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Buy Ethereum With PayPal in Canada

Last updated 20th Dec 2022
Disclosure

The information in this detailed post will help you figure out the best ways to buy Ethereum 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 two providers for buying Ethereum with PayPal in Canada are Paxful and LocalCoinSwap.

Top Ethereum 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 Ethereum With PayPal in Canada

Established in 2015 by a team of developers, the goal of this platform was to make it easy to acquire Ethereum. 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 Ethereum 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 Ethereum 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 Ethereum using PayPal in Canada. Furthermore, you cannot buy Ethereum directly from the PayPal app as this feature is limited to the US and US territories only.

Best Brokers to Buy Ethereum With PayPal in Canada

Currently, brokers in Canada are not accepting PayPal as the deposit method to buy cryptocurrencies in Canada. But there are some other ways to try if you want to buy cryptocurrency with PayPal in Canada.

Best CFD Brokers to Buy Ethereum With PayPal in Canada

An alternative way to invest in Ethereum 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 Ethereum or any other cryptocurrency.

Best Ethereum Exchanges to Buy Ethereum with PayPal in Canada

Ethereum exchanges are platforms that can be used to buy and sell Ethereum 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 Ethereum or any other cryptocurrency.

How to Buy Ethereum With PayPal on an Exchange in Canada

Ethereum is the second largest cryptocurrency in terms of market capitalization; hence you will readily find it on almost any crypto exchange in Canada. To buy Ethereum with PayPal on these exchanges, you will need to register for a new account and complete the KYC verification process to start depositing funds.

Note that not all Ethereum exchanges accept PayPal as a deposit method, so you will need to confirm the accepted payment methods before creating an account. Once the account is created, you will need to navigate to the deposit page and select PayPal as the payment method.

How to Find Ethereum on an Exchange: To find Ethereum on an exchange, you need to navigate to the trade section of the platform. Since Ethereum is the most popular cryptocurrency, it might automatically appear, or you will need to search it using a search bar.

Altcoins

Some altcoins cannot be purchased directly using fiat currency in your account, but you can buy them with Ethereum. Simply buy Ethereum by following the steps outlined in the process above and search for the altcoin you wish to acquire. Next, click on the buy button and choose the amount of Ethereum you would like to trade for the altcoin.

Likewise, you can buy Ethereum with other cryptocurrencies that you are holding without the need for PayPal. To complete this process use the search bar to find Ethereum on the trading platform. Note that the available cryptocurrencies for trading with Ethereum will differ between exchanges.

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 the decentralized exchanges.

Best Ethereum P2P Platforms to Buy Ethereum With PayPal in Canada

The P2P platforms connect users directly to buy and sell cryptocurrencies such as Ethereum. In the table below, you can see the top 2 Ethereum P2P platforms:

ExchangePayPal Fee (CAD 1000)
🥇 Paxful$0
🥈 LocalCoinSwap$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 Ethereum as well. If you would like to buy some other cryptocurrencies apart from Ethereum, take a look at the guides below:

LocalCoinSwap - Has the Highest Trading Volume

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 Ethereum 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 & wallet selection
Step 6: Complete the transaction

Best Apps to Buy Ethereum 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 only best app for buying and selling Ethereum with PayPal is Paxful.

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

Paxful sits on top of the shelf because of a large number of payment methods, 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 Ethereum on Paxful App With PayPal in Canada: Step-By-Step Guide

Now, we will share the steps you need to follow to buy Ethereum 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 Ethereum
Step 4: Discuss payment details
Step 5: Send the funds

Buy Ethereum Directly on the PayPal App in Canada

Customers in countries like the United States can buy Ethereum 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 Ethereum With PayPal Credit in Canada?

You cannot use PayPal credit to buy Ethereum in Canada.

Fees For Buying Ethereum 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 Ethereum?

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?

Learn about the various coins available for purchase directly within the PayPal 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 Bitcoin With PayPal in Canada?

Exchanges and brokers are excellent methods of buying Ethereum 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 Ethereum With PayPal Using Exchange in Canada

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

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 Ethereum With PayPal Using a CFD Broker in Canada

Ethereum CFD brokers allow investors to profit from betting on if the price of Ethereum 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 Ethereum With PayPal Anonymous?

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

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

The majority of methods for buying Ethereum 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 Ethereum with PayPal without KYC verification in Canada.

Can You Buy Ethereum With PayPal Without Registration in Canada?

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

Reason to Buy Ethereum With PayPal

When choosing a payment processor to buy Ethereum, 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 Ethereum 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 Ethereum With Debit Card, Credit Card, or Amex in Canada

Buying Ethereum 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 Ethereum 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 Ethereum With PaySafeCard in Canada

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

Buy Ethereum 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 Ethereum With PayPal in Canada

Before buying Ethereum with PayPal, you need to be aware of a few considerations. These ensure you understand the process and what to expect:

  • Must Support PayPal: Make sure to choose a provider that supports PayPal as a method of adding funds.

  • Fees: Most providers do not charge a fee for adding money with PayPal. However, a fee might be charged for withdrawals to PayPal. Compare these extra fees to get the best deal.

  • Taxes: You may have to pay taxes when buying and selling Ethereum, 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: Consider where you will keep the Ethereum after the purchase. Decide if you want to hold it on the platform or transfer it to your wallet for safekeeping.

  • Amount: Ethereum is relatively volatile compared to fiat currency. Therefore decide on the amount of Ethereum that you are comfortable with buying.

How to Sell Ethereum Using PayPal in Canada

In this section, we have shared the details of how to sell Ethereum 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, but you can expect a similar process with other platforms.

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

Do All Platforms Accept PayPal to Buy Ethereum in Canada?

We couldn’t find any exchanges accepting PayPal as the deposit method to buy Ethereum in Canada. However, you can use P2P platforms like Paxful. Check the complete list below.

ProviderPayPal AcceptedReview
PaxfulYesRead Paxful Review
LocalCoinSwapYesRead LocalCoinSwap Review
BinanceNoRead Binance Review
CoinsquareNoRead Coinsquare Review
CoinSmartNoRead CoinSmart Review

Should I Buy Ethereum With PayPal in Canada?

Some peer-to-peer platforms accept PayPal as the deposit method for buying Ethereum 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 Ethereum with PayPal in Canada?
Does PayPal accept Ethereum as a deposit method in Canada?
Is it illegal to buy Ethereum with PayPal in Canada?
Can you send Ethereum with PayPal in Canada?
Can you store Ethereum on PayPal in Canada?
Can you buy Ethereum with PayPal under 18 in Canada?
Can you buy Ethereum with PayPal on the blockchain?

David Hany