Buying Bitcoin with PayPal (Beginner’southward Guide)

By: Ofir Beigel | Last updated: 12/22/22

Until recently, there were limited options to buy Bitcoin with PayPal, mainly due to chargeback issues (here’s a short video illustrating this). However, recently PayPal has become more than favorable of Bitcoin. In this postal service I will cover several credible places to buy bitcoins with PayPal in 2023.

How practise I Buy Bitcoin with PayPal Summary

While buying Bitcoin directly through PayPal is possible, nevertheless meliorate alternatives exist for those who wish to use PayPal as a payment method but. The
best alternative for buying Bitcoin with PayPal is via Bitstamp or CEX.IO. Another option would be eToro, which is more recommended for users who mainly wish to speculate on price rather than owning actual coins.

Finally, you can utilise Paypal via LocalBitcoins, although this method requires you to detect an private seller y’all can trust.

eToro disclaimer:
This advertising promotes virtual cryptocurrency investing inside the Eu (by eToro Europe Ltd.), UK (eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in some EU countries and the Uk, no EU or UK consumer protections & not supervised by the European union or Britain regulatory framework. eToro USA LLC; Investments are subject to market take a chance, including the loss of principal.

79% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you tin can afford to take the high risk of losing your coin.

CFDs are not bachelor to The states customers.

If you want a more than detailed explanation well-nigh each method keep on reading. Hither’due south what I’ll cover:

Buying Bitcoins Directly through PayPal
Buying Bitcoins with PayPal using Bitstamp
Ownership Bitcoins with PayPal using CEX.IO
Ownership Bitcoins with PayPal using eToro
Ownership Bitcoins with PayPal using Coinbase
Ownership Bitcoins with PayPal using LocalBitcoins
Buying Bitcoins with PayPal using Paxful
Ofttimes Asked Questions
Decision

1. Buy Bitcoin directly through PayPal

Pros:

Low risk, very
loftier maximum limits

Cons:

But the Us is currently supported for withdrawals

In Oct 2020, PayPal rolled out direct purchases of Bitcoin (and three other cryptocurrencies) inside the PayPal digital wallet, through a partnership with Paxos.

This allows users to concur and sell Bitcoins purchased through the service, likewise equally apply them to pay PayPal-supported merchants. As of June 2022, PayPal also allows users to withdraw their coins into third-party wallets for personal storage or wider use throughout the ecosystem. It’s worth mentioning that this selection is currently only available for U.s.a. users, with more countries due to be added over fourth dimension.

Maximum limits are $x,000 per week with no annual limit, while fees vary between one.5% and 2.iii%, depending on the size of the purchase.

How to Buy Bitcoin Straight on PayPal

Sign up for an account, if you don’t already utilise PayPal
Click on “Purchase and Sell” under the “Your crypto” section (available only to supported locations)
Click on “Bitcoin” and “Buy”
Enter the amount of Bitcoin you lot want to buy
Select your payment method and click “Adjacent”
Check the conversion rate and transaction fee.

That’south information technology! Click ‘Purchase now’ to confirm the buy and the coins should be available in your PayPal digital wallet.

two. Buy Bitcoin with PayPal through Bitstamp

Pros:

Very well-established, highly trustworthy

Cons:

Cannot withdraw back to PayPal (withal), lower limits than other platforms

Bitstamp is one of the oldest and best-respected cryptocurrency exchanges today, being in operation since 2011.

The platform supports PayPal for Bitcoin purchases if y’all’re a resident in the US or EU, and pay with EUR, USD, and GBP.

There’south a limit of upwards to $2,500 daily and a cap of $20,000 per calendar month. Fees on PayPal purchases are 5% of the full purchase corporeality, which is loftier (only not uncommon) for the payment method.

It should be noted that as of writing, users cannot withdraw coin straight back to their PayPal business relationship upon selling their Bitcoin – they volition accept to opt for an culling fiat withdrawal method.

Click hither to read a full review of Bitstamp and its services.

How to Buy Bitcoin with PayPal through Bitstamp

Select Bitcoin from the assets page, then click Buy with PayPal. Alternatively, you tin click “Direct Crypto Purchase” on the Eolith folio.
Enter the fiat amount you wish to spend, and then click on “Buy with PayPal”.
You’ll be directed to the PayPal login screen, where you tin link your PayPal account with Bitstamp.
Ensure that the proper noun associated with your PayPal account is the same as the one y’all’ve used to register your Bitstamp account.
Ostend the transaction. Your accounts will be successfully connected, and the buy can be completed.

