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PayPal crypto allows you to buy, hold and sell four cryptocurrencies in the US: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Once you verify your identity, you can make a purchase through PayPal’s app or website and get started with as little as $1.
However, if you don’t want to buy cryptocurrency directly through PayPal, there are also exchanges that support PayPal as a deposit method. This allows you to transfer funds from your PayPal account on the exchange and then trade them for crypto.
Buying and selling cryptocurrencies through PayPal can be done through the PayPal mobile app or by accessing your account via a web browser on your desktop and following a few simple steps.
Transaction fees are applied to your purchase when you buy or sell. Sometimes you can save on fees by buying a bit more cryptocurrency. For instance, you’ll pay less in fees to buy $201 in crypto than you would to buy $199.
Fees are accurate as of January 4, 2023.
| Buy or Sell amount | Fee |
|---|---|
| $1 – $4.99 | $0.49 |
| $5 – $24.99 | $0.99 |
| $25.00 – $74.99 | $1.99 |
| $75.00 – $200.00 | $2.49 |
| $200.01 – $,1000.00 | 1.80% |
| $1,000.01 | 1.50% |
Pros
Cons
Although PayPal may add support for more cryptocurrencies in the future, currently only four are supported.
You can now use PayPal as a payment method on a number of different crypto exchanges and brokerages. These include but aren’t not limited to Binance.US, bitFlyer, Bitstamp, CEX.IO, Coinbase, eToro, Gemini, Huobi, KuCoin, LocalBitcoins, Paxful, Revolut and SoFi.
When you are ready to make your crypto purchases at these exchanges, select PayPal as the payment option. PayPal will then deduct the money from the balance that you hold on the app or the primary bank account or credit/debit card that you have linked to your PayPal account.
There are many crypto exchanges and platforms that accept PayPal as a deposit method where you can use your PayPal funds to purchase Bitcoin.
Because PayPal doesn’t allow you to send your crypto to another wallet or exchange, you’ll only be able to sell your crypto back to PayPal.
To sell cryptocurrency
Buying BTC or other cryptocurrencies on PayPal is easy and convenient, but the transaction costs are high and you can’t send your BTC or other cryptos from your PayPal account to another crypto wallet.
If being able to hold your BTC self-custody is important to you and you still want to use PayPal to purchase your BTC, you can do so through a traditional crypto exchange using PayPal as your payment method.
Many major crypto exchanges including Coinbase, Gemini and Paxful now support PayPal as a payment option and make it easy to buy BTC with your PayPal account.
Venmo offers a quick and easy way to buy Bitcoin (BTC) and other major cryptocurrencies.
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