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How To Buy Bitcoin and Crypto With Paypal in 2021


In November 2020, PayPal announced that all US users would be able to buy bitcoins and 3 other cryptocurrencies (LTC, BCH, ETH) directly through their PayPal digital wallet. (Read More)

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Recently, PayPal has become very favorable to crypto. In November 2020, the company announced that all US users would be able to buy Bitcoin and 3 other cryptocurrencies (Litecoin, Bitcoin Cash, and Ethereum) directly through their PayPal digital wallet.

How To Buy Bitcoin and Crypto With Paypal in 2021

However, for the time being, if you aren’t a US citizen you won’t be able to use this feature in the near future. Furthermore, cryptocurrencies bought with PayPal are locked within your wallet and cannot be transferred anywhere else. This means that you won’t be able to use your coins outside the PayPal platform.

So is there a solution to buy crypto with PayPal? The short answer is yes! – although this isn’t as easy as it may seem. Popular cryptocurrency exchanges such as Binance or Coinbase do not accept PayPal as a method of payment yet.

In this article, we will explore the different options on how to buy cryptocurrency with PayPal, together with their pros and cons. Let’s dig in.

Buying crypto with PayPal on eToro

The easiest way to buy cryptocurrencies with PayPal is through the eToro social trading platform.

eToro is a social trading and multi-asset brokerage company that has registered offices in Cyprus, Israel, and the United Kingdom. They have an online trading platform that has both manual and social trading features. Social trading enables users to follow the financial trading activity of other users and copy their trades.

While it’s fairly easy to register and buy crypto on eToro, you will be quickly disappointed if you wish to transfer them to a personnel wallet, as the process is tedious and doesn’t guarantee results. So, if your goal is to use your crypto for purchasing services or goods or send them to someone as a gift, there’s nothing to see here.

If, on the other hand, you wish to make profits from cryptocurrency price fluctuations, eToro is a great platform to do so. The fees are fairly low and it provides an intuitive interface for trading cryptocurrencies.

That being said, make sure that you understand the risks of trading with cryptocurrencies. These are highly volatile assets and inexperienced traders can quickly lose their funds if they aren’t careful.

Pros: Low fees, easy registration, beginner-friendly interface.

Cons: Not available worldwide, withdrawing crypto is tedious.

Buying crypto with PayPal on LocalBitcoins

Another, albeit more complicated method of buying cryptocurrencies with PayPal, is peer-to-peer exchanges such as LocalBitcoins.

LocalBitcoins is a peer-to-peer bitcoin marketplace based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins.

Users of the platform post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins.

This means that you aren’t dealing with a corporation here, but with the actual person selling the bitcoins. So the seller’s credibility and reputation is another thing to watch out for. That being said, LocalBitcoins has a reputation and feedback mechanism for users and an escrow and conflict resolution service.

Worth noting is that there aren’t many other options for buying cryptocurrency with PayPal, and the sellers know this. Expect to see high fees and get charged a premium, sometimes 10% over the market price.

Pros: available globally, with sellers all over the world, the price of Bitcoin is higher than average

Cons: high fees, the chance of getting scammed

Buying crypto with PayPal on Paxful

Paxful is a very similar platform to LocalBitcoins but offers even more variety in methods of payment and you can buy USDT in addition to Bitcoin.

Paxful is one of the leading online peer-to-peer marketplaces that connects Bitcoin buyers and sellers. The platform was established in 2015, making it one of the most well-established p2p methods to buy or sell Bitcoin.

While Paxful is trusted by over three million users around the globe, you still need to remain vigilant as you are again buying from an individual seller. Thankfully the exchange offers a good seller’s rating method which can be relied upon.

Pros: available globally, tons of different payment methods such as gift cards and over 100 digital wallets

Cons: high fees, the chance of getting scammed

Buy crypto directly on PayPal

Finally, there’s the most obvious method of buying cryptocurrencies with PayPal which was introduced in November.