Visit Bitstamp

Read review

iii. Purchase Bitcoin with PayPal through CEX.io

Pros:

Established & regulated exchange, great reputation

Cons:

Lower daily limits than other options, not bachelor worldwide

CEX.io is a well-established exchange that has been around since 2013. It’southward known to be highly reliable and is well-regulated, but is also as well known for relatively loftier fees.

On the plus side, CEX.io offers Bitcoin purchases via PayPal at competitive pricing. This tin can be done via CEX.io’due south “Purchase” pick within the wallet app, or on the exchange using the “Instant Buy” feature.

PayPal purchases on CEX.io are limited at a maximum of $one,000 daily, or a minimum of $20. Fees include a lowered 1.49% service accuse for GBP deposits made by United kingdom of great britain and northern ireland residents, or ii.99% to 3.99% plus a variable service fee for other countries, depending on the country.

A listing of countries supported for PayPal purchases on CEX.io can be institute at the lesser of this page.

Click here to read a total review of CEX.io and its services.

How to Purchase Bitcoin with PayPal through CEX.io

Navigate to the CEX.io Instant Buy service.
Select BTC in the “Buy” dropdown carte du jour, then select the fiat currency yous wish to purchase information technology with.
Enter the amount of Bitcoin that yous wish to buy, or select one of the pre-calculated suggestions.
Click “Buy” and select PayPal as your payment method and click “Log in with Paypal” to link your PayPal account.
Select PayPal as your payment method over again, then click “Buy with PayPal”.
Consummate the purchase inside the PayPal business relationship window.

All done! When the transaction is completed, yous’ll exist able to see the updated Bitcoin balance in your CEX.io account.

Visit Cex.ioRead review

4. Purchase Bitcoin with PayPal through eToro

Pros:

Relatively low fees, a variety of payment methods accustomed

Cons:

Not available worldwide,
withdrawing profits in crypto is complicated

I of the easiest culling ways to buy Bitcoin with PayPal would be through eToro, simply only for a limited purpose. While the platform volition allow you lot to buy bitcoins with PayPal,
withdrawing them to your wallet will have an extensive corporeality of time and steps.

In other words, eToro is better suited to speculate on Bitcoin’south price rather than for buying the actual coin for using it. If yous’re just looking to profit from toll swings and don’t require the actual bitcoins, this is probably the easiest and cheapest way to go. If, however, you need the actual bitcoins to purchase stuff or send them to another person, keep reading for an alternative selection.

Keep in mind that if you utilise eToro for speculation, yous don’t actually need a Bitcoin wallet. You can read my full eToro review here.

IMPORTANT!
Cryptocurrencies can widely fluctuate in price and are not appropriate for all investors. Cryptocurrency trading is not supervised by any European union regulatory framework, your capital is at hazard.

Visit eToro
Read review

eToro disclaimer:
This ad promotes virtual cryptocurrency investing within the Eu (past eToro Europe Ltd.), UK (eToro UK Ltd.) & USA (past eToro The states LLC); which is highly volatile, unregulated in some European union countries and the UK, no EU or UK consumer protections & not supervised by the European union or Uk regulatory framework. eToro Us LLC; Investments are bailiwick to market adventure, including the loss of main.

79% of retail investor accounts lose coin when trading CFDs with this provider.

You should consider whether y’all tin can afford to accept the high risk of losing your money.

CFDs are not available to US customers.

5. Purchase Bitcoin with PayPal through Coinbase

Pros:

Well-trusted platform, loftier limits

Cons:

Cannot purchase from PayPal residual directly, The states customers but

Coinbase, one of the world’s most trusted cryptocurrency exchanges, began accepting PayPal every bit a means of payment in 2022. Unfortunately, as of writing, Coinbase doesn’t permit users to purchase directly using their PayPal balance, just rather through a debit bill of fare or bank account that is linked to their PayPal account. This is somewhat restrictive. On the brilliant side, the maximum daily limits are dainty and loftier at $25,000 per twenty-four hours.

Fees for using PayPal to brand a debit carte du jour purchase on Coinbase are four% of each merchandise, while bank deposits via PayPal cost ii.v%.

Coinbase users may besides withdraw fiat from Coinbase to their PayPal business relationship. Yous tin read my full Coinbase review here.

Visit Coinbase

Read review

6. Buy Bitcoin with PayPal through LocalBitcoins

Pros:

A broad variety of sellers from around the world

Cons:

Poor exchange rates, boosted chance of dealing direct with individuals

LocalBitcoins, different eToro, is a marketplace where buyers and sellers connect directly. When yous use LocalBitcoins, yous’re dealing with an actual person, which means that the seller’south credibility is some other thing to lookout out for.

