PayPal is a fast and safe way to pay online and nowadays you can easily use PayPal to buy Bitcoin. There are different ways of doing this—using PayPal as the payment method on a crypto broker or exchange platform, paying with PayPal on a peer-to-peer (P2P) marketplace, or buying Bitcoin through PayPal directly.
There are pros and cons to all of these methods, but using an exchange or broker provides the best all-around Bitcoin purchasing experience regarding important factors like security, fees, and useful tools and features.
If you want to know how to buy Bitcoin with PayPal, this guide will take you through each method step by step and help you pick the best option for you.
The easiest way to buy Bitcoin with PayPal is to purchase it online from a crypto exchange that accepts PayPal. Exchanges make it easy to buy and sell Bitcoin and other cryptocurrencies using PayPal directly from your smartphone, tablet or computer. Follow the steps below to safely buy Bitcoin with PayPal.
Choose a reliable platform (such as one of our recommendations below) and click the sign-up button. Fill in your details on the registration form and if necessary, verify your phone number/email address and identity with a photo ID.
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Once your account has been verified, go to the deposit page. Enter the amount you wish to deposit and select PayPal as the payment method. Type in your PayPal password when prompted and hit “Deposit” to transfer the funds.
Find the trading pair on your platform for BTC and the currency in your account. Simply type in the amount you wish to purchase and click the “Buy” or “Trade” button. Your Bitcoin will be transferred to your account immediately.
After researching and analysing the different ways of buying Bitcoin with PayPal, we’ve come up with our top five recommendations below. Each method includes a step-by-step guide to simplify the process and help you get started.
eToro is a multi-asset social investing platform and a great place to purchase Bitcoin with PayPal. It takes our top spot due to its reliability, ease of use, low fees, and innovative and unique features.
Click the “Join Now” button on the website and fill in a username, password, and email address on the registration form that pops up. Once you’ve accepted the terms and conditions, you can hit “Create Account”.
Verify your email address by clicking the link emailed to you and complete your profile by providing extra details such as your name, date of birth, address, phone number, and proof of identity. You will also need to answer questions about your investing experience.
Click the “Deposit Funds” button, enter the amount you want to deposit and select your local currency. Choose PayPal from the dropdown list of deposit methods and click “Continue”. You will then be redirected to PayPal where you’ll need to log into your account to confirm the transaction.
Use the search bar at the top to look for Bitcoin and hit the “Trade” button. You can switch to “Order” if you want to choose a future price to buy BTC at. Otherwise, just type in how much you want to purchase and click “Open Trade”.
eToro has built a strong reputation over the many years it has been in operation. As a regulated platform, it is trusted by millions of users globally, while its cold storage and industry-leading security practices make it one of the safest places to buy Bitcoin.
The BTC charts and research available may be useful for advanced traders, but the simplicity of the Bitcoin buying process means the platform is also perfect for beginners. What’s more, you won’t be charged a deposit fee when you use PayPal or any other payment method.
There is, however, a withdrawal fee of $5, and unfortunately, PayPal isn’t available as a deposit option in every country. There is a 1% fee plus spread on Bitcoin purchases.
If you’re not quite ready to make a deposit yet, you can switch to virtual trading to practise and get familiar with the platform. You can also make use of eToro’s unique CopyTrader feature to replicate the actions of the best Bitcoin traders around the world. Read our full eToro review.
Pros
More accessible than many platforms
Buy Bitcoin anonymously
High liquidity
No fees
Escrow
Free wallet
Mobile app
Cons
Users must watch out for scammers
More complicated to use than other platforms
You may not get the best exchange rate
Coinbase is a secure online platform for buying Bitcoin and more than 150 other cryptocurrencies, including Bitcoin Cash, Ethereum, Litecoin and Tether. It prides itself on being one of the easiest platforms to use, with its clear layout, simple navigation, and low trade minimums making Coinbase the ideal place for beginners to purchase Bitcoin with PayPal.
