Summary: The easiest way to buy USDT (Tether) with PayPal is through a licensed and secure cryptocurrency exchange that accepts PayPal deposits. With this method, customers can deposit USD, EUR, GBP and other currencies from PayPal to buy USDT and other stablecoins.
Our top pick for PayPal users is Bybit. Their platform allows users to buy USDT and other stablecoins with PayPal deposits in over 30 different currencies. Bybit currently charges zero fees for PayPal deposits to buy, sell and trade over 350 cryptocurrencies.
- Instant and Free deposits via PayPal to buy Tether (USDT) in 30+ currencies.
- Trade 400+ crypto assets with low fees via Spot Trading, Futures Trading or Crypto Options.
- Non-KYC exchange with proof-of-reserves that show customer funds are backed 1:1.
Can I Buy USDT with PayPal?
No, PayPal's cryptocurrency trading platform does not provide the option to directly purchase USDT tokens. To that end, individuals holding accounts must seek a licensed alternative exchange that accepts PayPal deposits for the purchase of USDT. The cryptocurrencies currently offered by the PayPal crypto application include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
The company has not announced any intentions to support stablecoins such as USDT or USDC in the foreseeable future.
How to Buy USDT (Tether) with PayPal
As outlined earlier, the safest and best way to buy USDT directly with PayPal is through a secure and regulated trading platform like Bybit. They offer low trading fees and instant PayPal deposits for USD, EUR, GBP, PLN, AUD and more to trade USDT and several other coins.
You can buy USDT in minutes with this simple guide:
- Sign Up: Open a free account on Bybit and complete the verification process.
- Deposit Funds: Click 'Buy Crypto' then 'P2P Trading' and select 'USDT' and 'PayPal'. Also select the fiat currency you want to use to buy USDT from PayPal.
- Select Seller: Find the best price for USDT available and select 'Buy USDT'.
- Buy Crypto: After you select 'Buy USDT' you will then be prompted to connect your PayPal account and finish the transaction.
PayPal USDT Trading Fees
The PayPal 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 Bybit exchange.
Can I Buy PayPal with Binance?
Unfortunately, this is not possible. Binance, one of the world's leading cryptocurrency exchanges, has recently made changes to its platform that affect this specifically. More explicitly, Binance has eliminated the option of PayPal as a payment method on their Peer-to-Peer (P2P) trading platform.
This action means that users of Binance are no longer able to utilize their PayPal accounts for transactions within the Binance platform. This change could be due to various reasons including risk management, compliance issues, or a shift in Binance's business strategy. As a result, for those looking to link their financial activities between PayPal and Binance, they will need to explore other exchanges or payment methods.
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.
In conclusion, while direct purchase of USDT through PayPal's cryptocurrency platform is currently not an option, alternative secure and licensed exchanges like Bybit provide a viable solution. Bybit allows users to deposit various currencies through PayPal, facilitating the purchase of USDT and numerous other cryptocurrencies.
Unfortunately, the recent removal of PayPal as a payment method on Binance's platform has limited options for those looking to utilize PayPal in their transactions. It's crucial to stay informed and adapt to the ever-changing landscape of digital currencies and platforms. Remember, always prioritize security, legitimacy, and your individual financial objectives when engaging in cryptocurrency transactions.