
PayPal is used by millions of people all over the world for sending and receiving money.
Many people want to know how they can exchange their PayPal to bitcoin easily and instantly.
This guide will simplify all the ways you can use PayPal to buy bitcoins online.
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Last Update May 5th, 2022. PayPal is one of the simplest ways to send money to other individuals and for purchasing goods and services online.
PayPal is also a popular payment method for buying and selling bitcoin in large amounts instantly and efficiently.
While you can purchase bitcoin directly from PayPal, you can also use PayPal with an exchange such as Coinbase or a peer-to-peer marketplace such as Paxful to buy and sell bitcoin for the long-term.
Popular Exchanges To Buy Bitcoin With PayPal Instantly
Free | 102 countries (see full list) | ||
Free, 0.1% to 5% for sellers | Every country except for a few (see banned countries) | ||
Free, $5 withdrawal fee Your Capital is at risk. | Worldwide | ||
Free | Worldwide |
How Can I Buy Bitcoin With PayPal?
If you want to buy bitcoin with PayPal as a payment method you have to find a reputable exchange that will allow you to make a deposit using PayPal as a funding method. These include traditional exchanges, trading platforms, marketplaces, and peer-to-peer lending platforms.
How To Buy Bitcoin With PayPal On Coinbase Summary
- Create an account with Coinbase.
- Verify your account.
- Add PayPal as your payment method.
- Go to “Bitcoin” and select the amount you want to buy.
- Receive bitcoins directly into your Coinbase wallet.
That’s it! You have successfully purchased bitcoin with PayPal as the payment method.
The types of third-party platforms that allow you to buy bitcoin with PayPal include:
Trading Platforms
A trading platform enables users to buy and sell bitcoin and other cryptocurrencies. Many trading platforms accept PayPal as a deposit method.
An example of a trading platform that allows PayPal deposits is Etoro.
Person-To-Person Marketplaces
A person-to-person marketplace connect sellers and buyers so they can trade directly with one another.
To find merchants that accept PayPal as a payment method, you can sign up for a reliable person-to-person marketplace that has an escrow system in place.
An example of a person-to-person marketplace is Paxful.
4 Ways To Buy Bitcoin With PayPal Instantly
There are 4 main platforms that you can use to buy bitcoin with PayPal instantly and securely.
Coinbase
Rating: | |
Website: | coinbase.com |
CEO: | Brian Armstrong |
Headquarters: | San Francisco, California |
Founders: | Brian Armstrong, Fred Ehrsam |
Founded: | 2012 |
Customer service: | Knowledge Base |
More information: | Read Review |
Coinbase is the dominant U.S. cryptocurrency exchange that is known, used and trusted by millions of customers worldwide. The world-class user interface is both colorful and accessible and there is even a mobile app available for Android and iOS.
Coinbase accepts deposits in USD, EUR, GBP, CAN, AUS, and SGD.
Pros
- Established reputation
- User-friendly interface
- High liquidity
- Large purchasing limits
- Strong security
Cons
- Support takes time to respond
- Slow bank transfers
Reputation | Fees | Privacy | Limits |
---|---|---|---|
Excellent | Low | High | High |
Established in 2012, Coinbase is one of the most popular cryptocurrency exchange in the world with over 30 million customers strong. Coinbase makes it simple to exchange funds from any payment method directly into bitcoin.
Coinbase is an easy way for buyers and traders to buy, sell, and trade cryptocurrency with PayPal as the payment method.
How To Use Coinbase
With Coinbase, you can own bitcoin in a few minutes.
Step 1: Create an account with Coinbase.
Step 2: Verify your identity (using photo ID) to prevent fraud or identity theft.
Step 3: Fund your Coinbase account through bank account deposit.
Step 4: You can now send, receive, buy, sell, and store bitcoin.
Paxful
Rating | |
Website: | paxful.com |
CEO: | Ray Youssef |
Headquarters: | New York, New York |
Founders: | Ray Youssef, Artur Schaback |
Founded: | 2015 |
Customer service: | Knowledge Base |
More information: | Read Review |
Paxful is a person-to-person marketplace that supports over 300 payment methods.
Paxful gives vendors the ability to create offers in all currencies.
Pros
- Escrow system
- Security
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers
Cons
- Buyers and sellers are at risk of being scammed
Reputation | Fees | Privacy | Limits |
---|---|---|---|
Excellent | Low | High | High |
Paxful is a peer-to-peer marketplace that works similarly to Localbitcoins and has an escrow system for buyers and sellers to trade securely. To buy bitcoin with PayPal on Paxful, a proposed buyer needs to have a verified USA PayPal account.
On Paxful you can search for merchants who are buying bitcoin with PayPal or sell bitcoin as a vendor and accept PayPal as a payment method. Both of these are high-risk methods. Ask for photo ID and be aware of potential chargebacks if you choose this method.
Most vendors here ask for identification, for verification purposes, before accepting a buyer’s PayPal. Once this is accepted, however, the trading process is simple.
