I've tried looking for a simple solution for buying Bitcoins or litecoins with Paypal or a credit card but it seems that all of the places around are accepting only wire transfers. Is this logical ? How come no one credible allows you to buy Bitcoin without waiting 10 days for a wire transfer ?
Asked
Active
Viewed 642 times
1 Answers
6
I've actually already talked about this on StackExchange but here we go again :) There's a barrier when you try to purchase Bitcoins, Litecoins or any other crypto currency for that matter with a form of payment that allows chargeback (i.e. Paypal or a credit card). Take a look at Paypal's TOS section 3.7.
You can still use VirWox to buy Second Life Lindens (SLL) with Paypal or a credit card and then trade these Lindens to BTC. It will cost you though, there are fees of around %6-8 since you are using 2 different exchanges. The full process is shown step by step here.
If you don't want to pay the fees and just want to make a profit out of the currency's volatility you can trade CDFs (Contract for Difference) - these are easily bought with Paypal or a credit card and are available for Bitcoin and Litecoin as well. Keep in mind that when you trade CFDs you're putting your capital at risk and that it's usually more suitable for experienced trader.
One final option is actually buying the coins on Ebay but there will be a premium price there since the sellers have to protect themselves from chargebacks.
BTC_Hamster
- 186