Exchange cryptocurrency to PayPal is one of the highest demanding ways of cashing out crypto amongst traders. At this moment, PayPal itself, doesn’t allow users to swap their cryptocurrencies to PayPal USD or other currencies that are supported by their wallets. Therefore, those who are interested in such exchange, trade their assets with other people or trusted exchanges. The exchange process is usually fast and without major risks if the party who is transferring the money via PayPal is trusted. So, if you’re holding the crypto and want some PayPal in exchnage, it’s better to do the trade with someone who you trust. The other secure way is to do your crypto exchnage via trusted exchanges like Hi Exchange that you can read users’ feedback and experiences on websites like Trustpilot or OkChanger.
Here we’re trying to cover every issue regarding the exchnage of cryptocurrencies for PayPal and answer some frequent questions that might arise.
Why Exchange Your Crypto to PayPal?
When and how should you exchange your cryptocurrency?
How to transfer Your Crypto assets to PayPal?
Does PayPal accept Cryptocurrency?
Can I transfer money from Blockchain to PayPal?
Can you exchange Cryptocurrency to cash?
How to cash out Crypto without paying taxes?
Why is there an exchange rate for Cryptocurrency?
PayPal was founded in 1998 and is the biggest payment processor for online vendors. 10 years after that, Bitcoin came into existence. Clearly, PayPal is more widely accepted everywhere but Cryptocurrencies like Ripple, Tether, and other blockchain-based currencies are just opening their way into the world monetary system. Therefore, if you could exchange cryptocurrencies for PayPal currencies easier, as it is in HiExchange, then we can use them to make transactions all over the internet.
Cryptocurrencies are a new way of investing and trading in the world. On the other hand, PayPal is an alternative to conventional payment methods which is widely accepted by many merchants. The PayPal system helps internet users to obtain a protected electronic wallet that can be used internationally. Let’s learn how you can exchange cryptocurrency to PayPal for Euros, Dollars or whatever currency you might want.
Why Exchange Your Crypto to PayPal?
Let’s get our heads straight first, Why in the world would you want to exchange your precious cryptocurrencies to another thing like PayPal USD? I thought about it many times, before writing this article or when I was selling my Ripples. To be honest, There are many reasons that could make you think of it. Many of you, at last, need to exchange your coins to a form of money that the traditional world might accept for your daily shopping.
But when and how should you exchange your cryptocurrency?
Always try to pick the right timing for converting your assets. When Exchange currencies to PayPal, and more precisely cryptocurrencies, Keep in mind that the perfect time is not the same for everyone: swap your Bitcoins for cash when the exchange rate is profitable for you. By keeping an eye on the volatility of digital currencies, you will be able to determine when is the most favorable time to convert your cryptocurrency.
It’s a good idea to convert your cryptocurrency to Stable Coins, the most common one being Tether (USDT), When you want to stay in profit and don’t pull your assets out of the market at the same time. Tether is the most secure solution in such cases as the value of this crypto represents the US dollar (USD) value. In a simpler word, 1 Tether, trades at around $1. That’s what makes this crypto safe dollar replacement to avoid price volatility. You can also do this transaction using HiExchange services and in addition to get a best value possible for your coins, you don’t need to go through tiresome KYC process like other exchanges.
Please note, however, that even though Tether promises to back 1:1 dollars in a bank account, nothing is 100% guaranteed. This digital cryptocurrency can also drop without warning from one day to the next. Therefore, we advise you not to place all your eggs in one basket and diversify the use of your cryptos.
You must have dreamed about using your cryptocurrency for regular shopping, if you are a Bitcoin user. So here is another great explanation why crypto coins are converted into Euros or Dollars. And the great thing is that now you know how to do it in the shortest time possible.
How to transfer Your Crypto assets to PayPal?
If you are after a trustee platform to exchange cryptocurrency to PayPal, your wait is over! We here at Hi Exchange offer you competitive exchange rates, quick processes, and 24/7 support!
There is only one step before you start exchanging your cryptocurrencies on HiExchange: Entering the website homepage. We won’t ask you to sign up or log in to your account. Below you can read the simple steps you need to take to exchange cryptocurrency to PayPal:
- Pick the cryptocurrency of your choice from the box on the left and PayPal on the right
- Enter the cryptocurrency amount you want to exchange to PayPal and behold the most competitive exchange rates from cryptocurrency to PayPal!
- Continue by clicking “Exchange” and enter your PayPal details, email address, and phone number
- Once again, press exchange, and you are taken to the next level where you are asked to review your order
- Obtain a tracking ID, an address, and an Explorer URL
- At this stage we ask you to read the instruction carefully. Please do read them carefully! it’s important and guides you on how to finalize the transaction. Besides, we would love to have you a little bit more on our website 🙂
- Transfer your crypto to the Hi Exchange wallet provided for you
- Click on the “I’ve Paid” button, sit back and enjoy the money that soon will be in your PayPal account
There’s only one step before start exchanging your cryptocurrencies on HiExchange, Entering the website homepage. We don’t ask you to sign up or login to your account. Just use the box dedicated on the homepage, select the cryptocurrency you want to exchange on the left and select PayPal or any other currencies you want to receive on the right box.
You might wan to see this:
How to Exchange Bitcoin for PayPal
Does PayPal accept Cryptocurrency?
PayPal Holdings Inc. joined the cryptocurrency market in October 2020 enabling its customers to purchase, sell, and hold bitcoin and other virtual coins using the online wallets of the U.S. digital payment company.
The more surprising news is that starting in early 2021, PayPal customers are also going to be able to use cryptocurrencies to spend at 26 million merchants on their network.