Click the “Get started” button on the Coinbase website and fill in your name, email address, and provide a unique password. Sign in to Coinbase by clicking the verification link emailed to you, then provide your mobile phone number and enter the code you receive by text.
Enter your name, date of birth, and address as shown on your government-issued ID and answer a few questions about your job and investing. In Settings, under Account limits, click “Verify photo ID”, select your ID type, and follow the instructions to upload it as a file or with your webcam or mobile camera.
In Settings, go to Payment methods and click “Add a payment method”. Select PayPal and you will be redirected to PayPal where you will need to log in. You can now use PayPal to make a deposit (if you are a US customer).
Find Bitcoin on Coinbase and hit “Buy”, or click the “Buy / Sell” button at the top and select Bitcoin. If not using already deposited funds, choose PayPal as the payment method. Simply enter the amount you wish to purchase, click “Preview Buy”, and then hit the “Buy Now” button.
Coinbase is a great platform to use if you’re just starting your crypto journey. It’s easy to navigate and the buttons are clearly laid out. What’s more, you don’t need to risk a lot of capital as you can buy as little as $2 or £2 worth of Bitcoin.
The fees are competitive at up to 0.6% plus spread and you can take advantage of the recurring buys feature if you want to automatically purchase Bitcoin with PayPal on a regular basis.
Unfortunately, only US customers can currently use PayPal to purchase Bitcoin and make deposits. There is a 3.99% fee for making purchases via PayPal on Coinbase, or a 2.5% fee when using PayPal to make a deposit. Users in the UK and Europe can use PayPal to cash out.
You can add Bitcoin to your Coinbase watchlist to keep up with the latest moves in the market, and if you want access to more advanced trading tools and indicators, you have the option to switch to the Coinbase Pro platform. Read our full Coinbase review.
Easy to use
Clear layout
Low minimum order size
Recurring buys feature
150+ other cryptocurrencies to trade
Regulated and secure
Minimum deposit higher than some competitors
Fees for using PayPal are significant
PayPal purchases/deposits unavailable in UK and Europe
Binance is a popular platform for buying crypto with PayPal, especially for more experienced traders. There are over 600 other cryptocurrencies on Binance so it’s a great place to build a diverse crypto portfolio including new and obscure coins.
Click the “Register” button at the top of the website. You can sign up with Apple or Google, or click “Sign up with phone or email”, after which you’ll have to select your country and provide an email address or phone number and password. Enter the verification code sent to your email address or phone number.
Hover over your user icon at the top right and select Identification. Click “Verify” under Identity Verification and select your country. Fill in your details and select your ID type. You will then need to upload an image of your ID or take a photo of it and let Binance access your webcam to confirm your identity through facial recognition.
Go to your dashboard and select the Payment tab on the left. Click “Add a payment method” and then “More” to find and select PayPal. Input your Paypal accounts information and authenticate it with a verification code.
Go to Binance P2P under Buy Crypto or Trade. Make sure to select, “Buy”, “BTC”, and your local fiat currency. You can choose PayPal as the method and also filter by amount and region. Click “Buy BTC” next to your chosen ad, enter how much you want, and follow the onscreen instructions to complete your payment through PayPal.
Binance is one of the best platforms to use if you’re interested in buying new and obscure coins as well as Bitcoin. The advanced tools, indicators, and derivatives also provide everything an experienced trader needs.
The benefit of using Binance P2P to purchase Bitcoin with PayPal is that there are no fees—once you choose an offer with an exchange rate you’re happy with, there will be no other cost added to it.
Users will need to be wary of possible scams when dealing directly with sellers through Binance P2P. However, your funds will be held securely in escrow and you should not release them until you receive your Bitcoin. Less experienced users can also switch to the Express tab for a simplified Bitcoin P2P trading process.
Once you’ve bought Bitcoin on Binance, you have the opportunity to use Binance Earn to generate interest on it through a savings account, liquidity farming, or DeFi staking. Read our full Binance review.
