How to Buy ETH with PayPal in 2023
Ethereum (ETH) is one of the most popular cryptocurrencies in the world, with a market capitalization of over $500 billion. It is also one of the most versatile and innovative platforms, supporting smart contracts, decentralized applications, and various other use cases. If you want to buy ETH with PayPal, you might be wondering how to do it safely and easily. In this article, we will show you the best ways to buy ETH with PayPal in 2023.
Why Buy ETH with PayPal?
PayPal is one of the most widely used online payment services in the world, with over 400 million active users. It offers convenience, security, and speed when making online transactions. PayPal also supports buying and selling cryptocurrencies directly from its platform, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, there are some limitations and fees associated with using PayPal for crypto transactions. For example, you cannot transfer your crypto to an external wallet or exchange, you can only sell it back to PayPal. You also have to pay a transaction fee of 1.5% for purchases over $1,000 and a spread fee of up to 2.5% for conversions.
Therefore, some people might prefer to buy ETH with PayPal using other methods that allow them to have more control and flexibility over their crypto assets. These methods include using peer-to-peer platforms, crypto exchanges, or third-party services that accept PayPal as a payment option.
How to Buy ETH with PayPal Using Peer-to-Peer Platforms
Peer-to-peer (P2P) platforms are online marketplaces where buyers and sellers can trade directly with each other without intermediaries. They offer a variety of payment methods, including PayPal, bank transfers, credit cards, and more. Some of the most popular P2P platforms for buying ETH with PayPal are LocalCryptos, Paxful, and LocalBitcoins.
To buy ETH with PayPal using P2P platforms, you need to follow these steps:
- Create an account on the P2P platform of your choice and verify your identity if required.
- Search for offers from sellers who accept PayPal as a payment method and have a good reputation and feedback score.
- Select an offer that matches your criteria and start a trade with the seller.
- Send your payment to the seller via PayPal and confirm it on the platform.
- Wait for the seller to release the ETH to your platform wallet or your external wallet address.
- Leave a feedback for the seller and complete the trade.
Buying ETH with PayPal using P2P platforms has some advantages and disadvantages. The advantages are that you can find competitive prices, negotiate with sellers, and choose from a variety of offers. The disadvantages are that you have to trust the seller to deliver the ETH after receiving your payment, you have to deal with potential scams or disputes, and you have to pay higher fees than using crypto exchanges.
How to Buy ETH with PayPal Using Crypto Exchanges
Crypto exchanges are platforms where you can buy and sell cryptocurrencies using different currencies and payment methods. They usually offer lower fees, higher liquidity, and more security than P2P platforms. However, not all crypto exchanges accept PayPal as a payment method. Some of the crypto exchanges that allow you to buy ETH with PayPal are eToro, Coinbase, Bitpanda, and CEX.IO.
To buy ETH with PayPal using crypto exchanges, you need to follow these steps:
- Create an account on the crypto exchange of your choice and verify your identity if required.
- Link your PayPal account to your crypto exchange account and confirm it.
- Select ETH as the cryptocurrency you want to buy and enter the amount you want to spend.
- Choose PayPal as the payment method and confirm your order.
- Wait for the transaction to be processed and receive your ETH in your exchange wallet or your external wallet address.
Buying ETH with PayPal using crypto exchanges has some advantages and disadvantages. The advantages are that you can enjoy lower fees, faster transactions, and more security than using P2