What Cryptocurrencies does PayPal support?
PayPal customers in the US (except those from HI) are now able to buy, sell, and hold four different Cryptocurrencies on their PayPal account: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
Can I transfer money from Blockchain to PayPal?
Well at the moment, you cannot use cryptocurrencies as a method of paying or sending money on PayPal. However, the good news is that you can use hi.exchange to exchange cryptocurrency to PayPal in a matter of minutes. Read our Step By Step Guide on How to exchange cryptocurrency to PayPal.
Can you exchange Cryptocurrency to cash?
For internet people like us, converting cryptocurrency to cash can easily be done through PayPal. This method allows you to exchange your cryptocurrency to Cash with the least commission possible and in just a few simple steps. After that, your cryptocurrency is converted to mainstream currencies and will be available in your PayPal account.
I myself like to keep my cryptocurrency exchange money in my PayPal account, this way, I have a more clear understanding of how much my crypto money is worth. Plus I can pay via PayPal itself or even cash the money out into my bank account.
Can I buy Cryptocurrency Using PayPal?
Unfortunately this Direction is still not supported through Hi Exchange but you can buy Bitcoin and other cryptocurrencies with Perfect Money or Skrill.
How to cash out Crypto without paying taxes?
Well if you are after cashing out your cryptocurrencies without paying tax, then we are on the same page. In the US, PayPal is ordered by the Internal Revenue Service (IRS) to provide the IRS with information on certain customers who receive payments for the sale of goods or services via PayPal.
To be more exact, PayPal is required to report gross payments received by sellers receiving more than $20,000 in gross payment volume and more than 200 separate payments in a calendar year.
With that in mind, you can use your PayPal account to cash out your cryptocurrencies. Given that your revenue is less than $20,000 and your transactions are fewer than 200 on each account, you can easily cash out your crypto without paying taxes.
Will PayPal cover fraud losses on its Cryptocurrency service?
As a section of PayPal’s responsibility for protecting its users, PayPal will not hold customers responsible for purchases or sales made by Cryptocurrency as a result of unauthorized activity in their accounts.
PayPal will not cover losses from Cryptocurrency price fluctuations and it is recommended that customers ensure their Cryptocurrency purchase is appropriate for their individual financial situations. Since purchases and sales of cryptocurrency are not reversible, PayPal urges customers to do their research and make careful decisions.
Having said that, we here in hi.exchange recommend you to, first of all, make sure what kind of source you are acquiring your cryptocurrencies from. Also be mindful of where you store both your crypto wallet and your PayPal account details, in order to prevent fraud and identity theft. Lastly, I want to advise you to use trusted and legitimate agents to exchange your cryptocurrency to PayPal.
Why is there an exchange rate for Cryptocurrency?
Since Cryptocurrency is digital money, when you buy and sell it, you are essentially swapping one currency for another. The exchange rate tells you how much Cryptocurrency or dollars you will get in the swap and often refreshes because Cryptocurrency’s value is changing constantly.
HiExchange offers you the lowest cryptocurrency exchange rates. If you want to be informed of the latest market trends and exchange rates of cryptocurrencies, follow hi.exchange on Telegram and Instagram.
How to find a legitimate exchange agent?
Exchanging cryptocurrency can be a risky business if you are not mindful of the process. The very first step before performing any sort of cryptocurrency exchange is to make sure that you are using a legitimate exchange agent. But how to know if an exchange agent is legitimate? Well in my experience, there are a number of important aspects you need to check in any exchange agent:
- Reputation: The easiest way to find out about an exchange agent is to search through feedback from individual users and well-known business blogs. You can ask any questions you may have on forums like Quora, BitcoinTalk, or Reddit. To do a better analysis on how much you can trust an exchange you can also check websites like Trustpilot and OkChanger.
Check HiExchange TrustPilot reviews and HiExchange OkChanger profile.
- Trading fees: Most exchange agents always have information on their websites relating to fees. Make sure you understand the exchange deposit, transaction, and withdrawal fees before signing up. Fees usually vary significantly depending on the stock you are trading with.
- Payment Methods: What methods of payment are available on the exchange platform? Debit Card? Credit card? Wire Transfer through your bank account? With PayPal? Can you trade EUR for USD? If an exchange agent has limited payment options, then it may not be convenient for you to use it. You should be aware that buying a credit card cryptocurrency will always require you to verify your identity and usually come with a premium price as there is a higher chance of fraud and more transaction & processing fees. Similarly, because of the amount of time it takes for banks to process the transaction, buying cryptocurrency via wire transfer could even take longer.
- Verification Requirements: The vast majority of Bitcoin trading exchange agents in both the US and the UK need some form of ID verification in order to make deposits and withdrawals. Some exchange agents will make it possible to keep you anonymous. Although verification, which can take up to a few days, might seem like a pain, it protects the exchange agent against all kinds of scams and money laundering.
- Geographical Constraints: Certain unique user functions provided by exchange agents can only be accessed from certain countries. Ensure that the exchange agent you want to enter provides full access to all of the tools and features of the network in the country you are currently residing in.
- Exchange Rate: There are different rates on different exchange platforms. If you do your research well enough, you will be surprised at how much you can save. In some instances, it is not uncommon for rates to fluctuate up to 10% and even higher.
By considering all of the above-mentioned tips, you can easily distinguish a legitimate exchange agent from a fake one in a matter of minutes. We here at hi.exchange offer you various payment forms and competitive exchange rates for the cryptocurrency of your choice. If you have any questions or problems, refer to our support team via Telegram, WhatsApp, Live Chat, or other support methods provided.
