Ethereum, blockchain, and cryptocurrencies, in general, are complex concepts and can be difficult to grasp especially for beginners. PayPal, the global financial payment processor streamlines online payments; as a result, enabling PayPal in the world of blockchain and other cryptocurrencies can facilitate any misunderstandings. This guide will overview of how to buy Ethereum with PayPal.
The process of getting started is straight forward and doesn’t require any complex knowledge of technology, blockchain, or cryptocurrency. This guide does assume that you have a verified PayPal already that is ready for use as well as a computer. If you don’t currently have a verified PayPal, you can create one fairly quickly using their website.
Compare Platforms to Buy Ethereum with PayPal
Best Platforms to Buy Ethereum with PayPal
LocalEthereum is an entirely peer-to-peer (P2P) platform where you can purchase Ethereum from another source on the internet in a verified and escrow-protected manner.
On the platform, you can select which types of payment you utilize to purchase Ethereum. For this example, we can then simply select PayPal from the drop-down list of options that are presented.
LocalEthereum’s platform works on an escrow-ensured environment; what this means is that prior to anything, a particular order or purchase is solidified and both parties agree. As a result, an escrow account is established and the buyer sends the payment to this escrow and the seller sends Ethereum to the escrow. Once the payments are both validated, the payments are released to the subsequent parties, ensuring a smooth transaction.
To create an account with LocalEthereum, head to their homepage and on the top-right of the homepage, select the ‘Log-In’ button which will then load a page where you’ll be asked to ‘Sign Up’. Choose ‘Normal Account’ from the list of options that are given to you. Then, simply enter the information required, and you’ll be set to move forward.
The next step is to filter the options available on the site for buying Ethereum using PayPal. To do this, head to the homepage of the platform and click ‘I want to [Buy] Ethereum’. Then, click ‘Payment Method’ and select ‘PayPal’ from the drop-down of options that are available.
Specify your area that you’re purchasing from on the platform as well. Look through the options that are available to you. Click on the ‘Buy’ button for whichever option you select, or initiate a conversation via messaging first with the seller. Deduct which option you’re going to go with.
As a result, you’ll then be given a page that will summarize all of the information and details of the proposed purchase you’re looking to make. Then, a new email address or recipient will be given to you by the seller of Ethereum in the agreement that you both entered. The Ethereum will be held until you complete the transaction. Once you send PayPal to the address given to you, and you verify you’ve done so, the seller will then release the Ethereum, and you’ll have Ethereum in your account.
Coinbase is one of the most advanced exchanges and platforms for cryptocurrency because of its high regard and emphasis on regulation/registration. The platform enables the purchase and sale of a variety of vetted cryptocurrencies including Bitcoin and Ethereum. At this time, you can’t directly buy Ethereum using PayPal, but you can still use the payment processor on Coinbase.
Consider the following before buying Ethereum on Coinbase:
- PayPal is only allowed for withdrawals on the platform, so you can’t directly use PayPal to buy Ethereum.
- You can withdraw your SOLD Ethereum to your PayPal, by first navigating to your ‘Account Preferences’ tab or ‘Account’ page.
Assuming you’ve successfully added PayPal as a valid payment method on Coinbase, the next step here is to then convert any cryptocurrency you own into USD or fiat inclusively on the exchange. This can be done by going to the ‘Buy/Sell’ section of the exchange and clicking ‘Sell’ and then converting whichever assets you have on the exchange back to its fiat value.
Coinbase enables you to sell your cryptocurrency to fiat and then withdraw it to PayPal. Once you’ve sold the cryptocurrency, you can then navigate to the ‘Withdraw’ section and then selecting PayPal from the drop-down menu.
BitPanda has continuously grown as one of the more reputable and used exchanges in the world due to the fact that it has continuously maintained transparency and regulatory abidance.
VirWox is an online payment provider that offers the purchase and sale of a variety of digital currencies. VirWox enables you to buy and even trade certain cryptocurrencies such as Bitcoin.
The way you can Buy cryptocurrency with VirWox on PayPal was originally simple. All you needed to do was buy the SLL with USD via PayPal, and then buy the BTC with SLL and use the BTC to exchange it for Ethereum. However, the process has since been suspended.
