy items using PayPal using your crypto coins.
• Designed for those who want to buy cryptocurrency and hold onto it for a longer period of time.
Con Of Buying & Selling Cryptocurrency Through PayPal Crypto
• Limited selection of coins. Just have four coins available, Bitcoin, Ethereum, Litecoin and Bitcoin cash.
• May require some additional paperwork such as IRS forms for USA citizens.
• Not designed for more frequent trading. Does not provide the technical analysis tools that traders require.
• Cannot transfer your crypto to a friend or relative like you could with your own cryptocurrency digital wallet.
• If trading less than $150 at a time PayPal Crypto can be cheaper but can have higher fees after that depending on the alternative cryptocurrency exchange or online broker you are comparing to. Fees can change at anytime to do check for the most current information.
The Verdict on PayPal Crypto
In my opinion, PayPal Crypto is a great resource for someone who is a beginner and wants it to be easy. Someone who definitely does not want to be an active trader but just wants to start buying cryptocurrency. If you want to be more of an active trader with better tools and more coins to choose from them definitely PayPal crypto is not tight for you. Check out an Cryptocurrency dedicated exchange or online broker in that case.
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Not owning the crypto is the thing for me. I prefer to buy it on Instacoins and then send it to my Ledger to hold the actual coins and keys
Great video! I'm literally just starting out, so far just buying and holding, so PayPal seems the best option for now, until I graduate to something better.
Graduate to Instacoins, a much better option
Very clear and helpful! If PayPal holds the crypto, they take the risk of hacking? Your crypto value will be safe? Is that right?
No. You loose value when inflation send it down. The holding of bitcoin is 3 to 5 days whoch is terrible. You loose money.
Thanks your my first step into this world
Terrific. Ok to start slow with smaller amounts of money as you learn.
Quick question: Can you have more than one type of Crypto stored in a hard wallet? Thanks!
Yes you can. Just keep that hard wallet safe.
Dude.. soon as I heard you talking about crypto and taxes I bailed on the video... 😂😅.. I'd rather be able to snitch on myself and report my taxable events on my own.. I was trying to figure out how to buy crypto(usdt trc20.. but I can convert) with my PayPal credit.. decentralized wallet.. exodus.. safepal..
Where should I go if PAY PAL to much red tape? As a beginner. I am in Liberia and I need a income.
Hi Spiral Joe. In Nigeria check out IC Markets and Eight cap. I do not know much about them so do your due diligence but I recall seeing an article where IC Markets was best for beginners in Nigeria.
i wouldnt go near paypal to buy my bitcoin to be honest with you, i much prefer buying from instacoins and moving it to a hard wallet
what is so bad about paypal bitcoin? Is it fake, or will you be able to resell it?
Pay pal? Only Cons. But Instacoins? Only Pros. 👍
Instacoin is a joke you can only buy bitcoin