Purchasing Ethereum using PayPal is an attractive alternative, especially if you face banking restrictions in your country of residence. Additionally, this is a viable option for banks whose conversion or transaction fees are considered excessive.
There are several methods through which you can buy Ethereum with PayPal. From 2020, Paypal made it possible to purchase cryptocurrencies using PayPal e-wallet. All you need to do is have funds in your PayPal account, select the cryptocurrency you would like to purchase, then confirm your purchase.
Let’s have a look at how to buy Ethereum with PayPal.
- What You Need to Know Before Purchasing Ethereum on PayPal
- How to Buy Ethereum on PayPal
- PayPal Fees For Buying Ethereum
What You Need to Know Before Purchasing Ethereum on PayPal
If you are a PayPal user, you can buy, sell, or hold cryptocurrency. Also, you can use crypto to checkout for select purchases, but it is typically a high-risk idea to use any cryptocurrency as a mode of payment.
Together with other apps such as Robinhood and Venmo, PayPal makes crypto more accessible, which is a significant convenience for many beginner investors. However, with increased accessibility comes increased risk.
How to Buy Ethereum on PayPal
Method 1: How to Buy Ethereum Directly From the PayPal app
In 2020, PayPal launched the “crypto” button, enabling users to buy, sell and hold cryptocurrency or learn more about the entire cryptocurrency investment.
Because of the volatility of cryptocurrencies, the platform only permits users to exchange the four significant coins: Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Bitcoin (BTC).
The four cryptocurrencies are considered more stable and experience price volatility than the newer cryptocurrencies in the market. They are the alternatives most seasoned investors recommend to beginners starting in the field.
Buying Ethereum directly on the PayPal platform is one of the straightforward ways to purchase and own ETH. If you are interested in purchasing crypto on PayPal, you must open a PayPal account and select a cryptocurrency to buy.
Here is how to buy Ethereum directly from PayPal:
Step 1: Set up a PayPal account
Opening a PayPal account is free.
Step 2: Click on the “CRYPTO” button and select “Ethereum” from the options.
Step 3: Fund your PayPal account
Make sure your PayPal account has some funds. You may need to link your account to your debit, credit card, or bank account. If your country has PayPal mobile services, you can top up your account using the mobile network services.
Your purchased coins will be available in your crypto wallet instantly.
Method 2: How to Buy Ethereum with PayPal via LocalBitcoins
LocalBitcoin functions as an informal peer-to-peer exchange platform for lovers of Bitcoin.
Depending on the individual you get in touch with, they may be willing to accept PayPal payment from you in return for their Bitcoins, which you can instantly convert into Ethereum coins.
If you want to use this method, you will need to sign up for an altcoin exchange account with KuCoin, Poloniex, HitBTC, Bittrex, Binance, Coinbase, etc.
Method 3: How to Buy Ethereum with PayPal via eToro
Using the eToro brokerage platform is another way of buying Ethereum with PayPal. For a long time, eToro was just a Contract for Difference(CFD) broker. But since 2019, they have been excelling as a crypto trading service provider. You can purchase 14 different cryptocurrencies through this platform, together with their CFDs.
These cryptocurrencies include:
- Binance Coin
- Ethereum Classic
- Bitcoin Cash
Buying Ethereum with PayPal through eToro is one of the most beginner-friendly options available.
Method 4: How to Buy Ethereum with Paypal using LocalCryptos
Finally, the most straightforward way to purchase Ethereum with PayPal is slightly riskier but not less than what you have if you decide to use LocalBitcoins.
LocalCryptos is a peer-to-peer platform that works almost the same way as its Bitcoin-oriented counterpart. Some users of this platform will be willing to sell you their Ethereum in exchange for PayPal payment.
As you trade, remember that the risk of being conned on these sites is remarkably higher compared to formal exchanges. Therefore, search for reputable traders only since the only guard between you and an accomplished scam is your wits.
PayPal Fees For Buying Ethereum
|Amount Per Purchase||Payable Fees|
|$1 to $24.99||$0.50|
|$25.01 to $100||2.30%|
|$100.01 to $200||2.00%|
|$200.01 to $1,000||1.80%|
|$1,000 and above||1.50%|
Read also: How to Buy Telcoin!