It comes as a complete shock to a lot of day traders who buy and sell penny stocks, but there is actually a way to buy penny stocks with PayPal. A lot of the doubt, and plain ignorance, stems from the fact that PayPal is seen for the most part as simple online portal for sending and receiving payments. But once you learn how to buy penny stocks with PayPal you soon realize that it isn’t that mysterious or difficult. All that’s needed is a good understanding of the process.
How To Buy Penny Stocks With PayPal – How PayPal Actually works
A great deal of day traders we come across, don’t fully understand how the PayPal service works. Its workings are pretty simple. Operating much like a bank, PayPal allows users to add funds, accept payments for online transactions and also use funds inside a PayPal account actually pay for things. The number of things that you can actually use PayPal to pay for is almost limitless. There are virtually no online sellers these days that don’t accept PayPal, and that includes those that operate as brokers selling penny stocks.
It’s not difficult for day traders to buy penny stocks with PayPal either. The service is global and in most countries that are fully developed, PayPal operates localized sites. So for example, if you live in Canada, you can access a localized Canadian site for PayPal with very little issues. The same is true for day traders who live in Australia, the UK, France, and Germany — basically if the company is rich and doing well, PayPal is there. So, how do you actually buy penny stocks with PayPal? We are about to take a look at the process so let’s go…
How To Buy penny stocks With PayPal – The Process
As we said above, PayPal acts much the same way a bank does. This capability means that it gets a lot of backend integration into other services, including of course, online brokers. In order to tap the power of PayPal to buy penny stocks, you need to hook up your PayPal account to your trading account. This is done simply by adding logging into your online trading account and adding your PayPal account as a checking account. There is a verification process that has to be completed, but once this is done, you are ready to start buying penny stocks using your PayPal account.
An additional feature inside PayPal allows you to get even more out PayPal and to buy penny stocks with PayPal. For users that have excellent credit, PayPal issues a MasterCard Debit Card that can be used online in the same way that you’d use any other valid debit card. The beauty of this setup is that you can then use that PayPal debit card to deposit funds into your trading account. This is one of the most untapped areas of services that PayPal offers and we believe every day trader who buys and sells penny stocks should be using it.
It’s not just about getting the infrastructure with which to buy penny stocks with PayPal, of course. You then have to find the top penny stocks to buy. For that we also recommend leveraging the expertise and help of service providers. In this case we believe day traders can find success in using the services of a free penny stock newsletter. There are many of these about and if you are lucky enough to subscribe to one that offers helpful trading education, you can really get going very quickly.