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 more diverse range of assets. We recommend going through a secure, regulated and licensed cryptocurrency exchange like eToro.
How to Buy Bitcoin & Crypto with PayPal
As mentioned above, the safest and easiest way to buy cryptocurrencies with PayPal is through a globally regulated digital asset exchange like eToro. They offer fast and cheap PayPal deposits in a variety of fiat currencies to trade over 80 cryptocurrencies and thousands of Stocks, ETFs, Commodities, and more.
It is important to note that eToro doesn't allow first time deposits of currencies via PayPal, you will first need to deposit a small amount ($10) with your bank account or credit/debit card to use the PayPal deposit method. Follow the simple steps below to get started:
- Sign up to eToro and verify your identity
- Find ‘Deposit Funds’ and select ‘PayPal’
- You will be redirected to your PayPal log-in page, follow the prompts and your funds will arrive instantly in your eToro account
- Once your funds have arrived, search for Bitcoin or whichever cryptocurrency you want to buy. Enter the amount you want to invest and click ‘Open Trade’
Fees to Invest in Crypto with PayPal
When you use the eToro platform, you will only be charged one fee, the trading fee. Typically, most exchanges will charge you to deposit on the platform but eToro offers free and instant deposits. eToro users will incur a 1% flat fee anytime they buy or sell crypto. This is considered relatively low compared to the PayPal platform which charges 1.8%.
How to Buy PayPal Stocks
In addition to buying cryptocurrencies on eToro, you can also invest in PayPal stocks. To buy PayPal stocks on eToro, simply search for 'PayPal' on the platform, enter the amount you want to invest and select 'Set Order'.
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 eToro. You can simply have your funds securely stored on the eToro platform. Their exchange has all of its users funds stored offline in cold storage and they are insured by tier 1 banks. The platform has never been subjected to any cyber attacks in the 15 years it has been operating for.
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. PayPal is safe and regulated in the United States by the Financial Crimes Enforcement Network (FinCEN). PayPal is headquartered in San Jose, California.
When you sign up for a PayPal account, you'll need to provide your name, address, and email address. You'll also need to create a password. Once you have a PayPal account, you can add funds to your balance from your bank account or credit card.
You can then use those funds to make online purchases, buy crypto, or send money to other PayPal users. PayPal offers buyer protection for certain transactions, so you can be confident that your money is safe when you use the service.