how to buy bitcoin with paypal

We can both agree on this:

Buying bitcoins with PayPal is hard and confusing.

Luckily, today we'll show you how easy and fast it can be.

We've put together the complete guide on how to convert PayPal to bitcoin.

It's not super simple, but yes it really works and is the best way to buy bitcoin with PayPal today.


We suggest using the exchanges listed below or doing research before buying from any exchange.

Many exchanges are simply trying to steal your passwords and personal information!

We do research on every exchange we list and are very careful not to include scam exchanges on our site.

eToro Trading Platform

There are not many options for buying bitcoins with PayPal.

VirWoX was the major PayPal to Bitcoin exchange, but it got shut down in January 2020.

eToro is the best way to use PayPal to gain exposure to Bitcoin. It allows you to speculate on the price but access the coins.

  • Popular Exchanges
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

eToro

eToro is a social trading platform, and lets you deposit via PayPal. As mentioned earlier, you don't get to buy actual bitcoins but still gain exposure to its price moves.

etoro review

eToro is available in most countries, but is NOT available in the following countries:

Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Botswana, Brunei, Burundi, Canada, Chad, Congo Republic, Crimea Region, Cuba, Democratic Republic of the Congo, Ethiopia, Guyana, Guinea, Guinea-Bissau, Iran, Japan, Laos, Libya, Mali, Myanmar, Namibia, Nicaragua, North Korea, Palau, Samoa, Serbia, Somalia, Sudan, Syria, Turkey, Uganda, Yemen

eToro is available in the United States, but does not accept PayPal for US customers. If you're in the USA, here are some other ways to buy bitcoin.


Recommendation

Want actual bitcoins?

Were you buying with a PayPal account connected to your credit or debit card?

Then just buy bitcoins with your credit card or debit card directly!

The fees are much lower and you'll get your bitcoins faster.

Still want to buy BTC with PayPal? Keep reading and we'll show you how!

LocalBitcoins

LocalBitcoins also works for buying bitcoin with PayPal. The main issue is there are very low limits.

  • Popular Exchanges
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

  • LocalBitcoins
    • Support for nearly every country
    • Wide range of payment methods accepted
    • Trusted exchange around since 2012

It should work in most countries. There are a wide range of sellers, all with strong feedback scores. See below:


Recommendation

Did you just buy bitcoins? Don't store your bitcoins on VirWoX!

Move them into a Bitcoin wallet that you control.

Frequently Asked Questions

If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site.

The FAQ section below should answer all of your remaining questions.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

As a PayPal merchant, can I accept bitcoins?

There have been rumors of Bitcoin integration for PayPal merchants. At this time, however, this is still no way to accept bitcoins through PayPal's merchant tools.


Recommendation

We understand:

The fees are crazy high for buying bitcoins with PayPal.

Were you buying with a PayPal account connected to your credit or debit card?

Then just buy bitcoins with your credit card or debit card directly!

The fees are much lower and you'll get your bitcoins faster.

Does PayPal Accept Bitcoin as a Deposit Method?

You can't fund your PayPal account using Bitcoin from within PayPal.

However:

Using an exchange like Coinbase you can sell bitcoins to your PayPal account.

Can I Buy Bitcoin with PayPal on Coinbase?

No, you can only sell bitcoins from your Coinbase account TO PayPal.

Is There a PayPal Bitcoin Wallet?

There have been rumors that PayPal has been planning Bitcoin integration.

Even so, PayPal still has not integrated Bitcoin with its services.

Can I Buy Bitcoin with PayPal No ID?

eToro requires ID to purchase although you may be required to use a verified PayPal account.

LocalBitcoins requires ID as well.

What is Paxful?

Paxful is another way to buy bitcoin with PayPal. You can view listings here.

  • Popular Exchanges
  • eToro
    • Supports Bitcoin, Ethereum & 15 other coins
    • Start trading fast; high limits
    • Your capital is at risk

    We do not promote, endorse, or earn commissions from the trading of securities of any kind, including CFDs, however, eToro requires that we provide you with the following disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.


recommendation

Do you want to buy large amounts of bitcoin? Try buying bitcoins with bank transfer instead.

