Did you know Bitcoin are at an all-time high? At the current date, 1 Bitcoin equals 36,419.40 United States Dollar. In 2013 when Bitcoin saw its first value hike, 1 Bitcoin equaled around 82,250 INR. So in just over 7 years, the value of Bitcoin has staggeringly increased by over 3000%. Surely, an unbelievable hike -and had anyone been told of this hike rate back in 2013- it would have only been a matter of joke. However, it’s a reality today -and the ones who had the foresight to invest in Bitcoin, are reaping the profits in 2021. So what are these Bitcoin whose value is higher than USD, Euro, and Pound combined? Let’s evaluate three aspects separately. What are these Bitcoin? Why are they so high on value? And then finally, the major question -how to acquire or buy bitcoin with PayPal?
The upper hand of Bitcoin
The world economy heard of Bitcoin for the first time in 2009. Either a group of people or an individual came up with the idea of Bitcoin (which later created a currency of its own, called cryptocurrency. And in present times, there are over 2000 types of cryptocurrency.) Long story short, Bitcoin is a digital currency that can act as both medium of exchange and a store of value -but, is completely out of the government’s influence.
Unlike our regular currency, Bitcoin are beyond the control of governments, central banks, and any other financial institution. It’s an alternative to our government regulated currency (as unreal as it may sound -it’s real!) The technical working behind it involves intensive advanced mathematics and computer science -but the philosophy behind it is simple and revolutionary.
We have numerous digital forms of currency, but they all eventually use some financial institution or the other as a third party. With Bitcoin, there are no third parties. The need for this alternative was first realized after the 2008 Lehman brothers crisis. Since then the financial market has continued to grow unstable. The fact that governments and financial institutions have such great influence and control over our money and assets -became an unwanted fact, overnight. And thus came to the rescue -Bitcoin.
Ways to exchange PayPal for Bitcoin
Bitcoin have recently gained a lot of love in the world as well. Cashing in on this win, digital financial platforms such as PayPal have availed Bitcoin exchange features as well. Let’s evaluate how it works. Firstly, know that Bitcoin transfer is irreversible. Hence, you cannot directly purchase Bitcoin from PayPal. But you can use PayPal as a platform to access another platform that allows you to buy Bitcoin. For example, you can buy Bitcoin from Etoro or Paxful, with PayPal. eToro Bitcoin traders do this by buying the coin directly from the platform.
With PayPal, you can use platforms like -Etoro, Paxful, XCOINS, Localbitcoins, and Wirex. With PayPal, you can exchange Bitcoin in either of two ways -peer-to-peer lending platforms or person-to-person marketplaces. Peer-to-peer lending platforms allow you to buy Bitcoin directly from a buyer. Whereas, with the person-to-person marketplaces, you are connected with both buyers and sellers of Bitcoin than any other online markets. But if you are looking to buy bitcoin with PayPal then these are the best platforms to choose from.