Steam is your ultimate destination for playing, discussing, and creating games. You can find almost any video game on Steam and customize it to your liking. I buy Football Manager every year on the platform. Steam has a wallet of its own and this has made a lot of people wonder if it’s possible to transfer money from Steam wallet to PayPal. I investigate this in this article.
The money in your Steam wallet is non-transferable to any platform. You can only spend your Steam wallet balance on Steam to buy games and anything else that catches your fancy. However, there are ways – which I’ll be discussing below – by which you can withdraw money from your Steam wallet.
Steam has over 30,000 games in its library which means you can get almost any game you want while enjoying exclusive deals at the same time. You can add funds to your Steam wallet from several sources – your bank account, debit, or credit card, PayPal, Skrill, and bitcoin. Steam allows you to deposit up to $2000 a day and you can only make small payments of $100 or less per session.
You can also redeem a Steam gift card you buy from a variety of websites or even received from your friends. Your friends can also gift you software, weapons, and other items and you can also trade your skins and weapons for other items. But according to steam, the money in your wallet is treated as a store credit and cannot be withdrawn.
Can you transfer your Steam Wallet balance to PayPal?
By now, you should know that your Steam wallet balance is non-transferable to PayPal or any other platform. Steam’s argument is that disallowing withdrawals is in the best interest of the users and the company. Yes, I know you are wondering how this is in your best interest. But I think Steam just wants to prevent money laundering.
Imagine if Steam allowed people to deposit thousands of dollars, buy and sell stuff before being able to withdraw their money. Drug dealers, embezzlers, hackers, and people who get their money illegally would flock to Steam to clean their cash.
But you that are just a gaming enthusiast that purchased a game on Steam and still have a couple of bucks remaining in your Steam wallet just let go of the money. Well, there are ways to withdraw your money and I’ll be discussing them in the next heading.
Of course, if you’re looking for ways to withdraw $500 from your Steam Wallet you probably got it legally. And since it’s your money, there should be a way to get it out of Steam.
How to transfer Steam money to PayPal
The easiest way to transfer Steam money to PayPal is to purchase Skins that are easy to sell from the Steam Community market, sell the skins on a third-party site, and withdraw your money to PayPal.
Step 1: Purchase Skins that are easy to sell from the Steam Community market
You can buy any skin you like from the Community Market. However, I’d advise you to buy skins that are in high demand so that you’ll be able to sell them easily. CSGO skins are what most people trying to convert their wallet money to cash buys and it is because it’s very easy to sell. Skins like DOTA 2, PAYDAY 2, H1Z1, and Team Fortress 2 will soon grow in popularity as more third-party sites plan to support them.
I must mention that there is a 7-day waiting period to start trading after purchasing an item. The reason is to ensure the safety of the user and prevent scams, Steam says. And although it’s frustrating, one can’t deny the logic behind it.
Step 2: Sell the items on a third-party site
Now that you have bought the skins, the next thing is to sell them at a third-party site. While there are many third-party sites available, the following are the most popular:
Skins.cash: Provides a global market for instant in-game skins sales while also providing quick and secure payments to gamers worldwide. You are safe trading on this platform and you’ll receive your cash quickly.
Dmarket: Supports CSGO skins. You can trade your CSGO skins here and get paid almost instantly.
bitskins: What I like about bitskins is that you can send considerable amounts of CSGO skins here in a matter of minutes.
There are also alternative third-party sites like skinport, skinbay.com, and cs.deals. However, ‘d personally recommend either bitskins/skins.cash as they are both very popular and most importantly genuine. Must mention that Bitskins have a service charge of 10% per transaction, so you pay $10 for every $100 worth of skins you sell. You the 10% is too much, you can consider heading over to Dmarket that charges 5% per sale.
Step 3: Withdraw your money to PayPal
You are so close to receiving your money. The third-party site where you sold your skins will give you several withdrawal options of which PayPal is always among. So select PayPal as your preferred withdrawal option if you want your money in your PayPal balance. There is also the option to receive payments to your credit/debit cards.