How to Buy Ethereum with PayPal in Five Minutes

Buying and selling cryptocurrency has never been so easy. There are ample ways in which you can choose to purchase crypto. Many still prefer to use a debit or credit card. However, with increased crypto adoption taking place rapidly across the globe, investors can now use PayPal to buy Ethereum.

Vitalik Buterin, the most influential person in crypto, founded Ethereum and it is today the second largest cryptocurrency after Bitcoin – many regard Ethereum as the new decentralised internet, which will become the settlement layer of Web3, in addition to being the home of DeFi and NFTs. Ethereum is desirable to a plethora of investors. In this guide we review how to buy Ethereum with PayPal, the best crypto exchanges for ETH and the advantages of buying Ethereum using PayPal.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Where to Buy Ethereum with PayPal

Find a more in-depth explanation of where and how to purchase Ethereum using PayPal below:

1. eToro — The Best All-Round Exchange to buy Ethereum with PayPal

The best overall cryptocurrency exchange available on the market is eToro, well suited to beginners and supporting 70+ cryptos alongside Ether.

In addition, eToro offers the easiest way of buying crypto and Ethereum via PayPal. eToro is well respected and is used by millions of users around the world who consider it the best way to buy Ethereum with PayPal.

Buying Ethereum with PayPal is made easy as eToro is arguably the safest and most secure crypto exchange. eToro is fully regulated by the FCA, ASIC, CySEC, FINRA, and FinCEN. Furthermore, this ensures safety and protection for its users. 

Importantly, eToro users have a diverse selection of some of the finest cryptocurrencies on the planet. This is inclusive of Ethereum and many other desirable crypto assets like Bitcoin and Dogecoin, for example.

Moreover, eToro ensures that its users have the best all-around user experience, and this begins by allowing eToro users the choice between trading Ethereum on their desktop computer and also as a mobile version, which can be downloaded on the App Store and Google Play. eToro has an aesthetically pleasing layout and is easy to understand.

Another reason why eToro is so sought-after is that it has low fees. Fees are important in any aspect of finance, and the same applies to crypto. eToro has a 1% fixed rate when trading cryptocurrency, plus the spread of the trade. eToro has no hidden costs and operates transparently. Everything is simple to understand, which makes eToro particularly unique and desirable for beginners. 

eToro has a minimum deposit of $10. This makes it easy to buy Ethereum via PayPal. Additionally, this allows a plethora of different users from various backgrounds to gain exposure to Ethereum. $10 is a very acceptable amount to begin trading an asset that is very expensive in dollar terms.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com — Fast And Secure Crypto Exchange

If you are exploring the possibility of how to buy Ethereum with PayPal, Crypto.com should be one of the options that first come to mind. Crypto.com is one of the market leaders when it comes to safety and security and an array of other excellent features. 

Crypto.com offers its users a diverse variety of cryptocurrencies, from the largest market caps in Bitcoin and Ethereum, to ‘hype’ tokens like Dogecoin and Shiba Inu. Furthermore, Crypto.com is well-known for its staking benefits.

Staking, simply put, is when you lock up your crypto and get rewards for doing so, similar to a fixed deposit with a bank. You earn interest on your crypto. Crypto.com, for example, offers up to 14,5% annual interest on certain cryptocurrencies. 

Furthermore, Crypto.com makes it easy to buy Ethereum using PayPal. Users of Crypto.com can top up their Crypto.com Visa card with PayPal. Moreover, this does come with a 2.1% fee, however; this happens instantly.

Additionally, Crypto.com has a maker/taker fee of 0.4% when you are trading via their exchange. Importantly, Crypto.com accepts fiat money deposits like US dollars, which means that PayPal customers can send US dollars through a bank transfer.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Binance — Excellent Crypto Exchange With a Wide Variety of Crypto Assets

Binance is arguably the most well-known crypto exchange, where you can buy and sell many different crypto assets, from Ethereum to NFTs.

