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Buy Crypto With PayPal in Canada

Last updated 13th Dec 2022
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This comprehensive page provides all the vital information on where you can buy cryptocurrencies with PayPal in Canada. We have reviewed the industry-leading exchanges, brokers, and apps to help you identify what works best for you.

The platforms in this post have been shortlisted based on essential parameters like security level, reputation among users, user experience, fee structures, and much more. To save you time, the top three providers for buying crypto with PayPal in Canada are Paxful, LocalCoinSwap, and LocalBitcoins.

Top Crypto Brokers That Accept PayPal in Canada

1
eToro
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
2
Opensea
Minimum Deposit
$
Exclusive Promotion
User Score
7
The largest NFT marketplace
3
NBA Topshot
Minimum Deposit
$
Exclusive Promotion
User Score
7
Made for NBA fans
4
Rarible
Minimum Deposit
$
Exclusive Promotion
User Score
7
Aggregated NFT marketplace
5
SuperRare
Minimum Deposit
$
Exclusive Promotion
User Score
6
NFT Art Marketplace

Paxful - The Overall Best Platform to Buy Crypto With PayPal in Canada

Established in 2015 by a team of developers, the goal of this platform was to make it easy to acquire cryptocurrencies. With more than 350 payment methods (including PayPal), 10 million users, and a load of top-notch features, Paxful is leading the way and can be considered the overall best platform to buy crypto with PayPal in Canada.

💰 Trade Values:Cryptocurrencies (Bitcoin, Tether, and Ethereum)
📊 Software:Web Application and Mobile Application
🏆 Demo Account Available:No
📺 Ease of Use:Very Good
⭐ Our Rating:5.0 / 5.0
📱 App Available:iOS & Android
🧩 Regulation:Not Regulated
💰 Fees:0.5% to 1%
🔁 CFDs Available:No
⚽ Social Trading:No

Best Ways to Buy Crypto With PayPal in Canada

Only P2P (peer-to-peer) platforms in Canada are currently accepting PayPal as the deposit method. We couldn’t trace the exchanges or brokers offering the option to buy crypto using PayPal in Canada. Furthermore, you cannot buy crypto directly from the PayPal app as this feature is limited to the US and US territories only.

Best Brokers to Buy Crypto With PayPal in Canada

Currently, brokers in Canada are not accepting PayPal as the deposit method to buy cryptocurrencies.

Best CFD Brokers to Buy Crypto With PayPal in Canada

An alternative way to invest in cryptocurrency is with CFDs (Contract For Differences) issued by brokers. These are derivative products, so you won’t own the underlying asset while still investing in the coin. This also means you cannot withdraw, transfer, or spend your crypto.

However, the CFD brokers in Canada like easyMarkets and FP Markets do not accept PayPal as the deposit method for buying cryptocurrency.

Best Crypto Exchanges to Buy Crypto with PayPal in Canada

Crypto exchanges are platforms that can be used to buy and sell cryptocurrency using FIAT currencies or altcoins. The platform acts as an intermediary to manage the process of buying and selling cryptocurrencies like Bitcoin and Ethereum.

However, the cryptocurrency exchanges in Canada like Coinberry, VirgoCX, Coinsquare, and others don’t accept PayPal as the deposit method to buy cryptocurrency.

How to Buy Crypto With PayPal on an Exchange in Canada

You can buy Bitcoin or altcoins from a wide range of popular exchanges in Canada, which include Coinberry, VirgoCX, Coinsquare, and more. You can initiate your journey by registering a new account with one of these exchanges and completing the KYC verification process.

However, we couldn’t find the centralized cryptocurrency exchanges in Canada offering PayPal as the payment option to deposit CAD into the account for trading or investment.

If you would like to learn more, take a look at our guide on the best Bitcoin exchanges in Canada.

How to Find cryptocurrencies on an Exchange: To find a specific cryptocurrency on an exchange, you will need to navigate to the trading section of the platform and use the search bar to find a specific cryptocurrency. Popular cryptocurrencies like Bitcoin, Dogecoin, Ethereum, and Litecoin can be found at the top of the list of available cryptocurrencies.