600+ other cryptocurrencies available
Technical analysis tools available in Spot trading
No fees for P2P trading
Simplified P2P process for beginners
All P2P sellers have been verified through KYC
Earn interest on your Bitcoin
Educational resources
Limited order types compared with Spot trading
Regulatory issues in some places
If you’re looking to acquire Bitcoin without an ID or a bank account, then Paxful is the top platform for purchasing BTC anonymously with PayPal. Paxful is a people-powered platform that aims to provide everyone with equal access to the global economy.
Click the “Register” button at the top of the page and provide either your phone number or email address. Create a strong, unique password and click “Create Account”.
You will need to verify your email address and phone number by entering the verification codes you receive by email and text. Depending on where you live, you may have to verify your identity to access all of Paxful’s features, but you can buy BTC with PayPal from some vendors straight away without going through KYC.
Click “Buy” and select “Buy Bitcoin”. You can find vendors that accept PayPal by selecting it under the “Pay via” filter on the left. Choose your preferred vendor and hit the Buy button.
Enter how much Bitcoin you want to purchase in either BTC or your local currency. Click the “Buy now” button and follow the instructions on the next page to send the agreed amount to the vendor via PayPal. Click “Paid” when done and you should receive your Bitcoin.
While many people are excluded from the traditional financial system, Paxful provides somewhere for anyone to trade crypto via PayPal and over 350 other payment methods. You can even buy Bitcoin anonymously, without an ID or a bank account.
With millions of users and billions in global volume, there is always high liquidity on Paxful. There is a wide range of vendors to choose from on the platform offering different exchange rates and limits.
Paxful doesn’t charge you any fees when you purchase Bitcoin, but the seller sets the exchange rate and may choose to add more of a mark-up depending on your verification status, payment method, local currency, and order size.
As with any P2P trading, you should be cautious about users with nefarious intentions, but as long as you follow the instructions and keep trades within Paxful, your funds will be secured by escrow.
Since 2021, it has also been possible to buy Bitcoin and a few other cryptocurrencies (Ethereum, Litecoin and Bitcoin Cash) directly through the PayPal platform. This is an easy and accessible way of purchasing BTC for anyone with a PayPal account.
If you don’t already have any PayPal accounts, click the “Sign Up” button, select “Personal Account”, and provide your name, and email address, and create a password. You’ll be asked to enter your address, phone number, and date of birth on the next screen to complete your profile. After that, you can link your credit/debit card and/or bank account to start sending money with PayPal.
When you go to the crypto section and click “Buy”, you will be asked to confirm whether or not you are a US citizen. The next page will tell you some things to know before buying crypto and you will need to tick the box to confirm that you understand the risks.
You will be prompted to confirm your identity before you can buy crypto. Click “Get Started” and complete your personal information on the next page. If asked to provide a photo ID, select your ID type and upload an image of it.
Click “Bitcoin” and hit the “Buy” button. You will need to select or enter the amount you wish to purchase, then click “Next”. Choose your funding source and click “Next”. You will need to review the transaction and fees. If you are satisfied, click “Agree and Buy”.
PayPal users who want to gain exposure to Bitcoin but don’t yet have the knowledge or confidence to make an account on a crypto platform will find PayPal’s new crypto features a quick and convenient way to make a BTC purchase.
There are educational articles on PayPal to help beginners learn more about crypto and you can purchase as little as £1 worth of Bitcoin if you just want to dip your toe in the crypto waters. PayPal lets you track real-time Bitcoin prices and you can sell or withdraw your BTC whenever you want.
Those who aren’t complete beginners may find PayPal’s crypto features somewhat lacking, however, as there are only three other cryptocurrencies available and there are no tools for more advanced trading.
It’s also useful to know about fees before deciding whether to buy Bitcoin on PayPal directly. When buying or selling crypto, PayPal will charge you a spread, as well as a fee of at least 1.5%, which can be much higher for small purchases. You can withdraw your BTC to a private wallet but you will need to pay a network fee which could be high when the network is busy.
