As one of the most widely used electronic wallet services, PayPal offers speed and ease for everyday transactions, and this extends to crypto. PayPal cryptocurrency exchanges allow users to deposit funds into their accounts using an easy and instant payment method.
This is especially useful for users in countries that do not allow banks to process crypto-affiliated payments. If you are looking for legitimate exchanges that accept an alternative payment method, you’re in the right place.
Our PayPal cryptocurrency exchanges guide compares the best exchanges that accept the most used electronic wallet as a deposit/withdrawal option.
If you’re looking for a quick answer? Here are our top 3 PayPal cryptocurrency exchanges
1. eToro - Best Overall
2. Binance - Best for largest altcoin selection
3. Skilling - Best for leverage facilities
4. OKX - Best exchange for Web3 Features
5. Coinbase - Best for Beginners
6. Capital.com - Best for Crypto CFDs
7. Coinmama - Best for payment flexibility
No of Cryptos
FCA, CySEC, AFSL
FCA, CySEC, ASIC
eToro is a social investment platform with copy trading capabilities, thematic investment features, and over 25 million global users.
The platform simplifies investment and trading for its users by allowing them to copy the trades of their more experienced peers (copy trading) and invest in a basket of cryptos that fit into an industry or cause that they believe in.
We particularly liked the copy trading feature because it showed us various traders’ profitability over time, so we only copied the trades of people who knew what they were doing.
We also liked how easy it was to deposit funds into our account. eToro provided several deposit methods, including PayPal. Sending money from PayPal to eToro was as easy as a local banking transaction with speeds that were as instant as credit card payments.
Expectedly, there are some limitations and requirements. For example, we had to deposit a minimum of $10 into our account for the transaction to be accepted, and withdrawals cost us $5 for amounts above $30.
Furthermore, the currency you use plays a huge role as eToro accounts are denominated in USD. If you reside outside the US or fund your account in a currency other than USD, you’ll be charged a conversion fee.
Aside from these fees and an exchange fee of 1% of transaction value, the platform is relatively free to use. This means that you will not be charged commissions. We had access to over 75 cryptos to buy and trade. Read our full eToro review here.
Low minimum deposit amount of $10
Social investing features allow you to copy trades
Highly regulated and trusted
Has a mobile app
Not available in remote regions
Crypto selection is limited compared to some competitors
Minimum deposit: $10
Deposit fees: Free
Userbase: 25+ million
Availability: Globally, except for a few countries
Account maintenance fees: None
Assets available: cryptos, stocks, commodities, currencies
Binance is a crypto exchange behemoth that leads the industry in trade volume, user base, and crypto products offered. It also offers one of the widest payment method options available.
We love Binance because it has a massive altcoin collection. The exchange’s collection includes over 600 coins and is only trumped by one other exchange that does not process nearly as much volume as Binance does.
Binance complements its coin collection with ultra low fees, charging a cut-rate 0.10% for spot transactions, one of the lowest in the industry.
While PayPal can be used as a deposit method on Binance, it is not an official one. We had to use the exchange’s peer-to-peer (p2p) market, where buyers and sellers around the world can swap coins directly with one another.
PayPal is accepted as a payment method on the p2p market. We were able to exchange crypto with other users using the electronic wallet while Binance stood as a middleman providing escrow services to ensure both parties act honestly.
We advise that you stick to the rules when trading on the p2p market to avoid losing your funds or being scammed as a huge part of the transaction is dependent on the counterparty being honest.
The p2p market supports over 61 fiat currencies and is free to use. The only fees you might encounter will be transfer fees from your PayPal account to your trading partner. Read our full Binance review here.
Wide selection of 600+ coins
Low spot market fees at 0.1%
24/7 chat support. Email support for more serious issues
Robust platform for staking, earning, and saving
Has faced regulatory hurdles in various countries
Withdrawal fees may be higher than necessary for some cryptos
Large p2p marketplace with over 20+ alternative funding methods
Margin trading facilities
Saving and swapping services
Variable minimum deposit
Skilling is a broker exchange that focuses on trading. It makes taking advantage of cryptocurrency’s price action easy for investors without buying the assets themselves.
The exchange also offers other securities like currency pairs, commodities, stocks, and indices, making it a one-stop shop for traders.
We liked Skilling’s transparency when communicating their leverage and margin requirements. The broker offers a 50:1 leverage ratio for cryptocurrencies with a 2% margin requirement.
Essentially, this means that you can trade 50x more than your account balance, provided you maintain at least 2% of the value of the leverage. For example, if you deposit $50 into your account, you can trade up to $250, provided your account balance never falls below $5.
