How to buy Litecoin with PayPal in 2022
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PayPal has become a popular way to buy cryptocurrencies including Litecoin and lots of brokers accept it as a payment method. Use this beginner-friendly guide to learn how to buy Litecoin with PayPal using our step-by-step guide and find the top brokers around who accept it as a payment method.
Can you buy LTC with PayPal?
Yes, there are lots of brokers that accept PayPal as a way to deposit funds which you can then use to buy Litecoin. You can also use PayPals platform to purchase Litecoin directly. It also acts as a cryptocurrency wallet where you can store your coins. You can read our in-depth guide on how to buy cryptocurrency with PayPal by visiting our page here.
Where can you buy Litecoin with PayPal?
We’ve compiled a list of top-rated brokers that let you deposit money with PayPal. You can check them out in the table below, or keep reading to find out more about how to use them.
How to buy Litecoin with PayPal – a step-by-step guide
If you want to buy Litecoin with PayPal you can use the handy step-by-step guide below to get started.
- Create a PayPal account. The first step you need to take is creating a PayPal account. You can head over to the PayPal website where you’ll need to fill in your contact details and register an account.
- Link PayPal to your bank account or card. If you want to use PayPal you will need to link it to your bank account or bank card. This is a simple process and all you need to do is visit the ‘paid and get paid’ section of your account and enter your banking information.
- Search for Litecoin on PayPal. Navigate to the crypto homepage on the PayPal website and search for Litecoin using its ticker symbol, LTC. Once there, you’ll be taken to the Litecoin trading page where you will be able to place your order.
- Execute the trade. You will now be able to place your trade. To do this decide how many coins you want to buy, or how much fiat you want to spend. Enter your trade details into the order ticket and click buy. Your order will be executed and your coins will appear in your PayPal crypto wallet.
Top platforms that accept PayPal
Not only can you use PayPal to buy Litecoin directly, you will also find a lot of brokers and exchanges that accept it as a way to deposit funds. Below we have selected three of the top platforms to buy Litecoin right now using PayPal. We’ve explained the benefits of each broker or exchange and a quick explanation of how to use PayPal with them.
Use PayPal with eToro
eToro is a popular broker and it offers a wide range of assets including stocks, forex, commodities, and cryptocurrencies. It has a growing number of coins including Litecoin and using PayPal as a way to deposit funds is an easy process.
To buy Litecoin with eToro using PayPal, all you have to do is log into your account and navigate to the deposit page. Here you’ll be able to choose your preferred method of payment, (PayPal) and enter the amount you wish to deposit. Once your account is funded, simply search for the ticker symbol LTC and enter the amount of coins you wish to purchase and hit the buy button.
If you use PayPal to deposit funds into your eToro account you won’t have to pay any fees. Although, when it comes to withdrawing money you may have to pay a fee. eToro charges a flat fee of $5 for any withdrawal and they have a minimum amount of $30. Depending on where you are located, you may encounter other fees too.
Use PayPal with Coinbase
Coinbase is one of the top cryptocurrency exchanges around and has over 20 million users. An exchange is like a giant marketplace where you can trade coins with other users. Using Coinbase you can buy and sell coins, store coins in a wallet, and spend them using its own debit card.
Using PayPal as a way to deposit money into your Coinbase account is an easy process. Before you start you will need to verify your identity by providing a form of photo identification.
To link your PayPal account to Coinbase you will need to visit the settings section of your Coinbase account. Here select payment methods and choose PayPal. Then click ‘link account’ and you will be able to use PayPal to send funds to Coinbase. It’s important that your Coinbase registered email is exactly the same as your PayPal one.
Use PayPal with Binance
Binance is another cryptocurrency exchange that lets you buy and sell coins with other users. It has one of the largest selections of coins around, with over 500 available to trade including Litecoin.
Using PayPal to deposit funds into Binance is a straightforward process. Before you start you will need to make sure your account is fully verified by providing a form of identification. Once verified, simply head over to the deposit money section and choose PayPal as your method. You will then be able to transfer funds from PayPal to Binance.
Should I use PayPal to buy Litecoin?
Yes, you could consider using PayPal to buy Litecoin. PayPal only offers four coins at present and Litecoin is one of them. It’s a well regarded and secure platform making it a top choice to buy Litecoin with. One of the added benefits of using PayPal is you are able to add it to most brokers and exchanges as a payment method.
PayPal has an easy to use platform and app making it easy for beginners to make their first cryptocurrency purchases. Buying LTC directly on PayPal does involve some fees, however they are competitive with most exchanges or platforms. There are usually no fees charged when using PayPal to deposit funds with a broker.
What are the fees for buying LTC with PayPal?
Depending on the size of your Litecoin purchase you’ll pay varying fees. For any purchase below £25, you will be charged a rate of £0.5. Anything over £25 and up to £1000 will be charged a 2.3% fee, while anything over £1000, the rate drops to 1.8%.
If you decide to use PayPal with a broker or exchange, you will usually not have to pay a fee to deposit. However, most platforms charge a fee for withdrawing money to your PayPal account although this can vary between brokers. It’s a good idea to check the terms and conditions with your chosen broker before you use PayPal.
Why don’t more brokers or exchanges support PayPal?
A lot of brokers do support PayPal and the number keeps on growing. Most of the top brokers or exchanges accept PayPal and even newer or smaller platforms have started to integrate it as a payment method. Since PayPal started offering its customers a way to directly purchase cryptocurrencies, it has increased its popularity in the crypto industry.
Alternative payment methods
If you dont want to use PayPal to buy Litecoin, there are lots of different payment methods available. You can use debit cards, bank transfers, and other payment providers like Swish or Payoneer which are tailors to specific geographic regions.
Yes, but you will need to check with your broker and this will be specific for each platform. Although, you may find you pay no fees, you should always consider the spread (the difference between the buy and sell prices).
You do not necessarily need a crypto wallet. Litecoin brokers and exchanges will often allow you to store your coins in your account without the need to transfer those coins to a personal wallet. However, some services will require you to enter an existing wallet address where the coins will be sent.
For a higher level of security, it is a good idea to move any coins you’re not planning on selling or trading in the near future to an external wallet – ideally a hardware wallet.
It usually takes just a few minutes. In some cases, it can be done even faster.
Yes you can, but you need to do your research. Only a select few services offer instant, straight transactions where you can buy direct from your PayPal account.
Yes. You can buy 4 coins currently using your PayPal account and you can store them in your PayPal wallet.
Yes, you are able to select PayPal as a deposit and withdrawal option on Coinbase.
Yes. On PayPal you can buy 4 coins, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. But you can use PayPal to deposit funds into the top exchanges where you can buy hundreds of different coins.
Yes. If you want to buy Litecoin on PayPal, you will find its platform one of the easiest to use. The crypto section of the PayPal website also has lots of beginner-friendly information about the cryptocurrency market.
Fact-checking & references
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