There’s no doubt that Bitcoin is currently the most valuable cryptocurrency in the marketplace today. As the value and popularity of Bitcoin grows, so too does the number of different ways in which it is possible to exchange Bitcoin for real world goods and services.
There are now hundreds of thousands of different merchants, stores, and websites worldwide that accept Bitcoin and other major cryptocurrencies as methods of payment. Recently, a number of cryptocurrency card solutions have also become available, allowing users to withdraw cash from ATMs directly using their crypto wallets.
It can be difficult, however, to exchange Bitcoin or other cryptocurrencies for currency on popular online payment gateways, such as Paypal. A simple new platform is changing this, offering users the ability to quickly and seamlessly exchange Bitcoin for credit on Paypal in a simple manner.
In this article, we’ll take a look at the WalletPal platform and find out how it works to help you determine if it’s the right way to transfer value from your crypto wallet to your Paypal account.
What is WalletPal?
WalletPal is an extremely simple and straightforward platform that facilitates the transfer of Bitcoin into a Paypal account. Boasting easy, secure, and fast transactions, WalletPal makes it possible to sell your Bitcoin for USD on your Paypal account.
WalletPal makes the process of switching between BTC and Paypal-based USD extremely easy. Users simply enter the amount of Bitcoin they’d like to exchange, and enter their Paypal email address and contact information. After users fund the provided wallet address with BTC, WalletPal send the USD to the linked Paypal account within 24 hours.
WalletPal takes a flat commission of 3% per transaction, and uses market averages to calculate Bitcoin value.
Will WalletPal Pay You?
It’s currently unclear whether WalletPal is a legitimate website or not, as there are not many reviews surroundig the site. There is an amount of inherent risk in using services such as WalletPal, as once you’ve sent BTC to the WalletPal address, there’s no guarantee that they will then send you USD via Paypal.
It’s possible that WalletPal may simply take your BTC and never pay you via Paypal, which would lead to the irreversible loss of your BTC. If you’re intent on trying out WalletPal for yourself, we’d advise first trying the service out with a small amount of BTC to ensure it’s legitimate first before sending any large amount of currency.
It’s not clear at this stage whether WalletPal is a scam or not, although it does appear legitimate. If you’re going to use WalletPal, exercise caution and perform your due diligence first.
Better yet, use a traditional exchange that has a good reputation that facilitates bank deposit withdrawals, or a cryptocurrency card. It may take longer, but it’s far safer.