How to Buy Bitcoin With PayPal in 2024?

Ever since PayPal introduced the option to buy, sell, and hold crypto in 2020, it has become much easier to buy Bitcoin with PayPal. However, to avoid high fees and the lack of advanced analysis tools, you might want to buy it outside the world’s leading e-wallet while still using your PayPal balance.

That’s precisely what this guide aims to cover. Read on to discover the steps for buying BTC with PayPal and the best platforms to use. You’ll also learn the benefits of this method, the levels of safety, the fees you need to worry about, and more. Let’s begin.

Where to Buy Bitcoin With PayPal 

You can buy Bitcoin using PayPal on numerous regulated exchanges and other crypto trading platforms. Here are some recommendations you should consider.

Exodus

Exodus is one of the most popular non-custodial crypto wallets, and it comes with built-in trading capabilities. It covers crypto purchases and crypto swaps and even offers multi-chain support. It operates on most devices because it offers apps for desktop and mobile, as well as a browser extension.

Exodus lets US clients use PayPal to buy Bitcoin. You can choose to pay via your bank account or debit card linked to PayPal, and you can also go for your PayPal balance.

You can safely store your BTC on Exodus, but it is also possible to buy a hardware wallet for extra security. Exodus has partnered with Trezor, so it will be easy to transfer between the two.

Ledger

Ledger is one of the most reputable and secure hardware wallet providers in the crypto market, known for its advanced security features, including certified secure chips and a custom OS. While Ledger doesn't operate as a traditional exchange, it enables its users to buy and manage various cryptocurrencies directly through Ledger Live, its official app. Ledger Live also enables users to buy several cryptocurrencies, including Bitcoin, with PayPal.

This hardware wallet not only enables you to buy BTC with PayPal, but makes owning BTC highly secure as it keeps your private keys offline. Transaction fees vary depending on network conditions, but the device itself has no additional fees for storing or managing crypto.

Other than that, Ledger Live offers a simple and user-friendly interface for buying, selling, and managing crypto assets while connecting seamlessly with Ledger hardware wallets.

Gemini

Gemini is a popular crypto exchange offering a safe trading environment suited for beginners and seasoned traders alike. It’s also one of the leading P2P crypto trading platforms with a good regulatory compliance history.

You can buy Bitcoin with PayPal instantly because Gemini offers instant purchases when using select payment methods, including PayPal. However, it does charge a 2.5% fee from the total deposit amount on top of its trading fees.

It supports over 70 cryptocurrencies and offers insurance coverage for your digital funds so you can keep your BTC assets safely stored on the platform.

Kraken

Kraken, founded in 2011, is one of the longest-standing and most trusted cryptocurrency exchanges, known for its robust security measures and regulatory compliance, particularly in the US, Europe, and select other regions. Offering a comprehensive range of trading options, Kraken allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin, directly with PayPal integration on third-party platforms. However, it's important to note that Kraken only supports PayPal deposits from the United Kingdom, the European Union (excluding Hungary and Croatia), and Australia.

It makes buying BTC relatively affordable and straightforward, with competitive fees and advanced trading tools. Kraken’s fees will vary depending on the region and are displayed on the final confirmation page.

PayPal deposits on Kraken have a 1,000 EUR daily rolling limit, as well as a minimum deposit of 1 EUR (GBP equivalent). When it comes to Australian users, the weekly rolling limit comes to 7,000 AUD, with a minimum deposit of 1 AUD.

Coinbase

Coinbase is a well-known and beginner-friendly crypto exchange. The fact that it is publicly traded and fully regulated in the US makes it a popular choice for users who prioritize ease of use and regulatory compliance. Coinbase enables users to buy Bitcoin and other cryptocurrencies directly with PayPal, providing a simple and familiar payment option for new and experienced investors alike.

Buying BTC on Coinbase is straightforward, with a transparent fee structure that includes both flat-rate fees and percentage-based fees for larger transactions – all visible on the confirmation screen. For PayPal purchases, fees are generally higher (around 4%) than bank transfers but provide added convenience and speed.

Coinbase has a daily PayPal purchase limit of $25,000. Note that not every region is supported for PayPal deposits and withdrawals; for example, cash withdrawals to PayPal are only available in the US, Canada, EU and UK.

Is PayPal the Best Way to Buy Bitcoin?

Buying BTC on a crypto exchange with PayPal is great for anyone who uses PayPal extensively. However, if you prefer other payment methods, then opting for them can easily be a better solution for you.

The main reason behind this is that you’ll often only deposit funds to your exchange account using those payment methods, while the very act of buying BTC will be done within the exchange.

Buying Bitcoin With PayPal vs. Credit Card

Whether you’re using PayPal or a credit card, depositing funds on a crypto exchange to buy BTC works largely the same. Both options are often available, with almost every exchange covering cards. However, there’s a difference between debit and credit cards, as some platforms, like Gemini, only permit the former.

In most cases, there’s no fee for depositing, but if you’re buying using PayPal or a credit card and not the funds you have on the platform, you’ll have to pay the trading fee PayPal or the credit card provider charges.

Other Ways to Buy Bitcoin

Besides PayPal and credit cards, there are other payment methods you can use to buy BTC. These vary across platforms, but the most common options include:

• Debit cards
• Bank transfer
• Neteller
• Skrill
• Google Pay
• Apple Pay
• Other cryptocurrencies

Fees for Buying Bitcoin With PayPal

If you’re buying BTC directly on PayPal, you’ll have to pay a trading fee of around 1.8%. Note that this applies to trades between $200 and $1,000, while those above come with a 1.5% fee, and those below have fixed charges ranging from $0.49 to $2.49. There’s also a spread fee that depends on market conditions. Due to this, the total fees can often be 3% or more.

However, if you’re buying Bitcoin on other platforms while still using PayPal, the situation is different and less expensive. There are also spread and trading fees, but that’s it. The former usually depends on the market conditions, but the trading fee is typically lower than that on PayPal.

If you want to buy BTC with PayPal on an exchange or wallet, you usually won’t have to worry about deposit fees because platforms like Exodus don’t have them.

Conclusion

If you’re looking to buy Bitcoin with PayPal, now you know that the process can be incredibly simple, fast, and cheap if you’re using a reputable crypto wallet like Exodus. You can go for various other options, including PayPal itself, as it lets US users buy, sell, and store BTC.

However, Exodus seems to be a better choice because it comes with added functionalities like staking, as well as non-custodial BTC storage. As soon as you download the app, you can buy BTC with PayPal and either hold or trade it.

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