Also note that on Paxful it is possible to buy bitcoin with PayPal with no verification required if you see a seller with the ‘No Verification’ symbol on their offer in search.
How To Use Paxful
To use this platform to buy bitcoin follow the following steps:
Step 1: Create an account with Paxful.
Step 2: Choose PayPal as the desired payment method and indicate your desired amount.
Step 3: Choose your seller. Typically the seller is chosen manually, or you can allow Paxful to select for you.
Step 4: Initiate the trade.
Step 5: The buyer and seller proceed to a chat where the trade agreement processes into an escrow.
Step 6: Once the buyer indicates that a payment was made, the bitcoins are sent from escrow into the buyer’s Paxful wallet. With Paxful, if the trade is not finalized within a stipulated time, usually thirty minutes, the deal will be canceled.
Etoro
Rating: | |
Website: | etoro.com |
CEO: | Yoni Assia |
Headquarters: | London, United Kingdom |
Founders: | David Ring, Ronen Assia, Yoni Assia |
Founded: | 2007 |
Customer service: | Knowledge Base |
Etoro is a multi-asset platform that offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Since 2007, Etoro has been democratizing traditional money management in order to open the financial markets to everyone, everywhere.
Deposits may be made via online bank transfer, wire transfer, e-wallet (PayPal, Skrill, or Neteller), or bank card. Customers may withdraw funds from their Etoro account at any time, and without fees from the platform (though charges from your bank may apply).
Minimum first time deposit for US users is $50 USD and $200 USD for most countries.
Etoro accepts deposits in USD, EUR, GBP, and AUD.
Pros
- Diverse selection of markets
- Excellent reputation
- User-friendly interface
- Great customer support
- Low fees
Cons
- Bitcoins can not be withdrawn
Disclaimer: 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. 67% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Reputation | Fees | Privacy | Limits |
---|---|---|---|
Excellent | Low | High | High |
The Etoro platform is regarded as one of the easiest ways to buy bitcoin with PayPal. While Etoro allows PayPal as a deposit method, buyers will neither be able to withdraw bitcoin to a wallet nor send them to other people.
Etoro is the best option for those who only want to profit from bitcoin’s price volatility and those who don’t need the bitcoin themselves, but the cash equivalent.
Etoro makes it easy to trade top cryptocurrencies commission-free.
How To Use Etoro
To buy bitcoins on the Etoro platform follow these steps:
Step 1: Create an account with Etoro.
Step 2: Verify your account and enable multi-factor authentication.
Step 3: Click “deposit” and select “deposit funds”.
Step 4: Select PayPal as the preferred payment method.
Step 5: Enter the desired deposit amount.
Step 6: Log in to your PayPal account to complete the deposit.
Step 7: Review the transaction details. If content with these, click “pay”.
Step 8: Once your Etoro account has been credited, go to the trading page. Here, choose your preferred market limit order and enter the amount of bitcoin you want to buy.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
75% of retail investor accounts lose money when trading with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Cryptocurrencies are a highly volatile unregulated investment product. No EU investor protection.
eToro USA, LLC does not offer any CFDs and makes no representations and assumes no liability for the accuracy or completeness of the content of this publication, which was created by our partner using publicly available, non-company specific information about eToro.
Wirex
Rating: | |
Website: | wirexapp.com |
CEO: | Pavel Matveev |
Headquarters: | London, United Kingdom |
Founders: | Dmitry Lazarichev, Pavel Matveev |
Founded: | 2014 |
Customer service: | Knowledge Base |
Wirex is a debit card that automatically converts multiple crypto and fiat currencies at the point of sale, letting you seamlessly spend money from your Wirex account in real life, anytime, anywhere.
Once you add money to your Wirex account you can exchange between any of the currencies in-app or online, instantly.
Wirex accepts deposits in AUD, CAD, EUR, CHF, CZK, GBP, HKD, JPY, MXN, SGD, and USD.
Pros
- Multiple funding methods
- Ability to purchase bitcoin at market rate
- Wallet and exchange
Cons
- The initial lag time
- Not supported in all countries
Reputation | Fees | Privacy | Limits |
---|---|---|---|
Great | Low | High | High |
Wirex is a debit card that automatically converts multiple crypto and fiat currencies at the point of sale, letting you seamlessly spend money from your Wirex account in real life, anytime, anywhere.
Once you add money to your Wirex account you can exchange between any of the currencies in-app or online, instantly.
You can fund your Wirex account using a credit or debit card, bank transfer or crypto. Wirex can also be linked to a third-party service such as Curve, Revolut, or Paypal.
How To Use Wirex
To buy bitcoins on this platform, follow the following steps:
Step 1: Create an account with Wirex.
Step 2: Verify the account. Once the account is verified, you will get a free virtual visa card. If you want a physical card, you can order one to be delivered to your home.
Step 3: You need to add a small amount to your virtual visa card. It is also vital that you add the card to your PayPal account.
Step 4: To purchase bitcoin with PayPal, deposit money from your PayPal account to your Wirex account. It could take between one to seven days before the deposit is complete.
