With Bitcoin reaching all-time highs just over a month ago, the cryptocurrency has gained unprecedented exposure in social media and financial reports. More and more investors are looking to get involved with cryptocurrency trading – and buying Bitcoin with PayPal is one of the most popular methods of doing so.
In this guide, we’ll show you How to Buy Bitcoin with PayPal in 2021, showing you the best trading platforms to utilise and providing you with all the information you need to trade safely.
How to Buy Bitcoin with PayPal – Step by Step Guide 2021
If you’re looking to buy Bitcoin with PayPal right now, then look no further. By following the four steps below, you’ll be able to buy Bitcoin with PayPal in under ten minutes – all without paying a penny in commissions.
1. Open an account with eToro – Head to the eToro homepage and click ‘Join Now’. Provide your email address and choose a username and password.
2. Upload ID – Verify your account by uploading proof of ID (a copy of your driver’s license or passport) and proof of address (a copy of a bank statement or utility bill).
3. Deposit via PayPal – Choose PayPal as your deposit method – minimum initial deposit of $200 (around £142).
4. Buy Bitcoin – Type ‘BTC’ into the search bar at the top of the screen and click ‘Trade’ next to the first option. Enter the amount you’d like to invest, double-check everything is correct, and click ‘Open Trade’.
How to Buy Bitcoin with PayPal Today – eToro Tutorial
When you decide to buy Bitcoin, most brokers and trading platforms will offer various ways to fund your account. However, one of the most popular and safe methods is through PayPal, due to their stellar reputation worldwide as a reliable digital payments platform.
In this section, we’ll show you how to buy Bitcoin with PayPal with FCA-regulated broker eToro – all without paying a penny in fees or commissions.
Step 1: Open an eToro Account
The first thing you need to do is open an eToro account. We recommend using eToro in this guide as they offer commission-free cryptocurrency trading and are regulated by some of the world’s most trusted regulatory bodies. To open your account, head to eToro’s homepage and click ‘Join Now’ in the top right. On the page that follows, provide your email address and choose a username and password.
Step 2: Verify your ID and Address
Due to eToro’s strict security policies, new users must verify themselves before being able to invest. Luckily, this process is very straightforward and can be completed in minutes. Simply upload proof of ID (a copy of your passport or driver’s license) and proof of address (a copy of a bank statement or utility bill). eToro will then verify these documents; once verified, you can move on to step 3.
Step 3: Fund your eToro Account
eToro offers a wide variety of deposit methods, including credit/debit card, bank transfer, and a selection of e-wallets. Included in this selection is PayPal, so choose that option in the drop-down menu of the deposit screen. Notably, eToro does not charge any fees when you make a deposit.
Step 4: Search for Bitcoin
Once you have funded your account, click into the search bar at the top of the screen and type in ‘Bitcoin’ or ‘BTC’. Click on the first option in the drop-down menu, and then click the ‘Trade’ button on the next screen.
Step 5: Buy Bitcoin with PayPal
In the order box that follows, enter the amount you’d like to invest – eToro only requires a minimum investment of $50, equating to around £35. After this, double-check everything is correct, and click ‘Open Trade’.
And that’s it! You’ve just bought Bitcoin using PayPal – all without paying any fees or commissions!
Where to Buy Bitcoin with PayPal
When you decide to purchase Bitcoin with PayPal, it’s crucial to choose a licensed platform with a track record of allowing users to trade safely. There is a wide variety of options on the market, ranging from brokers to cryptocurrency exchanges, so it can seem challenging to decide which is best for you.
Not to worry – in this section, we discuss three of the best trading platforms when it comes to buying Bitcoin with PayPal in 2021.
Our recommended broker to purchase Bitcoin with PayPal is eToro. With over 20 million users worldwide, eToro is widely regarded as one of the safest and easiest trading platforms to invest with. Importantly, they are regulated in the UK by the FCA and in the USA by FinCEN – ensuring your capital and personal details are afforded the highest levels of protection.
One of the best things about eToro is that they allow you to purchase Bitcoin with PayPal without paying any commissions. This contrasts with many other brokers and exchanges who tend to add on a commission of 0.1% to 3% of your position size. eToro also offers this 0% commission structure on all other cryptos they offer, including when you buy Ethereum, Ripple, and more.
Aside from their attractive fee structure, eToro also offers some handy features. Notably, they provide a practical and safe digital wallet that will store your Bitcoin holdings. This wallet is available on the App Store and Google Play and allows you to manage your holdings on the go. eToro also offers an innovative ‘CopyPortfolio’ feature, which will enable you to invest in funds managed by eToro’s professional investors – all without paying any management fees.
Finally, eToro allows you to fund your account via PayPal without having to pay any hidden fees or charges. The minimum deposit for new users is $200; however, this falls to $50 for subsequent deposits. If you’d like, you can also fund your account with FIAT currency via credit card, debit card, bank transfer, and various e-wallets.
- 0% commission on crypto trading
- Supports debit/credit cards and Paypal
- No deposit fees
- Over 2,400 shares and 250 ETFs
- CFD markets also offered
- Social network with copy trading
- Regulated by the FCA, ASIC, and CySEC
- Approved by the SEC and FINRA
- Small withdrawal and inactivity fees