Binance has over 600 cryptocurrencies listed on its platform and gives traders exposure to many different segments of the greater crypto ecosystem, from DeFi coins like Fantom to GameFi tokens such as Axie Infinity. 

Primarily, Binance is used as an exchange. However, you can still fund your account with fiat money. However, the sole way to purchase Ethereum via PayPal is through Binance Peer-to-Peer trading.

Regarding fees, Binance has extremely low fees of 0.1% for every trade made via their exchange. Moreover, if you want to buy Ethereum or crypto immediately, i.e., not via their exchange, you will be charged a marginally higher fee of 0.5%.

Finally, Binance certainly caters to a large basket of individuals, ranging from more casual users to full-time investors. It has something for everyone, especially with its wide range of crypto assets and low fees. With Binance Ethereum is easy to buy with PayPal.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Coinbase — Easy-To-Use Crypto Exchange Enabling Direct Ethereum to PayPal Purchases

With its beautiful design and simple jargon, Coinbase is a great choice for beginners, particularly with its ability to buy ETH with PayPal. If you are wondering how to buy Ethereum online with PayPal, Coinbase allows its users to purchase Ethereum directly via PayPal.

Furthermore, all you have to do is sign up with Coinbase, create an account, and fill out all the relevant information. Then you can link your PayPal account directly with Coinbase. 

If you are in the United States, you can directly buy Ethereum with PayPal. However, if you are outside of the US, you can withdraw your funds using PayPal. Coinbase currently allows its users to cash out using either USD, GBP, or EUR. 

In conclusion, and importantly, Coinbase can have high fees. When using the Coinbase exchange, Coinbase has a maker fee of 0.6% and a taker fee of 0.4%. On top of the 3.99% fee that they charge. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Why Buy Ethereum with PayPal

We have discussed a wide range of benefits when using PayPal to purchase Ethereum in this guide. Which includes PayPal’s safety, security, and accessibility.

We have looked at the advantages of purchasing Ethereum with PayPal below – which also apply to buying any crypto with Paypal in general.

Quick Deposits & Withdrawals 

PayPal is well-regarded in many different areas, and one of those is its speed with deposits and withdrawals. The important thing to note is whether your chosen crypto exchange supports PayPal.

With the exchanges, we looked at earlier, like eToro, for example. This is not an issue, as PayPal is integrated with these exchanges. Linking PayPal to your trading balance is easy, and you can make deposits in just a few minutes. 

Additionally, if you want to transfer Ethereum to PayPal, you have to first close your current trading position. 

Furthermore, once you have liquidated your current position on whatever exchange it is that you are on, like eToro, for example, you can then easily and quickly withdraw your money.

When using an exchange like eToro with PayPal, it can take as fast as 2 business days for your withdrawal to take place. However, if you are wanting to buy Ethereum with PayPal credit card, debit card, or bank transfer, this process can take up to 10 business days. 

High Security

In this how to buy Ethereum with PayPal guide, we first and foremost look at how PayPal values its customers’ safety and security.

When you are thinking about how to buy Ethereum with PayPal, this naturally should be one of the first things that come to mind. Rest assured, you are in safe hands. Paypal closely monitors every transaction 24/7 to ensure you are safeguarded against any malicious activity. This may include identity theft, email phishing, and fraud. All transactions on PayPal are secured by 2-factor authentication. 

Furthermore, PayPal emails you every time you make a transaction. This way, if there is any undetected fraudulent activity on your PayPal account, you will get an email notification and you can, with the help of PayPal, rectify the situation right away.

Usability

Throughout this how to buy Ethereum review, we identified that PayPal has revolutionised how we view payments. They have become essential to so many people and businesses across the globe and offer simple payment solutions to their customers without the need for a debit or credit card. 

Moreover, PayPal is well-known for its simplistic and minimalistic design, as well as its easy-to-understand interface, which makes it user-friendly. PayPal integrates this beautiful aesthetic into its functionality and efficiency as a payment solution. 

Furthermore, making a bank transfer into your PayPal account is the most practical approach to buying Ethereum. Your funds are safely secured and protected in your account, which can happen due to PayPal and its incredible security. 