Step 5: After crediting your Wirex virtual card, you can use Wirex to purchase bitcoin.
Recap Of The 4 Best Exchanges For Buying Bitcoin With PayPal
The following is a list of the top 5 exchanges which we have already covered in this article for buying and selling bitcoin instantly using PayPal as a payment method. Each exchange is supported in various countries and has its own procedures for setting up an account. Go to the official website of each one to learn more.
Exchange | Founding Date | Supported Countries |
---|---|---|
Coinbase | 2012 | Worldwide |
Paxful | 2015 | Worldwide |
Etoro | 2007 | Worldwide |
Wirex | 2014 | Worldwide |
What Is PayPal?
Originally introduced in 1998 as Confinity and then later X.com in 1999, PayPal was established by founders Max Levchin, Peter Thiel, Luke Nosek, and Elon Musk in 2001 with the goal of becoming a leader in payments. Today, PayPal has amassed over 400 million users and is a global leader in processing and facilitating payments for ecommerce and individuals across the globe.
As a company, PayPal focuses on fraud protection, 24/7 monitoring, and secure encryption technology. PayPal is a popular payment processor and payments system for many reasons including the following:
- Making purchases online and facilitating checkout
- Simplifying and organizing payment methods
- Sending money securely and instantly
- Receiving payments easily and efficiently
- Getting paid from transactions and sales
The PayPal mobile app is available for both iOS and Android devices.
Where Is PayPal Supported?
PayPal is available in over 200+ countries around the world and supports over 25+ currencies. You can view the full list of supported countries here: https://www.paypal.com/en/webapps/mpp/country-worldwide
If you have a question or would like to reach the PayPal customer support team directly you have a plethora of options available to you here.
What Is PayPal’s Stance On Bitcoin?
As of April 26th, 2021, PayPal customers in the United States, excluding Hawaii, are able to buy, hold, and sell the following cryptocurrencies:
- Bitcoin
- Ethereum
- Bitcoin Cash
- Litecoin
Watch the video below to learn more about how cryptocurrencies work on the PayPal platform.
How To Buy, Hold, Sell, And Checkout With Crypto On PayPal
PayPal users with Personal or Premier PayPal accounts are eligible to buy, hold, and sell bitcoin and other cryptocurrencies on the PayPal platform using funds from a linked debit card or bank account, PayPal Cash balance, or Cash Plus balance.
At this time, PayPal business accounts are not eligible to purchase cryptocurrency on the platform.
Step 1: Confirm your identity and fill out a W-9.
Step 2: Select ‘Crypto’ from the dashboard.
Step 3: Buy bitcoin, ethereum, bitcoin cash, or litecoin and hold.
Step 4: If you decide to sell or checkout with crypto, PayPal will automatically convert it into USD at no additional fee.
Where Can I Buy Bitcoin Using PayPal?
You can buy bitcoin directly from the PayPal app using your available funds or linked debit card or bank account. You can also buy and sell bitcoin using PayPal transfer or checkout through any of the aforementioned exchanges, trading platforms, person-to-person marketplaces, or peer-to-peer lending platforms.
- Coinbase is the most popular exchange in the world and is an accessible method for buying and selling crypto on-demand.
- Paxful is a popular marketplace for traders that make a living buying and selling bitcoin. Paxful is also a good marketplace for people who want to try buying bitcoin directly from another merchant.
- Etoro is one of the most popular social trading platforms on the planet for beginning and advanced traders. Connecting a PayPal account to Etoro is painless and instant.
- Wirex is a debit card and app that gives people the power to spend cryptocurrencies in-store or online. A PayPal account can easily be linked to Wirex for fast and efficient deposits.
Apps For Buying Bitcoin With PayPal Instantly
Coinbase, Etoro, Paxful, and Wirex have apps available for download and give customers the ability to buy bitcoin using PayPal as a funding method.
Where Can I Convert Bitcoin To PayPal?
PayPal has had a longstanding relationship with Coinbase dating back to 2016, where customers are able to withdraw their cryptocurrency instantly in the form of PayPal dollars. Around the start of 2020, PayPal began hiring engineers for its Blockchain Research Group (read more), making PayPal, the biggest payments platform in existence, a strong believer in the blockchain as financial technology.
If you are located in the United States, Canada, United Kingdom or European Union, you can convert your bitcoin to dollars on Coinbase and withdraw to your linked PayPal account instantly in USD, GBP, or EUR.
Withdrawal Limits On Coinbase Using PayPal
USD | EUR | GBP | CAD | |
---|---|---|---|---|
Per Transaction | 10,000 | 7,500 | 6,500 | 12,000 |
Per Day | 25,000 | 20,000 | 20,000 | 30,000 |
Conclusion
Buying bitcoin with PayPal might be a riskier means of purchasing bitcoin, but it is a simple way to get started. If you would like to use PayPal as a method of payment, compare the features of the different trading platforms available and use the gathered information to make the choice that is best for you today.