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How To Buy Shiba Inu With PayPal

Last updated 9th May 2022
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Shiba Inu has fast become one of the cryptocurrency community’s favorite tokens. When you want to buy Shiba Inu there are a few different options you can choose from. Paying via Paypal is one of the latest ways users can now buy Shiba Inu. Not only do a good selection of platforms now accept this payment method, but Paypal as a service also allows you to buy certain cryptocurrency assets. When buying Shiba Inu with Paypal you should keep in mind that, because you are dealing with a third party, there could be fees on both the platform you are buying your asset on in addition to Paypal. Secondly, trade sizes are usually the smallest on offer when using a third-party payment service.

That’s why we have put together this guide for you to navigate the best way to buy Shiba Inu using Paypal. We have included all the information you could need, from how-to guides, platform reviews, and some of the most popular FAQs.

Top Shiba Inu Brokers That Accept PayPal

Your first step when buying Shiba Inu with Paypal is to choose a platform to trade from. There are many platforms to choose from when it comes to buying cryptocurrencies, so 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 Shiba Inu With Paypal?

You will find that there is currently a good range of platforms that accept Paypal as a payment method, whether that's an exchange or a broker. Paypal can be a convenient way to buy assets if you are already a regular user of this service. However, it is worth noting that not all brokers and exchanges may accept Paypal as a payment method so you will have to check for each individual platform. In this next section, we will go into the specific details regarding what platforms accept Paypal payments for Shiba Inu and how you can use them.

What Crypto Platforms Accept Paypal?

Here are the best ways that you can buy Shiba Inu using Paypal. Together they make up the most common ways for users to buy cryptocurrency.

  • Cryptocurrency Brokerages: Brokerages are the most centralized trading option available to you. They set the prices of the assets that you trade and also will charge a fee for a range of different activities. Brokerages are perhaps understood as more trustworthy, especially big institutions like eToro.

  • Cryptocurrency Exchanges: Here, you can generally perform the same activities as you can with a broker, but in a slightly more direct fashion. Crucially, the key difference here is that an exchange is linking together buyers and sellers who are the actor setting the price. Fee structures are also totally different from brokerages as they don't charge commissions, but instead, charge through the maker and taker fees (whether you are providing liquidity to the network or consuming it).

  • Peer-to-peer (P2P) Marketplaces: P2P marketplaces are the most direct option to trade with. Here you are directly matched up with buyers and sellers, but the critical difference is there is no making and taking of liquidity, instead sales and purchases are direct and bilateral. Usually, fees are minimal for P2P marketplaces.

How To Buy Shiba Inu With PayPal?

Here we have created some simple step-by-step guides to show you how you can buy Shiba Inu with Paypal. As we have shown, there is a wide range of different interfaces and platforms you can use so we have included the two most important: brokerages and exchanges.

Cryptocurrency Brokerages

  • Step 1: Find a good broker, like eToro for example, and sign up for an account. You will need to enter an email address and password.

  • Step 2: After entering your details, you need to provide an ID for the KYC regulation process. This includes an official ID, proof of address, and a picture of yourself.

  • Step 3: Once your account has been accepted, you can deposit funds using any of the available deposit methods; you then need to select the tab that says deposit with Paypal.

  • Step 4: Then, follow the relevant steps, inputting your details in and following any guidance provided by the exchange. You may also need to provide some form of verification from your bank.

Cryptocurrency Exchanges

The process of buying a cryptocurrency can be complicated, especially if you are new to the space. Check out this step by step guide for how to buy Shiba Inu using Paypal:

  • Step 1: Go on the official exchange website and sign up for an account. You will need to enter an email address and password.

  • Step 2: After entering your details, you need to provide an ID for the KYC regulation process. This includes an official ID, proof of address, and a picture of yourself.

  • Step 3: Once your account has been accepted, you can deposit funds using any of the available deposit methods; you then need to select the tab that says deposit with Paypal.

  • Step 4: Then, follow the relevant steps, inputting your details in and following any guidance provided by the exchange. You may also need to provide some form of verification from your Paypal account.

How to Deposit and Withdraw Via Paypal

Deposit

A good range of platforms now accepts Paypal as a method of deposit. For example, eToro supports this method, and here are the steps you need to follow to do it:

  1. Locate the Funds tab.

  2. Choose the currency and the amount you want to deposit.

  3. Select Paypal as the payment method.

  4. Click ‘Submit’.

Withdraw

You will find that the most popular platforms are the ones that support Paypal as a payment method. For example, eToro accepts it. Here are the steps you need to follow to withdraw funds from the eToro platform:

  1. Locate the Withdraw Funds tab.

  2. Enter the amount to withdraw (in USD) - you may withdraw the amount you have in your account minus the margin you have used.