Mobile App

PayPal has a great mobile app available to its users on the App Store and Google Play. One of the many reasons why PayPal is so desirable to such a vast array of users is its app. Most of PayPal’s users make use of PayPal from their smartphones. The user interface is minimal, clean, and wonderfully created overall. 

PayPal has transformed cross-border payments. If you want to, for example, send money to someone in the United States from the United Kingdom. All you have to do is either get that person’s email address, username, or phone number, and that’s all

. You have the ability, with PayPal, to send money to someone thousands of kilometres away, and in turn, that person can buy Ethereum. Furthermore, PayPal allows its users to track their payments and turn on notifications, which further adds to the experience and puts your mind at ease over any maligned activity. 

Low Fees

Low fees are imperative when considering how to buy Ethereum with PayPal. For example, PayPal charges zero transaction fees, with no lock-in contracts, no hidden fees, and no monthly fee. 

Importantly, depending on the exchange that you choose, all fees are different as per the platform. For instance, if you use an exchange like Coinbase, where you can buy Ethereum directly with PayPal, there is a fee of 3.99%.

Despite this, eToro, for example, allows free deposits, which in turn can see you purchase Ethereum with PayPal on eToro for no cost. This, therefore, makes eToro the best site to buy Ethereum with PayPal. It’s also possible to buy Dogecoin with Paypal on the platform.

Buying Ethereum On PayPal vs Buying Ethereum Using PayPal On Crypto Exchanges 

After all that we have gone through in this guide so far, most likely, there are two viable options that you are exploring. What is the best choice? Buying Ethereum on PayPal or buying Ethereum on a crypto exchange like eToro, for example. 

We will take a close look below at which is the better decision. 

Buying Ethereum on PayPal

PayPal customers can directly buy a small number of cryptocurrencies on PayPal in the US and UK, respectively. You only have a choice of four cryptocurrencies to purchase on PayPal. Fortunately, Ethereum is one of those four, as Ethereum is a highly desirable crypto asset to own. The other cryptos include Bitcoin, Bitcoin Cash, and Litecoin.

Furthermore, one of the advantageous aspects of buying Ethereum on PayPal is that there is a $1 minimum deposit, which is great, as it allows crypto to be accessible to a broad group of people, as you can own some of the most appealing crypto assets for as little as a dollar. 

Despite this, there are significant limitations to purchasing Ethereum and cryptocurrency directly through PayPal. Firstly, PayPal themselves do not have any of the in-demand altcoins at their disposal, severely limiting your exposure to the various sectors of the crypto ecosystem.

Secondly, PayPal does not allow its users to store their tokens in an external Ethereum wallet. This means that you can not move your Ethereum, for instance, off of PayPal. 

This is a significant disadvantage of purchasing Ethereum directly through PayPal. Moreover, this limits your security because you are more susceptible to a potential breach of PayPal security. Furthermore, you cannot, for example, store your Ethereum safely ‘offline’ in a cold storage hardware wallet like Trezor.

Additionally, if you are contemplating how to buy Ethereum with PayPal, conclude that this is your best route. You are setting yourself up for an expensive journey, as the fees from using this method are high.

The fees vary. For instance, you may have fees of 1.5%; however, this is for a trade with a minimum of $1000. Furthermore, all trades between $200 and $1000 will be 1.80%. Additionally, all trades below $200 have a flat rate associated with them of $2.49. This may not seem too high.

 However, fees add up, especially as PayPal does not disclose its spreads. This is not in the spirit of openness, especially in crypto, where honesty is at the forefront of decentralisation and blockchain technology. Importantly, this highlights the necessity for crypto exchanges like eToro, where you can still use PayPal, albeit not hold your Ethereum on PayPal itself. 

Buying Ethereum Using PayPal on Crypto Exchanges

After careful consideration and plenty of research. We have decided that when deciding how to buy Ethereum with PayPal, the best method is to purchase Ethereum using PayPal on a crypto exchange like eToro, for example. 

