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How to Buy Solana with PayPal

How to Buy Solana with PayPal

Andrew Chen
Fact Checked
Nov 29, 2022

Summary: The PayPal crypto platform does not currently offer the ability to buy Solana (SOL) tokens. This means that users will need to deposit fiat (USD, EUR, GBP, etc) from their PayPal account to a trusted exchange that accepts PayPal transfers.

For investors looking to get started quickly, we recommend the eToro platform. They offer fast and cheap PayPal deposits to buy Solana as well as 80 other cryptocurrencies and 8,000+ Stocks, ETFs and other assets.

Table of Contents

Best for PayPal Deposits

Platform Highlights

  • Fast and cheap deposits from PayPal accounts to buy Solana (SOL).
  • Tight spreads and low trading fees on Solana with staking options available.
  • 80+ Cryptos and over 8,000 Stocks, ETFs & Commodities available.

Can I Buy Solana (SOL) on PayPal Crypto?

Unfortunately, no.  At the time of writing, it is not possible to buy Solana (SOL) on the PayPal crypto platform. This is because PayPal Crypto currently only allows users to buy, hold and sell four cryptocurrencies - Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Due to regulatory constraints, PayPal has not made any announcements that they will be adding new popular tokens like Solana or Avalanche in 2022.

How to Buy Solana with PayPal?

The best way to buy Solana tokens with a PayPal deposit is through a licensed and regulated trading platform like eToro. They accept fast and cheap PayPal deposits to trade over 80 cryptos which include Solana, AVAX and other popular Layer 1 tokens. Their exchange charges low trading fees and has industry-leading spreads for competitive execution.

You can get started in 4 simple steps:

  1. Create an account: Sign up to eToro.
  2. Deposit funds: Select the 'Deposit Funds' button on the bottom of your screen and select 'PayPal'. Follow the prompts to connect your PayPal account.
  3. Find Solana (SOL): Once the PayPal deposit hits your account, find the Solana token on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the amount you want to invest and execute your trade.
Deposit with PayPal to buy Solana (SOL) on eToro.

What is PayPal's Crypto Policy?

PayPal has been one of the most popular online payment processors for many years. In recent months, they have taken steps to embrace cryptocurrency as well. In October 2020, PayPal announced that it would allow customers to buy, hold, and sell cryptocurrencies directly from their PayPal accounts. This move was seen as a major step forward for the mainstream adoption of cryptocurrency.

However, PayPal's crypto policy has been criticized by some in the cryptocurrency community. One of the main criticisms is that PayPal only allows transactions in a handful of cryptocurrencies. As of right now, the only cryptocurrencies that can be bought, sold, or held on PayPal are Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This limited selection excludes many popular cryptocurrencies, such as Solana, UniSwap, Dogecoin, Shiba Inu and others.

PayPal Crypto
PayPal Crypto platform.

About Solana

Solana is a high-speed, decentralized finance (DeFi) focused blockchain that can process 50,000 transactions per second. The native SOL token powers the Solana ecosystem and is required to stake SOL and use the network's validator nodes.

The Solana Foundation was founded in 2017 by Anatoly Yakovenko and Greg Fitzgerald with the goal of building a fast, scalable and user-friendly blockchain protocol. The Solana project raised $20 million from a group of high-profile investors, including Polychain Capital, Multicoin Capital and FTX.

The Solana network went live in March 2020 and has since seen rapid adoption by the DeFi community. Some of the most popular Solana-based applications include Serum DEX, Raydium DEX and Solend. As the DeFi space continues to grow, Solana is positioning itself as a leading blockchain protocol for high-speed decentralized finance applications.

Andrew Chen

Former Bitcoin Maximalist turned multi-chain enjoyer. I hunt down the best yields across AVAX, Solana, Fantom and other networks.

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