Skilling offers access to over 55 cryptos, with an affordable trading fee of 0.2% per trade. Depositing and withdrawing funds using PayPal depend on the regulatory framework governing the broker.
Skilling is made up of two legal entities: Skilling Ltd and Skilling Seychelles Ltd. The former operates under the Cyprus Securities Exchange Commission (CySEC) while the latter operates under the Financial Services Authority (FSA).
One of these entities will provide brokerage services to you depending on your geographical location. PayPal deposits and withdrawals are available on Skilling Ltd, the CySEC-governed entity, but not for Skilling Seychelle Ltd, the FSA-governed entity.
For Skilling Ltd, PayPal deposits are free and instant but limited to a $100 minimum, while withdrawals take up to 1 business day. Read our full Skilling review here.
Cheap Bitcoin spreads among CFD brokers
Highly secure and well regulated
1:50 leverage facility
Free deposits and withdrawals for all PayPal payments
Minimum deposit higher than others
Flexible deposit methods
Clean user interface
Dedicated customer service
OKX has grown beyond a crypto exchange to a full-fledged service that offers enthusiasts a web3 experience in both finance and entertainment. A toggle at the top left corner of the homepage transforms the exchange into a web3 gateway.
We love how holistic OKX’s services are. The services are arranged in such a way that they almost seem to follow a progression for what to do with your crypto. The first feature is the Buy feature where you can purchase crypto directly using a method of payment you are comfortable with.
Right next to the Buy service is the Discover section where you can find various market opportunities. The Trade and Grow services come after and allow you to trade cryptos and stake them for returns, respectively.
OKX charges a trading fee between 0.085% and 0.100% at most. However, if you hold more than 500 units of the exchange's OKB token, you get a lower rate. The more tokens you hold, the lower fees you’re charged until a floor of 0.06% - 0.08%.
To buy crypto with PayPal, you’ll need to use the p2p market as the exchange does not support direct cash deposits. You may be able to use PayPal to buy crypto directly using the Buy service, but that depends on your geographical region.
To the best of our knowledge, the p2p market is the most surefire way to get your hands on crypto with PayPal. Read our OKX review here.
Supports multiple currencies
Easy signup and verification
Deposit support for up to 30 currencies
Access to a range of crypto services like DeFi, NFTs, and games
Robust derivative market
Dedicated customer support
Limited deposit and withdrawal options
Third-party payment integration
Offers over 300 cryptocurrencies
Web3 games and NFT integrations
Coinbase is a US-based exchange that brings crypto closer to people by making it easy to buy coins and tokens. The exchange also emphasises being compliant with the legal framework in the United States so users can buy and sell cryptos without worrying about legal disruptions.
We like that the platform has a modest collection of 193+ cryptos, enough for beginners to enjoy options, without having to manage a massive collection like some competitors. You can trade these coins with trade sizes as low as $2.
In keeping with the ethos of simplifying crypto transactions, Coinbase supports several traditional payment methods, including PayPal. However, some rules guide its use.
The PayPal option is available only to people in Canada, the UK, the US, and Europe. You can either buy crypto directly, sell crypto directly, deposit cash into your account, or withdraw cash from your account.
If you live in the US, you can buy crypto, add cash to your account, and withdraw cash using PayPal for free. If you live in Canada, you can only sell crypto, i.e., the proceeds are sent directly to your PayPal account.
European and UK residents can only withdraw cash from their Coinbase accounts using PayPal. All PayPal transactions are instant aside from UK residents who must wait 1 business day.
Coinbase charges a 1% conversion fee for direct conversions from either fiat to crypto or crypto to crypto and between 0.05% - 0.60% for spot trading. Read our full Coinbase review here.
Easy to use
Market leaders in the US
Intuitive platform perfect for beginners
Small trade sizes
Low transaction fees
Fees are not as low as some competitors in the US
Not suitable for users in remote regions without access to PayPal
Crypto-backed debit card
Capital.com is a global broker that offers various financial securities, including stocks, currency pairs, commodities, and cryptocurrency. It is ideal for trading purists who wish to benefit from trading cryptos without having to own them.
We like Capital.com because of the effort the company has put towards providing a safe, reliable, cheap, and compliant platform for its users. It is regulated by three major agencies, including the FCA, CySEC, and ASIC – the ASIC is known to adopt high regulatory standards.
We also like that the broker offers several options through its 456+ cryptocurrency contracts. These contracts allow you trade the cryptos but not own them, which is great if you are a day trader.
Unlike the other exchanges on this list, Capital.com trades cryptocurrencies in standardised volumes called lots. There are three major lots you can trade which include a standard lot which is 100,000 units of a quote currency, a mini lot which is 10,000 units, and a micro lot which is 1,000 units.
