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How To Buy Bitcoin With PayPal

Last updated 9th May 2022
Disclosure

Bitcoin (BTC), the world’s first decentralized cryptocurrency, is still the largest by market capitalization by far.

In this guide, we uncover the best ways to buy Bitcoin with PayPal along with some other important considerations to keep in mind.

Top Bitcoin Brokers That Accept PayPal

Bitcoin is by far the most popular cryptocurrency so you’ll find there are many platforms to choose from. Below we have listed the top providers to help you get started right away.

1
eToro
Minimum Deposit
$200
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
Coinbase
Minimum Deposit
$50
Exclusive Promotion
User Score
6
Trade and invest in over 25 cryptocurrencies
Extremely simple user interface
Over 68 million customers

Can You Buy Bitcoin With PayPal?

You can buy and sell cryptocurrencies, including Bitcoin directly from PayPal’s native platform.

If you have an existing account, click on the ‘Crypto’ tab and enter the amount of Bitcoin you would like to purchase. While this feature is available in many jurisdictions, it’s best to check first.

You can also use PayPal as a payment method on other platforms that let you buy Bitcoin.

What Crypto Platforms Accept PayPal To Buy Bitcoin?

If you want to use PayPal as a payment method on other cryptocurrency services, here is a list of platforms where it is accepted.

  • Cryptocurrency Brokerages: eToro, Plus500

  • Cryptocurrency Exchanges: Coinbase

  • Peer-to-peer (P2P) Marketplaces: LocalBitcoins

How To Buy Bitcoin With PayPal?

Here, you will find a step-by-step guide on how to buy Bitcoin with PayPal.

Cryptocurrency Brokerages

  1. Find a brokerage platform that offers Bitcoin markets like eToro.

  2. In the top right corner, click ‘Join Now’ and enter your details

  3. Provide ID to verify your account and choose PayPal as the preferred payment method.

  4. Deposit some money into the platform by following the onscreen instructions and using the search bar to find the BTC markets.

  5. Once in, enter the amount of Bitcoin you wish to buy and confirm the transaction.

Cryptocurrency Exchanges

  1. Find an exchange that offers Bitcoin like Coinbase.

  2. Click ‘Get Started’ in the top right corner.

  3. Enter your details and provide an ID to verify your account.

  4. Once logged in, go to the payment methods page and enter your PayPal details.

  5. Deposit money into your exchange account and use the search bar to find the BTC markets.

  6. Enter the number of BTC you wish to buy and confirm the transaction.

  7. The coins should appear in your account balance shortly after.

How to Deposit and Withdraw Via PayPal?

Deposit

This will depend on the platform you choose. But the process is similar to the ones listed above.

Withdraw

You are unable to withdraw your Bitcoin directly from the PayPal platform. To withdraw via PayPal, you need to close your existing positions by selling into a fiat currency such as USD or GBP and following the onscreen instructions to have the money transferred back into your account.

What Should I Look for in a PayPal Bitcoin Broker?

There are some important considerations to be made before you select a broker. These include but are not limited to:

  • Fee Charges: Find a platform that offers the lowest fees for the services you require. This can help you get more value for your money.

  • Ease of Use: Read online reviews to gauge how easy a platform is to use. Through this, you can avoid platforms that are difficult to navigate. eToro, for example, is beginner-friendly.

  • Reputation: Regulated platforms with good customer reviews are preferred as they comply with certain guidelines and standards that can help to protect your money.

  • Availability: Always first check that the platform offers not only the coin you want to purchase but the payment method too.

  • Speed of Transaction: Check reviews for complaints about transaction speeds on the platform you’re contemplating using.

Should I Buy Bitcoin Using PayPal?

Pros

If you have an existing PayPal account, then the process is quick and familiar
Buying from the app means you can avoid the technical side of crypto in terms of setting up a wallet and interacting with the blockchain
PayPal offers a high level of security and protection for its users

Cons

PayPal is not as widely accepted as other forms of payment
You cannot withdraw your crypto assets from the PayPal platform
There may be some geographical limitations on which users can use PayPal for crypto purchases

Is Using PayPal the Best Method To Buy Bitcoins?

Bitcoin is one of the four cryptocurrencies that are available for direct purchase from the PayPal platform.

It is also accepted on a number of popular cryptocurrencies platforms however, it is not the most widely accepted method. The next section takes a look at the alternatives.

What Are the Alternative Payment Methods To Buy Bitcoin With?

There are dozens of different payment options that various crypto brokers accept. Still, many of them are not nearly as good as PayPal. If you’re seeking the most valuable alternative to PayPal, take a look at some of the options below.

  • Neteller — Neteller is also an e-wallet, and it’s often considered the second most popular one after PayPal. Some users even prefer Neteller to PayPal. Check out our guide to buying Bitcoin with Neteller to see which one you prefer.

  • Apple Pay — If you’re an Apple device user and located in one of the eligible countries for using Apple Pay, you can reap the benefits of the popular mobile payment option. Check out our guide to buying Bitcoin with Apple Pay to see which one you prefer.

  • Google Pay — Google Pay is the main competitor to Apple Pay. It’s also an excellent mobile payment method reserved for Android users. Check out our guide to buying Bitcoin with Google Pay to see which one you prefer.

  • Credit and Debit Cards: Credit and debit cards are widely accepted forms of payment.

  • Bank Transfer: A direct bank transfer is a generally widely accepted form of payment across platforms.

There are many more ways to buy Bitcoin online, check out these guides to learn more:

Final Thoughts on Buying Bitcoin With PayPal

PayPal is a great method for buying Bitcoin if you want to avoid the technical side of dealing with cryptocurrencies if you set aside the added steps to withdrawing your BTC.

However,

Remember that gains are not guaranteed and only invest with money you can afford to lose.

FAQs

Can I use PayPal to buy bitcoin?
Can I buy Bitcoin anonymously with PayPal?
How fast is buying Bitcoin with PayPal?
Do I need a crypto wallet?
Are the fees low when using PayPal to buy Bitcoin?
Can I hold cryptocurrency in my PayPal account?
Can I buy other cryptocurrencies using PayPal?
Can I buy Bitcoin with PayPal instantly?
Is PayPal the easiest way to buy Bitcoin?
Does Coinbase accept PayPal?
What are the best Bitcoin exchanges that accept PayPal?
Can I transfer BTC to PayPal?
Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.