Bitcoin Cash (BCH) is a hard fork of Bitcoin. Bitcoin Cash was born on August 1, 2017, as a result of some miners forking away from the main protocol. The decision to fork away from the main protocol was to tackle Bitcoin’s scalability issues. Increasing the block size from 1 MB to 8 MB enabled Bitcoin Cash (BCH) to be faster, cheaper, and more scalable.
We will not dive deep into how Bitcoin Cash (BCH) works. Instead, we will look at some of the ways to obtain Bitcoin Cash (BCH). From the myriad of ways to buy Bitcoin Cash (BCH), we will specifically look at the best ways to buy Bitcoin Cash (BCH) with PayPal.
So here are the best ways to buy Bitcoin Cash (BCH) with PayPal:
Local.Bitcoin (not to be confused with LocalBitcoins) is a peer-to-peer exchange for Bitcoin Cash (BCH). This service enables you to buy Bitcoin Cash (BCH) directly from other users. PayPal is one of the supported payment methods at Local.Bitcoins.
If you choose to buy Bitcoin Cash with PayPal at Local.Bitcoins, there are a few things you need to know. PayPal is one of the most expensive ways to buy Bitcoin at Local.Bitcoins. The sellers that sell Bitcoin Cash for PayPal funds mark up the price of Bitcoin Cash (BCH) quite a bit. So the price of Bitcoin Cash at Local.Bitcoins can be much higher than the market price of Bitcoin Cash.
PayPal is one of the riskiest ways for someone to sell Bitcoin. This is because PayPal allows anyone to charge-back. But, since you are the buyer of Bitcoin Cash, there is 0 risk for you when using a peer-to-peer exchange like Local.Bitcoins. The majority of sellers that sell Bitcoin for PayPal, require your identification and other personal information. So, if you are to buy Bitcoin Cash with PayPal, be prepared to provide personal information.
After making the payment, it is important that you mark the payment as complete. The seller will verify and release Bitcoin Cash from escrow. If you get into a dispute, the Local.Bitcoins team will intervene.
Local.Bitcoins is supported in almost every country and it is one of the most private ways to buy Bitcoin Cash (BCH).
Use Other P2P Exchanges
Local.Bitcoin is not the only peer-to-peer exchange out there. There are many peer-to-peer exchanges for other cryptocurrencies. So all you have to do is buy cryptocurrency from one of these exchanges and then convert to Bitcoin Cash (BCH). Here are some of the best peer-to-peer exchanges:
- Paxful – Bitcoin P2P exchange
- LocalBitCoins – Bitcoin P2P exchange
- LocalMonero – Monero P2P exchange
- LocalCryptos – Ethereum P2P exchange
All P2P exchanges listed above support PayPal as a payment method. After you buy cryptocurrency from one of these exchanges, you can easily convert to Bitcoin Cash (BCH) using services like Binance or Changelly.
As with any P2P exchange, PayPal is one of the riskiest methods to sell cryptocurrency as a seller. And these sellers usually mark up prices of cryptocurrency they are selling. You can surf through all PayPal ads in all P2P exchanges and find the best rate.
Discord and Telegram Groups
Another way to buy Bitcoin Cash (BCH) with PayPal is to join Discord servers or Telegram groups that are predominantly cryptocurrency exchanges. You can look for Discord cryptocurrency exchanges here.
If you plan on buying Bitcoin Cash (BCH) from one of these groups, there are few things you need to know. Because of the risks associated with PayPal, these groups may not accept PayPal as a payment method. So, your options are limited.
If any of these groups sell Bitcoin or any other cryptocurrency for PayPal money, you could still buy any one of these cryptocurrencies and convert to Bitcoin Cash (BCH).
It is important to understand that if you choose this method of buying, you are essentially relying on the seller to send cryptocurrency to your wallet. Unlike P2P exchanges, these groups aren’t escrow services. So, there is always the possibility of seller scamming you. Now, you may wonder “how can the buyer get scammed. After all, the buyer is the one sending money through PayPal?”.
You are wrong. If it is a scam group, what they ask you to do is send money as “Friends and Family” and ask you to send it with PayPal balance. If you send money as “friends & family”, you are not able to charge-back. The seller can easily run away with your money and never send any bitcoin cash to your wallet.
If you are buying Bitcoin Cash (BCH) or any cryptocurrency with PayPal, do not ever send money as “Friends & Family”. Always send money as “goods & services”. You are only covered by PayPal buyers protection if you send money as “Goods & Services”.
eBay – Indirect Way
Although you cannot find sellers selling cryptocurrency on eBay, you can still utilize eBay to obtain Bitcoin Cash (BCH). The way you do that is by buying cloud mining contracts on eBay.
You can find so many sellers selling Bitcoin Cash (BCH) cloud mining contracts on eBay. A cloud mining contract works in such a way that a miner agrees to mine Bitcoin Cash (BCH) for a certain period of time and send the payout to your wallet. Depending on the conditions of the contract, it can last for a few hours or months. All you have to do is provide your Bitcoin Cash (BCH) wallet address and pool details. Sometimes, you do not even have to provide pool details because the seller joins a pool for you. If you want to find the best Bitcoin Cash pools, you can check out here.
To convert PayPal to Bitcoin Cash with eBay, all you have to do is buy one of these cloud mining contracts and pay with PayPal. By doing this, you are indirectly converting PayPal to Bitcoin Cash (BCH).
PayPal is one of the most expensive ways to buy Bitcoin Cash (BCH). This is because of the various risks associated with it. Nevertheless, above are some of the best ways to buy Bitcoin Cash (BCH) with PayPal.