As shown in the image above, PayPal has been disabled. It’s unclear whether or not PayPal will be re-enabled on the platform, and it seems as if only time will tell.
Wirex is one of the more reputable and well known exchanges in the atmosphere of blockchain and cryptocurrencies due to its abilities inclusive on the exchange and various confirmed and supported payment methods.
Wirex enables various services, including buying and selling of cryptocurrencies, providing physical cards (Debit/Credit) for usage, and so on. You can also buy Ethereum on Wirex.
The first step for buying Ethereum on Wirex is to create an account. Through this process, you’ll simply be asked to provide preliminary information and a method of authorization.
Then, you’ll need to fund your account. This can be done easily by going to ‘Deposit’ and selecting PayPal from the selection of options. Input the number of funds you want to deposit, and then wait for the confirmation and processing to complete. After you’ve done this, go to ‘Buy Cryptocurrencies’ and find Ethereum; place the amount of your purchase and you should be set to purchase Ethereum on the platform.
Paxful is a P2P service, similar to LocalEthereum, that enables you to buy cryptocurrency from another user. However, at the moment, Paxful does not enable direct PayPal purchases for Ethereum. As a result, you’ll first have to buy Bitcoin on the exchange using PayPal. To start, register an account.
Keep in mind, you’re not buying Bitcoin from the exchange in this case, you’re buying it from another entity (Hence the ‘Peer to Peer’ name).
Input the amount of Bitcoin you want to buy that you’ll then use to exchange for Ethereum. Find a seller that you’d like to contact; to see the active real rate of your purchase, see the box in red at the top-right of the exchange. This is the USD value of Bitcoin. The rate per Bitcoin you pay in PayPal will be higher as seen in the lower red box.
Click on an option you want to learn more about and input the amount in fiat (In this case, GBP) to purchase. The converter will take the amount of the seller’s rate to the amount of BTC you’ll receieve.
Depending on the seller there will be different terms or conditions. See the bottom of the screen for the varied conditions. In this case, no ID is needed, so we can move forward immediately.
After the Bitcoin has been purchased, head to ‘Sell Bitcoin’, and specify you’re accepting Ethereum, and create a sell page for your instance. This will be used to sell your Bitcoin and create and provide an Ethereum address to whoever is purchasing your Bitcoin. Then, after the escrow has been verified on both sides, you’ll have bought Ethereum by exchanging your purchased Bitcoin for it.
If you’re looking to buy ethereum, we recommend you create an Ethereum wallet. If you intend to have a look at the asset’s price before you decide whether or not you want to purchase it, you can visit our Ethereum price page.
Buy Ethereum with PayPal in Your Country
With the aforementioned forms of buying Ethereum with PayPal in mind, let’s review each countries’ respective best method for buying Ethereum using PayPal.
Overall, the best method to Buy Ethereum with PayPal in the UK is via Plus500. This is arguably not only because Plus500 is regulated by the FCA, but it also maintains regulation with the CySEC (Cyprus Securities Exchange Commission). This gives you safety with your purchases.
What you need to do to buy Ethereum with Plus500 is follow the steps above. Once you’ve bought you’ve made your initial deposit on Plus500, you just need to Click on the Ethereum market in the overview screen in the platform, and click on the buy button.
The most effective and best method to Buy Ethereum with PayPal in the US and Canada is also via Plus500.
Although Plus500 is currently not regulated or overseen by the SEC (The United State’s financial regulatory authority), the platform is still extremely secure and maintains safety for US residents that other exchanges do not.
Tips for Buying ETH with PayPal
Utilize as much of the verification that is available prior to any amount of purchases. The reasoning for doing this sooner rather than later on in the account process, is because you’ll avoid longer wait and confirmation times if you do it all at first moment’s notice.
Additionally, adding as many layers and methods of authorization and security will enable you to not only maintain a safer account, but also, a more integrated and accessible form of buying different assets on whichever exchange you choose to integrate PayPal with.
