With the huge influx of newcomers there's been a lot asking me "how can I transfer my earned Steem to my Paypal account" and also the other way "how can I buy some Steem with my Paypal balance?".
First off I want to address that it's weird how few exchanges or other services offer this, half a year ago I had to search for a long time until I found one and in my search I ran into so many scam sites and other frauds, it was unbelieveable. Recently even this site that I've always used was down and I needed to urgently move some crypto into Paypal and used a site called Bitwol only to get scammed out of 0.02 BTC and the site went down shortly after.
Paypal is a really famous service for anyone that is new to cryptocurrencies. Before Twitch created their own token for tipping all streamers were using Paypal. With old middlemen services such as Paypal there are a lot of fees, probably not as bad as Bitcoin transactions today though. ;) The only service I know to this day that offers Bitcoin-Paypal and vice versa that works and won't steal your funds is called VirWox. Bear in mind that there will be fees using it as well.
You create an account just like on any other sites and once you log in this is what you'll be able to find:
The site uses Linded Dollars, a ingame currency in the popular game "Second life". It reminds me a little bit about Mt. Gox since that also started out with trading Magic the Gathering cards before it went on to accept Bitcoin and create an exchange about it. Hopefully though this site won't go down the same fate, but as always with exchanges and services, use them fast and don't store a lot of value on them.
So once you've sent Bitcoin to your account, you will have to Trade the Bitcoin for SLL in the BTC/SLL section and afterwards from SLL to USD. This is where the fees come in and why it may not be the cheapest method, its one of the few ones to this date. Unless you know people who want to do the service for you instead.
After having traded the SLL into USD you go to withdraw section and this will be displayed:
Once you have some funds on the account there will simply be a box where you can enter your Paypal address in and the funds will be sent to you usually withing a few minutes.
I am not sure about limits, I've used up to $200 max at once to trade and withdraw them to Paypal. It works good for small amounts if you ever need some money on Paypal while waiting for your favorite stores to accept Steem or have some funds on Paypal you haven't had any use for and would like to power up your account. :)
Let me know your experience with it if you end up using it and if you manage to figure out the exact fees, I haven't bothered to count since I haven't been using it for big transactions.
Thanks for this info. Definitely something to check out.
I been using this for few months... Fees are getting higher and higher, wish i could find another way, but this is the easiest and safest way so far... Also hope they could take litecoin or something, BTC fees are getting just way to high, and you can max buy 400$ worth of BTC, you end up getting 350$...
Its not worthy for small amounts anymore... Last time i spent 140$ paypal, and i only got around 95$ worth of BTC...
Use Coinpot. Sell Steem/SBD to DOGE and convert it to BTC at Coinpot first. 🙂
WOW! Is Dogecoin still a thing??
Yes, I heard in Australia they can transfer DOGE to bank account. 😊
Visit @webcoop's blog 👍
Can i buy crypto with paypal there?
Sorry Nope. I tried #Paxful once but you must be very careful there because there are sellers who sell "over priced".
You can use https://anycoindirect.eu/ to sell DOGE to paypal.
I haven't tried that. Will check it out. I was a happy Bitcoin user for the fast few years but because of blockchain FEE INCREASE and delay process recently grrrrrr will try if I could exchange DOGE to my PayPal account. I hope that site is unlike Paxful. Thanks!
Cheers.
It would be interesting to know the fees here, as it's a quicker step for me right now than to take funds to my bank cards, which are pay-pal connected.
Did you get any STEEM at 1.10/1.2 yesterday?!
I managed to sell some SBD high on Bittrex and buy in Steem under 0.00011 so was a pretty good day. ^^
Nice work! These swings are great if you have some coins knocking around eh 😁
I guess it is better to use the Steemit.com Internal Market. You would do even better.
I guess VirWox only works on desktop.
In the Philippines, we can do it easily on mobile with GCash MasterCard link to PayPal. Withdraw/Transfer PayPal funds to GCash then Cash In BTC using the same MasterCard at Coins.ph then transfer BTC to BlockTrades (to BUY Steem/SBD/SP). 👍
Then from Steemit SELL/WITHDRAW Steem/SBD to DOGE/LTC via BlockTrades and Coinpot, convert DOGE/LTC to BTC at Coinpot then transfer BTC to Coins.ph for FIAT/PESO (back to GCash MasterCard or bank accounts, etc.etc.). Blockchain FEE is quite high if we sell STEEM/SBD to BTC that's why I "sell" it to DOGE/LTC (Coinpot Wallets) first. DOGE has the lowest fee.
Gcash? is that an app? can i do it without the MasterCard?, My paypal account have enough funds...
Yes an app but sorry it is for #Philippines mobile users only. 🙂
plz follow me and make comment and give me Upvot in my post
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@alaarajab That is NOT a good practice.
I sold a lot of shit I didn't use, cheap guitars mainly, therefore I got something on Paypal right now, and yeah this was the missing link
When I had to use paypal to buy/sell btc I used virevox or localbitcoins.com. Both are useful ;)
I can't wait for the day where you can actually buy most stuff with crypto and ditch the whole exchange business.
Exactly!
Yes! It's getting better and better. There are some debit cards that uses crypto for free domestically and pretty cheap internationally. You can also withdraw from an ATM. I love where the technology is going.
Thank you. I saw this site about 7 months ago and was worried it was a scam. Since it's still up and running it's a great option. Thanks for reminding me, and confirming it's not a scam!
