How to Buy Bitcoin & Cryptocurrency on PayPal

Everybody knows by now you can buy and sell cryptocurrency on paypal, but what does this mean for crypto at large? Is this good for new investors we're going to talk about that today?

I'M also going to do a quick tutorial on how you do it. How do you buy bitcoin or other cryptocurrencies on paypal if you've never done it before?

Well, i'll, show you how today, and it's actually easier than you think, let's get it welcome to bitboy crypto. My name is ben every day on this channel. I show you how to make money in cryptocurrency if you like money, make sure to go ahead and hit that subscribe.

Button become a member of the bit squad 142k. Subscribers not too shabby also, if you're, watching this video, because it's a tutorial and you really want to know how to buy bitcoin at crypto, but you're super new super fresh uh. You guys can check out crypto4dudes.com. That'S with the number four here you can find.

My beginners crypto course called the regular guys guide to crypto where j chains - and i lay out to you - guys some of the very simple basic concepts that you're going to have to know if you're going to be able to make that life changing money.

So guys. Let'S head on over here to paypal, so i actually created an account recently, a personal account because i only had business accounts uh. So i could try this out and it's pretty easy to do. You guys can see my recent activity over here uh, it's showing up.

My bitcoin purchases and my ethereum purchase that i made notice it doesn't separate out crypto um. It basically just says recent activity and has it all listed over here. I think this is important that combined with the fact when you look at this, you see paypal, balance.

Crypto right underneath it, this is not something the paypal is going to be debuting, not putting a lot of attention. They have seen what square has done. Cash app has done and they want a piece of that.

Crypto and bitcoin aims to be a major part of the paypal business from now on. I definitely believe that for 100 percent, so on our summary page, you guys see the your crypto box, what we're going to do, we're going to click, buy and sell, and this is going to take us to what i call the portfolio page.

This shows you what crypto you have right now, there's only four possibilities: bitcoin ethereum bitcoin cash and litecoin uh bitcoin. The original cryptocurrency started in 2009 by satoshi nakamoto in in response to the 2008 financial crisis.

Aetherium bitcoin cash and litecoin are all altcoins. How do you know something is an altcoin? It'S not bitcoin! It'S pretty simple. Bitcoin rules, the market, it's about 65 of the overall crypto market right now. Every other coin is called an altcoin uh. So right now you guys can see. I have 39.93 in bitcoin and 19.93 uh in ethereum.

If you own a cryptocurrency on paypal, it's going to show up on this side up here, uh, if you don't it's going to show up down here now. These are three really respectable.

All coins they've all been consistently in the top 10 of cryptocurrencies since they debuted so right now. What we're gon na do. I'M gon na show you how to buy bitcoin. Now before we actually move on to buy bitcoin, they have to learn more about crypto section.

This is pretty cool, they're, very quick reads: five minutes, one minute, three minute: five minutes and it goes on from there. I think, there's about 12 or 13 of them. Let'S actually count them. I think it's 12

Man, my county is good. It'S 12 Uh it talks about what's crypto a frequently asked questions page how to get started. It talks about the differences between all the coins.

Uh volatility, crypto versus donks uh, there's a glossary because i tell you, if you're not in the crypto culture, it's really easy to get mixed up with what people are talking about and, of course, you're definitely going to want to know what blockchain is the underwriting technology Of cryptocurrency, or at least most cryptocurrencies, don't worry about what i just said there that might take you down a rabbit hole.

So here we are, let's go ahead and click buy and you can see it shows a chart bitcoin's down about 2.39 percent today, not too great. We know we don't like to see that for our portfolios, we'd like to see it when we're getting ready to buy so definitely pretty cool um.

So right now, uh the charts are broken down default by the last 24 hours. So this is the last day of action. You can also check out the last chart or the chart from the last week from the last month, six months one year and the all-time chart, you guys can see where we're heading to up here, all-time highs, gonna be in the next couple of months.

I do firmly believe so, once you've looked at the chart, you decide which one you want to buy, you just click buy and then you hit the amount, let's say: uh, let's go crazy. I'M gonna buy a hundred dollars worth of bitcoin here's my debit card. Four two: eight five, that's the last four digits. If anyone can steal money from my bank account uh with the last four digits of my debit card, i will buy you a milkshake all right, so, let's hit next.

This is the review page. It shows you uh what card you're purchasing with shows you how much you're buying we're buying .006 btc uh bitcoin can be broken down into 10 million parts uh something or 100 million parts.

Excuse me uh the price per bitcoin, fifteen thousand eight hundred eighty seven dollars the price us dollars of one hundred dollars and then what i actually pay. No transaction fees - there's no transaction fees with bitcoin on paypal for the rest of this year, but be careful if you think you're going to come on here, buy a bunch of bitcoin for no transaction fees and then leave and do something else with it.

You got another thing coming uh we're gon na explain that here in just a second, so i click buy now and boom it pops up at the top shows us how much we bought. We go back to our portfolio here. It is 139.92 worth of bitcoin. In my wallet now, what am i going to do with this bitcoin? Well, that's! What a lot of people are upset about, because, right now you can't do anything with it.

You'Re, currently not able to send crypto assets to friends or family use, crypto assets to pay for goods or services, or withdraw crypto assets from your cryptocurrencies hub to an external cryptocurrency wallet. This is kind of like the training wheels if you're new to crypto and you you want to learn how to buy bitcoin.

You want to learn how to buy all coins on paypal. That'S fine! I welcome that, but it needs to be like riding a bike with training wheels. You'Re not gon na be able to do much with your crypto when you have it on a service like paypal, that's not allowing you to withdraw it to other wallets.

That means you'll. Never be able to trade, it you're, not actually in possession of your own private keys in crypto. We call that not your keys, not your crypto, if you're, not in possession of the backend password to your wallet where you can actually move the bitcoin.

Is it really yours and that's a fundamental and philosophical question that a lot of people in crypto have about the way that paypal has done things, but just like a training, a bike with training wheels you work up to ride on your own, so learn about exchanges Like coinbase uh or finance us or kucoin, those are places to start learning how to exchange cryptocurrency, uh learning how to send cryptocurrency back and forth uh and then from there who knows maybe you'll end up on a decentralized exchange one day which can kind of get Crazy.

So let's take it baby steps at a time if you're gon na buy on paypal, it's okay, i'm not gon na criticize you, i think what they're doing overall is gon na, be beneficial to the entire crypto space, but the way that they store it and The way you don't own your own bitcoin, when you're buying through paypal uh, it is not the optimal way. So you got ta, try to figure out. Do your own research and learn what that optimal way is alright, guys, that's all i got be blessed. You