For example, if you trade a BTC-USD pair, the quoted currency is USD. So, a standard lot would be 100,000 units of USD. The same applies for other lot sizes.
Capital.com charges variable spreads on its crypto contracts. However, at the time of writing, the spread on Bitcoin was 66 pips, i.e., $660 per lot, $66 per mini lot, and $6.6 per micro lot.
You can deposit funds into your account using PayPal if your jurisdiction falls under Capital.com’s ASIC and CySEC-regulated entities.
These countries include Australia, Austria, Bulgaria, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Croatia, Hungary, Ireland, Italy, Lithuania, Luxembourg, Latvia, the Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, and Slovakia. Read our full Capital.com review here.
PayPal deposits are usually free but are subject to a $20 minimum.
Low minimum deposit
Wide crypto contract list
No deposit or withdrawal fees on the broker side
Not available to US clients
PayPal is not available for all regions
Crypto CFDs are not available to UK residents
Standard trading terminal
Coinmama is an exchange that breaks geographical boundaries to buying crypto by allowing anyone from anywhere to buy crypto using supported payment methods and currencies.
We like Coinmama because it allows us to buy crypto using up to 10 payment methods, including PayPal. The best part was that it didn’t matter what country we resided in or what our local currency was, provided we legally operated a PayPal account in one of its supported currencies.
The exchange offers 18+ coins, mostly popular ones like Bitcoin, Ethereum, Cardano, Ripple, Chainlink, and the like. Deposits are near instant but are subject to a minimum of $30 and cost 2.50%.
You can buy cryptos like Bitcoin with USD and EUR using PayPal. Unfortunately, you cannot sell with the same method.
Coinmama is regulated as a Money Service Business under FinCEN. Read our comprehensive Coinmama review here.
Simple and easy-to-use
Straight-forward sign-up process
Works in most countries
Flexible payment methods
$30 minimum deposit
Free deposits with certain payment methods
Higher fees than other exchanges
Limited crypto support
Robust payment integration
No geographical restrictions
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 recognised one is the ISO certification. Ensure that the exchange you choose always has the latest certifications as security standards are constantly being updated.
Also, look out for two-factor authentication (2FA). This is a last line of defence 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.
The storage option here is the infrastructure the exchange uses to store customers’ cryptos. The most secure form of storage is a hard wallet, synonymous with cold storage. The most secure exchanges all use cold 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 storage.
The payment methods available on an exchange affect the overall user experience. Always check whether the payment methods offered are comfortable for you. Also, note that more payment methods involve more security considerations.
In this case, ensure that the exchange accepts PayPal, ideally for deposits and withdrawals or direct buys and sells.
While user-friendliness varies with platforms, the ideal exchange should be easy to navigate, even for beginners. This is especially true for platforms that offer a suite of services that may require users to move crypto between wallets 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.
Coin collections differ with 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 potentials, 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 favourite coins, you may want to balance coin selection with other factors for the best mix.
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. Exchanges sometimes offer discounts to users who meet certain criteria. For example, Binance reduces your trading fees when you hold its native coin, BNB.
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 weary of platforms that do not implement KYC.
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 a broker like Skilling may charge a percentage for deposits or withdrawals.
Also, PayPal 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.
To open an eToro account:
Go to the eToro website and click on the Start investing icon to create 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.
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).
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.
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.
We explored the best exchanges that support PayPal as a funding method and chose eToro as our best overall PayPal cryptocurrency exchange because of its low fees, copy trading 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 eToro, check out our How to Buy Bitcoin page.
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.
eToro is our pick for the best PayPal cryptocurrency exchange because it doesn’t charge users for deposits when using PayPal. We also like its social trading features and worldwide reach.
No, PayPal is an electronic wallet and payment platform that has some crypto functionalities. You can buy and sell cryptos on PayPal, but it is still not a crypto exchange like services like Coinbase or Binance.
Yes. Users in the US, UK, Europe, and Canada can use PayPal with Coinbase, however, only US users can buy crypto and add cash to their accounts. Users from other countries can only sell and withdraw cash using PayPal.
Fees charged depend on the exchange. For example, eToro does not charge deposit fees, but others might. Always check your exchange’s fee schedule to know what fees are levied.
The quickest way depends on the exchange you use. For example, using Binance is not one of the quickest methods as you’ll have to buy crypto on the p2p marketplace. This involves waiting for counter-parties to send cryptos after you’ve paid for them.
Alternatively, buying directly on an exchange like eToro is much faster as you get crypto immediately after your payment is confirmed.