Very quick and easy to buy Bitcoin
More convenient than some crypto platforms
Low trade minimum
Some educational resources
Accessible to anyone with a PayPal account
Lack of charts and trading tools
No choice of order types
Only 3 other cryptocurrencies are available
Fees can be significant for small purchases
Withdrawal fees can be high
With PayPal, you can send money in a matter of seconds. There is no need to wait around for funds to clear, so you can get your Bitcoin pretty much immediately. Withdrawing funds after you sell your Bitcoin can also be much faster with PayPal than other payment methods. You can even activate One Touch if you want to stay logged in to your PayPal account to make transactions even faster.
PayPal is one of the simplest ways to pay. There is no need to enter card numbers or account information every time you make a Bitcoin purchase. If you already have a funding source linked to your PayPal account, all you need to do is enter your PayPal password to log into your PayPal account. After that, PayPal will complete the payment for you, and the funds will be transferred to your account immediately.
You also avoid the hassle of currency conversion when you use PayPal, and it’s easy to set up recurring payments with PayPal, as well as one-time purchases. As well as crypto platforms, there are millions of other online stores that accept PayPal, so you can use PayPal for pretty much anything, without needing to switch between different payment methods.
PayPal uses end-to-end encryption to secure your data. As PayPal processes the payment, your bank or card details are never shared with the exchange you use. You also have the option to set up a PayPal security key which means two-factor authentication is required every time you make a purchase.
PayPal constantly monitors your transactions to detect any suspicious activity and protect you from fraud. On top of protecting your account, PayPal provides Purchase Protection. If you are charged for a transaction you didn’t make, or you don’t get what you paid for, you can simply raise a claim online, and PayPal will give you a full refund if you are eligible.
The fees associated with using PayPal depend on the platform. Although you can make deposits for free on eToro, you will find yourself facing higher fees on Coinbase when using PayPal than when using other methods. The fees for buying Bitcoin directly on the PayPal platform can also be significant, especially for smaller purchases.
Whether or not you can use PayPal to buy Bitcoin depends on your location. US customers have quite a few choices, including all the ones listed in this guide. However, UK users are unable to make PayPal deposits on eToro, and Coinbase only allows customers in the UK and Europe to use PayPal for cashing out. So far, PayPal has only rolled out its Cryptocurrency Hub services to the US and the UK.
Although PayPal’s security mechanisms can be good for protecting customers from fraud, they can also be an inconvenience if PayPal deems genuine transactions to be suspicious. PayPal has been known to withhold payments and freeze users’ accounts without warning, which can be disruptive.
The different types of platforms where you can buy Bitcoin with PayPal all offer quite different trading experiences. There are pros and cons to each method, and to help you decide which is right for you, we’ve discussed some important factors to consider below.
Buying through PayPal directly can involve significant fees. The exchange rate will include a spread, and you will also be charged a transaction fee of at least 1.5% on each purchase. Buying just £1 of BTC on PayPal, for example, incurs a fee of £0.50—which is a hefty 50%.
You can buy Bitcoin on Paxful or Binance P2P without paying any fees, but as the seller sets the price, you could find yourself paying a significant markup on the actual market price of BTC.
Some exchanges and crypto brokers charge low fees. Coinbase, for example, charges just 0.6% or less on top of spread when you buy Bitcoin. However, depositing to Coinbase via PayPal involves a 2.5% fee and using PayPal to pay for a purchase directly on Coinbase triggers a 3.99% fee.
Depending on the size of your purchase, the cheapest option may therefore be eToro, which doesn’t charge any fees for PayPal deposits and charges just 1% plus spread for each Bitcoin purchase.
Although PayPal provides market information and educational content, it is somewhat lacking in crypto trading and investing features. There is no choice of order types and no tools for technical analysis.
