How to buy Bitcoin with PayPal

This guide explains all about how to use PayPal as a payment method for Bitcoin. Find out which brokers accept it, and how to choose between them.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue… read more.
Updated: Jun 23, 2021
Tip: our preferred broker is, eToro: visit & create account

PayPal is becoming more widely accepted as a payment method across the world, and it’s increasingly popular as a way to pay for cryptocurrency too. This page explains what makes a good trading platform, and how to use PayPal to fund it.

Where can you buy Bitcoin with PayPal?

If you just want to dive in and get started, then all these brokers below accept PayPal. These are the best of the best, reviewed by our team of experts so that you can be confident in whichever one you choose. If you want to learn more about how to buy Bitcoin with PayPal first, scroll down to keep reading.

1
Min. Deposit
$200
Exclusive promotion
User Score
10
Access the world’s most popular Crypto assets including Bitcoin, ETH, LTC, XRP.
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options available (not available to US users)
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 20+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Borneo Exchanger, Bradesco, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China UnionPay, ClickandBuy, Contact, Contact Z, Credit Card, Cryptocurrencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Halcash, I-Account, IPS, Ideal, Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, Mailing Cash, Masari, Mastercard, MegaTransfer, Mister Cash, Moneta, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, WebMoney, WebPay, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full regulations list:
AMF, ASIC, CySEC, FCA
Cryptoasset investing is unregulated in most EU countries and the UK. No consumer protection. Your capital is at risk. CFD crypto trading is unavailable for clients residing in the UK and US.
2
Min. Deposit
$1
Exclusive promotion
User Score
9.3
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Description:
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Payment Methods
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Bonds, Borneo Exchanger, Bradesco, CEX.io Mobile App, CFDs, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China Union Pay, China UnionPay, ClickandBuy, Commodities, Contact, Contact Z, Credit Card, Cryptocurrencies, Currencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, ETFs, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, Forex, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Halcash, I-Account, IPS, Ideal, Indices, Individual US State License(s), Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Investmate, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, MT4, MT5, Mailing Cash, Market Maker, Masari, Mastercard, MegaTransfer, Mister Cash, Mobile Trading App, Mobile Trading Platform, Moneta, Money Bookers, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Stocks, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Trade Interceptor, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, USD, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, Web Based Trading Platform, WebMoney, WebPay, Webtrader, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, Array, cTrader, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eToro Mobile Trading Platform, eToro Trading Platform, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full regulations list:

What’s the difference between broker platforms, exchanges, and wallets?

There are lots of differences, and that means that the best platform for you depends on your goals, timeframes, and whether you already own cryptocurrency. Here we explain each one in more detail.

Exchange

An exchange is a marketplace for buyers and sellers. They connect people who want to get Bitcoin with those who want to sell it and facilitate trades – known as ‘peer-to-peer transactions’ between them. On an exchange the price is set in real time by supply and demand. That means it’s constantly changing, and in general exchanges are targeted at more advanced users as they offer lots of detailed information on the price screen.

Broker platform

A broker is much simpler, as it offers Bitcoin at a fixed price so that you can buy or sell it instantly. The trade-off is that it charges fees – either in the form of a cost per trade or by setting the price a bit higher than the market – for that simplicity. Brokers also tend to offer contracts for difference (CFDs), which let you trade Bitcoin without actually owning the coins themselves, and are ideal for anyone with a short term view.

Wallet

A wallet is essentially a bank account: it is an address that stores cryptocurrency and allows you to send or receive it to/from other wallets. Every wallet comes with two separate strings of numbers and letters known as ‘keys’: a public key (used to receive bitcoins) and a private key (used to send bitcoins to other wallets). You need these if you ever want to move coins around – don’t lose them!

Therefore, if you want to use PayPal to get Bitcoin at a competitive rate and capitalise on fluctuations in price, you’ll want to sign up to an broker platform. The key difference between these two types of service is that on an exchange you buy and store the coins yourself, whereas with a broker (or CFD) platform you trade Bitcoin without actually owning them.

What’s the difference between PayPal and Bitcoin?

PayPal is a payment method, whereas Bitcoin is a digital currency. Through PayPal you can send and store fiat currency (such as GBP or USD), much like a bank – but with a more specialised focus. Its core service offering is near-instant global transfers with minimal to zero transfer fees. Albeit, that’s changing rapidly too.

Although not without similar features, Bitcoin is on an entirely different playing field. Bitcoin is a self-supported decentralised currency. Like PayPal, Bitcoin enables near-instant transfers with very low fees, but transactions on the Bitcoin network use the digital currency bitcoin rather than normal cash to make payments. Because no countries have officially recognised this as a currency, certain features of PayPal – such as invoices for businesses – are not yet possible.

Why isn’t PayPal more widely accepted?

There are many reasons platforms don’t allow you deposit money with PayPal. One central problem is that PayPal honours ‘chargebacks’, whereas Bitcoin cannot do so. This leads to a disconnect between the two services as it’s difficult to stop spending money through PayPal, getting a refund to their account, and then keeping the coins.

From PayPal’s perspective, there’s also concern about Bitcoin’s link to criminal activities. A contract wherein a user could purchase bitcoin directly with PayPal, and vice versa, could make it easier for criminals to conduct illegal activities – and harder for authorities to track. This anonymity is central to Bitcoin, but it makes some companies uncomfortable.

