Get Into Ethereum With PayPal
Attention: The method in this guide is no longer working as VirWox has permanently closed its business on January 6, 2020.
In this small guide you will learn how you can use your PayPal balance to get into Ethereum. I see this question often asked in different cryptocurrency related communities and this inspired me to write this article. The main problem is that there is no direct way to increase your Ether balance with PayPal, however, there is a direct way to get Bitcoins with PayPal. Read my article where I explain how to get Bitcoin with PayPal and you might get an idea why this is helpful. We need to know how this works, because as soon as we own Bitcoin, we can convert them to Ethereum (Ether, ETH currency) on most of the cryptocurrency trading exchanges. So, let us sort this a bit better now, but don’t forget to read my article fully because there are some things you need to know…
- Learn how to purchase Bitcoins with PayPal via VirWox
- Read the About VirWox page carefully, especially the sections about fees and limits
- Purchase Bitcoins through VirWox
- Make an account on any cryptocurrency exchange where you can convert from Bitcoin to Ether/ETH currency (for example Bitfinex, or any exchange of choice)
I can’t stress this enough, read the About VirWox page carefully. They’ve been around since a very long time, and I use them since almost a decade because they started their service as an exchange for virtual world currencies first. However, it must be said that when you use them, their fees are horrible. It really adds up, but in my Bitcoin via PayPal article I go into detail why they are doing this, it’s simply because they have a (chargeback) risk too when they offer you PayPal as payment method. If you get regular payments via PayPal, for example because you do freelancing or because you have a regular online income, you might not care a lot about the fees, especially because the conversion to Bitcoin will be instant there. Since it is often asked how to get into Ethereum via PayPal, I wanted to write this article and I hope it was helpful.