Peer-to-peer platforms also tend to be lacking in order types and charting tools, although if you buy through Binance P2P, you can make use of the analysis tools on the spot trading charts and take advantage of features such as savings accounts once you’ve purchased Bitcoin.
Exchanges and brokers tend to be the most feature-rich types of platforms. Both Coinbase and eToro provide charts and tools for technical analysis. Coinbase also has a recurring buys feature, while eToro has a unique CopyTrader feature for replicating the actions of the world’s best Bitcoin traders.
This is a subjective factor that depends on what you want to get out of your Bitcoin buying experience. PayPal’s crypto features are very user-friendly and convenient if you want a fast way of making very simple Bitcoin transactions.
Most people find P2P platforms to be the least user-friendly as the process is less intuitive and requires some understanding of concepts such as escrow.
eToro and Coinbase both provide clear, intuitive platforms that are accessible for beginners but also provide enough advanced features to satisfy more experienced users.
Peer-to-peer trading can raise security concerns as it involves dealing directly with individuals, some of whom may attempt to perpetrate scams. The use of escrow and following the recommendations of the platform ought to keep you safe, but P2P users should always be cautious.
PayPal is good as a secure payment method as it doesn’t share your bank or card details with third parties. However, if you want to buy Bitcoin directly through PayPal, you should know that PayPal stores users’ crypto in omnibus accounts and there is no information about how these are secured.
Coinbase and eToro both store the majority of their crypto holdings in cold wallets, which are the most secure form of storage. Both platforms also use industry-leading security practices to protect accounts and have crypto insurance.
As regulators and law enforcement agencies around the world wise up to Bitcoin and attempt to crack down on illicit crypto activities, it is becoming increasingly difficult to buy Bitcoin anonymously, with more and more platforms requiring identity verification as part of their Know Your Customer (KYC) process.
It is still possible to buy Bitcoin anonymously, however, through P2P platforms like Paxful. You need to complete identity verification to access all of Paxful’s features but you can purchase BTC from certain vendors with methods such as PayPal even without verifying your identity.
To ensure anonymity, you would need to create a new email address to use with Paxful. Although PayPal won’t share your details with Paxful, most PayPal users still go through identity verification on PayPal in order to connect a funding source.
The only way to avoid the need for a bank account or credit/debit card on PayPal is to pay using your PayPal balance. If you receive payments through PayPal, you can use these funds to pay for things such as Bitcoin purchases without going through PayPal’s identity verification.
Trading on unregulated P2P marketplaces can be risky, however. If you’re not doing anything illegal, then spending a few minutes verifying your identity on a regulated platform will provide a safer and easier way of buying crypto. What’s more, regulated platforms also tend to provide better features and customer service.
KYC or “Know Your Customer” is the identification process most exchanges and brokers deploy to verify a customer is who they say they are.
To satisfy these requirements, customers are typically required to provide a photographic ID like a passport or driver’s licence, and in some cases, they will need to prove their address with a utility bill or something similar.
As a global financial services provider, PayPal itself is bound to comply with all laws and regulations regarding Anti-Money Laundering (AML). Exchanges and brokers are also financial services providers and depending on their region, need to comply with the same laws.
When purchasing Bitcoin from a crypto exchange or broker, you will generally be subject to a verification procedure, regardless of the payment method.
The Money Laundering Regulations 2017 is the law that determines KYC requirements in the UK. With oversight from the European Joint Money Laundering Steering Group, financial services providers in the UK are required by law to comply with standard KYC and AML regulations.
In the UK, Bitcoin can be purchased with PayPal at a reputable brokerage platform or OTC desk. PayPal is not available as a payment option for most cryptocurrency exchanges in the UK.
It is perfectly legal to buy Bitcoin in the UK, but all cryptocurrencies are unregulated in the UK, meaning investors won’t have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme in the event that things go wrong. This is why it is important to use a regulated platform that employs strong security measures.
Retail investors are not allowed to trade Bitcoin derivatives in the UK.