Should I leave my bitcoins on the exchange after I buy?

We really recommend storing any bitcoins you want to keep safe in a wallet you own.

Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins to PayPal?

Yes of course!

As mentioned above, you can use Coinbase in the USA and some of Europe. The fees for selling bitcoins to PayPal are 3.75% using Coinbase.

You can always reverse the process explained in this post, but that comes with the same crazy 10% fees.

Can you buy other cryptocurrency using this method?

You can use this method to buy bitcoins and then trade the bitcoins for another cryptocurrency using an exchange like Poloniex or Kraken.

Does Poloniex accept PayPal?

Poloniex is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal.

Well, the answer is no. Poloniex only deals with cryptocurrency and does not accept deposits using credit card, bank transfer, cash or PayPal.

Does Kraken accept PayPal?

Kraken is currently one of the biggest crypto exchanges and many people want to know if it accepts deposits via PayPal.

Well, the answer is no. Kraken accepts bank transfers, SWIFT, SEPA and ACH.

Does Coinmama accept PayPal?

Coinmama is currently one of the biggest exchanges. Many people want to know if it accepts deposits via PayPal.

Coinmama only accepts bank transfers, SWIFT, SEPA, credit card, debit card and ACH.

Theft, Scams, and Storage

If you get one thing from this article let it be this:

Don't store your bitcoins on exchanges!!!

I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

Here are two examples where users got screwed by leaving bitcoins on exchanges:

And there are many more I could list.

Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.

Besides storage, there are many scam exchanges out to steal your credit card information and/or bitcoins.

Following these two basic principles should help you avoid theft, scams, and any other loss of funds:

  1. Do research before buying on any exchange. Check reviews, ratings, and regulation information.
  2. Don't store coins on the exchange. Already mentioned above but worth repeating.

Secure Bitcoin Hardware Wallets:

How to Buy Bitcoin with PayPal on LocalBitcoins

We don't recommend buying bitcoins with PayPal on LocalBitcoins. The prices are much higher than VirWoX and the limits usually lower.

With LocalBitcoins, the fees are even worse as the premium is about 20% compared to the global Bitcoin exchange rate. Plus another 1% charged by LocalBitcoins!

Another difference is with LocalBitcoins you are dealing with an individual seller rather than a marketplace. You will also need a verified phone number connected to your LocalBitcoins account.

To start, login to LocalBitcoins and then enter your buy amount and PayPal as the payment method:

buy bitcoin on localbitcoins using paypal

You should now see a list of sellers willing to accept PayPal. Note that when I wrote this guide, the price of Bitcoin was $1,000 so the prices are mostly even more than 20% above the market rate!

buy bitcoin on localbitcoins using paypal

Click on one of the sellers and you'll see a page like this:

buy bitcoin on localbitcoins using paypal

In the example above, you can see the buyer's limits on the left side (25-100 USD). On the right, the buyer has laid a number of rules and requirements for your PayPal account. This buyer, for example, requires that you send a picture of your photo ID, have a verified PayPal account, and also send a selfie holding your ID. VirWoX does not have any of these requirements. Also, most sellers on LocalBitcoins do not sell to residents of New York.

Note, you can also check a seller's feedback and history. Click on the username on the right side and a new tab will show that looks like this:

buy bitcoin on localbitcoins using paypal

This seller has 3,000+ confirmed trades so your transaction would likely go through smoothly. If a seller has no feedback/history, this is a huge red flag!

If you had a verified account then on the left side you would be able to enter how much you want to buy and go through with your trade!

More Information - What Might Happen with Bitcoin and PayPal?

Bitcoin & PayPal

Cryptocurrency fever has risen over the past couple of years. Payment options and money transfer companies have embraced the digital assets. PayPal, the world’s largest online money transfer service has been adamant, but will it incorporate Bitcoin as a payment method in the future?