Altcoins and Bitcoin

Some altcoins cannot be purchased directly with fiat currencies, but you can buy them with cryptocurrencies like Bitcoin. Therefore, buy Bitcoin as outlined in the steps above and look for the altcoins you wish to buy. Click on the buy button and specify the amount of the altcoin you want to trade for Bitcoin.

If you would like to buy other cryptocurrencies apart from Bitcoin, take a look at the following guide on how to buy Ethereum with PayPal in Canada.

Coinbase - Low Minimums Are Perfect for Beginners

Coinbase allows customers to get started with as little as $2 to start trading. This is perfect for beginners interested in figuring out if cryptocurrency trading is the right game for them without making a significant investment. Also, the platform provides over 200 cryptocurrencies to choose from, which is more than most.

The platform has a simple user interface and makes the process of exchange between cryptocurrencies convenient. Therefore, new users will not have a long learning curve on their first day. However, Coinbase has relatively higher fees than most, ranging from 0% to 0.6%, depending upon the pricing tier.

Can I Use Decentralised Exchanges With PayPal?

First appearing in 2014, decentralized exchanges opened the gates for users to trade cryptocurrencies in a peer-to-peer and non-custodial model without the involvement of any third party. There is no need to complete the registration process to use a decentralized exchange - not even an email address is required to interact with them. All you have to do is connect your decentralized wallet like MetaMask and access a world of opportunities like broadcasting transactions, sending tokens, receiving tokens, and more. Anonymity is one of the core benefits of decentralized exchanges.

Hence, now you can understand why it is not possible to use PayPal directly with a decentralized exchange. You need to store some tokens in your decentralized wallet before you can start using a decentralized exchange. This means you can indirectly use PayPal to buy the crypto and then use the same to fund your wallet before using it with the decentralized exchanges.

Best Crypto P2P Platforms to Buy Crypto With PayPal in Canada

The P2P platforms connect users directly to buy and sell cryptocurrencies such as Bitcoin, Ethereum, USDT, and more. In the table below, you can see the top three P2P platforms:

ExchangePayPal Fee (CAD 1000)
🥇 Paxful$0
🥈 LocalCoinSwap$0
🥉 LocalBitcoins$0

The P2P platforms above were chosen because they have the best reputation in the industry. Also, a wide number of payment methods and coins available on these platforms means you can buy cryptocurrencies other than Bitcoin as well.

LocalCoinSwap - Top P2P Platform for Lowest Fees

LocalCoinSwap is a renowned multi-chain P2P trading platform and has been in business since 2017. One of the key highlights of this platform is that you don’t need to complete the KYC verification; hence, you can stay anonymous if using this exchange to buy Ethereum or any other cryptocurrency.

Buying and selling crypto on this platform is free, but if you’re creating an offer for buying or selling, then a 1% fee for the completed trade shall be charged. Other benefits include 24/7 customer service, escrow security, and more.

Buy Crypto on LocalCoinSwap With PayPal: Step-By-Step Guide

Step 1: Sign up for a LocalCoinSwap account
Step 2: Search for an offer
Step 3: Inspect offer and confirm
Step 4: Transaction details
Step 5: Confirmation & wallets selection
Step 6: Complete the transaction

Best Apps to Buy Crypto With PayPal in Canada

Mobile apps allow users to buy and sell cryptocurrency from the convenience of their smartphone. Most apps provide the same functionality as you get on the website using a desktop browser. The table below shows the top 3 mobile apps for buying and selling crypto with PayPal.

ProviderOSPayPal Fee (CAD 1000)
🥇 PaxfulWeb / Android / iOS$0
🥈 LocalBitcoinsWeb / Android / iOS$0

These providers are the best choice because they have competitive fees, offer a large selection of cryptocurrencies, and are considered safe platforms. Paxful sits top on the shelf because of a large number of payment methods, extensive and diverse users, and top-notch features, including a free Paxful wallet.

Paxful - Top Choice for User-Friendliness

Paxful mobile app has been designed and developed to build an intuitive experience with a short learning curve for beginners. You can expect the same functionalities in the mobile app that are found on the web browser version. You can also wrap an additional security layer by activating the two-factor authentication. However, Paxful could improve as far as the number of cryptocurrencies available to trade on the platform.

