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PayPal isn’t the cheapest way to buy and sell cryptocurrency, so if you’re going to be trading large amounts it is worth comparing other cryptocurrency exchanges and platforms to potentially save money.
Here’s how to buy crypto with PayPal which can only be done through a US PayPal account. You can do so by using the PayPal app or by accessing your account online after you log in:
After buying cryptocurrency through PayPal you’ll be able to see your total balances in your account. Because PayPal stores your crypto for you, if you want more control over your private keys you’ll need to use a different method to buy cryptocurrency.
Transaction fees are applied to your purchase when you buy or sell.
Buy or Sell amount | Fee | Fee estimates |
---|---|---|
$1 – $24.99 | $0.50 | $0.50 |
$25 – $100 | 2.30% | $0.575 – $2.30 |
$100.01 – $200 | 2% | $2 – $4 |
$200.01 – $1,000 | 1.80% | $3.60 – $18 |
$1000.01+ | 1.50% | $15+ |
Fees accurate as of November, 2021.
Sometimes you can save on fees by buying a bit 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.
Although PayPal may add support for more cryptocurrencies in the future, currently only four are supported.
Because PayPal doesn’t allow you to import or export cryptocurrency private keys, like you can do with a hardware wallet, you’ll only be able to sell crypto bought through PayPal.
To sell cryptocurrency:
It’s possible to buy bitcoin with PayPal if you have a US PayPal account, but the high fees involved and shortage of platforms that accept PayPal payments means that there are other more cost-effective and convenient options available.
Rather than funding your PayPal account from your credit card and then using that balance to buy crypto, you could use a platform that allows you to buy crypto directly with your credit card.
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