Today more and more people decide to enter the business of crypto currency, so in this article we will see how to proceed to purchase Bitcoin Cash with Paypal, which is then the starting step for those who aim to trade.
Below we list the best platforms for buying Bitcoin Cash with Paypal, chosen on the basis of popularity, regulation and security.
Trading Bitcoin Cash With Paypal: the First Step
First of all, to trade on Bitcoin Cash units with this method you need to have a Paypal account and make sure you have a surplus balance. Therefore, the first thing to do, if you do not already have one, is to register with the Paypal circuit and deposit money by credit card, debit card or bank transfer.
Everyone will be free to deposit as much money as they want, even if the best thing to do is try not to fall below 100 euros seen and considered that most trading platforms have a kind of “barrier to entry” and do not accept deposits of less than 100 euros. Obviously this is the minimum recommendable, therefore if you are in the conditions to be able to deposit more money would be preferable to do so (if nothing else to see to increase the possibilities of gain and to touch with hand profits if we want more substantial).
To deposit money on Paypal just register at the official website and, once logged in, click on the “Wallet”. Then click on “Link a new bank account” or “Link a new card”. At this point, follow the instructions that will be given to you gradually and that will lead you to the conclusion of the process of connection. Once the connection has been completed, you can reload the Paypal fund in the terms and times you prefer and, above all, you will have created the primordial condition that will allow you to purchase Bitcoin Cash.
How to trade on Bitcoin Cash With Paypal on Plus500
To trade on Bitcoin Cash with Paypal you must now rely on a trading platform that allows you to do so. One of the most authoritative in this regard is without a doubt Plus500, which over the years has proven to be a leading broker in the field of cryptocurrencies.
To proceed with the purchase of cryptomoneta (and then with the trading) you must register on the platform, verify your identity by following the terms described by the platform itself, and make the deposit by choosing precisely Paypal as a method of payment. As we said, the amount of the deposit will be you to establish it: just know that Plus500 does not allow refills of less than 100 euros.
Once the money is regularly credited to your account, you will be free to buy and sell Bitcoin Cash taking advantage of the price volatility. On the other hand, we must remember something that often tends to ignore, but that is actually a key element for those who aspire to make a profit with trading on cryptocurrencies: Plus500 allows you to open positions both upwards and downwards.
Buy Bitcoin Cash with Paypal on eToro
You can certainly not forget to mention eToro, which until proven otherwise is another leading reality in online trading. Here too there is the possibility to top up your personal account with Paypal and to proceed with trading on the cryptomoneta.
eToro is a famous broker, present on the international scene for many years. Its notoriety is due to one aspect in particular, which in the industry is known as “social trading”. Social trading is a trading technique that allows users to interact with each other, so eToro embodies in the clearest way what is the perfect fusion of classic trading with the world of social networks.
In eToro you will not find aseptic and impersonal areas, but a vibrant community, active and interactive, populated by thousands of traders who dialogue and share considerations, choices and personal experiences. This interaction is not limited to the sharing of opinions or the possibility to know the choices made by other traders: with Copy Trading the principle of sharing is filled with meaning. How?
Quite simply, copy trading allows a trader X to copy trades made by traders Y and Z. In this way each user will be free not only to view the choices and performance of the most experienced traders, but will also have the ability to copy their trades so as to increase the chances of making a profit. Of course, eToro ensures that information about each trader is provided in a complete and transparent way, so before you choose to copy a trader you will also know how much he has earned, over what period of time he has done it, what he has invested in and how much he has exposed himself to risk.
Well, if you want to take advantage of all this and trade in cryptocurrencies with eToro, all you have to do is register and make a deposit by choosing Paypal as your payment method.
Purchase Bitcoin Cash on Crypto Exchange and IQ Option
IQ Option is a binary options broker that has managed to grow considerably over the past few years. On the other hand, we are talking about one of the most practical and intuitive platforms that there are around, as well as a broker who opens the doors of trading to virtually anyone: its minimum deposit conditions and minimum trade are so favorable as to be able to attract even those who, in trading, want to spend a few dozen euros at most.
IQ Option has recently opened to the world of cryptocurrency, aware of the growing popularity of this market segment. There is, however, a shadow area to be noted, namely the absence of Paypal as a method of payment supported.
Purchasing Bitcoin Cash on Paypal on LocalBitcoinCash
Another possibility to enter the cryptocurrency market is to buy Bitcoin Cash on Paypal through LocalBitcoinCash. Let’s talk about a tool that is the twin brother of the famous LocalBitcoins, and that just like the latter allows you to buy cryptomonet units in a free and unregulated way. LocalBitcoinCash allows you to buy Bitcoin Cash via euro, dollar, pound and ruble, so we are talking about a platform rather flexible from the point of view of accepted currencies.
How to Buy Bitcoin Cash Through VirWox
Finally, another useful method for purchasing Bitcoin Cash with Paypal is represented by VirWox. We are talking about a tool that is not very well known if only because of its complexity; a complexity that in fact relegates its use only to a small circle of people who not only know the industry well, but who are also ready to accept quite important commissions. Until not so long ago VirWox represented the “financial center” of Second Life, so much so that inside you will notice how you can also buy the currency of Second Life (SLL)!
To use this method, launch VirWox and deposit money on your account via Paypal. At this point use the euros at your disposal to buy SLLs and buy Bitcoin with SLLs by first viewing the exchange rate imposed by the platform. You are now ready to transfer your Bitcoins to a third party exchange, and on this exchange you will have the opportunity to convert your Bitcoins into Bitcoin Cash.
VirWox, as you may have understood, assumes a process a bit ‘cumbersome and, remember, even uneconomical. Don’t forget that the platform in question requires a commission of 3.4% on the amount deposited, as well as the commissions of the miners (which will allow you to transfer Bitcoin on the target exchange). And last but not least, the commissions related to the purchase of Bitcoin Cash.
From the moment Paypal provides very clear costs and management times, it would be good to try to optimize your trading experience with cryptocurrencies as much as possible. This means that choosing in advance the way you will trade, the amount of your deposit and the frequency with which you will trade (which will also affect the frequency with which you will deposit and withdraw money), is essential to minimize costs.