PayPal isn’t the cheapest way to buy and sell cryptocurrency. If you’re going to be trading large amounts, compare other cryptocurrency exchanges and platforms to potentially save on fees.
Here’s how to buy crypto with PayPal if you have a US PayPal account. After logging into your PayPal account online or via mobile app:
Related: Step-by-step guide to trading crypto
You’ll pay a transaction fee every time you buy or sell cryptocurrency using your US PayPal account. The fee is lower if you send over $1,000 USD than if you send between $200 and $1000, so consider grouping individual transactions into a single, larger trade.
| Buy or Sell amount | Fee |
|---|---|
| $1 – $4.99 USD | $0.49 USD |
| $5 – $24.99 USD | $0.99 USD |
| $25.00 – $74.99 USD | $1.99 USD |
| $75.00 – $200.00 USD | $2.49 USD |
| $200.01 – $1,000.00 USD | 1.80% |
| $1,000.01 | 1.50% |
Fees are accurate as of June 21, 2024.
Right now, PayPal US only supports buying and selling 5 cryptocurrencies, although more may be added in the future.
To sell cryptocurrency using either the PayPal’s mobile or web app:
PayPal supports chargebacks, which is a problem when purchasing cryptocurrencies, because Bitcoin and other crypto transactions are irreversible.
Someone could theoretically buy Bitcoin with PayPal, complain that they never received the BTC they purchased and ask for a chargeback. In this way, scammers can keep their money and essentially get Bitcoin for free.
Because of the heightened risk of fraud, many crypto trading platforms don’t accept PayPal deposits.
According to results from the 2023 Finder: Consumer Sentiment Survey Q1 (CSTQ1), approximately 1 in 5 Canadians either invested or traded in cryptocurrency.
However, investor confidence seemed to ebb and flow. On average, just over 1 in 5 investors (21%) considered the first quarter in 2023 (between January and March) to be a “good time to invest in cryptocurrency,” according to results from CSTQ1. Crypto trader confidence dropped slightly between April and June, with an average of 18% of investors who thought it was a “good time to invest in cryptocurrency,” according to Finder: Consumer Sentiment Survey Q2 (CSTQ2).
In general, younger investors and men were more likely to trade in cryptocurrency. According to CSTQ1 results, 26% of Gen Z investors trade crypto, compared to 21% millennial investors, 19% of Gen X investors and 6% of Baby Boomers. On average, 23% of men hold crypto, compared to 15% of women.
You can’t buy Bitcoin (or other cryptocurrencies) with PayPal in Canada, but you can with a US PayPal account. However, percentage fees for transactions at or above $200 can get expensive, and not all retailers accept payment through PayPal.
If you live in Canada or want to keep your trading fees low, you may want to look elsewhere. Compare alternative platforms above, or check out our detailed Bitcoin guide to learn more.
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