At the Federal level, Bitcoin is not considered a security by the SEC, meaning securities laws don’t apply, while FinCEN requires cryptocurrency platforms to register and abide by AML/CFT rules.
Laws affecting cryptocurrencies can also be passed at the state level. States such as Maryland and Hawaii have issued warnings about cryptocurrency investing, while other states like Wyoming and Colorado have passed favorable crypto regulations.
You can buy Bitcoin legally in the USA and PayPal is more widely accepted as a payment method on crypto exchanges in the USA.
PayPal is one of the most widely accepted and preferred payment methods in the world. However, some regions still do not accept PayPal as a payment system. This is particularly the case in some developing countries where fraud has been a major problem.
A list of the countries that currently support PayPal can be found at the following link.
If you want to buy Bitcoin with PayPal, you may have a limited choice of platforms that you can use. The platforms listed on this page are the best and safest options. However, eToro and Coinbase don’t currently accept PayPal deposits from UK users.
With verified PayPal accounts you can send up to $60,000, though a single transaction may be limited to $10,000.
The minimum amount of Bitcoin you can buy is the lowest when buying directly on PayPal, at just $1. Coinbase also has a low minimum of $2. On eToro, you will need to deposit a minimum of $10 and the minimum trade size is $10 when buying Bitcoin.
When it comes to upper limits, the maximum amount you can deposit to eToro via PayPal in a single transaction is $10,000, which is also the maximum trade size when purchasing Bitcoin.
On Coinbase, users can buy up to $25,000 worth of Bitcoin per day with PayPal, or make deposits to their Coinbase account through PayPal of up to $25,000 per day.
P2P marketplaces don’t tend to have minimum and maximum limits on purchases at a platform level. Instead, each individual seller will set upper and lower limits on the amount of Bitcoin they are willing to sell to you.
PayPal doesn’t charge you any fees when you use the service to pay for a purchase unless a currency conversion is required.
When buying cryptocurrency including Bitcoin directly on PayPal, the exchange rate quoted includes a spread, and there will be a transaction fee added to each purchase or sale. In the UK, these fees are as follows.
Transaction size
Fee
£1 – £24.99
£0.50
£25 – £100
2.3%
£100.01 – £200
2%
£200.01 – £1,000
1.8%
Over £1,000
1.5%
Crypto platforms may choose to charge a fee on deposits or purchases made via PayPal. These are summarised below.
Platform
PayPal deposit fee
Fee for buying with PayPal
eToro
No fee
n/a
Coinbase
2.5%
3.99%
Binance P2P
Paxful
It’s worth noting that eToro and Coinbase also charge trading fees when buying any crypto including Bitcoin, regardless of the deposit method used. These are 1% plus spread on eToro and up to 0.6% plus spread on Coinbase.
While Binance P2P and Paxful don’t charge buyers a fee, the seller sets the exchange rate, so purchasing Bitcoin this way could still work out more expensive than buying it on a platform that charges fees.
PayPal has been around much longer than cryptocurrency, but it was well over a decade after Bitcoin’s inception that PayPal finally introduced crypto functionality. In fact, former PayPal CEO Bill Harris described Bitcoin as the “greatest scam in history” back in 2018—so what has changed since then?
PayPal has actually had a relationship with Coinbase since as early as 2016. Then in 2020, the payments giant created a Blockchain Research Group to explore how the technology could be useful to PayPal and its customers.
PayPal then announced the launch of its crypto services in late 2020, stating that the shift towards digital payments was accelerating, with PayPal CEO Dan Schulman saying that digital currencies have “clear advantages in terms of financial inclusion and access”.
The payment services provider partnered with Paxos Trust Company to roll out crypto features in the US, followed by expansion to the UK in 2021. It also received a conditional Bitlicense from the New York State Department of Financial Services (NYDFS).
PayPal’s stated aims include building understanding and adoption of cryptocurrency, increasing the utility of crypto in digital commerce, and exploring and investing in the next generation of financial services infrastructure.
