How to buy Bitcoin with PayPal in 2024

Follow this guide to learn how to turn your PayPal balance into Bitcoin. Use our expert guidance to find the best and cheapest way to buy Bitcoin with PayPal.
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Updated: Feb 7, 2024
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Firstly, the most important question to answer is: can I buy Bitcoin with PayPal?

Yes, you can. The best and cheapest way to buy Bitcoin this way is to sign up to a crypto exchange that lets you make deposits via PayPal.

If you’re based in the UK or the US, then you can buy Bitcoin through the PayPal platform as well, though PayPal charges higher fees for crypto transactions than other exchange platforms. You can expect to pay twice as much in fees through PayPal than an established crypto exchange.

We recommend that you sign up to a crypto platform and buy Bitcoin with PayPal that way. There’s a guide on how to do that below. However, if your preference is buying crypto on PayPal directly, then there’s a guide on how to do that, too.

Where to buy Bitcoin with PayPal

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1
Min. Deposit
$ 10
Best offer
User Score
10
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2
Min. Deposit
$ 100
Best offer
User Score
9.9
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3
Min. Deposit
$ 0
Best offer
User Score
9.4
No Hidden Fees
Instant Trading
Secure & Transparent
Start Trading
Payment Methods:
Apple Pay, Bank Transfer, Credit Card, Debit Card, Google Pay, PayPal
Full Regulations:

How to buy crypto with PayPal

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Buying crypto with PayPal is a simple process that is largely the same across all exchange platforms. This guide explains how to create an account, make your first deposit, and buy Bitcoin with PayPal.

  1. Choose a crypto exchange that accepts PayPal deposits. We recommend eToro as the best place to buy crypto with PayPal. Alternative, choose one of the top PayPal crypto exchanges and start there.
  2. Create an account and verify your identity. Provide some basic personal information, such as your email address and contact number, to sign up. You will also have to verify your identity before you can use your new account, and you can do so with a copy of some photo ID, such as your driving licence.
  3. Make a deposit via PayPal. Go to the ‘bank’ or ‘account’ tab to make a deposit. Enter the deposit amount and choose PayPal as the payment method. You will be redirected to PayPal, where you have to sign in to confirm the transaction.
  4. Search for Bitcoin and enter the order details. From your newly funded exchange account, search for Bitcoin using its ticker symbol, BTC. Choose the result that corresponds with the currency you want to pay with – BTC/USD if your account is funded with dollars, BTC/GBP or BTC/EUR if it is funded with euros or pounds.
  5. Purchase Bitcoin. Enter the details of your trade. Decide how much you want to buy, whether you want to buy at the current rate – a ‘market order’- or only buy when the price hits a certain level – a ‘limit order’. Check the details and press ‘buy’ to confirm your purchase.

Top platforms to buy Bitcoins on PayPal, reviewed

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1. eToro. Best for beginners, copy-trading & demo-account

1%

Fees

$50

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade for UK & EU users (not US, real assets only)
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Highlights

Visit eToro eToro Review

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

2. Plus500. Best for international CFD trading*

From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Bitstamp. Best for professionals & trading with APIs

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether

Overview

We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand. 

Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.

The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.

Highlights

Visit Bitstamp Bitstamp Review

4. OKX. Best for futures and margin trading

...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.

How to buy crypto on PayPal directly

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Signing up to a crypto exchange and making a deposit via PayPal is one option. However, if you live in the US or the UK you can buy Bitcoin on PayPal directly.

It’s free to create a PayPal account, but you have to link it to your mobile phone and email address. After that, buying Bitcoin is relatively simple and should only take a few minutes.

1. Create a PayPal account.

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You must have a Paypal account to buy crypto through the platform. Create an account by supplying your email address and mobile phone number to get started. You can download the PayPal app to do this through your phone if you prefer. PayPal accounts are free, so you don’t have to pay anything to sign up and start trading Bitcoin.

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You can either deposit funds into your new account via a card payment or link it to a current bank account. Either way, you need to set up some method of accessing money or make sure your PayPal balance is high enough so that when you purchase through PayPal it can pay for your new crypto.

You won’t have to pay a transaction fee to deposit money and the funds should be available on PayPal instantly.

3. Go to PayPal’s ‘Discover Crypto’ section.

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Sign in to reach PayPal’s crypto home page, or use the search bar to navigate to the right page. This basic page lets you learn more about crypto and how to trade BTC safely through the links on the right-hand side. It also provides a list of the available four cryptocurrencies and you need to choose one of them to start the buying process.

