How to buy cryptocurrency with PayPal

There are many different ways to buy cryptocurrency, but using PayPal has long been seen as one of the most difficult and inconvenient methods available. PayPal is only accepted as a form of payment on a limited number of platforms, and often incurs additional fees.

That said, it’s still possible to buy bitcoin with PayPal if you want to. Keep reading to find out where and how to do it.

Compare ways to buy bitcoin with PayPal in Singapore

Sort by:

Name	Product	Deposit methods	Fiat Currencies	Cryptocurrencies
KuCoin Cryptocurrency Exchange		Cryptocurrency, PayPal, Wire transfer, Credit or Debit Card, SEPA	USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more	599 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.	Go to site View details	Compare	loading Fetching your data...
OKX Cryptocurrency Exchange		Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)	USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more	310 cryptocurrencies	Earn US$10 in BTC when you refer a friend and they purchase $100 of cryptocurrency. T&Cs apply. Listing over 300 cryptocurrencies, OKX offers its users a variety of payment methods and coins to choose from.	Go to site View details	Compare	loading Fetching your data...
AAX Cryptocurrency Exchange		Alipay, Bank transfer, Cash, Neteller, PayPal, Qiwi, WeChat, Western Union, UPI, IMPS, Paytm, Faster Payments (FPS), PayNow, Swish, Payme, SWIFT	AUD, CAD, CNH, CHF, EUR, GBP, HKD, NZD, SGD, USD	110 cryptocurrencies	Get 50 USDT when you sign up through Finder, make USD 10k+ trades and deposit USD 500 worth of crypto. T&Cs apply. Make fast transactions including spot, futures and P2P trading with this cryptocurrency exchange.	Go to site View details	Compare	loading Fetching your data...
Wirex Cryptocurrency Exchange		Credit card, Cryptocurrency, Debit card, PayPal	USD, SGD, AUD, NZD, JPY, HKD, EUR, GBP & 3+ more	9 cryptocurrencies	Get a Welcome Bonus of USD 15 in WXT when you sign up with Wirex through Finder. T&Cs apply. Spend a range of cryptocurrencies anywhere Visa is accepted with the Wirex Crypto Card and earn rewards.	Go to site View details	Compare	loading Fetching your data...
Paxful P2P Cryptocurrency Marketplace		Bank transfer, Cash, Cryptocurrency, PayPal, Credit or Debit Card, Payoneer	DZD, XCD, ARS, AMD, AWG, AUD, AZN, BSD, BHD, BDT & 140+ more	3 cryptocurrencies	Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.	Go to site View details	Compare	loading Fetching your data...
Coinbase Digital Currency Exchange		Bank transfer (ACH), Credit card, Debit card, PayPal, Bank transfer (SEPA)	USD, EUR, GBP, CAD, MXN, HRK, CZK, DKK, CLP, BGN & 10+ more	174 cryptocurrencies	Get £5 free with your first trade. T&Cs apply. Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.	Go to site View details	Compare	loading Fetching your data...
Coinbase Pro		Bank transfer, Cryptocurrency, Debit card, PayPal, Wire transfer	USD, EUR, GBP	128 cryptocurrencies	Formerly known as GDAX, Coinbase Pro is a US-based exchange which offers fiat currency payment options, including wire transfer, ACH bank transfer and SEPA.	View details	Compare	loading Fetching your data...

loading

Compare up to 4 providers

Clear selection

Compare

Types of platforms you can use

There are a few different options to choose from if you want to use your PayPal account to buy cryptocurrency:

• Peer-to-peer marketplaces. The first option is to buy crypto through a peer-to-peer marketplace, such as LocalBitcoins or Paxful. These exchanges allow buyers and sellers to trade directly with one another, giving the seller the freedom to set their own exchange rate and accepted payment methods. Some sellers accept PayPal, and you can filter your search of available deals on the marketplace by payment method to help find a suitable seller.
• Cryptocurrency exchanges. Most exchanges don’t accept PayPal payments; but do keep an eye out if your preferred exchange introduces PayPal as an acceptable mode of payment.
• Peer-to-peer lending platforms. xCoins is a peer-to-peer lending platform for bitcoin lenders and borrowers. It accepts PayPal as a payment method for people wanting to access a “secured loan” of bitcoin.

Pros and cons of buying crypto with PayPal

3 sites you can use to buy bitcoin with PayPal

Let’s take a closer look at how to buy bitcoin with PayPal on four popular platforms.

• 1. How to buy bitcoin with PayPal on LocalBitcoins

  LocalBitcoins is a peer-to-peer marketplace where you can connect with bitcoin buyers and sellers in your local area, and make the transfer in a way that suits you both.