Although PayPal’s crypto features are limited, they are very easy to use, and if these services are rolled out worldwide, PayPal could make crypto more accessible for its hundreds of millions of users.
"Avoid following somebody else’s advice from YouTube, Reddit, online articles, etc. Always do your own research and have in mind that many people are paid to promote assets and projects online and it isn’t always immediately obvious when this is the case. This will help you build critical thinking in an industry where this is crucial to your success and “survival”. You’ll learn a lot, and knowing you can rely on your own “crypto smarts” is incredibly empowering in long run." Hristiyan Hristov Account Management Team Lead at Nexo
The best method of buying any crypto including Bitcoin is subjective and will depend on your priorities. Credit cards are a useful way to buy Bitcoin if you want the freedom to pay later or in instalments. Debit cards, meanwhile, provide a fast payment solution without the fees or interest charges of credit cards.
Bank transfers provide the cheapest deposit method on many platforms, but you will generally be told to allow up to three days for a bank transfer to be processed. More of the cheapest ways to buy Bitcoin can be found on the in-depth page
PayPal doesn’t charge you any fees for making payments, so if you can find a platform such as eToro that allows free deposits, PayPal can also be a cheap option. You may find PayPal the best way to buy Bitcoin if you want instantaneous speed, the convenience of only needing to enter a password, or anonymity when buying on a P2P marketplace.
If you decide to buy Bitcoin with PayPal, you want to make sure you do so securely to avoid any risk of losing your funds. You should make sure that your PayPal account has a strong, unique password that you change from time to time.
You should always enable two-factor authentication if you have the option—you can do this on PayPal as well as most crypto exchanges and brokers. Finally, make sure to select a regulated and reputable platform that follows industry-best practices when it comes to security.
It’s natural to want to go to as little expense as possible in the process of acquiring Bitcoin. There are a few things to consider in this respect. If you look at the price of Bitcoin on different platforms, you should be able to see which is offering the best exchange rate. This rate will include a mark-up in the case of P2P marketplaces and a spread in the case of some brokers and exchanges.
Before you can tell which option is the cheapest, however, you will need to take fees into account. Any deposit or transaction fees should be factored into the cost of acquiring Bitcoin, but you may also want to consider any other fees, such as withdrawal or inactivity fees. Once you have found the cheapest platform, you should decide whether it meets your other needs or whether it’s worth spending a little more on fees for a platform with better security and features.
Once you’ve bought some BTC, you’ll want to make sure you keep it somewhere secure, and there is a range of crypto wallets available to suit different needs. The most secure option is to transfer bitcoin to a hardware wallet. Software wallets that can be downloaded to your smartphone or desktop also provide a fairly secure storage solution, with your private keys being stored on your device.
Those who buy a small amount of BTC and/or intend to make regular trades may find it more convenient to keep their coins in the free web wallet provided by the platform they use. Platforms can be a target for hackers, however, so you should select one that employs security practices such as using cold storage and insuring the crypto it holds. Frequent traders can also opt to transfer Bitcoin to a secure hardware wallet while keeping some available in a web Bitcoin wallet, the best of both worlds.
When you decide to sell your Bitcoin, the process will be pretty similar to buying it. On eToro, for example, you can go to your portfolio, select Bitcoin, and click the close button. As long as you used PayPal for your deposit, you can withdraw your funds to PayPal.
If you bought your Bitcoin on the PayPal platform, you can go to Financials, select Bitcoin, and tap “Sell”. As long as you’ve confirmed your tax information, all you need to do is enter the amount, click “Next”, and “Sell Now”.
PayPal is a fast and secure way of making payments worldwide, offering the convenience of a credit card but with lower fees. If you find the right platform, you can use PayPal to purchase crypto including Bitcoin quickly, easily, and even anonymously.
Based on our research, we believe eToro is the best place to buy Bitcoin with PayPal due to its free deposits, competitive fees, strong security, regulation, and innovative features such as copy trading.