Many people do bear doubts about whether the bitcoin can be converted to GBP with Paypal. Living in the digital world where bitcoin and cryptocurrency are gaining more importance and popularity, it is no wonder that people come up with similar questions.
If ever you have taken efforts to buy some bitcoin, then you must know whether it is possible to convert the same into different fiat currency or sell it as per the user requirement. Also, he/she must be thoroughly aware of the procedures that underlay. Thorough knowledge of the aspect reduces the risk of possessing bitcoin and gives the user the confidence to handle it effectively. In this means, the full benefit of bitcoins shall be attained by the user.
In this article, the answer to this question is detailed, along with how the transfer can be made possible. Read on for further information
Is it possible to transfer Bitcoin to Paypal money?
In reality, such a conversion is not directly possible. However, with the aid of a multitude of exchange services, this transfer can be made possible.
Thus, these exchanges serve as an intermediate, which finally helps in the conversion. This makes it possible to exchange Bitcoins for getting fiat money, which can then be withdrawn to the credit card. This credit card shall be linked to the Paypal account and thereby converting into Paypal money.
In the following sections, the means that can be adopted to sell Bitcoin for GBP shall be dealt with.
How can one sell Bitcoin for GBP?
This conversion shall be made possible by following a series of steps that are detailed in the following excerpts.
The first step is to log into the user’s account on an exchange such as BC Bitcoin. Once logged in, click on the ‘sell coins’ option in the navigation bar. The next step is to enter the sum or the number of coins the user intends to sell-off. Once the correct amount is entered, select the currency that the user plans to sell. As the necessity here is to convert Bitcoins, the coin chosen in this step is BTC.
In the following step, the user can select the fiat currency that the user wills to get. In the situation mentioned, the required money is GBP, hence choose the same.
The next step is evaluation. In this stage, the amount of BC bitcoin that one can receive shall be calculated. The email address of the user has to be typed in. There is a common tendency to blindly click on the ‘Next’ option that comes up. However, it is strongly advisable to give a thorough glance through the window and review the details of the transaction before proceeding to the further step by clicking the ‘Next’ option.
In the displayed window, the details of the phone and other referral information have to be typed in the respective spaces provided. Do not forget to type in the Revolut or bank details in the corresponding slots given. Give a thorough check and confirm the details entered. Once that is done, the user can click on proceed. This marks the end of the exchange procedure.
Modern world demands modern solutions. Bitcoin is a mode of digital currency that is fast gaining popularity. If enough efforts are taken to buy and maintain Bitcoins, the user must have enough information on whether these can be exchanged or sold and the respective procedures. This article discusses the possibility of converting the Bitcoin to GBP using Paypal. In the above excerpts, the steps to be followed for the same are also detailed.