The process is fairly simple as purchasing cryptos can be accessed directly through the digital wallet. However, as we previously mentioned, this service is currently limited to US citizens only and you cannot withdraw your cryptos or use them for payments.

Pros: simple buying process

Cons: crypto remains locked in your PayPal account, cannot use them to make payments.

Wrapping up

Contrary to common sense, PayPal isn’t a widely accepted payment method for cryptocurrencies. The main reasons for this are the risks of chargebacks and the high fees PayPal charges merchants.

Hopefully, PayPal will soon allow cryptos to be withdrawn from their wallet, or at least let them be used as a payment method for goods and services. 

Image source: Shutterstock Source: https://Blockchain.News/analysis/how-to-buy-crypto-with-paypal-in-2021

Blockchain

Bitcoin: Here’s the long-term signal you might be ignoring

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Bitcoin’s market capitalization hitting $1 trillion corresponded with a surge in price on the charts. In the said case, the last of the market volatility and network momentum pushed the price higher, before the drop that followed. However, if we look at Bitcoin as an asset to be used as collateral, there is wider scope for the vertical growth of its market capitalization.

Arcane Research’s latest report looked at the journey from $1 trillion to $20 trillion, a figure that is the value of the global market for collateral. Currently, while this $20 trillion market is dominated by government bonds and cash-based securities, there is a widening gap that is creating systemic risk in the system.

This makes it possible for Bitcoin to bridge the gap and make the collateral system largely risk-free and stable, unlike the fragility being observed right now. Counterparty risk and credit risk are currently the top two challenges in the collateral system and Bitcoin could emerge as the ideal solution in such a case.

Using Bitcoin as collateral, and how it impacts the price

Source: Arcane Research

Based on the aforementioned report, it can be estimated that around 6,25,000 BTCs are being used as collateral in the crypto-market. At their current price, that would be worth approximately $30 billion. However, right now, Bitcoin accounts for just 0.15% of the total collateral market. With the figures for the same expected to rise, the same is likely to have a positive impact on the price in the long-term.

Of late, whenever Open Interest on derivatives exchanges has hit a peak, it has coincided with times of high volatility and hikes in Bitcoin’s price, with corrections following soon after. An over-leveraged market is closer to price correction, based on past instances in previous cycles.

Using Bitcoin as collateral, and how it impacts the price

Source: Arcane Research

The attached chart, for instance, highlights the OI in Bitcoin Futures corresponding to March 2020’s Black Thursday and the recent ATH of $58,330. Since derivatives markets were the ones to first introduce Bitcoin as collateral, a hike in OI in Bitcoin Futures signals there may be an increase in the amount of Bitcoin being used as collateral, and eventually the price of the asset, in the long-term.

Now, this metric may not influence the price in the short-term as much as other metrics like trade volume, exchange reserves, and the SOPR. In the long-term, however, leveraged futures may lead to a hike in Bitcoin’s price.


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Source: https://ambcrypto.com/bitcoin-heres-the-long-term-signal-you-might-be-ignoring

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ProBit Exchange Lists EXGold (EXG) | Gold For The Digital Age

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ProBit Exchange Lists EXGold (EXG) | Gold For The Digital Age

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EXGold (EXG) has officially listed their token EXG on ProBit Exchange as the digital gold solution solidifies their partnership networks with one of the top South Korean exchanges and its global demographics.

EXGold was developed to capitalize on the burgeoning stable coin niche through its innovative, digitized protocol. Eliciting unmatched price stability and promising conceptual NFTs, EXGold will offer a reliable revenue stream for holders willing to subscribe to predetermined lockup periods.

Pegged to the price of gold, EXGold will reflexively mirror the price of its real-world counterpart. This relationship is immutable, meaning 1 EXGold token will always be worth the price of 1 gram of gold.

