![]() These platforms allow you to buy and sell a wide range of cryptocurrencies, often with lower fees than what you’d pay with PayPal. However, they do come with their own set of disadvantages, such as higher fees, longer wait times for transactions to be processed, and the need to go through a verification process before you can buy crypto.Īnother option is to use a cryptocurrency exchange. These services offer the same ease of use as PayPal and don’t have the same limitations in terms of payment methods, supported countries or cryptocurrencies. One popular alternative is to buy Bitcoin with a credit card through a service like Coinbase, Binance or Bitpanda. Not available in Australia: Despite the fact that PayPal plans to expand this service outside of the US in the future, it's not yet accessible for Canadian accounts as of this time.Īlternatives To Buying Crypto With PayPalĬonsidering that using PayPal to buy cryptocurrency has plenty of disadvantages, you might want to explore other options to buy, sell, and trade cryptocurrencies.Exchange markups: Conversion rates will apply to your purchase, so you'll be buying and selling cryptocurrencies at a small price disadvantage.Limited cryptocurrency support: To date, PayPal only supports 4 tokens, which are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).Not your keys, not your coins: PayPal does not provide access to your cryptocurrency keys, so you won't be able to store your crypto tokens in an external wallet.Higher fees: You'll be charged a fee for each purchase you make, and these fees are frequently higher than those you would expect from a cryptocurrency exchange.Lightning-fast transactions: You can buy and sell crypto through PayPal instantaneously.A wide array of payment options: You can buy crypto through PayPal by using your debit card, your bank account, or using your PayPal account balance.Allows you to track your portfolio: PayPal also allows you to visualize your current crypto portfolio, as well as its total worth.Intuitive: PayPal allows you to buy cryptocurrencies through its app or through the website in as little as a few clicks.Pros & Cons Of Buying Crypto With PayPal Pros This is quite a limited selection when compared to other exchanges and services that support dozens or even hundreds of cryptocurrencies, but PayPal does plan to add more cryptocurrencies in the future. What Cryptocurrencies Does PayPal Support?Ĭurrently, PayPal only supports 4 cryptocurrencies, which are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). So, if possible, make one larger purchase rather than many smaller ones to save money on fees. Buying $200 in cryptocurrency, for example, costs less than purchasing $199 worth of crypto. You may sometimes save money by buying a little more cryptocurrency through PayPal. These are the transaction fees you can expect to incur whenever you buy or sell crypto with PayPal: Buy/Sell Amount (USD) Thoroughly check the transaction details and click the “Sell Now” button to complete the process.(Remember that you can only sell crypto tokens that you've bought through PayPal). Choose the number of crypto tokens you wish to sell.Be aware that you’ll need to confirm some tax information if this is your first crypto sale. Choose the crypto token you wish to sell. ![]() You can also find this page by visiting /myaccount/crypto/.
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