If you share a part in the Ethereum market, PayPal can be a good friend for you to exchange your cryptocurrency for cash. But how to exchange Ether for cash without having to go through any bank transfers and KYC processes? Well, Id you don’t want to go through those frustrating process and wait for hours for exchanges to approve your submitted documents for KYC, exchanging your cryptocurrency to PayPal or any other e-currencies is a good way out for you. Continue reading to learn how to exchange Ether to PayPal quickly and safely.
What is Ethereum?
Ethereum, launched in 2015, is a blockchain-based, decentralized, and open-source software platform that is employed for Ether, its own dedicated cryptocurrency. Ethereum allows Smart Contracts and Distributed Applications to be developed and operate without any downtime, fraud, control, or intrusion from a third party.
Ethereum is not only a platform but also a programming language (Turing complete) operating on a blockchain, assisting developers in developing and publishing distributed applications.
Bitcoin vs. Ethereum
Ether (ETH), the Ethereum network’s cryptocurrency, is probably the second most popular digital token after Bitcoin (BTC). Indeed, as the second largest cryptocurrency by market cap, comparison between Ether and BTC is only natural.
In many ways, Ether and Bitcoin are similar: each is a digital currency traded via online exchanges and stored in different types of wallets for cryptocurrency. These tokens are both decentralized, meaning they are not issued or controlled by a central bank or any other authority. Both of the cryptocurrencies make use of the distributed ledger technology known as blockchain. However, by market cap, there are also many crucial differences between the two most common cryptocurrencies. Let’s take a closer look below at the similarities and differences between Ether and Bitcoin:
- The emergence of a radically new form of digital money that operates outside the control of any government or company was signaled by Bitcoin.
- With time, individuals began to realize that one of bitcoin’s underlying innovations, the blockchain, could be used for other purposes.
- Not only for maintaining a decentralized payment network, but also for storing computer code that can be used to power tamper-proof decentralized financial contracts and applications, Ethereum proposed to use blockchain technology.
- Applications and contracts of Ethereum are powered by ether, the currency of the Ethereum network.
- Ether was designed to complement Bitcoin rather than competing with it, but on cryptocurrency exchanges it has nonetheless emerged as a competitor.
What is PayPal?
PayPal is a digital payment service that can be used by customers while they shop online. PayPal stores payment information, such as bank account or credit card numbers, so that every time they buy something, customers do not have to type the numbers out. PayPal also hides from companies this financial information, adding a layer of security to online shopping. PayPal payments can be incorporated into online checkout process by small companies and similarly by large corporations.
Why exchange Ethereum to PayPal?
Well, how and what to exchange your Ether for is a personal choice, anyways, most of the time, in order to be able to enjoy your cryptocurrency investments and revenue, you are required to exchange your digital currencies for a more traditional money. PayPal is, however, recommended as a safe option that you can use to keep your money and Ether revenue safe and possibly end up paying less tax. In case you are interested in learning more on how tax applies to PayPal, read our Exchange Your Cryptocurrency to PayPal: Crypto Exchanging Made Easy article.
Moreover, when you are exchanging Ether to PayPal, you are basically conducting an exchange process that is entirely digital and requires a short amount of your time. You need to find an exchange agent with a reliable process and the least amount of commission.
Here at Hi Exchange, with the best rates available on the market, we offer you trustworthy exchange services in the shortest time possible. Plus, at Hi Exchange, there is no KYC required and the best part is that you will have transferred the exact market price of Ether to your PayPal account.
How to Exchange Ether to PayPal?
The best part about exchanging Ether to PayPal on hi.exchange is that you will not be asked to sign up at hi.exchange, prior to performing any sort of exchange. Signing up is only required for the exchange of large quantities.
After entering the homepage, you will select Ether and PayPal (Dollar or Euro) from currency pairs in the first stage and input the amount you are willing to exchange, then the amount of your destination currency will automatically be calculated.
Press Exchange and you will be forwarded to the next stage where you will enter your PayPal Account details, email, and phone number.
Once again, press exchange, and you are taken to the next level where you are asked to review your order.
Pass the captcha test then press exchange to go to the next stage where you will obtain a tracking ID, an address, and an Explorer URL. Ether needs to be transferred to the wallet specified in the method. After you have transferred your Ether to hi.exchange, you will click the “I’ve Paid” button and you can track the status of your exchange Ether to PayPal order. After your payment is confirmed, you will receive cash in your PayPal account.
In case of any questions and problems, you can always refer to our help via WhatsApp, Telegram, Email, Skype, Contact Form, and Live Chat in the bottom right corner of the screen.
Image Rights: katemangostar