As for fees, sellers will usually charge a premium since they’re taking a big take chances of buyer chargebacks. The upside is that yous will usually get your bitcoins faster. You can read my full LocalBitcoins review hither.

Visit LocalBitcoins

Read review

How to Use LocalBitcoins

Stride 1 – Enter your search parameters

The outset step will be to get to LocalBitcoins and enter how many bitcoins y’all desire to buy and from which country. Since LocalBitcoins was originally made for people to meet face to face up, there’s no “worldwide” search, which is a shame. You have to get through each state, one at a time.

Step two – Choose your seller

On the side by side screen, yous’ll run across a list of bachelor sellers, yous can at present browse them one past one.

localbitcoins user

Some of the things I’d cheque before trusting a seller are:

Feedback score
How many confirmed trades does this seller have?
How old is the business relationship?
How many people trust this seller?
How many people blocked this seller?

In the end there’s no real measurement to help you evaluate how reliable a seller is. Yous will demand to utilize common sense after reviewing their complete details.

Step three – Complete the trade

Once you’ve found your seller, you’ll be taken to the trade screen. There you’ll be able to see information nearly the user’s trade limits, location and payment window (How much time y’all have for sending funds and marking the payment washed after you initiate a trade).

It’s also super of import to read the terms of merchandise for the specific seller located on the right side. Hither’s an example:

terms of trade local bitcoins

Some sellers will require that you take an initial reputation in order to purchase from them to avoid scams or fraud. This means that you might have to conduct some pocket-size transactions to build your reputation.

Once you lot went over all of the data and made sure information technology suits yous, just enter how many bitcoins yous desire to buy and click “Send merchandise asking.” trade request

It’southward crucial to conduct all communications within LocalBitcoins and preferably use their escrow services (which are triggered automatically for all online sales). While this method is relatively fast, it may have some time to gain enough reputation and find a seller.

7. Buy Bitcoin with PayPal through Paxful

Pros:

Wide diverseness of sellers from around the world

Cons:

Poor substitution rates, additional gamble of dealing with individual sellers

Paxful is a very similar platform to LocalBitcoins. Information technology’southward a peer-to-peer marketplace that allows y’all to buy Bitcoin with almost anything (e.k., Skype credits, Amazon gift cards). The procedure of ownership bitcoins at Paxful is pretty simple:

Visit paxfulRead review

How to Use Paxful

Create an business relationship.
Verify your identity.
Choose a payment method for buying and the desired corporeality.
Cull your seller. Yous can either choose manually, or permit Paxful make up one’s mind who is the best seller for you.

Once the merchandise initiates, you will be sent to an online chat with the seller, where you tin can finalize the deal. The seller’south bitcoins will be sent into escrow, and in one case you mark that you’ve sent your payment, they will be released into your account. Proceed in mind that if you don’t finalize the bargain within a certain timeframe (usually 30 minutes), the bargain will be automatically canceled.

You lot can read my

full Paxful review here
.

8. Frequently Asked Questions

Can I Buy Bitcoin with Paypal on Coinbase?

Yes. Though it requires a debit carte or a banking concern transfer, Coinbase allows you to purchase Bitcoin, as well every bit sell and withdraw the rest to your Paypal account.

Tin can I buy any other crypto with PayPal?

You tin can also use LocalMonero or LocalCryptos to purchase Monero or Ethereum with PayPal however the aforementioned rules and downsides apply – you’ll probably pay high fees and it may be difficult to find apparent sellers.

I found an boosted method not listed here, is it legit?

From time to time, I see many new sites that allow you to apply PayPal for Bitcoin purchases. Personally, I’k very skeptical of such sites and advise yous to treat them with caution. Reputation goes a long manner when it comes to cryptocurrencies, and the methods I’ve described above take all been tried and tested by me.

Moreover, the companies that are described in this post accept been effectually for at least three years and have proven they are here to stay. Having said that, experience free to list what you’ve found in the comment department below and we’ll requite yous our stance of it.

9. Decision – Can I Employ Paypal to Buy Bitcoin?

There are several ways you tin can buy Bitcoin with PayPal, the easiest existence through the actual PayPal platform. Some other alternatives also permit you to purchase coins using PayPal as a payment method, such asCoinbase

and
LocalBitcoins
.
eToro

is

also a very convenient choice, but is more suitable for users who are looking to speculate on cost rather than actually withdrawing their coins.