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How to buy cryptocurrency with PayPal in South Africa

Step-by-step instructions on how to buy bitcoin and other cryptos using PayPal in South Africa.

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.

In 2020 PayPal announced that US residents would be able to purchase bitcoin through the PayPal app, South African residents however, are not currently eligible.

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.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Compare ways to buy bitcoin with PayPal in South Africa

1 - 20 of 34
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Exchange Criptovalute
Carta di credito, Criptovalute, Carta di debito, PayPal
BTC, ETH, LTC, XRP, XLM, WXT, DAI, MRK, YFI, UNI & altre 20

58
cryptocurrencies

Ottieni un Bonus Benvenuto di 15€ in WXT quando ti registri a Wirex tramite Finder. Si applicano T&C.
Paga con una serie di criptovalute ovunque Mastercard sia accettata con la Wirex Crypto Card e guadagna cashback.
OKX Cryptocurrency Exchange
OKX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, iDEAL, PayPal, POLi, SEPA, Faster Payments (FPS)
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP

320
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Plateforme d'échange de cryptomonnaie Wirex
Plateforme d'échange de cryptomonnaie Wirex
PayPal, Carte bancaire, Virement bancaire (SEPA), Cryptomonnaie
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
cryptocurrencies

Profitez dun bonus de bienvenue de 15 USD en WXT lorsque vous vous inscrivez à Wirex par le biais de Finder. Les conditions générales s'appliquent.
Payez en cryptomonnaie partout où les cartes Visa sont acceptées avec la carte Wirex Crypto et gagnez des récompenses.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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 Mastercard is accepted with the Wirex Crypto Card and earn rewards.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
Wirex Cryptocurrency Exchange
Wirex Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, PayPal
EUR, GBP, CAD, CZK, HUF, PLN, RON, HRK, USD

58
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.
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Compare up to 4 providers

Can you buy Bitcoin with the PayPal app?

PayPal now offers the ability to purchase bitcoin and several other cryptocurrencies through the PayPal app, however, this feature is not available to residents outside of the US. PayPal has not announced any plans to rollout the feature in South Africa.

Why don’t more exchanges offer PayPal?

This is mainly due to one simple fact: while PayPal supports chargebacks, bitcoin (and other crypto) transactions are irreversible. As a result, it’s relatively easy for someone to buy bitcoin with PayPal, complain that they never received the BTC they purchased and ask for a chargeback – that way scammers can keep their money and essentially get bitcoin for free.

Because of this heightened risk of fraud, there are only a handful of crypto trading platforms and exchanges that accept PayPal deposits.

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; however, you can use the VirWox platform to exchange fiat currency for SLL (Second Life Linden Dollars), which you can then use to acquire bitcoin.
  • 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

Pros

  • If you already have a PayPal account, payment is quick and convenient
  • Safe and secure payment method
  • Allows you to buy crypto with South African rand (ZAR)

Cons

  • Very high fees substantially increase the cost of the transaction
  • If the platform doesn’t accept ZAR, currency conversion fees apply
  • Limited number of platforms support PayPal

Must read: PayPal fees

If you’re considering buying crypto with PayPal, make sure you’re aware of all fees involved:

  • Many trading platforms impose high fees on PayPal transactions. These could be as much as 10% of your transaction amount.
  • If you’re buying through a platform that doesn’t accept ZAR, currency conversion fees may also apply. If you’re converting to US or Canadian dollars, PayPal’s fee is 3.5% above the exchange rate. For all other currencies, the fee is 4% above the exchange rate.

4 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.

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.

FAQs

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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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

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