Always check for phishing links. PayPal phishing links are very common, and combining the concept of phishing with cryptocurrency just makes things even more hectic. Many times, phishing is utilized to trick users into submitting their login info or depositing cryptocurrency. As a result, anytime you’re logging in or going to access sensitive information, always check your browser’s security indicator (On Chrome this can be found by clicking the lock symbol in the URL bar). This will ensure that you not only know exactly who the site provider is, but you also know any additional specs about the site you’re on. Also, if you’re using a third party exchange that isn’t well known, make sure you do your research to make sure its reliable.
✅ Do Your Research
Do your due diligence prior to anything. If there’s a site that offers Ethereum purchasing with PayPal but it’s unreliable and there are no reviews or acclamations about it online, it’s best to avoid it. Be wary of various scams in the PayPal and cryptocurrency community.
Ethereum vs PayPal
Analyzing both Ethereum and PayPal and extracting their core differences while comparing their similarities as well can help monumentally when utilizing both Ethereum or PayPal. Let’s review not only what makes them similar to one another, but also their differences on what each can accomplish.
- Both Ethereum and PayPal are payment methods
- They are both relatively P2P methods of paying other users
- Ethereum and PayPal both enable fast, non-costly methods of payments
- Ethereum and PayPal streamline the online payment ecosystem
- Both Ether and PayPal can be used for international transactions
- Ethereum is itself a currency and platform whereas PayPal is only a platform that uses already created currencies
- Ethereum is decentralized while PayPal relies on central systems like banks and institutions
- PayPal uses accountants and auditors to verify transactions which takes a lot of time while Ethereum verifies transactions instantly on the public ledger
- A payment with Ethereum cannot be reversed, while it can be on PayPal
- Ethereum does not require identification to use, PayPal requires extensive prior verification.
Is Ethereum better than PayPal or vice-versa?
Ethereum is not strictly ‘better’ than PayPal, and PayPal is not directly more efficient than Ethereum; they both have their respective pros and cons relative to one another, and they are respectively better for certain things in comparison to the other. For example, PayPal is integrated in a plethora of online merchants and services which at this time makes it an easier option for online payments than Ethereum. However, Ethereum can be sent to anyone anywhere in the world and the transaction itself can be confirmed and settled within just a few seconds. PayPal requires additional fees and longer time frames.
PayPal is a payment processor and platform, but it is not a currency itself. Ethereum is both a platform and a currency (Ether). PayPal can be developed with and integrated for various uses but is not infrastructure. Ethereum is an underlying infrastructure for applications and those wanting to build decentralized applications. Ethereum is technically faster than PayPal as well. As far as being multi-faceted, Ethereum is in fact more useful because it can be used for a platform of other applications and can also be used as a currency. Ethereum is less costly, faster, and globally enabled than PayPal is in current standards.
Yes, buying Ethereum with PayPal is safe, however, each instance of buying Ethereum using PayPal requires your own level of due diligence. On platforms that are regulated and registered (Such as Plus500), buying Ethereum with PayPal is as safe as can be, however, each platform is different.
You can’t purchase Ethereum directly on PayPal’s platform at this time. However, depositing and funding your PayPal account can then be used to link to an external platform that allows for this, like Plus500.
Arguably, PayPal is the best site to buy Ethereum with PayPal on it – this is because Plus500 is regulated and registered, and also because it maintains verified and validated assets. PayPal integration and usage on the platform is very intuitive and can be quick to get started with.
No, unfortunately, you have to find a supported exchange with PayPal integration in order to buy Ethereum using PayPal. Prior to any purchase, make sure PayPal is integrated.
You can’t sell Ethereum on PayPal (The website or platform itself), however you can sell Ethereum to fiat on platforms like Coinbase or Plus500 and then withdraw the funds to your own PayPal.
At this time, you cannot directly convert your USD for Ethereum on PayPal itself, but you can deposit USD to Plus500 and buy Ethereum through there.
You can’t buy Ethereum directly on PayPal using GBP, however, you can deposit GBP to Plus500 and then use the GBP to buy Ethereum.
- 0.1 Compare Platforms to Buy Ethereum with PayPal
- 0.2 Best Platforms to Buy Ethereum with PayPal
- 0.3 Buy Ethereum with PayPal in Your Country
- 1 Tips for Buying ETH with PayPal