Purchase Bitcoin with Paypal – Analytics Perception

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by Analytics Insight

January 17, 2022

When deciding how to buy Bitcoin with PayPal, there are various factors to contemplate whilst conducting your research.

More people than ever are interested in how to buy Bitcoin with PayPal due to the platform’s usability and security. Thanks to cryptocurrency’s popularity, investors now have numerous ways of buying Bitcoin with PayPal – making the entire process seamless to complete.

This article will discuss how to buy Bitcoin with PayPal instantly, covering the top trading platforms that accept PayPal and highlighting how you can make your investment today – all whilst avoiding hefty transaction fees!

 

How to Buy Bitcoin with PayPal – Quick Steps

If you’re looking for a brief overview of the best way to buy Bitcoin with PayPal – then look no further! The four steps below highlight how to invest in BTC using PayPal with eToro – our recommended trading platform for beginners.

1. Open an account with eToro – Head to eToro’s homepage and click ‘Join Now’. Enter your email address and choose a username and password for your account.

2. Verify account – Verify your account by uploading proof of ID (passport or driver’s license) and proof of address (utility bill or bank statement).

3. Deposit – Click ‘Deposit Funds’, choose PayPal from the drop-down menu, and follow the instructions to link your account and make your deposit.

4. Buy Bitcoin – Type ‘BTC’ into the search bar and click ‘Trade’. Enter your investment amount (minimum $10) and click ‘Open Trade’.

Open an Account with eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

Why Buy Bitcoin with PayPal?

Bitcoin

When deciding how to buy Bitcoin with PayPal, there are various factors to contemplate whilst conducting your research. Found below are some of the top reasons to consider using PayPal to purchase BTC, as compared to other payment methods.

 

Speedy Deposits and Withdrawals

One of PayPal’s main benefits is that deposits into your trading account tend to arrive instantly. This is crucial in the fast-moving crypto market, as it can ensure you’re able to take advantage of lucrative trade opportunities. Furthermore, withdrawals also tend to be speedy, with certain brokers processing PayPal withdrawals in as little as one working day.

 

High Level of Security

PayPal has built up a stellar reputation thanks to its level of security – which is why it’s used by thousands of merchants worldwide. Thanks to two-step login and end-to-end data encryption, PayPal can keep your trading account safe from hackers. Furthermore, PayPal sends users an email after every transaction, ensuring instances of fraud can be caught and prevented.

 

User-Friendly Experience

Linking your PayPal account to your trading account tends to be extremely easy. For example, if you use eToro, you can connect your PayPal account in just a few clicks and make deposits that arrive instantly. Withdrawals are also easy, as once your withdrawal from the trading platform arrives in your PayPal balance, you can then send it to your linked bank account to spend immediately!

Bitcoin

 

Great Mobile App

The process of how to buy Bitcoin using PayPal is made much easier thanks to PayPal’s user-friendly app. Following on from our previous point, the app adds to the user experience and allows you to track your transactions on the go. If you decide to buy cryptocurrency with PayPal directly, you can even keep tabs on your portfolio balance whilst you are out and about.

 

Multiple Currencies Supported

Finally, although you cannot buy Bitcoin with PayPal Credit, PayPal makes it easy to conduct transactions worldwide as the platform supports 25 different currencies. So, if you received a payment in euros and wish to exchange it for dollars, you can do so with PayPal in just a few clicks. Once completed, you can use these dollars to fund your trading account with a broker (such as eToro) that accepts PayPal deposits!

 

Where to Buy Bitcoin with PayPal

If you’re looking to buy Bitcoin online with PayPal, it’s vital to research which brokers accept PayPal as a payment method. Found below are three of the top platforms that allow PayPal to Bitcoin instant trading – ensuring you can make your crypto investment quickly and safely. 

