This easy-to-understand guide will walk you through on how to buy bitcoins with Paypal in the Philippines.
Step 1: Knowing the Pros and Cons. Buying bitcoin could be done easily and quickly through Paypal. BTC transactions cannot be reversed, while chargeback is available in PayPal. This makes it relatively safe for someone to buy bitcoin with PayPal because buyers can file a complaint stating that he or she did not receive the bitcoin (goods) and ask for a refund. The disadvantages, however, may include the limited options in the country with regard to the platform that allows this mode of payment, and that the transaction involved a complex process.
Step 2: Find A BTC Exchanges Website that Accepts Paypal Payments. At the moment, there are limited BTC platforms available in the Philippines that accept Paypal payment. These are the following:
(a) LocalBitcoins and Paxful. Buying bitcoin can be made through peer-to-peer with PayPal. The limit per transaction is usually set by the seller.
(b) xCoins. Use PayPal to buy up to 49955PHP in bitcoin per transaction.
(c) VirWox. Use PayPal to buy up to 59361PHP in bitcoin per 24 hours, up to 593950PHP per month. Click here to see the process.
If you have decided to continue in investing to bitcoin in the Philippines, read the next guide on how to invest in bitcoin which will give you wise and concise ‘how to’.