Yes, now it is possible to buy Ethereum with PayPal and even at low fees!
Are you looking for the best places to buy Ethereum with PayPal? Are you wondering if PayPal is a safe and secure option when buying ETH? This guide will cover these topics.
When you buy Ethereum, you’ll need to store it in an Ethereum wallet – the crypto exchange we recommend below, eToro.com, provides a free crypto wallet for you to hold your funds.
How to Buy Ethereum with PayPal at the lowest fees
eToro has been a reputable broker in the stocks, forex, and crypto industries for over a decade, and is rated by the Economic Times as one of the best crypto exchanges.
It has over 20 million global active users. It is a highly secure online trading platform, licensed and regulated by agencies in the UK, Cyprus, and the US that include the FCA, CySEC, ASIC, MiFID, and FinCEN.
As far as cryptocurrency fees are concerned, the spreads are a little wider than other assets to even out the market volatility. Some cryptocurrencies like Ethereum go through more than 15% of price increase/ decrease in just one day.
Ethereum’s spread on eToro is 1.90%, which is lower than many other popular trading sites. It has a $10 inactivity fee and a $5 withdrawal fee. Opening an account and depositing funds on eToro is free.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Buy Ethereum with PayPal and sell in your country
If you want to buy Ethereum with PayPal in the UK, then eToro is the best platform. Since the eToro crypto platform is regulated by the FCA, ASIC, and CySEC, customers and their funds remain protected in either of the platforms.
eToro is in general a convenient platform to buy crypto with PayPal internationally.
To buy Ethereum on eToro, simply follow the steps mentioned below. Once you’ve made your account and the initial deposit on the platform, browse across the overview screen and click on the Ethereum market. Click on “buy” thereafter.
Steps to buying ETH with Paypal on eToro
Step 1: eToro Sign Up
- Visit the eToro website and click ‘Sign Up’.
- Submit some personal details like your name, email address, phone number, and password.
- To quicken the process, you may also sign up through your Facebook or Google accounts
Step 2: KYC & Verification
- You will need to provide identity proof. Upload a copy of either your driver’s license or passport. KYC process is mandatory for every user.
Step 3: Deposit funds by selecting Paypal as your payment method
- Select PayPal as your payment method
- Deposit the amount of your choice to your eToro wallet
- Search for Ethereum in the search bar on the platform and buy Ethereum. Take a look at the price of the digital coin before you buy it.
- eToro has a minimum deposit of $10, which is lower when compared to other popular trading platforms.
What to keep in mind while you buy Ethereum with PayPal?
You should complete the verification process before you go ahead and make your crypto purchase. To have uninterrupted access to the platform, completing the verification is necessary. If you want to save the waiting time at any later stage, then go through the entire verification process once and for all.
Also, when you add many layers of authorization, you will automatically be more secure. In this way, you will have an account that is safer and is well integrated to ensure seamless accessibility when you buy Ethereum or any other asset on the platform with PayPal.
You should be aware of phishing links and never trust suspicious emails. You may come across PayPal phishing links frequently and the notion of phishing with cryptocurrency can be challenging. These links are used to trick users to submit their credentials or make cryptocurrency deposits.
You should always check the browser’s security indicator whenever you log into your account or access sensitive information. (Chrome has a lock symbol on the URL bar, which you can click to check the info out). This helps you to know about the site provider and the additional specifications of the site you are currently on.
In case you use a lesser-known third-party exchange, make an effort and do your research to understand how reliable the exchange is.
Do your thorough study before you go ahead to buy any asset online. Never go for sites that talk about buying Ethereum with PayPal if you haven’t heard about them anywhere on the internet. If the sites have no online reviews or acclamations, then better to let it pass. Stay away from the scams targeting the cryptocurrency and PayPal community.
Ethereum vs PayPal
To buy Ethereum with PayPal, you must understand both Ethereum and PayPal well. When you are about to use both of these platforms, having the right knowledge about them will help you to make an informed decision. Our review below will help you to understand how both these platforms are similar and how they are different.
How are they similar?
- Ethereum, as well as PayPal, are both payment methods.
- Both provide quick and cost-effective payment methods to users.
- Both are relatively P2P methods.
- Both of these streamline the online payment ecosystem.
- Both PayPal and Ether facilitate international transactions.
How are they different?
- PayPal is a payment platform only whereas Ethereum is both a payment platform and a currency.
- PayPal depends on central systems like banks whereas Ethereum is decentralized.
- Accountants and auditors verify transactions on PayPal, which is time-consuming. Ethereum uses a pubic ledger to facilitate the instant verification of transactions.
- Payment with Ethereum cannot be reversed, while it is not the case with PayPal.
- Ethereum can be used without verification/identification whereas PayPal can be used only after a thorough verification process.
Why should you buy Ethereum with PayPal?
Easy KYC Procedure
KYC or ‘Know Your Customer’ is a verification process to ensure safer purchases and prevent fraud. It also makes sure that your engagement is in tandem with your resident location’s regulatory body. Many exchanges have a necessity that is very time-consuming. Since PayPal has an already-built KYC, which is completed beforehand, it allows you to buy Ethereum at any time with convenience.
Bank Details Not Required
Sometimes users are not comfortable in linking their bank account to an online exchange. PayPal is a great option in this regard as it enables you to buy Ethereum without your bank details. You can proceed with your purchase without putting much financial information online.
Integration with Reliable Exchanges
Verified PayPal integration is available only for reliable and select exchanges. This means that only the best exchanges facilitate validated PayPal implementation. You can be assured of being in safe hands when using PayPal on these platforms.
Quick Payments / Transfers
PayPal enables quick payments and the transfer of funds. The process is instant and uninterrupted. As long as you have the funds in your account, you can use them almost immediately to make your crypto purchase.
Since cryptocurrencies are entirely immutable, you are not entitled to refunds or chargebacks in many cases. This is not the case with PayPal. It enables chargebacks in the case of fraudulent payments.
Buying Ethereum with Paypal on eToro – Summary
- Over 20 million users globally
- Regulated by FCA, ASIC, and CySEC
- Deposits with Bank transfer, Credit card, Paypal, Skrill, etc.
- Copy Trading
- Demo Account
- Social Trading Community
- Free Secure Wallet – Unlosable Private Key
- Copytrade Crypto Traders with 83.7% yearly average profit
- ETH, ADA, and TRX Staking Rewards
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Can I buy Ethereum with PayPal on any exchange?
No. You can buy Ethereum with PayPal only on a supported exchange with PayPal integration. Before you buy Ethereum, be sure that PayPal is integrated.
Can I use USD to buy Ethereum on PayPal?
Currently, directly converting your USD for Ethereum on PayPal is not possible. You can make USD deposits to eToro to buy and sell Ethereum through the platform.
Can I sell Ethereum on PayPal?
No, you cannot sell Ethereum on PayPal. You can sell Ethereum to fiat currency on certain exchanges and subsequently use your PayPal to withdraw funds.