Summary: PayPal does offer four Cryptocurrencies to buy and sell directly through their mobile payment app. That said, PayPal Crypto is one of the most expensive options in the world to invest in digital assets. It is much more affordable to go through a secure digital asset exchange.
The best alternative platform to buy and sell Cryptocurrencies is Bybit. It accepts PayPal deposits and is available to use in over 180 countries. It's a global digital asset exchange that can be used in over 30 languages.
- Free and Instant deposits via PayPal to buy Crypto in 30+ currencies.
- Trade 400+ Cryptocurrencies with competitively low fees starting from 0.1%.
- Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Can I buy Crypto on PayPal?
Yes, you can buy Cryptocurrencies directly on the PayPal platform, however, you can only invest in Bitcoin, Bitcoin Cash, Ethereum & Litecoin. In addition to its small selection, PayPal charges a high 1.8% in fees whenever you buy or sell Cryptocurrencies.
There are alternative methods to buying Cryptocurrencies with your PayPal account with lower fees, better security, and a wider range of features. We recommend going through a secure and reliable digital asset exchange like Bybit.
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How to Buy Bitcoin and Crypto with PayPal
As mentioned above, the safest and easiest way to buy Cryptocurrencies with PayPal is through Bybit. The exchange offers free and instant PayPal deposits in over 90+ fiat currencies to trade over 400 Cryptocurrencies.
- Open a free account on Bybit and complete the verification process.
- Go to 'Buy Crypto', select 'P2P Trading' and click 'PayPal' as your method.
- Pick your fiat currency and the Cryptocurrency you want to purchase and click 'Buy'.
- Complete the transfer and your tokens will reflect in your account.
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Fees to Invest in Crypto with PayPal
When you use the Bybit platform, you will only be charged one fee, the trading fee. Typically, most exchanges will charge you to deposit funds on the platform but Bybit offers free and instant deposits. Bybit users will incur a 0.1% flat fee anytime they buy or sell Crypto. This is considered relatively low compared to the PayPal platform which charges 1.8%.
Do I need a Crypto Wallet to buy Crypto with PayPal?
No, you do not need an external Crypto Web3 wallet to buy tokens on Bybit. You can store your funds securely on the Bybit platform. The exchange has all of its user's funds stored offline in cold storage and they are insured by tier-1 banks. The platform has never been subjected to any cyber-attacks or hacking incidents since its inception in 2018.
About PayPal
PayPal is a leading online payment processor and platform. They offer a wide range of services, including peer-to-peer payments, online shopping payments, and in-app payments. It's a secure and convenient way to make payments, with over 377 million active accounts worldwide. PayPal is safe and regulated in the United States by the Financial Crimes Enforcement Network (FinCEN). PayPal is headquartered in San Jose, California.
PayPal also offers buyer and seller protection, which provides added security for transactions. If a buyer does not receive their item or the item is not as described, they can open a dispute and PayPal will investigate the issue and potentially issue a refund.
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Final Thoughts
PayPal is one of the most popular and secure methods to buy Cryptocurrencies. As PayPal only offers 4 Crypto options, we recommend you go through Bybit to purchase a wider selection of tokens with lower fees. If you would like to learn more about this exchange and what features it offers, visit our detailed Bybit Review.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