  3. Complete the electronic withdrawal form as required.

  4. Click “Submit”

What Should I Look for in a Paypal Shiba Inu Broker?

  • Fee Charges: Some brokers allow you to use Paypal to purchase Shiba Inu but make sure you always check and compare what platforms will charge you as third-party payment services have the potential to be costly.

  • Variety of Trading Options: You want to ensure you can pay by Paypal, but you still want to make sure you’re trading with a good broker that offers a good range of assets. This is partially true when you are looking to buy a cryptocurrency like Shiba Inu - brokerages are only just starting to offer this product. Also using Paypal for your transactions can sometimes limit the volumes of the trades you make.

  • Speed and Ease of Use: When you are buying Shiba Inu you want transactions to be as simple to make as possible, and for them to be executed quickly and efficiently. Popular broker eToro for example has a friendly interface and good transaction speeds.

  • Trust and Security: Arguably one of the most important elements of trading, your broker must be trustworthy and have good security measures in place. Look out for features like 2-factor authentication, loss insurance, and KYC regulations to improve your level of protection.

  • Cross-device Compatibility: Most platforms now offer services on mobile, web, and desktop. Not only is this convenient for you, but also it is a sign of a good broker. For example, eToro supports all of these devices.

Should I Buy Shiba Inu Using Paypal

Pros

Extremely user friendly
Paypal is a very trusted and secure financial service
A very convenient method for users that already actively use Paypal

Cons

Can incur a high fee from the platform you are using
Will almost always limit the trade size you can make
Not widely accepted across platforms

Is Using PayPal the Best Method To Buy Shiba Inu?

No. Using Paypal as a payment method is convenient for regular users of the service and has an extremely user-friendly interface, but beyond this, it would struggle to compete with other methods available to you. Firstly, if you wish to trade big then Paypal will definitely restrict you - this is actually a common theme with third-party payment methods. Secondly, you can incur fees using this method to buy Shiba Inu. While some popular brokers won’t charge you, like eToro for example, others may do - again, a common theme with third-party payment methods.

While this method is definitely one of the most user-friendly, it can significantly damage your returns on trades.

What Are the Alternative Payment Methods To Buy Shiba Inu With?

Here is a list of some of the other ways in which you can buy Shiba Inu:

  • Credit/Debit Cards: Use your credit/debit card to directly buy Shiba Inu. Can incur some fees but is extremely convenient and you are also susceptible to interest rates when using a credit card.

  • Bank Transfer: Transfer funds directly from a bank account linked with your chosen platform. One of the most expensive ways to deposit funds but very convenient and accessible to beginners.

  • Crypto Transfer: Connect a wallet to your platform that already has crypto funds. By far the cheapest method but can be difficult for beginners.

Final Thoughts

When buying Shiba Inu using Paypal can be a nice option for those who already use the platform and have funds in there, but we advise avoiding this. Not only could you incur fees from the platform you use, but also your available trade sizes will be somewhere around the lowest on offer - a common theme of third-party payment methods. Additionally, Paypal is only supported by a select number of exchanges and brokerages, so the choice of platforms and assets available to you may significantly decrease when using Paypal as your chosen method.

If you do wish to use this method because of its convenience then make sure to compare the fee structures of different platforms and make the most informed decision you can. Remember that trading can incur high risk, and certainly, an asset of Shiba’s volatility is subject to this.

Paypal is certainly growing into the crypto space; more platforms now accept it as a payment method and they also offer crypto services directly on its platform interface. But for now, there are cheaper and more versatile options available to you when buying Shiba Inu.

FAQs

Can I Buy Shiba Inu Anonymously With Paypal?
How Fast Is Buying Shiba Inu With Paypal?
Do I Need a Crypto Wallet?
Are There Low Fees When Using Paypal to Buy Shiba Inu?
Can I Hold Shiba Inu in My Paypal Account?
Can I Buy Other Cryptos Using Paypal?
Can I Buy Shiba Inu With Paypal Instantly?
Is Paypal the Easiest Way to Buy Shiba Inu?
Does Coinbase Accept Paypal?
Joshua Sherrard-Bewhay

Joshua Sherrard-Bewhay

Josh is a finance and Blockchain technical writer with experience in project design, consultancy and reporting. He is well-versed in white paper design, blog construction and freelance journalism. His academic credentials are in International Relations, Environmental Regulation and International Law. In his spare time he works as a sustainability analyst for a FinTech start-up Oxari and a private English tutor.