Buy Ethereum (ETH) with PayPal
How to Buy Ethereum with PayPal - The Complete Guide For 2022
Making money and investing it has never been much easier with Paypal. PayPal saw the explosion of the crypto market and decided to make it much easier for its users. Those who receive cash via Paypal can now purchase crypto directly from their account. PayPal has built a feature that allows you to buy and sell crypto tokens. Not until 2020 you would need to transfer cash to a crypto exchange before making a crypto purchase manually. For those whose banks have placed restrictions on crypto purchases, PayPal is the better option to carry out crypto trades.
Even though PayPal seems like the best option, it has some drawbacks. The app comes with no option for withdrawal or transfer. Users can only buy or sell Ethereum via PayPal E-wallet. While this feature is perfect for beginners who only need to buy and hodl Ethereum, it is not the best option for advanced traders. Nevertheless, traders looking for more flexibility with their tokens can look into other alternative ways of buying Ethereum with PayPal. All you need is to buy Ethereum from an exchange that accepts PayPal as a means of payment.
Let’s look into some of the top platforms that allow you to buy Ethereum with PayPal.
Top 3 Platforms to Buy Ethereum with PayPal Coinbase
Coinbase stands as one of the best crypto exchanges for US traders and traders worldwide. The platform has selected 96 cryptocurrencies available to users. They also offer about 80 crypto-to-crypto pairs and ten crypto/USDC pairs. You can also trade dozens of tokens for/with Ethereum. In terms 0f security, Coinbase shines. The platform stores more than 98% of users’ funds in cold storage. The remaining funds held online are insured against online breaches.
Coinbase has two trading platforms—the original Coinbase and Coinbase Pro. Coinbase Pro has excellent charting functions and trade options, perfect for professional traders. For beginners and intermediate traders, there is Coinbase earn. Here, you can learn about crypto with video classes, take examinations, and earn tokens. If you are starting, you can purchase crypto with a small $2. Traders can also utilize the mobile app for fast trades.
Additionally, Coinbase customer support is top-notch. You can reach out via chat, emails, Twitter, and even calls. Unlike other crypto exchanges, it is clear that Coinbase has its users in mind.
Pros
- Accepts PayPal
- Excellent customer support
- Crypto-to-crypto trading
- Funds are insured
Cons
- Complicated fees structure
eToro
eToro is one of the recommended platforms to buy Ethereum with PayPal. The platform has existed for over a decade, and it is also accessible in 120 countries. Even though the eToro platform is designed as a CFD trading platform, you can conveniently buy, sell, and trade Ethereum. On eToro’s exchange, you can buy Ethereum with different payment options, but PayPal appears to be the smoothest.
Interestingly, expert advisors often recommend this platform for beginners because of its ease of use. eToro also allows newbie crypto traders to copy the trades of experts. This can be referred to as copy/social trading. Usually, you’ll be required to fund your account with a minimum amount of $200 before you can make a trade. On the angle of fees, eToro offers an industry average fee structure. It charges 0.5% on deposits and a fixed $5 on withdrawals. You’ll also be charged about 0.75% spread on Ethereum trades. When not active for a year, you’ll be required to pay $10 monthly.
Pros
- Accepts Paypal
- Copy-trading feature
- Extensive collection of listed crypto tokens
- Great User Interface
Cons
- Lacks technical charting tools for advanced traders
Crypto.com
Crypto.com is one of the world’s fastest-growing crypto exchanges. Users can choose from a wide range of cryptocurrency tokens with the mobile app platform. It dominates the crypto market by offering its users access to over 180 cryptocurrencies. Users also prefer to conduct transactions as they are charged nothing on bank transfers and crypto trading. For debit/credit card transactions, users are charged 2.99%. You’ll also be charged specific fees depending on the crypto token on withdrawals. On crypto.com, you can start buying Ethereum with a minimum of $1.
The platform can only be accessed via a mobile app, perfect for mobile-first traders. The app is available for iOS and Android users. From the app, users can connect with other DeFi wallet apps. With the DeFi wallet app, users can stake their Ethereum and earn returns. There is also an NFT marketplace to buy your favorite digital art, tickets, and other digital files. Crypto.com also provides a digital wallet for its users where they can securely keep their Ethereum. Unlike other exchange wallets, the crypto.com wallet is safe. Users’ funds are moved to cold storage, and they are also insured against a loss. The company is insured up to $750 million.
Pros
- 180+ crypto tokens
- Low fees on cash transfers, inactivity, and trades
- Earn rewards on crypto staking
- Offers visa card
Cons
- Poor customer support
- Crypto-to-crypto trade is not supported
Benefits of Buying Ethereum with PayPal
Traders prefer to buy Ether with traditional means like bank transfers or cards. However, the transaction may not fall through due to their local bank restrictions and other reasons. Don’t be surprised to hear that the upsides of using PayPal supersede the downside. In the following paragraphs, you’ll find the potential benefits of buying Ethereum with PayPal.
Fast Deposits
Users enjoy fast transactions when they use PayPal on preferred crypto brokers. Unlike bank transfers, which take a few working days to reflect on your trading account, PayPal is seamless. If you are buying with a broker like eToro, the transaction is instant, and then the amount is automatically deducted from your PayPal balance—provided your PayPal is linked.
Sometimes, users can fund a PayPal transaction with a bank account linked to their account. This only happens at PayPal’s discretion. Also, it depends on how long you’ve been a PayPal customer.
Instant Withdrawals
Have you tried withdrawing to your debit/credit card or via bank transfer? You’ll know it takes a few working days to reach its destination if you have. It is not the same for e-wallet withdrawals. When withdrawing Ethereum, you receive funds faster with PayPal. This speed is as a result of fewer checks in the withdrawal process. PayPal has already carried stringent verification processes, unlike your traditional bank institution, even before linking your account. Hence, they conduct little checks on transactions.
Security
Buying Ethereum with PayPal comes with some level of security. When using PayPal on a broker, you only need to link your PayPal account details without disclosing your card details. Another benefit is that PayPal offers what they call ‘Buyer protection’. It works like your card provider’s chargeback. This protection is a service that covers you when you attempt to purchase illegal goods and services.
Ease of Use
When without your card, PayPal can allow you to conduct transactions seamlessly. With PayPal, you need not carry your card every time with you, provided you remember your login details.
Conclusion
Finally, you can now buy Ethereum with PayPal. Whether you earn on PayPal or you just want to avoid your local bank restrictions, you can buy Ethereum seamlessly. Not only are PayPal transactions seamless, but it is also secure. Interestingly, you can choose to buy Ethereum directly from the PayPal app or from your selected crypto exchange.
BWCEvent aspires to share balanced and credible details on cryptocurrency, finance, trading, and stocks. Yet, we refrain from giving financial suggestions, urging users to engage in personal research and meticulous verification.
