7 Best PayPal Crypto Exchanges in 2024

Key Things to Consider When Choosing a PayPal Crypto Exchange

Security

Security is the most important factor to consider when choosing a crypto exchange because exchanges with inadequate security measures eventually get hacked. We’ve seen this happen several times in the crypto industry and it almost always leads to losses for users.

There are security standards for financial technology businesses. One such recognized one is the ISO certification. Ensure that the exchange you choose always has the latest certifications as security standards are constantly being updated for a secure trading experience.

Also, look out for two-factor authentication (2FA) and additional robust security measures. This is a last line of defense on the off chance that a bad actor gains access to your password. Stick with exchanges that have 2FA compatible with either your phone number or a third-party authenticator app like Google Authenticator.

Storage Options

The storage option here is the infrastructure the exchange uses to store customers’ cryptos. The most secure form of storage is a hardware wallet, synonymous with cold storage. The most secure exchanges all use cold wallet storage for the majority of their clients’ cryptos

This keeps funds away from the internet, making them difficult to steal. Crypto exchanges use both cold and hot wallets to store and make funds available, respectively. If you want to make a sizable withdrawal, you’ll have to wait for funds to be withdrawn from cold wallet storage

The payment methods available on an exchange affect the overall user experience. Always check whether the payment methods offered are comfortable for you, such as buying Bitcoin with American Express. Also, note that more payment methods, such as buying Bitcoin with Zelle, involve more security considerations.

In this case, ensure that the exchange accepts PayPal, ideally for deposits and withdrawals for your crypto wallet or direct buys and sells.

User Friendliness and Accessibility

While user-friendliness varies with platforms, the ideal exchange should be easy to navigate, even for beginners. This is especially true for most crypto exchanges that offer a suite of services that may require users to transfer crypto between their crypto wallet within one account.

The user interface should be plain enough to understand where everything is and navigate and should have a mobile version. Mobile apps are quite essential these days as you may need to react to market moves while on the go and sell crypto.

Asset Selection

Coin collections differ with cryptocurrency app platforms. Global exchanges usually offer more cryptos than regional ones. Aside from the desire for options, you may not need to use an exchange that offers the most coins, especially if other factors don’t line up.

Provided your choice exchange offers the major coins and some potential cryptocurrencies to invest in, you’ll be fine. Also, exchanges are constantly adding to their selection, so your options are always increasing.

However, to avoid having to move between various exchanges to get your favorite coins, you may want to balance coin selection with other factors for the best mix.

Fees

It costs more to buy cryptocurrency on some exchanges than others, and if you are a frequent trader, a quarter percentage point more could add up to significant fees.

Furthermore, some exchanges charge fees for other financial activities like deposits and withdrawals. Some charge inactivity fees, like eToro. Exchanges usually list their fees in a Fee Schedule and link to it at the website’s footer. If you can’t find it, check the FAQ or support section. Be aware of all fees associated with using an exchange.

Also, check for fee discount programs. Crypto exchanges with low fees sometimes offer discounts to users who meet certain criteria. For example, Binance reduces your trading fees when you hold its native coin, BNB.

KYC Requirements

Security-conscious exchanges implement KYC and AML rules, in line with regulations. This includes requiring users to submit a government-issued ID and a proof of address document like a utility bill. Be wary of platforms that do not implement KYC.

What Fees are Involved in PayPal Crypto Exchanges?

The fees charged when using PayPal depend on the exchange used. For example, Binance will not charge you for using PayPal on its p2p marketplace, but crypto brokers like Skilling may charge a percentage for deposits or withdrawals.

Also, the PayPal fee may charge transaction fees depending on the way the transaction is structured. For example, when using Binance’s p2p marketplace, we sent funds to counterparties using the family and friends option which doesn’t always charge transaction fees.

However, if the transaction is an official one, from the exchange itself, it will be charged as a business, in which case you won’t pay fees (the business does).

Also, the country where the PayPal account is created plays a factor. Sending money from a PayPal account hosted in one country to one hosted in another attracts fees, even when the currency is the same.

How to Deposit Money Using PayPal - Step-by-Step Tutorial

1. Open an Account

Go to the platform’s website and open an account. Alternatively, you can download the mobile app from the Play Store/App Store and click on Sign up. Fill out the form with your full name, email address, and password.

2. Verify Your Account

Next, verify your account with personal details like your date of birth and a passport photo, after which submit KYC documents. These documents include proof of ID (National ID or driver’s licence) and proof of residence (utility bill).

3. Make a Deposit

Once your account has been verified, click on Deposit funds on the left pane of the page. The deposit options available will be displayed. Choose PayPal from the drop-down menu and set the amount you’d like to deposit.

4. Buy Cryptocurrency

Once your account is funded, search for any crypto in the Discover tab. An interface like the one below should load. You can then set your parameters and buy.

Latest PayPal Crypto Exchanges News

• OKX is launching a signal trading platform to empower traders with high-quality signals and execution.

• Binance has suspended transfers of several multichain-bridged tokens.

Final Thoughts on the Best Crypto Exchanges That Accept PayPal

We explored the best exchanges that support PayPal as a funding method and chose Plus500 as our best overall PayPal cryptocurrency exchange because of its low fees, copy trading platform and thematic investing features, large user base, and ease of use.

However, any of the exchanges on this list are great options, you just have to find the one that best meets all your needs.

To learn more about how to buy cryptocurrency using Plus500, check out our How to Buy Ethereum page.

Methodology - How We Picked the Best PayPal Crypto Exchanges

The platforms covered in this guide were chosen through rigorous testing, research, and reviews. We paid attention to security, transparency, reputation, trading fees, deposit and withdrawal methods, coin selection, and competitive edge.

The platforms listed are the best we found in the various categories we listed them. For example, we found that Binance had the largest altcoin selection and hence named it the best PayPal cryptocurrency exchange with a robust altcoin collection.

Check out our why trust us and how we test pages for more information on our testing process.