How to Buy Crypto with PayPal: A Step-by-Step Guide for 2024

Why Buy Crypto with PayPal?

Buying cryptocurrency with PayPal offers a fast, familiar, and secure way to enter the crypto market. With over 400 million active users, PayPal simplifies transactions by letting you use your existing account balance, debit card, or bank-linked funds. This method is ideal for beginners who want to avoid complex bank transfers or credit card approvals.

How to Buy Cryptocurrency with PayPal (Step-by-Step)

Step 1: Choose a Crypto Exchange That Accepts PayPal

• PayPal’s Native Service: Buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash directly in your PayPal account (U.S. only).
• eToro: Supports PayPal deposits for 80+ cryptocurrencies.
• Coinbase: Allows PayPal purchases for USD deposits.
• Binance: Accepts PayPal via third-party payment providers.
• Other Platforms: Gemini, Uphold, and Bitstamp.

Step 2: Create and Verify Your Account

• Sign up with your email and password.
• Complete KYC verification by submitting a government ID and proof of address.

Step 3: Link PayPal to Your Crypto Exchange

• Navigate to the exchange’s payment methods section.
• Select PayPal and log in to authorize the connection.

Step 4: Buy Cryptocurrency

• Select your preferred crypto asset.
• Enter the amount in USD or choose a crypto quantity.
• Confirm the transaction (funds deduct from your PayPal balance or linked source).

Step 5: Store Your Crypto Securely

• Keep small amounts on exchanges for quick trading.
• Use non-custodial wallets (e.g., MetaMask, Ledger) for long-term storage.

Pros and Cons of Buying Crypto with PayPal

Pros

• Instant transactions
• No bank transfers required
• Strong buyer protection policies

Cons

• Higher fees (up to 3.5% per transaction)
• Limited coin selection
• Not available in all countries

Tips for Safe Crypto Purchases via PayPal

• Enable two-factor authentication (2FA) on PayPal and your exchange.
• Verify transaction details before confirming.
• Avoid public Wi-Fi when accessing accounts.
• Monitor for phishing emails impersonating PayPal.

FAQ: Buying Crypto with PayPal

Can I withdraw crypto bought via PayPal?

Only select platforms like eToro and Binance allow transfers to external wallets. PayPal’s native service restricts withdrawals.

What are the fees?

Fees range from 1.5% to 3.5%, depending on the platform and transaction size.

Is there a purchase limit?

Yes. PayPal limits crypto purchases to $20,000 per week for verified users.

Which cryptocurrencies can I buy?

Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are widely available. Some exchanges offer additional coins.

Can I sell crypto via PayPal?

Yes. Platforms like PayPal and eToro let you sell crypto for fiat, which can be withdrawn to your bank account.