  To buy bitcoin with PayPal you’ll need to:

  1. Register for a LocalBitcoins account.
  2. You then have two options:

  • Browse existing ads from BTC sellers on the “Quick Buy” screen. Use the drop-down menu provided to select PayPal as your desired payment method, and click “Buy” if you find a suitable ad. You’ll then be able to view the trade details, enter the amount of SGD you want to spend or the amount of BTC you want to buy, and click “Send trade request”.
  • Place your own ad. This allows you to specify your desired payment method, currency and transaction amount. Please note that you’ll need to complete ID verification before you can post an ad for a trade.

  

  Pros and cons of using LocalBitcoins

  Pros

  • You can buy bitcoin with SGD
  • Platform is simple to use
  • Freedom to search for the price you want

  Cons

  • It might take a while to find a seller that accepts PayPal
  • The rate you get depends on the deals available on the platform

  Find out more in our full review of LocalBitcoins

• 2. How to buy bitcoin with PayPal on Paxful

  Paxful is another peer-to-peer bitcoin marketplace that accepts a long list of payment methods, including PayPal. Here’s an example of how to buy BTC using PayPal on Paxful:

  1. Create a Paxful account.
  2. Link your phone number and set your security questions and settings.
  3. Click the “Buy Bitcoin” link at the top of the screen, then select SGD as your currency and enter the amount you want to spend. Choose “PayPal” as your desired payment method and click “Search”.
  4. You’ll be shown a list of open offers that meet your search criteria. Click “Buy” next to one that satisfies all your requirements.
  5. You’ll then be able to view the trade details and enter the amount of SGD you want to spend or the amount of BTC you want to buy. Click “Buy Now” when you’re ready to proceed with your purchase.

  

  Pros and cons of using Paxful

  Pros

  • Simple, quick and easy
  • Potentially one of the most cost-effective ways to buy bitcoin with PayPal
  • Freedom to search for the deal you want

  Cons

  • Might take some time to find a suitable seller
  • The rate you get depends on the deals available on the platform

  Find out more in our full review of Paxful

• 3. How to buy bitcoin with PayPal on xCoins

  xCoins is a bitcoin lending platform where you can use PayPal to acquire a secured bitcoin loan. Instead of buying or selling bitcoin, users offer loans to each other and set an “interest rate”. Sellers “lend” bitcoin, and buyers take this loan and then repay it in a single payment later on.

  This may sound complicated but in practice it’s quite similar to using a more traditional crypto exchange. Here’s what you’ll need to do:

  1. Sign up for an xCoins account.
  2. Enable 2-factor authentication and verify your ID.
  3. Enter the amount of BTC you want to buy and click “Get Bitcoin”.
  4. Take a moment to review the total cost of the transaction and the amount of bitcoin you will receive.
  5. If you’re happy with the terms, accept the loan agreement and click “Continue to Payment”.
  6. You will be redirected to the lender’s PayPal page where you can enter your PayPal account details and finalise payment.

  

  Pros and cons of using xCoins

  Pros

  • Much simpler than it sounds
  • Quick way to acquire BTC

  Cons

  • High fees
  • Low transaction limits for new users
  • Doesn’t accept SGD deposits

  Find out more in our complete review of xCoins

Bottom line

It’s possible to buy cryptocurrency with PayPal, but should you? The high fees involved and shortage of platforms that accept PayPal payments means that there are other more cost-effective and convenient options available.

For example, 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.

Having said that, there are several trading platforms that support PayPal if you insist on buying using this method. Compare the features and fees of those platforms to find one that’s right for you.

Compare platforms that accept PayPal

FAQs

• Can I buy bitcoin with PayPal on Coinbase?

  No, Coinbase does not currently accept PayPal transfers. At the time of writing, the only supported payment methods for Singaporean buyers are credit and debit cards.

• Can I buy bitcoin through PayPal anonymously?

  Not really. While there are some platforms that allow you to buy cryptocurrency without providing any proof of ID, PayPal isn’t an anonymous payment method. This is due to the fact that you’ll need to fund your PayPal account from a linked bank account or credit card, which will in turn be linked to your identity.

• Is it possible to cash out BTC to PayPal?

  Yes. One option is to sell bitcoin through a peer-to-peer marketplace that accepts PayPal, such as LocalBitcoins or Paxful. Another alternative is to use an exchange where you can sell bitcoin for SGD, then withdraw your dollars to the credit card or bank account linked to your PayPal balance.

• Can I store bitcoin in my PayPal wallet?

  No, you can’t fund your PayPal wallet with bitcoin and BTC cannot be stored in your PayPal wallet. Your BTC will instead need to be held in a dedicated cryptocurrency wallet.

• Are there other ways to buy cryptocurrency with Singapore dollars?

  Yes, there are several crypto exchanges that offer fiat-to-crypto trading and accept deposits via bank account transfer, direct bank transfer, credit card and debit card.

Disclosure: At the time of writing the author holds ADA, ICX, IOTA, POWR and XLM.