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How to buy bitcoins with PayPal

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Buy bitcoins using paypal

Understanding the steps required to Buy Bitcoins using PayPal

The cryptocurrencies have ever been increasing in its value for a very long time. When Bitcoin reached a staggering 19,000 dollars in December 2017, the whole world was in a state of shock on seeing such a widespread adoption of Bitcoin. Since then everyone from all over the world is looking forward for an opportunity to invest in Bitcoins. With the increased regulations all over the world, it has been a difficult task to buy Bitcoins for any normal people hence alternative ways have been reported out to help such people. Cryptocurrencies can be bought by registering oneself on any particular cryptocurrency exchange or by using PayPal.

PayPal doesn’t directly allow you to buy Bitcoins after it experienced a number of scams in the name of chargeback but allows it through the other platforms available.

 

Buy Bitcoins using PayPal on Virwox

This particular platform charges huge amount of transaction fees but the plus point of this is, that, it has been one of the most reliable places to buy Bitcoin. The Virtual World Exchange allows you to buy Bitcoins when no other traditional cryptocurrency exchange allows it through PayPal due to the chargeback issues related with PayPal. The virtual cryptocurrency exchange uses a virtual currency named SLL (Second Life Linden Dollars). It is one of the prominently used virtual currency in one of the biggest virtual world today, Second Life. Bitcoin is bought on this particular platform through this particular virtual currency.

The users first need to buy these virtual currencies through their PayPal account and then in turn by using this virtual currency one can buy Bitcoins.

Before undertaking any of the above-mentioned transactions the users need to visit the website and register themselves on the virtual exchange. The registration process is very easy, one can register themselves by entering the personal details.

  • Once all the personal details are filled username and password is sent to the respective email ID.
  • The users can then login into the account by using this particular user id and password and it is highly preferred that the user changes their password when he or she logins for the first time.
  • After logging in into your account, next thing that one must need to do is to fund their account through PayPal with US dollars.
  • After funding one’s account, one must need to use their US dollars fund, in their account in order to buy the SLL by clicking USD/SLL.
  • Once the SLL is deposited into one’s account, by clicking on SSL/BTC one can buy Bitcoins by using their SSL deposit.
  • This particular step of buying Bitcoins with their virtual currency can take up to two days since the company exclusively verifies all the details. After which, one has Bitcoin into their account.
  • These Bitcoins can be transferred to their personal wallet by clicking on the withdraw button and by entering their Bitcoin wallet address.

In this process of buying Bitcoins, 2 intermediary transactions took place, one was, buying the virtual world currency by using the US dollars and another one by using the virtual world currency to buy the Bitcoins. The transaction fee structure keeps changing for each and every kind of transactions which can be checked out on this website here.

 

Buy Bitcoins using Paypal through Paxful

This service incorporates high transaction exchange rates but has a wide variety of sellers to choose from all over the world. Paxful is basically nothing but a peer-to-peer Marketplace which allows the users to purchase Bitcoins in exchange for almost anything.  The fact that this service is a smaller version of LocalBitcoins is not very much known to people.

 

The steps involved in the purchase of Bitcoin are as follows.

  1. Creation of the account on the website.
  2. Enter the desired amount and also choose the payment method which is required, suitably.
  3. Choose the preferred seller of your choice. Here is a provision is provided that Paxful will suitably choose the best seller of your requirements.
  4. Once the trading is fixed with a particular seller, the user is redirected to an online chatbox with the seller, where the deal can be confirmed.
  5. After the deal is completely finalized, the sellers’ Bitcoins are sent to an escrow account. It is sent to the user only when he confirms his payment. A window of 30 minutes is provided for this process, after which, usually the transaction automatically gets canceled.

A number of other methods are also available in order to Buy Bitcoins using PayPal.

#Exchange

Mt Gox: Has the time come when Mt.Gox Creditors will be paid?

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As reported by the Mt Gox trustee, They still have 141,000 BTC and 142,000 BCH and the trustee seems to be taking charge to return the funds to the victims.

The small cryptocurrency community back then was in shock when the biggest bitcoin exchange Mt Gox (at that time) was hacked and around 850,000 BTC were stolen which were worth around $450 million back then and around $3.4 billion according to today’s price. Years have passed since the incident, however, only a few the victims have received their share and most of them are still waiting for their lost funds.

 

Mt Gox to credit victims?

As reported by Nobuaki Kobayashi, the Mt Gox trustee, Mt Gox still has more than 141,000 Bitcoin and 142,000 Bitcoin Cash and the trustee seems to be taking charge to return the following funds to the victims. The victims were super excited to hear this and Twitter seems to be full of tweets claiming that the exchange has finally made its decision of returning the lost funds to the victims.


However, it is worth noting that Mt Gox might have more than $631 million worth of Bitcoin and Bitcoin Cash, the number of funds to be compensated are likely much more than this amount. The other documents on the website claim that the victims shall be sent a notification regarding the approval or disapproval of their claims based upon their type of filing (online or email).

 

Nobuaki Kobayashi said that after a few days, the Rehabilitation Trustee of Mt Gox will be announcing the results of the claims filed by the victims. The result will showcase whether or not their claims have been accepted.

 

Missed the deadline?

If you are one of the victims and you’ve somehow missed submitting your claim, you can still download the claim form from the Mt Gox website. However, if these claims made after the deadline shall be accepted for refunds will be decided by the court.

 

Is there any timeline for the claims?

According to Nobuaki Kobayashi. he will contact the victims soon. So there is no specific timeline as to when the funds will return to the victims. However, it is still great news for the people who have been waiting for over 5 years and they are surely happy about the fact that they will soon be compensated.

 

Cryptocurrency investors are now wondering how will this affect the bitcoin price? What do you think? Tell us in the comments section below.

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#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

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The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.

 

Bitcoin:

BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.

 

Altcoins:

ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).

 

The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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#Bitcoin Price Analysis

Bitcoin Price to $4500 soon? BTC Price Analysis

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Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance at $4200.

Technical Indicators:

Support Level: $3900

Resistance Levels: $4100, $4200

 

Bitcoin Price Analysis:

On the hourly chart, bitcoin price has been quite bullish since last week when it reached a high point of $4160. However, bitcoin was not able to break through the resistance around this range. Again bitcoin started a bullish momentum on 18th March and reached up to $4120 before but started to correct downwards later. It went below $4000 support level.

Bitcoin price moved above $4000 yesterday and currently trading around $4100. The buyers are trying again to break through the strong resistance that is formed between $4100 and $4200. If the current resistance is broken, there are chances that bitcoin could spike up to $4500 in the short term. The current momentum surely signals a ‘buy’ time. However, if bitcoin is not able to break through this resistance for long, it could result in BTC price falling back below $4000 and even $3900 range and turn bearish.

BTCUSD Hourly Chart

BTCUSD Hourly Chart

Last week, bitcoin tested the $4200 resistance but failed to break through. The sellers pushed the price down to $3832. Later, buyers were able to start a fresh bullish momentum and moved the price above the 12-day exponential moving average which was turned into support. Bitcoin moved above $4000 and the buyers are currently moving ahead to fight the sellers at $4200 resistance level.

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