Buy Crypto on Paxful App With PayPal in Canada: Step-By-Step Guide

Now, we will share the steps you need to follow to buy crypto on the Paxful App with PayPal. This section is handy for beginners who are trying to figure out how to get started.

Step 1: Download the Paxful app and register an account
Step 2: Find an offer
Step 3: Buy Crypto
Step 4: Discuss payment details
Step 5: Send the funds

Buy Crypto Directly on the PayPal App in Canada

Customers in countries like the United States can buy crypto directly from the PayPal app without the need for exchanges or brokers. However, this privilege is not available to the residents of Canada.

Can You Buy Crypto With PayPal Credit in Canada?

You cannot use PayPal credit to buy cryptocurrencies in Canada.

Fees For Buying Crypto on PayPal

Although you cannot buy cryptocurrency directly from PayPal app in Canada, It’s important to be aware of the PayPal fees.

PURCHASE OR SALE AMOUNTPAYPAL FEE
$1.00 – 4.99$0.49
$5.00 – 24.99$0.99
$25.00 – 74.99$1.99
$75.00 – 200.00$2.49
$200.01 – 1000.001.80%
$1000.01+1.50%

Where Can You Use PayPal to Buy Crypto?

Check to see if the country where you live is accepted for buying cryptocurrencies directly on the app.

CountryCan PayPal Be Used to Buy Crypto
AustraliaNo
CanadaNo
EuropeNo
PhilippinesNo
UKNo
USAYes

What Crypto Can You Buy With PayPal?

Although you cannot buy crypto directly from PayPal in Canada, you can still explore the various coins available for purchase directly within this app to see if your desired ones are on the list.

CryptocurrencyLearn More
Bitcoin
Bitcoin Cash
Ethereum
Litecoin

Exchange or a Broker: What Are the Differences When Buying Crypto With PayPal in Canada?

Exchanges and brokers are excellent methods of buying crypto with PayPal in Canada, but there are important differences. We will explore them in the following section to help you determine if the method matches your requirements.

Buying Crypto With PayPal Using an Exchange in Canada

Exchanges are centralized platforms where you can use funding methods like PayPal to purchase crypto.

Pros

Convenient
Reliable
Lots of choices
Many cryptocurrencies available
Excellent user interfaces

Cons

Hacking possibility
Transaction charges
PayPal deposit not available in Canadian exchanges

Buying Crypto With PayPal Using a CFD Broker in Canada

Crypto CFD brokers allow investors to profit from betting on if the price of Bitcoin will increase or decrease over a specified time period. This transaction type does not provide ownership of the asset - it’s purely a speculative transaction.

Pros

No stamp duty
Low barrier to entry
Can invest in rising and falling markets
High leverage

Cons

Investors pay the spread
Poor regulation
High volatility
PayPal deposit not available in Canadian CFD brokers

Is Buying Crypto With PayPal Anonymous?

In most cases, buying crypto with PayPal is not anonymous, as you will learn in the following section.

Can You Buy Crypto With PayPal Without Verification or KYC in Canada?

The majority of methods for buying crypto with PayPal require verification of your identity. This includes buying from the PayPal app, brokers, and exchanges. However, some exceptions like LocalCoinSwap exist that allow you to buy crypto with PayPal without KYC verification in Canada.

Can You Buy Crypto With PayPal Without Registration in Canada?

You will need to register an account with the platforms where you want to buy crypto. For example, platforms like LocalBitcoins have a lengthy registration process and a photo ID verification step before you can buy Bitcoin.

Reason to Buy Crypto With PayPal

When choosing a payment processor to buy crypto, you need to consider the top reasons to figure out the best methods. PayPal is a good choice because it is widely available, there is no deposit fee, and the transaction is processed instantly.

Alternative Payment Options to Buy Crypto With CAD

You might not have access to a PayPal account or dislike the services, so choosing an alternative will be your next step. In this section, we offer a range of alternatives to provide options for everyone.

Buy Crypto With Debit Card, Credit Card, or Amex in Canada

Buying crypto with a debit or credit card also provides instant transaction processing, and they are widely available on most platforms. You can use your debit card to deposit funds on Coinbase and navigate to the spot trading tab to purchase the cryptocurrency of your choice. You can also use Bit2Me to buy cryptocurrencies using a debit card in Canada.

