Very surprised to see a CRYPTO tab on my PayPal account
Go to https://www.paypal.com to see if it's on your account or to set one up there
I buy some Bitcoin for the very first time step-by-step in this Beginners Guide, using only my PayPal account. Paypal also offers Ethereum, Litecoin and Bitcoin Cash that can be bought in the same way
How to buy BITCOIN on PAYPAL? BEGINNERS GUIDE step by step EASY way to buy cryptocurrency
TRANSCRIPT: (CLICK PLAY ON THE VIDEO ABOVE)
THIS IS THE TRANSCRIPT - CLICK PLAY ON THE VIDEO ABOVE!
Congratulations on your Bitcoin purchase!
have you been putting off buying Bitcoin like I have?
I have been putting it off for months and look at what's happened to the price of Bitcoin in that time
I know that you are thinking about buying Bitcoin for the very first time and you don't know where to start
I'm in exactly the same position as you
I am going to buy some Bitcoin in real time right now on camera step by step using just my PayPal account
It's just my regular PayPal account, and if I make any mistakes you will be able to avoid them
Now I tried to buy some cryptocurrency on some other websites
I didn't get very far I tried Binance and with that I couldn't even get myself to be verified and I sent a really simple basic question to their support and got no response and I just thought oh my goodness if I had thousands of dollars worth of cryptocurrency and you're not going to reply to me this doesn't look like a good place
Then I saw lots of articles about people having exactly that problem so then I thought about Coinbase because my favourite youtuber Shelby Church recommended it
I guess I'm using coinbase to buy Bitcoin
Or Etoro, and obviously they will charge different amounts per transaction so the hardest part in this whole process is setting up an account
I couldn't believe my luck when I logged into my PayPal account and I saw this right here along the top: it's the second tab in “crypto” and inside the cryptocurrency page on PayPal you're offered four different cryptocurrencies
Now obviously there are thousands of I don't know if there are thousands… hundreds?
So I know this is limited and there's a help article on each of the four currencies it offers so we've got a little article on Bitcoin…
another one on Ethereum…
Litecoin, I've not even heard of that one
and this strange one here Bitcoin Cash which apparently is separate from Bitcoin
Now the reason I'm going… you're probably in the same position, but the reason I'm going for Bitcoin as my first ever cryptocurrency is because I know nothing about this
Hello my name's Neil by the way and I try something new every single day and today I'm buying Bitcoin for the first time uh… just using my PayPal account
I know that I could lose pretty much everything on this, but I know that if I don't experiment and I don't have a go then I'll always be wondering
So I'm going to click on this Bitcoin button here
This is what Bitcoin has been doing in the last six months, I mean who knows what's going to happen next
But I see this really nice tempting “buy” button at the bottom here!
should we do it?
Let's see… It also gives you some denominations as well and I know that I'm going to invest 100 pounds in this, and I'm going to be doing this every week for a year
There's a playlist in the description and on screen now
Now it's brought up a window: let's confirm some information before you buy
Confirm your u.s taxpayer status - although if I were US it’d be “status”
no I'm I'm none of those things
I can't even do a us accent
what to know before buying crypto
I have to keep a budget in mind so I've done that
sales can be taxable depending on where you are in the world and it's not regulated okay I get that so I'm gonna check the box “you understand the financial risks” and click agree and continue
oh this is exciting: the roller coaster… the financial roller coaster begins!
enter or choose an amount
Oh you could buy as little as one pound of Bitcoin that's interesting
PayPal charges fees - a transaction fee - so let's have a look at those and this obviously will change over time
These are the kind of fees, so under 25 pounds they charge 50 pence and then over 25 pounds they charge 2.3 percent
oh look at that oh PayPal you reduce the fee if you go one penny over a hundred pounds!
the… the rate drops to two percent so I'll just show you how to type it in
I'll type in $100
I could hit the 100 button - and then I'll hit “next”
I can't believe I'm doing this!
now this is interesting I've got 100 pounds in my PayPal account ready to do this and it's bringing up my bank account details
I don't want it I want it from my PayPal account
so the reason I can't buy this in PayPal right now is because it has to cover the fee as well so I've got 100 pounds in my PayPal account and I need enough money to cover the fee as well so it needs to be a hundred pounds plus that fee of about two pounds thirty
By the magic of youtube I have now topped up my PayPal balance so now I'm going to go back to click the “crypto” tab button again I… I now have “available value”
Maybe that's because I attempted to buy it and it… it knows I own zero so I'm going to click on Bitcoin and then go down to “buy”
right I'm going to put in 100 pounds and one pence next
Now my PayPal balance appears
“choose funding source”
now I'm going to hit next
what to know before buying crypto
it's a little poem - a little haiku perhaps
I understand the financial risks “agree and continue”
Hey leave me a comment if you are buying some Bitcoin this way
I'd love to know what your experiences are
“Review and buy” it’s still not happened yet so it buys me 0.0034…
oh it's changing!
look the value of it - it’s fluctuating while I dither and read it out to you so now it's worth 0.0034
oh it's plummeting as we speak
so as I predicted the transaction fee is exactly two pounds because I went one penny over 100 pounds and that might be the same in your currency as well so you might want to check the fee structure if you want to save 29 pence or equivalent!
Yeah I can't take the pressure any more
I'm going to hit “agree and buy”
That's my family texting me saying “don’t! don't buy the Bitcoin! step away from the cryptocurrency!”
congratulations on your Bitcoin purchase!
So now I can watch my value of Bitcoin plummet or rocket and look at this!
It shows me the value of the Bitcoin at the bottom here so it's currently worth 99 pounds 87 pence and it's just fluctuating it's now… even while I'm speaking to you… 99 pounds 79 pence so I lost 10p right there
Oh it’s come back again
this is great yeah I hadn't figured this - I hadn't taken this into account but obviously these fees apply for buying and selling because when I sell it as well it's also going to take another two percent
The benefit on buying through PayPal I guess is that there is some form of protection here against me losing the Bitcoin or from it going anywhere so obviously it doesn't protect you from losses but it does protect you from any crypto that's that's stolen so I guess you get some protection there
and I feel more comfortable doing this through PayPal but two percent to buy and another two percent to sell to me feels a little bit spicy
If you want to know how much my cryptocurrency and my Bitcoin are worth right now: I've got a playlist up here where I chart this journey so you can jump ahead and see how much that money is worth
And down here is how to buy Bitcoin using just your mobile device - just a phone
Can you please help my daddy get 1000 subscribers, just click on his face, thanks bye! how was that?
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