 

1. eToro – Overall Best Broker to Buy Bitcoin using PayPal

Our recommended PayPal Bitcoin broker for 2022 is eToro. When it comes to trading crypto, safety should be one of your main priorities, which is why eToro is so highly regarded. eToro is regulated by top-tier organisations such as the FCA, ASIC, CySEC, FINRA, and FinCEN. Through this strict regulation, eToro users can trade safely and with excellent investor protection.

eToro allows users to buy Bitcoin using PayPal with extremely low fees. No transaction fees are charged for opening a trade, as eToro employs a spread-based structure. This means users must only pay the spread on either side of the trade, quoted at 0.75% for BTC trading. What’s more, deposits are entirely free to make – and the minimum deposit for new users is set at only $50!

Bitcoin

Opening an account with eToro is very straightforward and can be completed in minutes on your laptop, smartphone, or tablet – with no need to provide any physical paper documentation. Additionally, eToro has numerous fantastic features, including its super-popular ‘CopyTrader’ feature. This allows users to easily copy the trades placed by other eToro users, which is ideal for beginners or people that don’t have the time to conduct daily market analysis.

Buy Bitcoin on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

 

2. Webull – Top Bitcoin to PayPal Broker with Low Fees

If you’re wondering how to buy Bitcoin with PayPal, Webull is a broker worth considering. Webull has a stellar reputation within the US, boasting regulation from the SEC and FINRA. The great thing about Webull is that Bitcoin trading is completely commission-free, and users can invest in BTC from as little as $1 per trade.

Webull also charges no non-trading fees and offers around 25 coins to invest in, making it easy to create a diversified portfolio. Users can trade on Webull’s desktop, web, or mobile app, all of which are user-friendly and suitable for beginners. The mobile app is exceptionally well designed, featuring clear price charts, price alerts, and two-step login to bolster security levels.

Bitcoin

Buy Bitcoin with Webull

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

3. Binance – Best PayPal Bitcoin Broker offering Great Asset Selection

Another great platform to buy Bitcoin using PayPal is Binance. As you may know, Binance is the largest cryptocurrency exchange globally and offers over 500 crypto assets for users to invest in. In terms of fees, Binance only charges a 0.1% transaction fee when you buy or sell crypto. This fee can even be reduced by 25% if you purchase and hold BNB, which is Binance’s native token.

This PayPal Bitcoin exchange provides a great trading platform for users, complete with advanced charting capabilities and numerous technical indicators. You can even stake your crypto holdings through ‘Binance Earn’, with dozens of financial products available to users. Finally, Binance even offers a free ‘Trust Wallet’, which enables users to store their crypto safely and supports NFTs too!

Buy Bitcoin on Binance

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

eToro vs PayPal – Which is Best for Buying Crypto?

Although many people are curious about how to buy Bitcoin with PayPal, it’s vital to compare the process to alternative options to get an idea of which is best. For example, although you can purchase BTC using PayPal, the service offered by top trading platforms such as eToro tends to improve the user experience significantly. This is because eToro is designed solely with the trader in mind, whilst PayPal’s crypto offering is just one of its many focuses.

To put this into perspective, eToro offers 43 different cryptocurrencies to trade, whilst PayPal only offers four. Having a large asset selection like eToro is crucial to creating a diversified portfolio that will provide the highest level of risk-adjusted return. In addition to this, eToro offers extensive charting features with multiple timeframes and technical indicators – at present, PayPal does not offer any charting options.

Bitcoin

eToro also offers numerous features that PayPal does not have, such as a free crypto wallet (eToro Money) and an innovative CopyTrader feature. You can even invest in pre-made portfolios called ‘CopyPortfolios’, which are professionally managed and require no hefty management fees. Finally, eToro’s trading fees are more attractive than PayPal, as users only have to pay the spread whilst PayPal users must pay a transaction fee and a spread that varies depending on the prices set by their liquidity provider, Paxos.

Overall, although PayPal is great for safety and usability, we recommend using a platform such as eToro if you’re a beginner looking to buy Bitcoin quickly and cost-effectively.

