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How to Buy Bitcoin With Paypal Using Cryptonit

How to Buy Bitcoin With Paypal Using Cryptonit

I am not a big fan of Cryptonit, and it is not because of all those websites that claim there is something fishy going on. I don’t like Cryptonit because they make you give them all your details and ask you for a form of ID. Their reasons for doing this are reasonable. Most bitcoin exchanges will give you a horrible exchange rate to make up for the risk that comes with accepting PayPal. Cryptonit don’t have a terrible exchange rate, and their fees are robust but not terrible. The way they compensate for the risk of taking PayPal is by getting as much information from you as possible before allowing you to trade. Despite the fact that this seems fair enough, I am still not 100% happy about giving away so much information to something that isn’t a bank or national utility company. Still, here is how you buy bitcoin with PayPal using Cryptonit.

How to Buy Bitcoin With Paypal Using Cryptonit

You start on the Cryptonit home page that is shown in the image below. Click on the link that is highlighted in the image below where it says, “Create a new account.”

Cryptonit Home Page

You then register for a new Cryptonit account by entering your email address and coming up with a password that you have to enter twice. You then have to tick one of the boxes, and you have the option of ticking the other. Click the button that says, “Create New Account.”

Register for a new Cryptonit account

The system didn’t send me an email with a confirmation or activation link on it. After a few tries, I clicked on the “Request new password” link. I entered my email address and clicked to recover my password but nothing happened.

I went from Internet Explorer and tried Cryptonit on Microsoft Edge. This time, when I clicked the button to recover my password, they sent me a link via email. I clicked the link and it took me to the password reset page.

Request A New password with Cryptonit

I entered my newly created password into the page two times and required and I clicked the button to recover my password. After that point, I was then able to log into the website and gain access to my new account.

Recover my password with Cryptonit

Now, before you are able to play with their tools and make trades, you have to enter a bunch of details and become verified. The image below shows you all the things you need to enter and give in order to be verified. Verification can take a few days, so this is not the website to visit if you are in a rush to get bitcoin.

Verification Section with Cryptonit

Once you have been verified, you are able to start using the Cryptonit trading tools. As you can see, you are able to enter the amount of bitcoin you want, or you are able to enter the amount of US dolalrs you are willing to spend. The tool shows you how much you will get from the company and how much their fee is going to be. Click next to continue.

Cryptonit trading tool

As you can see by the image below, you are able to buy and sell more than just bitcoin and dollars. Plus, you are able to see how much you are spending.

Cryptonit trading tool with transaction

Conclusion – Keep An Eye On Cryptonit

If you look online, you are going to see a bunch of article that claim Cryptonit is less than reputable and that the company is a little fishy. I don’t know if I agree, but I am personally a little peeved that I had to send so much information to them to become verified.

If anything, you should keep your eye on this company to see if it grows and to see if its reputation improves over time. I like their buying tool and I like the fact you are able to see how much of their fees they are going to charge and how much you are going to receive when you buy. Their exchange rates are still a little high for my liking, and they could lower a fee or two, but I think we should leave this company a little while to see if things improve. They may be a good exchange company in the future.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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