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How to buy Litecoin with PayPal in the US

Find out how to buy and sell Litecoin as well as the transaction fees involved when purchasing this cryptocurrency.

In 2021, PayPal, a leading global payment provider, became one of the first in the sector to offer the ability to purchase and store cryptocurrencies. Users can now store and hold digital assets thanks to a partnership with Paxos Crypto Brokerage. Litecoin was chosen as one of four cryptocurrencies selected for the application.

How to buy Litecoin with PayPal

When using PayPal, the purchase of cryptocurrencies can be accessed via both the website and mobile application. Only $1 is needed to make your first cryptocurrency purchase.

How to buy Litecoin:

Step 1. Home dashboard. Once logged in to PayPal, you will need to find the cryptocurrency section of your dashboard. This can usually be found on the home screen. Alternatively, access it via paypal.com/myaccount/crypto/.

Step 2. Select the cryptocurrency. PayPal currently offers access to Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Select Litecoin from the list.

Step 3. Verify account. When purchasing cryptocurrencies for the first time, you may need to verify your account. Follow the procedures listed within the application or website.

Step 4. Choose the amount and payment method. Determine the amount of Litecoin you would like to buy and enter the amount. Next, you need to select your payment method. This can either be a bank account, debit or credit card or any outstanding PayPal balance.

Step 5. Review and buy. It is important to check over the details of your transaction. Once checked, click “Buy Now” to confirm.

It may take a few moments for the transaction to complete. Once complete, your Litecoin holdings should appear within the wallet feature of the PayPal website or mobile application.

Holdings are within PayPal only

Unfortunately, PayPal does not currently offer a way to transfer cryptocurrencies out of the platform. This means Litecoin must remain on the platform or be converted back into US dollars. If you would like to control the private keys to your Litecoin or you wish to utilize your Litecoin within other cryptocurrency applications, another purchase method may be required. In May 2021, PayPal announced that it would be offering the ability to transfer Bitcoin from the platform in the near future. However, it is unclear when this will happen and whether this will extend to Litecoin.

Pros and cons of buying LTC with PayPal

Pros

  • Quick purchases. Once payment options have been set up, cryptocurrencies can be purchased in just a few clicks on the PayPal platform.
  • Payment options. PayPal offers flexibility for crypto purchases. Users can buy cryptos using bank transfers, credit or debit cards and outstanding PayPal balances.
  • User-friendly. The PayPal platform is widely used by millions worldwide – it is both efficient and easy to use.
  • Mobile app. Alongside the PayPal website, the mobile application is available for access on the go.
  • Live tracking. Cryptocurrencies within PayPal track live prices, which means a user can keep track of a portfolio’s performance.

Cons

  • No transfers. Cryptocurrencies cannot yet be moved from the platform. This means they cannot be used within other third-party apps or stored within a personal cryptocurrency wallet.
  • Non-custodial. The inability to transfer means that crypto investors do not have full control over private keys. This ultimately means they do not have full control of their digital assets.
  • High fees. Transaction fees within the PayPal platform are higher than most dedicated cryptocurrency exchanges.
  • Variety. There are currently only 4 cryptocurrencies to choose from on the platform. Other exchanges offer access to tens to hundreds of different cryptocurrencies.

PayPal Litecoin fees

Transaction fees are applied to your purchase when you buy or sell LTC.
Fees are accurate as of 06 September 2021.

Buy or Sell amountFeeFee estimates
$1 – $24.99$0.50$0.50
$25 – $1002.30%$0.575 – $2.30
$100.01 – $2002%$2 – $4
$200.01 – $1,0001.80%$3.60 – $18
$1000.01+1.50%$15+

Note: Sometimes you can save on fees by buying more cryptocurrency. For instance, you’ll pay less in fees to buy $200 in crypto than you would to buy $199. Consider making one larger purchase to save on fees instead of many smaller purchases, if possible.

