Bitcoin is a digital currency that has become increasingly popular in recent years. It is a decentralized currency that can be used to make online purchases, transfer funds, and even pay for goods and services in the physical world. PayPal, on the other hand, is an online payment platform that allows users to make payments and send money to other users.
Many people wonder if it is possible to send out bitcoin from PayPal. The answer is yes, it is possible, but it requires a few steps. In this article, we will explain how to send out bitcoin from PayPal.
Step 1: Open a Bitcoin Wallet
The first step to sending bitcoin from PayPal is to open a Bitcoin wallet. A Bitcoin wallet is a digital wallet that stores your bitcoins. There are many different types of Bitcoin wallets available, but the most popular ones are online wallets or mobile wallets.
Online wallets are web-based wallets that can be accessed from any device that has an internet connection. Mobile wallets, on the other hand, are apps that can be downloaded and installed on your smartphone or tablet.
Before opening a Bitcoin wallet, it is important to research the different types of wallets available and choose one that suits your needs.
Step 2: Link Your Bitcoin Wallet to PayPal
Once you have opened a Bitcoin wallet, the next step is to link it to your PayPal account. To do this, you will need to log in to your PayPal account and click on the ‘Link a Card or Bank’ option.
From here, select the ‘Link a New Card’ option and enter the details of your Bitcoin wallet. Once you have entered the details, PayPal will verify the information and link your Bitcoin wallet to your PayPal account.
Step 3: Transfer Bitcoin to Your PayPal Account
After linking your Bitcoin wallet to your PayPal account, the next step is to transfer bitcoin to your PayPal account. To do this, you will need to navigate to the ‘Transfer to Bank’ option on your PayPal account.
From here, select the ‘Add Money’ option and enter the amount of bitcoin that you wish to transfer to your PayPal account. Once you have entered the amount, click on the ‘Continue’ button and wait for the transaction to complete.
Step 4: Send Bitcoin from PayPal
Now that you have transferred bitcoin to your PayPal account, the final step is to send it to another user. To do this, you will need to navigate to the ‘Send & Request’ option on your PayPal account.
From here, select the ‘Send’ option and enter the details of the person you wish to send the bitcoin to. Once you have entered the details, enter the amount of bitcoin that you wish to send and click on the ‘Send’ button.
Conclusion
Sending bitcoin from PayPal is a relatively simple process that requires a few steps. The first step is to open a Bitcoin wallet, followed by linking it to your PayPal account. Once you have linked your Bitcoin wallet to your PayPal account, you can transfer bitcoin to your PayPal account and then send it to another user. It is important to remember that there may be fees associated with sending bitcoin from PayPal, so it is important to research these fees before proceeding with the transaction.