US residents can purchase Bitcoin (BTC) directly through the PayPal app, but this service is currently not available in Canada. The good news is that Canadians can still use PayPal to buy Bitcoin — instead of buying through the PayPal app, you’ll need to use PayPal as a payment method to buy Bitcoin on a cryptocurrency exchange. Keep reading to find out how.
Where to buy Bitcoin with PayPal in Canada
You can buy Bitcoin with PayPal in Canada on Paybis or Coinbase. Founded in 2012, Both platforms are registered with FINTRAC and made our list of the best crypto exchanges in Canada.
Use code Finder25 to get a 25% discount on all commission for 1 transaction. T&Cs apply.
Paybis is a P2P crypto exchange where you can buy over 85 different crypto assets and sell around 10 popular cryptos, including BTC, ETH, USDC, USDT, BNB, XRP, ADA, DOGE and 80+ more. It conveniently supports many fiat currencies and six deposit methods. This platform is great for those who prefer to manage their own crypto as you'll need a non-custodial wallet.
Why it's one of the best
Accepts PayPal as a payment method. Paybis is one of the few crypto exchanges in Canada that accepts PayPal as a payment method when purchasing crypto, including Bitcoin.
Pros
Direct exchanges with buyers and sellers in around 180 countries
Allows self-custody for digital assets
Supports many payment methods
Easy registration process
Cons
User must buy and learn how to use private wallets
Unclear fee structure and high fees for fiat transactions
Can only sell around 10 cryptos
Deposit methods
Bank transfer, Credit card, Debit card, Neteller, Skrill, Apple Pay
Deposit fees
Bank transfer: 0.99% Debit / credit card: 2.49% Neteller: 2.95% Skrill: 4.95% Processing fee (additional to other fees): 4.5% - 6.99%
Withdrawal fees
Bank transfer: 0.99% Debit / credit card: 2.49% Neteller: 2.95% Skrill: 4.95% Processing fee (additional to other fees): 4.5% - 6.99%
Trading fees
$2 USD minimum per transaction
How to buy Bitcoin with PayPal on Paybis
It’s easy to buy BTC and other cryptos with PayPal on Paybis. Here’s what you need to do:
While you’re logged in to your account, select the coin you want to buy, like Bitcoin.
Select PayPal as your payment method.
Enter the amount you wish to buy.
Provide your Bitcoin wallet address.
Log into your PayPal account to confirm the payment.
Once the transaction is complete, the Bitcoin will be sent to your wallet.
Please note that Paybis transaction fees for buying Bitcoin with PayPal will vary based on the transaction. Also, the transaction limit for the amount of Bitcoin you can buy with PayPal per transaction will be displayed when you select PayPal as your payment method and is set by Paybis according to each user’s financial capacity.
Why don’t more exchanges offer PayPal?
PayPal supports chargebacks, which is a problem when purchasing cryptocurrencies, because Bitcoin and other crypto transactions are irreversible.
This means 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.
Is there any risk buying Bitcoin with PayPal?
There are always risks involved with buying and selling Bitcoin or any other cryptocurrency, but none specific to using PayPal as a deposit method.
Cryptocurrencies are volatile assets and trading them comes with a high level of risk. Once you’ve purchased your Bitcoin, you may also want to consider moving it off the exchange you bought it on and into a non-custodial wallet to reduce the risk of fraud and hacks.
Pros and cons of buying crypto with PayPal
Pros
If you already have a PayPal account, it’s quick and easy to buy crypto
Safe and secure payment method
Buy crypto directly with Canadian dollars (CAD)
Cons
PayPal is only supported by a small number of exchanges
Depending on the exchange you use, you may not be able to withdraw your funds back to your PayPal account
Foreign exchange fees may apply on some platforms
How to buy Bitcoin with PayPal in the US
If you live in the US and have a US PayPal account, you can use it to buy crypto directly.
After logging into your PayPal account online or via mobile app:
Go to PayPal’s Finances section. At the bottom of the app’s screen, select the Finances icon, then select the Crypto tab at the top of the screen. Tap Buy.
Select Bitcoin and choose your amount. PayPal lists all tradable crypto assets, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and PayPal USD (PYUSD), the platform’s stablecoin. Select Bitcoin and the quantity you want to purchase, then select Buy. First-time purchasers must read PayPal’s terms & conditions and confirm their account.
Enter payment method. You can typically buy crypto through PayPal using a bank account, debit card or your PayPal balance. Review your purchase details and select Buy Now. After the transaction has processed, your account will show your total balance.
PayPal US supported cryptocurrencies
Right now, PayPal US only supports buying and selling 5 cryptocurrencies, although more may be added in the future.
Bitcoin was released in 2009 and it is known as the world’s first cryptocurrency utilizing blockchain technology.
Bitcoin Cash was released in 2017 as a hard-fork (copy) of Bitcoin.
Ethereum was released in 2015 and has since brought thousands of software applications to the blockchain through the use of smart contracts.
Litecoin was released in 2011 and is thought of as the silver to Bitcoin’s gold.
PayPal USD was released in 2023 and is a stablecoin fully backed by US dollar deposits, short-term US Treasuries and cash equivalents.
Bottom line
You can’t buy Bitcoin (or other cryptocurrencies) directly from your PayPal account in Canada, but you can use PayPal as a payment method to buy Bitcoin on exchanges such as Paybis or Coinbase. Compare cryptocurrency exchanges and their supported payment methods before deciding where to trade, and check out our detailed Bitcoin guide to learn more about the world’s largest crypto.
Frequently asked questions
No. If you live in Canada, you can't buy or sell crypto (like Bitcoin) directly using your PayPal account — this service is only available in the US. However, you can use PayPal to buy crypto on an exchange that accepts PayPal as a payment method, such as Paybis.
Paybis and Coinbase accept PayPal as a payment method in Canada. However, PayPal is not a widely accepted form of payment on most crypto exchanges, with many requiring you to pay using credit card, debit card, bank transfer or Interac e-Transfer.
No, Bitcoin cannot be stored in your PayPal wallet in Canada. You will instead need to set up a cryptocurrency wallet to hold your Bitcoin.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
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