Is using PayPal the best method?

Not necessarily, but we understand not everyone has the option of a credit or debit card. If you have a particular exchange you’re looking to use, then it’s possible it won’t even be an option at all because PayPal is not as commonly accepted.

However, if you find a broker platform that lets you use PayPal, you’ll get the same safe, fast, and secure transactions that you get when you use it anywhere else. Win win!

How to buy Bitcoin with PayPal – a step-by-step guide

Now you know what your options are, you need to know how to actually use PayPal on a trading platform. That’s why we’ve outlined all the steps right here. If you’re already familiar with how it’s done and have specific questions you need answering, then skip to our frequently asked questions section at the bottom of the page.

What do I need to do before I get started?

You’ll need to provide some information to sign up to a service. Bitcoin is completely anonymous, but in order to verify your account and to combat fraud, there are a few things you need to have with you. To get started you need to prepare your:

Method of payment

Whether you buy BTC with PayPal, credit/debit card, or bank transfer, you’ll need to have your account details to hand and make sure there are no restrictions on payments of that type through your chosen service.

Proof of identity

You’ll almost always be asked to supply valid photo ID to prove your identity when signing up to a platform. A passport or driving license is most commonly required and you’ll often be asked to supply a selfie of you next to it to verify it’s yours.

Proof of address

Along with photo ID you’ll be asked to supply proof of your address, generally in the form of a utility bill or a bank statement. If you don’t have access to these documents, others are sometimes accepted. This will, however, depend on the platform so be sure to check you have the right forms of ID before signing up to a particular service.

Exchange or broker platform

Now decide which type of platform you want to use. Consider what you want to get out of your investment, and then find the service that best matches your aims from the summaries above.

The final steps

Alright, you’re ready to sign up get started. Here are the last few steps you need to take:

  1. Visit site and open a free account. Select a service from our list and click the link. Once you’ve arrived on your chosen platform, select the option to register an account.
  2. Fill out personal details. Fill out the required details to register a new account. This will usually be your name, email address, and country of residence. On most platforms this form will also be where you set your account password. If not, then:
  3. Create password. It’s very important to have a solid password, especially on an exchange as your account will be used to store your bitcoins. Make sure to include a mixture of letters and numbers and make your password memorable. In a few cases there won’t be an option to create a password at this stage. This will mean one has been randomly generated and in your confirmation email (see next step) there will be a link to change your password. Make sure you do this as nothing is more important than the safety of your account.
  4. Activate account. In the majority of cases the next step is to check your inbox for an account verification email which will include a link to activate your account. As mentioned above, for some services this will also be the point at which you set or change your password.
  5. Fund account or make payment. In most cases you’ll have to transfer money into your account balance, and in other cases you’ll be able to make a direct payment. Either way, there are a variety of methods to pay for your bitcoin. We’ve summarised them for you here:
    • Bank transfer. You’ll need to acquire the destination bank details from the site, key in your own account details and the amount of money you wish to transfer. Bank transfers commonly take between 1 and 5 days to go through.
    • Card payments. Depending on the platform you’ll either have to add your card details to your account, or simply enter your card details and make a one-off payment. The process is the same as using your card on any online shopping site.
    • PayPal/other. If your platform accepts PayPal (many of them don’t), then you’ll simply have to select the option to pay with PayPal. This will direct you to a page that will enable you to pay from your PayPal into the account you’ve created on the platform. You’ll want to ensure that your PayPal account is active, funded and has no restrictions.
  6. Make your purchase. If you’ve made a payment, congratulations! If you’ve transferred funds into your account then you’re just one small step away: simply follow the link on the platform to find the current Bitcoin price, enter how much of it you want, and use the money in your account to execute the transaction.
  7. Additional: Withdraw to wallet. If you’re using an exchange to buy, you’ll need to set up a wallet to which they can send your coins. If you’re using an exchange there will be an integrated wallet you use to store and trade coins, but you can create an external wallet into which you can transfer coins for extra security. If you’re using a CFD platform, you don’t need a wallet as the coins are handled within the platform. 

Should I buy BTC with PayPal?

Pros

  • PayPal is a simple and fast way to acquire bitcoins
  • Once you own Bitcoin, you can use it to spend anonymously online
  • Transactions with PayPal are secure
  • Bitcoin is immune from fiat currency inflation
  • Bitcoin can be used as a swap for other cryptocurrencies

Cons

FAQs

ℹ Can Bitcoin replace PayPal?
ℹ Is Bitcoin better than PayPal?
ℹ Can I send Bitcoin to PayPal?
ℹ Can you get other cryptocurrencies using PayPal?
Does Coinbase accept deposits from PayPal?
ℹ Can you convert Bitcoin to GBP or USD using PayPal?
ℹ Will buying bitcoin using PayPal actually work?
ℹ Can I remain anonymous?
ℹ Why are there no easier ways to get Bitcoin?
ℹ What’s the fastest way to get a hold of Bitcoin?
ℹ What are the fees for transactions?
ℹ What are the fees for depositing funds?
ℹ What are the fees for withdrawing funds?
ℹ Where do I find coins?
ℹ Should I leave my coins on an exchange once I own them?
ℹ If the limits aren’t high enough, can I get coins on multiple exchanges?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.