4. Click the Bitcoin button.

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Select Bitcoin from the list of available options. The Bitcoin page shows you some basic details about the coin, such as its price, historical data, and a short summary of how it works. Click ‘buy’ or choose from one of the fixed amounts underneath to make your purchase. The first time you do this you will be prompted to answer some questions about your financial situation, tax status, and to confirm your identity.

5. Execute the trade to buy Bitcoin with PayPal.

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Confirm the details of your trade; how much you want to spend, how much Bitcoin you want to receive, and when you want the trade to go through. Then execute the trade. Click on the ‘wallet’ tab in the main menu to see your Bitcoin in your portfolio.

Now you own Bitcoin in your PayPal wallet! You can use this money to buy things, you can simply hold it and wait for the price to go up, or you can send money to your friends.

How much does PayPal charge to buy and sell Bitcoin?

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PayPal is one of the more expensive ways to buy crypto. You can expect fees of around 2% on each transaction, although there are cheaper rates on offer for larger trades. Here are PayPal’s fees compared to eToro, another leading exchange platform.

Transaction amount ($)PayPal feeeToro fee
1 – 24.99$0.501%
25 – 1002.3%1%
100.01 – 2002%1%
200.01 – 1,0001.8%1%
1000.01 +1.5%1%

Quick answers to key questions

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Can I store Bitcoin in a PayPal crypto wallet?

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Yes, you can. However, PayPal is limited as a crypto wallet. It does not offer the same security as a dedicated wallet, which is self-custodial (where only you can access the money via your private key).

The PayPal wallet is a good option for beginners who buy cryptocurrency and store it in small amounts, and it does offer some protection against unauthorized transfers, but anyone investing more should think about something more secure.

PayPal now integrates with a number of third-party crypto wallets. We recommend you use the likes of MetaMask, Ledger, Phantom, or Magic to store your coins if you plan on holding onto them for a while.

Can I send Bitcoin from PayPal to my wallet?

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Yes, if you’re based in the US you can transfer crypto from PayPal to another wallet. This feature was added in 2022 after being one of the ‘most requested enhancements’, according to PayPal itself. You will have to pay a network or blockchain fee to make a crypto transfer from PayPal to an external wallet, but there are no other fees.

Here’s how to send money from PayPal to a crypto wallet:

  1. Log into PayPal and choose the cryptocurrency you want to transfer
  2. Click the transfer symbol and click ‘send’
  3. Enter the wallet address you want to send the money to (you can scan a QR code or enter the long wallet address yourself)
  4. Confirm the transfer.

Can I buy other cryptocurrencies on PayPal?

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There are five digital currencies available on PayPal. Bitcoin is the most popular but there are three more you can buy too:

  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)

PayPal also has its own stablecoin, ‘PayPal USD’ (PYUSD), where 1 PYUSD is equal to 1 US Dollar. It’s mainly used to swap between the other crypto tokens available on PayPal, but you can buy it simply to own it yourself if you want.

Which is better: buying Bitcoin with PayPal or buying on cryptocurrency exchanges?

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A cryptocurrency exchange is almost always the better option when it comes to purchasing crypto. It’s cheaper and there are more ways to pay.

Buying crypto through PayPal itself is an option for beginners, as it’s a user-friendly way to buy your first coins. For all its many strengths when it comes to fiat currency, PayPal is severely limited as a crypto exchange and you have to perform a full ID check and answer questions about your tax status to be allowed to make a purchase.

There are no analysis tools available on PayPal and no means of swapping between cryptocurrencies. You can’t use another crypto, like ETH, to buy BTC, or vice-versa. Similarly, its Bitcoin wallet is much less secure than any standard crypto wallet where you keep control of your own private keys.

Is there an alternative to buying cryptocurrency with PayPal?

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There are lots of other ways to buy Bitcoin that don’t require PayPal. The easiest and most popular option is to buy BTC with a debit card or a bank transfer. However, many brokers also accept other payment methods, especially in Europe. Here are some other ways to pay.

Find your broker

FAQs

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Why is PayPal getting involved in cryptocurrency trading?
Can I buy BTC with PayPal without verification?
Can I store BTC in my PayPal account?
Can I buy Bitcoin with PayPal in the EU?
Can I pay with crypto using PayPal?
Can you buy Bitcoin with the PayPal app?
Why don’t all exchanges accept PayPal?
Does Coinbase accept PayPal?
Does Binance accept PayPal?
OK, I’m ready to choose a broker

Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.