What has PayPal said about Bitcoin in the past?

Back in April 2018, the founding CEO of PayPal said that Bitcoin was the biggest scam in history. Bill Harris used the words ‘speculative’, ‘gamble’, ‘scam’ and ‘bubble’ to describe the cryptocurrency. He warned people to be careful against what he termed as “pump and dump scheme” with risks that the world had never witnessed.

This pronouncement seemed a bit misplaced, but experts believe that the former CEO was only voicing what many people thought. The fact that law enforcement agencies cannot trace who buys and sells Bitcoins opened major avenues for fraud and criminal activity. PayPal does not want to be involved in facilitating shady payments.

Silk Road and WannaCry are easily the biggest examples of dark web marketplaces. Although it has now been shut down, SilkRoad’s embracing of Bitcoin for large-scale payments paints a negative image of the cryptocurrency.

This announcement seemed to negate an earlier suggestion by a top executive at PayPal that Bitcoin would become a popular payment option. In February, Chief Financial Officer John Rainey was interviewed by Wall Street Journal. In a part of the interview titled “Crypto Factor”, he maintained that there was a likelihood of Bitcoin becoming a popular payment option.

However, Rainey indicated that it would take years before this likelihood ever being a reality. This is a position that PayPal’s co-founder shares. Max Levchin was quoted in December 2017 saying that the digital asset technology was revolutionary. Even so, Levchin did not think that PayPal was ready to embrace the technology yet.

Why PayPal merchants can't do anything with Bitcoin

There is perhaps nothing that ordinary merchants at PayPal can do with Bitcoin. It is important to note that the cryptocurrency has been widely accepted as a means of payment across the world. It has won big points in places where other cryptos haven’t scored a single point.

However, PayPal deems it as a highly volatile means of payment. The sheer fact that it can lose 10% of its price in a single day makes it an undesirable means of payment. On one day, Bitcoin makes a partnership announcement that increases bullish activity. And on the next day, an announcement by Facebook to ban Bitcoin from its network causes a major dent in value.

Secondly, its high volatility in price makes Bitcoin an undesirable store of value for PayPal. Its trading exchanges, also referred to, as storehouses are less trustworthy and far more unreliable than ordinary stockbrokers and banks.

Unpredictability makes PayPal merchants deem Bitcoin an undesirable payment option. Let’s assume a merchant is making a profit of 9% from a sale through Bitcoin. If the cryptocurrency price fell by 10% in 24 hours, as it has done in the past, this leaves the merchant with a spectacular loss on that sale.

The other reason why most PayPal merchants can’t do anything with Bitcoin is the fact that it is not a thing in itself. PayPal deems that it has no intrinsic value of its own, according to the Greater Fool Theory. Cryptocurrencies are only pricy because people hold them believing that other people will buy at higher prices.

What may cause PayPal to add Bitcoin to its platform?

The momentum of Bitcoin on the web keeps increasing with the dawn of each new day. Several years ago, the prospect of PayPal partnering with the highly unstable cryptocurrency world seemed improbable. However, merchants of digital goods across PayPal have been enabled Bitcoin exchanges for a couple of years now.

What foreseeable events or developments could cause PayPal to add Bitcoin in the backbone of its operations? Traders across Overstock and Wikipedia are increasingly relying on Bitcoin payments. This upsurge has raised more than a few eyebrows at PayPal, with the latter believed to be stepping in.

PayPal has already partnered with Coinbase, BitPay and GoCoin for transactions of digital goods. It is only a matter of months before PayPal fully includes Bitcoin. John Donahoe, the Chief Executive Officer at eBay is one of trading leaders who believe such a partnership would hugely benefit his company in the future.

Coinbase is a leading cryptocurrency exchange and wallet platform, the company appointed David Marcus, a former top executive at PayPal to its board of directors in December 2017. To some analysts, this move suggests that the cryptocurrency could approach PayPal in the near future. The events of the next few months will prove whether this suggestion holds any water.