I have been having friends(in Uganda) asking me how to buy Steem using Paypal and wow i will first have to try it and then explain to them
Thanks for sharing, will come in handy for me. Actually I've been searching for a way to buy steem using Paypal. So this post is about time.
🙏🏽 This will be a life-saver right now... I just can't wait for the day when buy crypto with fiat will be a few clicks 🤩
plz follow me and make comment and give me Upvot in my post
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and iwill give you my Upvot and follow you
not only is this inappropriate, your article is plagiarised. So, instead of an upvote from @acidyo, you will get a flag from me and a report to @steemcleaners.
finally i found this, i've been looking for a legit site where i can transfer my money to paypal. Buying things online is easy when i use paypal. So this tutorial gives me hope 👏
plz follow me and make comment and give me Upvot in my post
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and iwill give you my Upvot and follow you
wow that would have really hurt and you ended up not been able to complete the transaction you were hurrying for, sorry about that and thanks for the above will be really useful but not to us here, as my country is yet to support withdraw from paypal but we can fund via it
Thanks, been looking for something like this :)
I didn't even know this was possible, though it's definitely a bit off a long and strange way to do it. Still could be useful at some point though!
Super awesome I love how easy it is becoming for people to buy into bitcoin. I do notice that BTC is still the go to for everyone which is what keeps BTC so strong!
I remember virwox, so much high fees, but for well, for the ones that has only paypal...
Thanks for that helpful tutorial!
To move your STEEM or SBD to paypal, you can also use anycoindirect.eu. You need to use @blocktrades to get DOGEcoins (only 0.002 $ transaction fee) and than just sell your dogecoins for paypal. You will get money to paypal in few hours.
VirWox lives! I was using that back in 2013.
Bitpay cards are an option in the US. Also, if you use Coinbase, you could use changelly.com to send Steem to BTC and then sell it if your bank account is verified and whatnot.
thanx.....but there should be need much more development in case of exchanges...to buy steem i need to buy bitcoin first (there is tax for buying bitcoin) ...then there is fees to send bitcoin (0.0005BTC)..so much money go in waste ..
The best way is transfer to bitcoin wallet, there is no fees! and multiply your earrings !
This is a great ,my kind of post.i am looking for this from last some days.you did the work but one thing i have to know that is it cheapest way as compared to blocktrades.us and bitterx.
Thanks for the helping post.i should try it.
well, that is informative bro @acidyo, u/r from me, :) great
Great post, really concise! As you've stated, VirWox is easy to use, legit and most importantly, fast. I've used it in the past to 0 issues and I highly recommend its use!
thanks for information
Thanks for sharing, this will help me a lots :)
Thanks for the article. This is a good resource for people who don't want to apply for a bitpay card. Or if you are like me and in the waiting period limbo pending approval.
I have successfully used both Paxful and Virwox for buying bitcoin. Watch out for the cost of purchase.
This is very useful for me and others, I have never used paypal to make transactions, useful information.
I have been looking for a way to convert bitcoin to paypal and vice versa for a long time now, I almost got scammed.. Thanks for the info, i will give this site a try
I can't wait the time when i don't use fiat anymore and use only Cryptocurrencies.
So far, the only place I have reliably used PayPal-- and cashed out to PayPal-- is Coinbase. My usual "exit route" these days is Steem/SBD to Bittrex, change to BTC, BTC to Coinbase, use their "exchange to PayPal" and it's pretty much an instant transfer. The transaction fees are somewhat stout... but if you need to turn your Steem to Fiat in a hurry, this process typically can be done in about an hour, from beginning to end.
thank you for this post acidyo. really helpful to new users.
thank you
its really helpful to others. thanks
Nice one!
Great post..thanks.
plz follow me and make comment and give me Upvot in my post
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and iwill give you my Upvot and follow you
Stop doing this spamming comment. Go read this post and try to do better:
Make Money Blogging on Steemit Top Tips and Checklist for Better Results!!
Sounds great @aciddyo ... Is it works only Paypal to VirWox or we can transfer the Bitcoin from VirWox to any other exchanges?
great information............................. thanx
Pfft, paypal is outdated.
Totally, though i get paid through PayPal and i cant do anything about it... I hope i could get my pay in crypto... T Hat would be perfect..
You're on Steemit, so don't you already do ;)?
LOL of course, but i meant get paid in crypto on my other jobs as well hehe...
This works for South America, especially Colombia?
I want to complete to pay the semester of my university with balance of sbd.
I need half and nobody wants to lend me, I have something here and I think I'm going to have to use it.
Yep it works any country, as long you have funds on your paypal account...
Better way would be to sell them to someone here. But I don't know if that would be a violation of steemit.com policies. I have no idea. But I bet you a lot of your own friends would be willing to buy your hard earned SBD since with them you can buy Bitcoin on Bittrex.com
I don't plan on using this, but I I know a lot of people @steemusa that I will be sharing this with on discord as they have been asking a lot of questions.
thanks for sharing :)
Thanks for the info @acidyo ! Definitely going to start following for future tips :)
Thanks for this info
Hi @acidyo, i wrote the same identical guide more than one month ago...
https://steemit.com/steemit/@miti/how-to-buy-steem-with-paypal-complete-step-by-step-illustrated-guide
Good stuff. I was wondering how to do this. 👍
Good info. Now I can waste my Steem on stupid Ebay stuff.