Buy Crypto With Bank Transfer in Canada

Many providers allow customers to deposit fiat currency like CAD using online banking, which is a fast and reliable method of transferring funds. NDAX is an example of a crypto trading platform in Canada that supports bank transfers to buy crypto.

Buy Crypto With PaySafeCard in Canada

PaySafeCard is a good option to buy crypto if you do not have a bank account and want anonymity. No personal information is attached to PaySafeCard purchases, so you can buy crypto without revealing your identity. For example, PaySafeCard is a popular prepaid card that is offered at crypto trading platforms like Paxful.

Buy Crypto With PayPal on Digital Wallets in Canada

Digital wallet services like Neteller, Skrill, and Venmo are convenient and fast methods of depositing money to crypto trading platforms. We couldn’t find cryptocurrency exchanges in Canada accepting digital wallets for making fiat deposits; however, you can use P2P platforms like Paxful that allow you to use your digital wallet like Apply Pay to make the payments.

What to Consider When Buying Crypto With PayPal in Canada

You need to consider a few noteworthy points when buying cryptocurrencies in Canada to ensure you make the right choices. This section will help you set the right expectations during the cryptocurrency buying process when using PayPal.

  • Supports PayPal: Before registering an account with the exchange or brokers, look at the available deposit options to ensure PayPal is accepted.

  • Fees: Look at the fee structures of various crypto trading platforms to find a competitive service.

  • Taxes: You may have to pay taxes when buying and selling cryptocurrencies, depending on your location, so research the local laws. In Canada, file your cryptocurrency activity at the end of the tax year by reporting your capital gains and losses via the Schedule 3 form and crypto income via Income Tax Return T1.

  • Safety: After buying cryptocurrency, you need to decide on the best storage location for safekeeping. Consider transferring the cryptocurrency to a cold storage wallet like Ledger Nano X for added security.

  • Amount: Cryptocurrencies are volatile, so don’t buy more than you can afford to lose.

How to Sell Crypto Using PayPal in Canada

In this section, we have shared the details of how to sell crypto using PayPal in Canada. The simple process allows users to take money off the platform once they are done trading. In this example, we have used Paxful to sell Bitcoin using PayPal, but you can expect a similar process with other platforms.

Step 1: Navigate to the sell Bitcoin page
Step 2: Set the filters
Step 3: Find the offer
Step 4: Sell Bitcoin
Step 5: Discuss payment details
Step 6: Send the Bitcoin

Do All Platforms Accept PayPal to Buy Crypto in Canada?

Unfortunately, PayPal cannot be used as a payment method on all cryptocurrency trading platforms. Moreover, we couldn’t find any exchanges accepting PayPal as the deposit method to buy crypto in Canada. However, you can use P2P platforms like Paxful. Check the complete list below.

ProviderPayPal AcceptedReview
PaxfulYesRead Paxful Review
LocalBitcoinsYesRead LocalBitcoins Review
BinanceNoRead Binance Review
CoinsquareNoRead Coinsquare Review
CoinSmartNoRead CoinSmart Review

Should I Buy Crypto With PayPal in Canada?

Some peer-to-peer platforms accept PayPal as the deposit method for buying bitcoins and other cryptocurrencies, but it is not a popular option in Canada. It is recommended to opt for other methods that are cheap, for example, bank transfer.

Can I Buy Any Other Cryptocurrencies With PayPal in Canada?

It depends upon the number of cryptocurrencies available on a platform. For example, Paxful allows users to buy and sell cryptocurrencies like Bitcoin, Ethereum, and Tether with PayPal. Whereas LocalBitcoins allow buying and selling Bitcoin only.

FAQs

Where is the best place to buy crypto with PayPal in Canada?
Does PayPal accept crypto as a deposit method in Canada?
Is it illegal to buy crypto with PayPal in Canada?
Can you send crypto with PayPal in Canada?
Can you store crypto on PayPal in Canada?
Can you buy crypto with PayPal under 18 in Canada?
Can you buy crypto with PayPal on the blockchain?

David Hany