Ethereum is so far the second most popular and well-recognized cryptocurrency in the world now. Even though its market price cannot be compared to that of bitcoin, it’s still one of the recognized cryptos today.
According to Statistica, its price reached a peak of $4,000 dollars, which was recorded as the highest market price since it was publicly published. Also, Asia and Africa are recognized continents after America in terms of transactions of cryptocurrencies.
In Africa, countries like Nigeria, Kenya, South Africa, Uganda, Ghana were said to be the countries that lots of cryptocurrency transactions went on in. And also in Asia, countries like China, India, Malaysia and a few others also recorded high transactions.
Buying these cryptocurrencies with PayPal in Africa and some Asian countries can be very complicated sometimes. This is because of some availability of PayPal in these countries and the restrictions as well.
Some African and Asian countries have PayPal working, but others have restrictions that make using PayPal difficult in these countries. Some are only allowed to receive and spend money, but they can not withdraw their PayPal funds to their cards and bank accounts.
And the main problem today is, popular and trusted platforms like Blockchain does not support the purchase of cryptocurrencies using PayPal. This makes it very complicated to buy crypto using PayPal funds.
It was said published in one of the popular cryptocurrency articles that, Peer to Peer (P2P) is the popular way of buying cryptocurrencies such as Bitcoin, Ethereum, Tether, Litecoin etc in Africa and also some countries in Asia.
In this guide, we will be enlightening every reader of ours on the procedure to buy cryptocurrencies like Ethereum using PayPal funds in Africa and some parts of Asia using a P2P website or platform.
We will also be using PayPal as an example and also do well to add the procedure in which one can buy Ethereum using their PayPal funds on Paxful without breaking a sweat.
Not only that, but we will also add tons of websites and platforms where you can also purchase Ethereum there is you if you are not willing to use Paxful.
Websites You Can Buy Ethereum With Paypal Funds In Africa
- Capital One
How To Buy Bitcoin With PayPal Funds
How To Buy Ethereum On Paxful With PayPal Funds In Africa
Below is the easy-made guide on how to purchase Ethereum using PayPal on Paxful. This procedure will not take up to 30 minutes if your trade is done with a fast and easy-going vendor.
- Create or Login into your Account if you have one
- Click on “Buy” and Select payment to “PayPal and also the Ethereum”
- Now click on the “search”
- Select the offer you prefer from any vendor and start trade.
- Take the details of the vendor and make payment.
- Once payment is confirmed by Vendor, he/she will release your bitcoin.
With Paxful, this is how to buy Ethereum within not more than 3 minutes. Just like other P2P platforms, you will be given an Ethereum wallet to store your coins. You can also decide to even send them out to your Blockchain wallet or any other trusted wallet after purchase.
Once you feel there is a slight misunderstanding, click on the dispute to get that issue settled by a customer service/ support.
One thing to know is, almost all the vendors on there wants to receive payment through the “Family and Friends” option.
If your PayPal account does not have this option, and you can’t get a vendor to trade with, we suggest you use any of the listed platforms there.
How To Trade Gift Cards For Cash
Purchasing cryptocurrencies on P2P platforms like Paxful, you sometimes have to follow some rules set by vendors on the platform. One of the popular rules on there is by sending or making payment using the “friends and family” option.
Almost all the vendors on the platform want buyers to make payments through the family and friends option. I personally find it unpleasant because money sent through the friend and family option can not be reversed when anything happens after payment has been made.
Also, not all business PayPal accounts have the friends and family option when sending money out. Although these P2P platforms have an escrow system that will prevent scams, it’s sometimes unfavourable. Especially the time it takes for a dispute to be settled and the cryptocurrency is awarded to the rightful owner.
Some also go to the extent of asking the buyer to send a front and back picture of his or her ID just for verification purposes.
This normally happens when you are buying a huge sum of cryptos, like $1,500 and above. This is to help them get proof that you are legit, and they are getting into business with a business-minded individual. This is because of the high rate of fraud on the Paxful platform.
Some P2P platforms like Binance, Coincola and a few others also allow Ethereum to be bought with PayPal funds.