Platform Accepted Cryptos Fee Structure Fee to Buy Bitcoin Trading Tools
eToro 43 0% Commission + Spread 0.75% Innovative CopyTrader feature, extensive price charts, free crypto wallet app
PayPal 4 Volume-based Transaction Fee + Variable Spread Transaction fee of 1.5%/$0.50 to 2.3% + Spread based on market conditions Fractional investing

 

How to Buy Bitcoin with PayPal on eToro – Tutorial

Finally, let’s look at how to buy Bitcoin with PayPal. As noted earlier in this guide, we recommend using eToro to make your investment as the platform offers extensive regulation and low trading fees. So, without further ado, here are the four steps you need to take to buy Bitcoin with eToro right now:

 

Step 1 – Open an eToro Account

Go to eToro’s website and click ‘Join Now. Provide a valid email address and choose a username and a password for your trading account. If you’d like, you can even complete the sign-up process using eToro’s handy mobile app, available on iOS and Android.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Bitcoin

 

Step 2 – Verify your Identity

Due to eToro’s high level of regulation, new users must verify themselves. To do so, click ‘Complete Profile’ and upload proof of ID (copy of passport or driver’s license) and proof of address (copy of bank statement or utility bill). eToro will then verify these documents, which usually only takes a few minutes.

Bitcoin

Step 3 – Deposit via PayPal

Click ‘Deposit’ and choose PayPal from the drop-down menu. Follow the instructions to link your PayPal account to your eToro account and deposit a minimum of $50.

 

Bitcoin

Step 4 – Buy Bitcoin

Type ‘BTC’ or ‘Bitcoin’ into the search bar and click ‘Trade’. Enter your chosen trade size (minimum of $10), make sure everything is correct, and click ‘Open Trade’.

 

Bitcoin

 

How to Buy Bitcoin with PayPal – Conclusion

To summarise, this guide has detailed how to buy Bitcoin with PayPal from the comfort of your own home, highlighting which platforms accept PayPal and offer the best fees. By reviewing the information in this guide, you’ll have a firm understanding of Bitcoin to PayPal trading – ensuring you can enter the market with confidence.

If you’d like to get started with a PayPal Bitcoin platform now, we’d recommend using eToro. eToro is ideal for beginners and experienced traders alike, featuring low fees, extensive regulation, and numerous charting features that will help optimise your trading experience.

Buy Bitcoin on eToro

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

 

FAQs

Can I buy Bitcoin with PayPal?

You can exchange Bitcoin to PayPal easily by using a platform such as eToro. eToro accepts PayPal as a deposit method, meaning all you have to do is link your accounts together and fund your balance using PayPal!

 

Where can I buy Bitcoin with PayPal?

Numerous platforms now offer PayPal Bitcoin trading. Our recommended platform is eToro, as you can sign up in minutes and make deposits through PayPal free of charge.

 

Does PayPal charge a fee to buy Bitcoin?

The fee that is charged will depend on the broker that you decide to partner with. It’s best to choose a broker with no deposit fees, as this will enable you to save a decent amount of money over the long haul.

 

Can you withdraw Bitcoin from PayPal?

PayPal’s cryptocurrency service does not allow users to withdraw Bitcoin to a third-party wallet. That’s why it’s best to use another platform to buy Bitcoin and simply use PayPal to fund your trading balance – although this won’t allow you to transfer Bitcoin to PayPal.

 

How to buy Bitcoin with Paypal UK

In order to buy Bitcoin with Paypal In the UK, you need to create an account at a broker like eToro. Once you’ve created it, as you proceed to the deposit method, you can select PayPal as your preferred payment. This is one of the best ways to buy Bitcoin with Paypal UK.

 

What is the safest way to buy Bitcoin?

The safest way to buy Bitcoin is to use a platform that is regulated in the country you reside in. For example, if you are a US-based trader, keep an eye out for platforms covered by the SEC, FINRA, or FinCEN, as these tend to be the safest.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.


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