Can I buy USDT with PayPal?
Paypal does not currently offer Tether (USDT) tokens to buy directly through its cryptocurrency trading platform. That means that account holders will need to find an alternative exchange that is licensed and accepts PayPal deposits to buy USDT.
The PayPal crypto app currently offers Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
How to buy USDT (Tether) with a PayPal deposit
The best way to buy USDT directly with PayPal is through the eToro trading platform. They offer low trading fees and instant PayPal deposits for USD, EUR, GBP, and AUD to trade USDT and several other coins.
You can buy USDT in minutes with this simple guide:
- Create an account: Sign up to eToro.
- Deposit funds: Select the 'Deposit Funds' button on the bottom of your screen and select 'PayPal'. Follow the prompts to connect your PayPal account.
- Find your Crypto: Once the PayPal deposit hits your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
- Execute your trade: Input the amount you want to invest and execute your trade.
PayPal USDT Trading Fees
The eToro platform charges zero fees to deposit USD and other fiat currencies to their exchange via PayPal. That said, there is a fixed $5 fee charged if you want to cash out your crypto back into your PayPal account from the eToro exchange. There is also a fee of 0.5% which is charged in the spread of the buy and sell price to invest in any asset on the platform.
What is Tether (USDT)?
Tether (USDT) is a cryptocurrency with a value meant to mirror the price of the US dollar. The idea is that holders can use USDT like digital "dollar bills" to avoid the volatility of other cryptocurrencies.
USDT is issued by a company called Tether Limited and is pegged to the US dollar on a 1-to-1 basis. Tether claims that all of its USDT in circulation is backed by actual US dollars held in reserve. USDT is the largest stablecoin by market capitalization and is available on a variety of cryptocurrency exchanges.