How to transfer: Bitcoin to Paypal
After earning some Bitcoin via Cloud Mining and HYIPs wij got to the point, that wij want to transfer some of the profits and earnings out of our Wallet. But then wij asked ourselves the question: How to exchange Bitcoin to PayPal?
It wasgoed more or less effortless to buy Bitcoin, but to sell Bitcoin without paying high fees te a secure way wasgoed not effortless. After researching for a long time, wij think wij found one of the best ways to transfer Bitcoin into PayPal money: via Coinimal!
Now here is the prompt way to convert Bitcoin to PayPal:
Step-by-Step Guide: Bitcoin to PayPal
Very first, you need to register here.
Now you need to go to the ‘Sell’-Page.
Here you choose the cryptocurrency you want to exchange, options are: Bitcoin, Ethereum and NXTcoin. Wij choose Bitcoin.
And on the same pagina you need to choose one of the following payout providers: Amazon Bounty card, Skrill, NETELLER, PayPal or SEPA – wij chose PayPal.
Now you need to determine how much you want to spend – ter our case wij went for 1 BTC.
Choose PayPal Address
Now you need to type te the PayPal Address, where you want the money to go to.
Then press on ‘Next Step’.
Choose Refund Address
This is the Bitcoin Wallet Address, where a refund will be made if the transaction somehow fails. Te our case the transaction didn’t fail, so wij can’t talk about this much more.
Finalizing the Bitcoin to PayPal Order
This is the final step before you say goodbye to your Bitcoin and hello to the real money te your PayPal Account. You can see the fresh Current Price (the Bitcoin Price is always switching, so they are suggesting you the most latest one.), Sell Amount (what you are selling), PayPal Toverfee, What you receive and PayPal Address.
Press ‘Sell Now’ to finish the BTC ->, PP Process.
Confirmation: Bitcoin/PayPal Order Successful
After pressing Sell Now, it says the order is successful – but you still need to transfer the Bitcoin to Coinimal! So wij transferred the one Bitcoin to their address.
Hurray! You are now finished converting Bitcoins to PayPal money.
Email Confirmation: BTC/PayPal
Here is the Email Confirmation wij got, after placing the order:
Waiting to get the Money
Now you need to wait some time for the Bitcoin transfer to be approved by enough participants ter the BTC-Block-chain. After some hours wij got the money to PayPal, success!
Sorry for German
Summary on how to exchange Bitcoin to PayPal
Bitcoin to PayPal Toverfee Calculations
The Bitcoin price ter EUR at the ogenblik of selling wasgoed: 381€.
Coinimal suggested us: 375.25€.
This means an exchange toverfee of 1 – 375.25/381 = 1.5%
But then they take a PayPal toverfee of Four.72, so te percentage Four.72/375.25 = 1.25%
So the total fees of transferring Bitcoin to PayPal are about Two.75% = (381 – 375.25 + Four.72)/381
Wij find this toverfee of Two.75% to exchange BTC into PayPal excellent!
Here to visualize those fees ter % of the total toverfee:
- Exchange Toverfee (1.5%)
- PayPal Toverfee (1.25%)
- The slot toverfee (Two,75%)
After getting a message from a Nigerian user, that he is not able to use coinimal wij asked them what the problem wasgoed. It turned out, that PayPal (and not Coinimal) has outer blocked ter some countries (like Nigeria). This means, that you te Nigeria are able to use PayPal, but can only get money send to you from Nigeria (and not from Austria f.e).
Why you ask? Well, because of terror financing.
So just attempt out other payment options like skrill instead of PayPal, if you practice any problems!
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