This method is the better solution, as you get the exposure of having the world’s best crypto exchanges like eToro, and you get all the benefits of their platform, plus the ease and efficiency of using PayPal as a payment gateway. You can easily deposit funds into your chosen cryptocurrency exchange using PayPal. 

Since the best-of-class crypto exchanges like eToro, Crypto.com, Binance, and Coinbase are all centralised changes, this means that they can have KYC, which in turn, enables a platform like PayPal to be interoperable with such exchanges.

You may think that, because you are now on an exchange, depositing funds into your wallet via PayPal is more complicated. However, this cannot be further from the truth. Depositing funds into your account via PayPal is easy and efficient. You just need to link your current PayPal account to the platform you want, like eToro, for instance and deposit the money. 

There are multiple reasons why buying Ethereum is advantageous on an actual crypto exchange, compared to PayPal. One of the many reasons is that you can access all of the great features that these platforms have, like eToro, for example.

eToro stands out above its competition with innovative trading tools that make them attractive to a large market of newer crypto investors, as well as highly proficient crypto traders. 

Some of the tools that eToro has at its disposal are Procharts, which allow investors to analyse and break down Ethereum price history using a variety of tools through technical analysis. 
eToro also has their very successful and well-respected ‘Copy Trading’, which imitates the best investors on eToro, as you can directly copy their portfolios, and eToro takes care of the backend. If they sell a position in Ethereum, for example, this is all automated by eToro. 

Furthermore, eToro has ‘Social Trading’, which makes investing more social. Users on eToro can share their analysis and their thoughts on the current state of the market. These tools make investing less daunting and add a fun feel to trading. 

Importantly, eToro allows its users to store their Ethereum and crypto wherever they want. Unlike PayPal, they give you the option to choose. In conclusion, buying Ethereum using PayPal on crypto exchanges is advised as opposed to buying Ethereum directly on PayPal. 

How To Buy Ethereum with PayPal using eToro – Tutorial 

After considerable thought, it can be concluded that using eToro is the most effective option to purchase Ethereum. eToro’s close association with regulatory bodies makes it dependable and reputable. Along with their extraordinary innovative tools, trading tools like ‘Social Trading’.

Additionally, we have included a thorough step-by-step procedure for purchasing Ethereum using PayPal via eToro below, which is essentially the same process as buying Bitcoin with Paypal on the platform.

Step 1: Open an eToro Account 

Visit the eToro website on your desktop or download the app, which can also be done via the website directly. After doing that, you must ‘Sign Up’. It will say ‘Create an account’, then create a username, enter your email address, and enter a password. 

Step 2: Verify Account 

eToro will get in touch with you to confirm your email. Following that, you must upload your ID for KYC verification. 

Step 3: Make a Deposit 

Go to the homepage, and select ‘Deposit Funds’. After doing this, enter the desired Ethereum purchase amount, which on eToro must be at least $10. Additionally, after choosing the amount, choose PayPal from the screen’s drop-down menu. 

Step 4: Buy Ethereum with PayPal 

In the search box, type ‘ETH’ or ‘Ethereum’, and then click the ‘Trade’ button. The next step is to choose how much you want to spend (in US dollars; a minimum purchase of $10 is required). Once that has been decided, click ‘Open Trade’ to finish.

Conclusion

In this how to buy Ethereum with PayPal review, we have closely evaluated all of the intricacies and nuances of which exchange is the best to buy Ethereum with PayPal and why. There are several areas to consider when taking this into account, like fees, safety, and ease of use. But is it too late to buy Ethereum? 

In conclusion, there are many fantastic crypto exchanges. However, there is one clear winner, and that is eToro. eToro is a licensed broker that is fully regulated and completely safe. eToro offers a great selection of cryptocurrencies, including Ethereum. eToro allows users to buy Ethereum via eToro using PayPal by simply linking their PayPal accounts. Furthermore, eToro has a minimum deposit amount of $10, which allows its users to get started right away. The finest cryptocurrency exchange currently available is eToro, which is also the best place to buy Ethereum using PayPal.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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