5 Ways to Buy Bitcoin with PayPal

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If you want to buy Bitcoin, there are many avenues you can take across a wide range of platforms. If you are particularly fond of PayPal, there are ways you can source BTC using this world-renowned payment processor. So, let’s discuss where and how you can buy Bitcoins using PayPal.

1. The PayPal app

If you don’t want to worry about downloading a separate cryptocurrency app or opening a new exchange account to buy Bitcoin, you can do so through the official PayPal app or the PayPal website. Note that your ability to buy Bitcoins with PayPal may vary depending on your location.

If you’re using the PayPal app, go to the Finances section at the bottom of the screen. Here you will see the option to buy Bitcoin. You can then see the current Bitcoin price and its price fluctuations between the past day and its launch in 2009. PayPal also provides a brief explanation of what Bitcoin is and how it works.

You can either select one of the pre-suggested amounts when buying Bitcoins on PayPal or manually enter the desired amount.

Note that before buying Bitcoin, PayPal will likely ask you to confirm your US taxpayer status. But don’t worry if you’re not a US citizen or taxpayer – you can still buy Bitcoin through the PayPal app if you live elsewhere. After that, PayPal will provide you with some risks to note and accept before proceeding with your purchase.

PayPal also allows users to purchase Bitcoin Cash, Litecoin, and Ethereum.

2. Coinbase Image Credit: sdx15/Shutterstock

Coinbase is one of the most popular crypto exchanges, so it’s no surprise that you can buy Bitcoin using PayPal on this platform.

To buy Bitcoin on Coinbase, you need to create an account. It also requires you to verify your identity so that Coinbase knows exactly who you are. Many reputable exchanges follow KYC (Know Your Customer) guidelines, which require financial services to verify the identity of all their users to better protect against fraud, money laundering, and other monetary crimes. You can use your passport, driver’s license, or similar document to verify your identity on Coinbase, and this process often doesn’t take too long.

It’s also worth noting that you’ll need to go to your settings to add PayPal as a new payment method before purchasing Bitcoin. To do this, go to Settings > Payment methods > Add a payment method > PayPal.

Once you’ve linked your PayPal and Coinbase accounts, you can buy Bitcoin quickly and easily by heading to the Buy and Sell option at the top of the page. Here you will have a window to select the type of crypto you want to buy and in what quantity.

3. Bitstamp Image Credit: Ivan Radic/Flickr

Bitstamp is another well-known crypto exchange based in Luxembourg. Bitstamp lets you buy Bitcoin (and a range of other cryptos) using PayPal, but there are some preliminary steps you need to follow. First, as with any exchange, you must create an account and verify your identity on Bitstamp before making any transactions.

Once you’ve completed these steps, you’ll need to add a payment method.

First, click on the account avatar logo at the top right of the webpage, then head to Settings. From there, navigate to payment methods and click on the deposit option. Here you can choose to buy with PayPal. Alternatively, you can click on the buy crypto direct option to buy bitcoins using PayPal.

4. CEX.io logo credit: Helldanova/Wikimedia Commons

CEX.io is a London-based crypto exchange accessible in many countries around the world. Using CEX.io, you can purchase a wide range of cryptocurrencies, including Bitcoin, using your PayPal account.

As you might have already guessed, you will need to create a CEX.io account and verify your identity before making purchases. But once you’ve done that, the process is quite simple. First, go to your Wallet page and click on the Buy option. Then, in the Alternative Payments section, click on PayPal. From here, you will be able to select the desired amount of Bitcoin that you wish to purchase using your PayPal account.

5. eToro Image Credit: Marco Verch/Flickr

eToro started out as a traditional exchange but embraced cryptocurrencies in 2014, seven years after its inception. Using eToro, you can buy Bitcoin using PayPal.

First, create an eToro account and verify your identity. Next, go to your account page. This is where you will need to deposit the crypto using PayPal, as eToro does not allow instant payments. You can link your PayPal account by clicking on the options Deposit then PayPal.

Once you have deposited an amount of money into your eToro account, you can easily buy Bitcoin by clicking on the Cryptocurrencies option on the homepage or by searching for Bitcoin via the search bar.

6. Local bitcoins

LocalBitcoins is a peer-to-peer (P2P) exchange that facilitates Bitcoin trading. This platform works slightly differently than the others listed here because you are buying Bitcoin directly from another user, not from the exchange itself. Think of using LocalBitcoins as somewhat similar to eBay in that you deal directly with a seller.

Some sellers on LocalBitcoins accept PayPal as a form of payment, and some do not. If you head over to Buy Bitcoin with PayPal on LocalBitcoins, you will be presented with a list of sellers who accept PayPal.

After creating an account and verifying your identity, you are free to buy crypto from LocalBitcoins. Choose the user you want to buy from, then enter the amount you want to buy. Be sure to note the various factors surrounding the seller, including typical response time, number of past transactions, transaction limit, Bitcoin price, and feedback rating. This will ensure that you are not dealing with a sketchy, absent or unprofessional seller.

Buying Bitcoin with PayPal couldn’t be easier

PayPal is now a widely adopted payment option in the crypto industry, so there are many platforms to choose from if you want to use this method to buy Bitcoin. Consider one of the reputable services above if you want to streamline your crypto purchases using the world’s most popular payment processor.

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