Grounded in the Ethereum protocol, EXG offers frictionless transferability and inherent scarcity, with a circulating token supply fixed at 5 million. EXGold ensures a fair, secure incentive structure with programmable smart contracts and predetermined lock-up periods. Soon to be available on Uniswap, EXGold developers are pushing to establish EXG as a potentially leading stablecoin and safe-haven asset.

EXGold’s recent partnership with a Peruvian mine, enabling direct tradeability, is a first of potentially many, real-world partners and the platform is transforming how traders interact with gold and view the “buy” and “hold” process.

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ABOUT EXGOLD

EXGold is a digital secure way to buy and hold gold and is pegged to 1 gram of gold.

http://www.exgoldproject.com/

ABOUT PROBIT EXCHANGE

ProBit Exchange is a Top 20 crypto exchange globally. We have completed over 200 rounds of IEO and have been consistently ranked Top 4 in Korea. ProBit Exchange provides unlimited trading access highlighted by over 1,000 trading pairs.

PROBIT EXCHANGE’S GLOBAL BRAND TRUSTED BY MILLIONS OF USERS 

100,000+ community members
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User interface of Multilingual website supporting 41 different languages

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Join our active programs and get huge benefits!

1. Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading fee

2. Stake Mining: Stake PROB and earn PROB at a rate of 4% per annum 

3. Referral Program: Earn 10-30% of trading fees for referring friends to ProBit

4. ProBit Exclusive: Subscribe to 50% off Top 200 tokens 

5. Auto Hold Campaigns: Hold tokens and get 6% annualized returns

ProBit Global: www.probit.com

ProBit Korea: www.probit.kr

ProBit Telegram: https://t.me/ProbitEnglish


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/probit-exchange-lists-exgold-exg-gold-for-the-digital-age/

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Bitcoin: Another Correction Stage is Over

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By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The digital currency is actively recovering after a deep correction. For bulls, it was important to make the price rebound from the support area at $42,500. A lot of investors are scared by such high volatility of the cryptoasset, even hedge funds are pretty sure that the number of institutional investors, who are ready to invest in BTC, will significantly increase after these fluctuations slow down.

Citibank experts believe that there comes a crucial moment for Bitcoin and the digital asset may either become a global payment method or end up with another speculative blowout. JPMorgan specialists are very active in recommending their clients to hedge from other types of markets, such as stocks and precious metals, and invest up to 1% of their investment portfolios in Bitcoin and other digital currencies.

btcusd

In the daily chart, BTC/USD has once again rebounded from the area between Moving Averages and that’s still an indication of a bullish impulse. The previous movement from such an area resulted in further growth of the asset by more than $29,000. Possibly, this scenario may repeat this time as well and BTC may reach $72,000-75,000. Another signal in favor of this idea is another rebound from the support line at the RSI. However, the bullish scenario may no longer be valid if the instrument breaks the rising channel’’ downside border and fixes below $42,950. After that, the price may move downwards with the target at $29,135.

The current asset growth can’t even be stopped by growing criticism of the primary cryptocurrency. Bill Gates is sure that the performance of transactions in the Bitcoin network is extremely power-consuming if compared with conventional transfers, and that causes a lot of harm to nature in the long run. Rakesh Jhunjhunwala, who is called Indian Warrant Buffett, appealed for regulating authorities to ban BTC in India and said that the asset was just a speculation of the highest order.

Many investors think that the current aggressive growth of Bitcoin is just a temporary phenomenon caused by heightening interest among major investors. As far back as a year ago, Ray Dalio said that with cryptocurrencies moving higher and being accepted everywhere, these assets may face aggressive criticism as well as an eventual ban by authorities. This is exactly what we are witnessing right now.

btcusd

As we can see in the H4 chart, BTC/USD has broken the descending channel to the upside and may continue trading upwards to reach $65,000. However, one shouldn’t exclude that the pair may resume growing only after returning to the broken border. A strong signal in favor of a further uptrend will be a rebound from the support line at the RSI.

Disclaimer

Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Source: https://themerkle.com/bitcoin-another-correction-stage-is-over/

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