Wirex Limited, the London, U.K. producer of the E-Coin bitcoin debit card, has made it possible for users to buy bitcoin using an E-Coin virtual Visa card and PayPal.
E-Coin users can buy bitcoin with PayPal from the following countries:
Bahamas, Bahrain, Botswana, Bulgaria, Chile, Croatia, Estonia, Georgia, Gibraltar, Honduras, Iceland, Indonesia, Israel, Italy, Jordan, Kazakhstan, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Moldova, Morocco, Mozambique, Oman, Philippines, Romania, San Marino, Saudi Arabia, Senegal, Serbia, Slovakia, Slovenia, Turkey, United Arab Emirates and Uruguay.
Plastic E-Cards cannot be shipped to the following countries: Botswana, Honduras, Mozambique and Senegal.
By supporting countries in the developing world that have access to PayPal, Wirex hopes to offer opportunities to purchase bitcoin with one of the world’s most common payment methods.
To buy the cryptocurrency with PayPal through the Wirex/E-Coin platform, a user must have a PayPal account registered through any of the supported countries listed, along with a Wirex/E-Coin account and an E-Coin virtual Visa debit card.
Users also need a minimum $3 on their virtual Visa card and a positive balance in their PayPal account.
Wirex does not charge a fee for this feature. PayPal applies a withdrawal fee of $5 per transaction. The minimum withdrawal amount is $10.
After logging into your PayPal account, go to “Money” and click “Add A Card.”
Fill in your name, E-Coin card information using your virtual Visa card, and your address. When done, click “Add Card” to go to the next step.
PayPal will ask to confirm the new card. Click “Confirm My Card” and PayPal will begin a series of verification transactions. The minimum accepted PayPal balance is $3.
You will be asked to enter a PayPal Code. Return to your PayPal account and insert the 4-digit code. This links the E-Coin card to the PayPal account.
Next, go to your Wirex/E-Coin account. Under “card transactions,” there will be a 4-digit code from PayPal. Take note of the code.
Go to your PayPal account and click “Withdraw Money.” Then select “Withdraw Funds To Your Card.”
Enter the amount to withdraw, select your E-Coin Visa card, and click “Continue.” The minimum withdrawal amount is $10. PayPal fees will be deducted from this amount.
The withdrawal request is now in process. The funds will be deposited into your E-Coin card within five to seven business days.
Once funds are withdrawn from the PayPal account onto your E-Coin card, you can buy bitcoin. Once the funds have cleared, log into your E-Coin account and select “Buy Bitcoin.”
Enter the amount of bitcoin you want to buy. The minimum amount is 0.01 BTC. The funds will be deducted from your E-Coin card. When ready, click “Submit.”
A review page will appear. Confirm the bitcoin purchase by clicking “Confirm.”
There will be a confirmation email following the purchase.
Wirex recently introduced the first two-way bitcoin debit card, CCN.com previously reported. Users can spend bitcoin with the card wherever Visa and MasterCard are accepted in more than 130 countries.
Featured image from Shutterstock.