The exchange rate shown when purchasing will include a market spread. This is the difference between the exchange rate offered and the true market price. When buying Litecoin, a slightly higher market price will be offered. When selling Litecoin, a slightly lower market price will be offered. The difference is then split between the background market maker and PayPal.

How to sell Litecoin on PayPal

PayPal does not currently allow users to transfer Litecoin out of the platform. To access funds, a user will need to sell Litecoin for a chosen fiat currency and then subsequently withdraw funds to their bank account.

How to sell Litecoin:

Step 1. Cryptocurrency section of PayPal. Once logged in to your PayPal account, click on the cryptocurrency section of the PayPal dashboard. This can usually be found on the home screen. Alternatively, access it via paypal.com/myaccount/crypto/.

Step 2. Select the cryptocurrency. PayPal currently offers access to Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Select Litecoin from the list.

Step 3. Click sell. When selling cryptocurrencies for the first time, PayPal may ask you to provide some tax information for the account.

Step 4. Choose sale amount. Enter the amount of Litecoin you wish to sell.

Step 5. Review and sell. It is important to review a transaction before completing it. Check the details of your transaction and click “Sell Now” to confirm your sale.

Compare other ways to buy and sell Litecoin

PayPal users have undoubtedly benefited from access to cryptocurrency assets; however, the payment provider is certainly not the only option for those looking to purchase Litecoin. Dedicated cryptocurrency exchanges can often offer access to a wider range of cryptocurrencies with transaction fees that are a fraction of the cost. If you are thinking of purchasing significant amounts of Litecoin, remember to compare the fees and exchange rates of alternative platforms below.

Name Product Deposit methods Fiat Currencies Cryptocurrencies
eToro USA LLC Cryptocurrency Trading
Wire transfer, Online banking
USD

25
cryptocurrencies

Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.
SoFi Cryptocurrency Exchange
SoFi Cryptocurrency Exchange
Bank transfer
USD

21
cryptocurrencies

Instantly purchase a handful of leading cryptocurrencies with the SoFi app, which also insures your coins against potential hacks or theft.
KuCoin Cryptocurrency Exchange
Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

434
cryptocurrencies

Finder exclusive: Sign up and use code 1xf56 for one month of VIP 1 benefits. Deposit/transfer more than 0.1 BTC to KuCoin within 7 days of registration for 1 month of VIP 2 benefits. T&Cs apply.
Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

134
cryptocurrencies

Buy 100+ cryptocurrencies, earn up to 14.5% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

302
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Coinmama Cryptocurrency Marketplace
Bank transfer, Credit card, Debit card, SWIFT, SEPA
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Binance.US Cryptocurrency Exchange
Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
USD

58
cryptocurrencies

Get a US$15 bonus when you trade US$100 or more of any supported crypto. T&Cs apply.
Trade with USD on Binance.US, the American dollar onramp of the world’s largest cryptocurrency exchange. Non-US residents can read our review of Binance's main exchange here.
Gemini Cryptocurrency Exchange
Bank transfer (ACH)
USD, AUD, CAD, EUR, GBP, SGD, HKD

48
cryptocurrencies

Trade bitcoin, Ethereum and more at a US-based exchange where payments can be made in USD.
Robinhood Cryptocurrency Exchange
Bank transfer, Cash, Debit card
USD

17
cryptocurrencies

Trade a handful of leading cryptocurrencies with this easy to use mobile app.
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Compare up to 4 providers

Bottom line

PayPal is one of the leaders when it comes to cryptocurrency adoption among global payment providers. The option to purchase, store and sell 4 different cryptocurrencies has been warmly welcomed by many PayPal users.

However, the inability to transfer digital assets off the platform is a stumbling block for most. Many users purchase cryptocurrencies with the intention of storing them within personal cryptocurrency wallets to remain fully in control of their assets. Combined with higher than average transaction fees, many crypto investors may find other platforms more suitable.

To understand what to look out for when purchasing cryptocurrencies, check out our cryptocurrency exchange guide.

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