How to Buy Litecoin with PayPal in 2022

PayPal is one of the most popular online payment systems today. Unsurprisingly, it is also a popular payment method for buying cryptocurrency. In this guide, you will learn how to buy Litecoin with PayPal.

Why Most Crypto Exchanges Do Not Support PayPal

Perhaps you are reading this because like other crypto enthusiasts, you have been looking for an exchange that will allow you to buy Litecoin with PayPal. But before we start, you need to understand why most crypto exchanges are not accepting PayPal as a method of payment.

PayPal has over 305 million active accounts. Most crypto exchanges would gladly tap into this user base. However, the buyer protection policy makes them stay away. If a buyer disputes a transaction involving cryptocurrencies, they can call their bank and ask for a payment reversal. This complicates matters because if the buyer is lying about a flaw in the product they received, they will get back their money but you might not get back your crypto.

The irreversible nature of crypto transactions, therefore, makes PayPal an unsuitable payment partner for most exchanges.

The good news though is that there are platforms that support PayPal but with caveats. For example, some platforms will warn traders about the high risk of PayPal payments, so that they can make informed decisions. Others only allow users to buy crypto but not sell it.

To buy Litecoin with PayPal, you have to first buy bitcoin (BTC) and then convert your BTC into LTC.

Purchase Litecoin with PayPal on Paxful

Paxful is a peer-to-peer trading platform where you can buy Bitcoin with a wide range of payment methods, including PayPal.

To buy Litecoin with PayPal on Paxful, follow these steps:

• Create an account by typing in your email address, username, and password.
• Confirm your email address.
• Enter your personal details and verify your identity by uploading your ID, passport or driver’s license.
• Click “Buy Bitcoin” to view offers. For best results, choose PayPal as the payment method and the currency you will use to buy Bitcoin. Click “Search for Offers.”

• Paxful will take you to a page displaying all open offers from sellers that accept PayPal payments. View each seller’s information carefully. You will see how high their price is compared to the market price, the buying limits they have set, the last time they were online, and the number of people that have given them positive feedback. For a better view, click the name of each seller. You will see more information like their trade volumes, the number of trades they have made, verified details, and the number of people that have blocked them.

• Once you find a seller that you would like to buy from, click “Buy Now” and enter the amount of money you wish to spend. Paxful will display the BTC you will receive based on the seller’s price.
• Paxful provides a live chat enabling users to share payment details. Also, the platform will hold the BTC in escrow as you make your payment. You will have a limited window to send your payment. If this window expires, Paxful will cancel your trade.

Convert BTC to LTC

Once the transaction is complete, you will receive BTC in your Paxful wallet and you can now sell it for Litecoin. But first, create a Litecoin wallet address. You can use a multi-currency mobile wallet like Trust Wallet.

• Go to your Paxful account and click “Sell Bitcoin.”
• Select the amount of BTC you want to sell in USD or another fiat currency.
• Select Litecoin as the way to pay and click “Search.”
• Paxful will show you a list of offers from traders that want to buy Bitcoin in exchange for LTC.

• As before, review the information of every trader before kick-starting the trade.
• Select a trader and type in the amount of BTC you want to sell. Click “Sell Now.”
• The trader will send the LTC to the wallet address you share with them. If the trader fails to send you the Litecoin within the given duration, Paxful will cancel the trade and you will keep your Bitcoin.

To earn free Litecoin, check out our guide to the best Litecoin faucets.