How to Buy Bitcoin and Other Crypto with PayPal - CEX.IO Exchange (2024)

PayPal, one of the most widespread digital wallet services, has recently enabled its U.S. customers to buy and sell crypto through their PayPal account. This is something that many crypto enthusiasts have been looking forward to for ages. This day has finally come.

Only several years ago, customers kept asking “can you buy Bitcoin with PayPal?.” Technically, it was possible, but buying crypto with PayPal was overly complicated and confusing. Luckily, recent changes made purchasing Bitcoin, as well as other tokens, fairly straightforward. The whole process takes just a few seconds.

Before you proceed, double check you’re using the same email address for the PayPal and CEX.IO account. Otherwise, you may not be able to deposit and withdraw funds.

How it works?

To buy Bitcoin with PayPal, follow these steps:

• Log into your CEX.IO account and choose Instant buy. This is undoubtedly the fastest option to buy Bitcoin;
• Select the number of tokens you’d like to purchase;
• In case PayPal is not selected as a payment option, click on the field and choose it;
• Once you’ve selected the method of payment, click Buy Now to finish the transaction;

If you’d like to purchase another crypto, the procedure is identical: simply select the coins you’re interested in from the drop-down menu and go through the aforementioned steps.

Alternatively, you can go to the Trade menu, choose the Market option, then select BTC as the currency you’d like to trade. The CEX.IO exchange will guide you through the process of finishing the trade.

PayPal Crypto Fees and Charges

Buying crypto with PayPal doesn’t come with certain requirements and fees. The minimum amount you can deposit per day ranges from $20 to $1,000. The amount you can withdraw goes from $20 to $10,000.

PayPal transactions have certain service charges that may vary, depending on your place of residence. Withdrawal fees are capped at 2% or £10/€12/$16, depending on your selected currency.

You can learn more about fees and commissions here.

Pros and Cons of Buying Crypto with PayPal

PayPal is one of the most popular e-wallets used by millions of people across the globe. As such, it is accepted as a payment method by numerous exchanges. The fact that many users already have a PayPal account makes buying crypto faster and easier at exchanges that accept this service.

You don't need to be an expert to buy Bitcoin with PayPal. The purchase process is simple and straightforward, only taking several steps. For that reason, it might be one of the most convenient methods for beginners who are just getting into the world of crypto.

Last but not least, PayPal is a secured and trusted platform. You may feel rest assured that all your transactions are safe and secure.

As is the case with all payment methods, PayPal has its drawbacks. One that may not appeal to the majority of crypto enthusiasts is the strict limitation on how many users can buy crypto. Unfortunately, PayPal to Bitcoin transfers are not acceptable everywhere across the world. You can see the list of supported countries here.

Some users are concerned about the fees. This isn’t without the reason, as PayPal has somewhat higher fees compared to other payment methods.

Alternatives to Buying Crypto with PayPal

If you don’t have a PayPal account, or you simply don’t find this service very convenient, you can buy BTC and other cryptocurrencies using different methods.

One option is to buy Bitcoin with your bank account. You can choose from international transfer (SWIFT) or domestic transfer (SEPA, ACH, Faster Payments). Once you decide how much crypto you want to purchase, CEX.IO will guide you through the entire process.

Linking your bank with your CEX.IO account is handy for several reasons. Not only can you buy tokens, but you also have an opportunity to quickly withdraw funds once you sell Bitcoin or exchange Bitcoin.

Another alternative is to buy Bitcoin with a credit or debit card. This is, possibly, the fastest and easiest way of purchasing crypto at CEX.IO. Go to Instant buy, choose the number of BTC you’d like to buy, and proceed to pay with your card. Don’t forget to add your card when you create your CEX.IO account. Otherwise, you won’t be able to buy crypto with a credit or debit card.

Last but not least, you have an option to buy Bitcoin with cash deposit. Look for the nearest Bitcoin ATM in your hometown. If there is no such thing, you can try to buy BTC from a person. If you can’t find a cash dealer who would do this for you, you can ask the Bitcoin community for help. Alternatively, if your bank account is crypto-friendly, you can buy BTC using a bank transfer. Just make sure that you have enough funds beforehand.

Where Do I Keep the BTC I Bought?

Understanding crypto wallet is vital for all Bitcoin buyers and investors. We classify wallets into several categories, online and hardware wallets being two of them.

Numerous crypto holders prefer to store their coins on several separate devices in order to protect them from hacks and theft. However, such a manner of storing may hinder you from buying or selling your crypto when the conditions are most favorable.

If you choose a hot wallet to store your BTC, make sure that it’s provided by a reliable crypto exchange. CEX.IO safeguards your account with several security measures, including a cold storage for customers who prefer this way of storing. With the CEX.IO crypto wallet, your tokens are not only maximally secured, but you can also access them whenever you want.

FAQ

Wrapping it All Up

It is true that crypto may be highly volatile. However, that volatility may bring high earning opportunities. Before you decide to invest in or buy crypto, research the crypto market and conditions, price charts and the project you’re interested in.

CEX.IO may not give you comprehensive instructions on how to invest in BTC and earn high profit. Nevertheless, it may help you in performing the best transactions under specific market conditions.Check out the CEX.IO crypto exchange.