How to Buy Bitcoin with PayPal in the UK
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You would like to buy Bitcoin with Paypal? How to do this and with which providers it is possible to buy Bitcoin with Paypal is explained below.
Because even if it might seem at first that the Paypal payment method is unsuitable for buying BTC, a closer look reveals attractive brokers and platforms that allow exactly this.
Buy Bitcoin with Paypal: What should you look out for?
Because Bitcoin is not available with Paypal on many CFD brokers and crypto exchanges, you have to pay closer attention to how you can buy Bitcoin with Paypal:
Which broker or exchange is the best to buy Bitcoin with Paypal? We advise our test winner broker eToro. eToro is one of the few brokers where buying Bitcoin with Paypal is possible. Moreover, eToro is fully regulated and licensed and offers the lowest fees when buying Bitcoin with Paypal.
Do you want to hold Bitcoin for the long term or trade it for the short term? That depends on your strategy. Holding for the long term will generally generate solid returns, while active trading offers higher potential returns, but also higher risk.
Do I need a wallet for Bitcoin? Not at eToro, as the official eToro wallet is already integrated.
Is it worth investing in Bitcoin? Bitcoin is one of the most interesting investments in 2021. We believe that the price can increase drastically in the coming years.
Is it possible to buy Bitcoins with PayPal? Yes, in fact it is relatively easy to do so. On this page we introduce the popular online broker eToro. Just read on to learn how to buy Bitcoins with PayPal or click here to go directly to eToro.
Where to buy Bitcoin with Paypal? Our broker and exchange comparison:
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Trade real cryptos and crypto CFDs |
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Broker fully regulated |
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User-friendly platform |
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Many tradable assets
Excellent trading platform European license |
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Huge selection of coins
Fair fees Solid support |
Fees when buying Bitcoin with Paypal?
To calculate the fees when buying Bitcoin with Paypal, let's assume the following example:
We want to buy €1,000 worth of Bitcoin with Paypal.
We would like to hold Bitcoin for a month and then withdraw it back to our account in Euros
For simplicity's sake, we assume that the exchange rate does not change during the 30 days.
Mit diesen Annahmen ergeben sich folgende Gebühren:
|
Provider |
etoro |
Plus500 |
|---|---|---|
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Deposit |
free of charge |
free of charge |
|
Purchase fees |
5% |
3,08% |
|
Holding fees |
free of charge |
0,05% |
|
Sales charges |
5% |
3,08% |
|
Payment |
5 USD |
1,9% |
|
Total fees |
101,69€ |
92,32€ |
Buy Bitcoin with tips from the Paypal Forum
XCoins
Other platforms: XCoins basically also allows the purchase of Bitcoin with the help of PayPal. This is a B2B lending platform. You borrow the Bitcoin, but of course you have to pay it back. This can also be done with real money.
The concept of lending is quite complex, especially in the field of crypto trading, and therefore not suitable for beginners. In addition, XCoins was hacked in January 2017, which revealed various security problems with the platform. In the opinion of editorial team, there are significantly better offers than XCoins (e.g. our test winner eToro).
Cryptex24
Those who do not value the language can also use the services of Cryptex24. It is a simple Bitcoin exchange service, as the provider calls itself. Of course, registration is required here as well.
The purchase of Bitcoin with Paypal is claimed by various websites, but PayPal is not represented in the selection of available payment methods, at least for customers. That is why we advise our test winner broker eToro.
Buy Bitcoin with PayPal via Virwox
We had also reported in the past about buying crypto with PayPal via Virwox. In fact, for a long time, the virtual platform was considered the only real place to go to use PayPal (via detours) to buy BTC.
For this, one first acquired the in-house tokens in order to subsequently exchange them for Bitcoin. Admittedly, this path proved to be extremely complex.
Virwox then closed its doors in 2020. This affected the entire platform and thus also the possibility of exchanging cryptos. Buying Bitcoin with PayPal via Virwox was once possible, but is now a relic of the past.
Buy IOTA, Ethereum, Litecoin, Ripple & Other Cryptocurrencies with Paypal
Trade Bitcoin CFDs or buy real Bitcoin Coins with Paypal?
"Real" crypto trading
Pros
Cons
CFD Trading
Pros
Cons
As we have already reported in our detailed article on buying cryptocurrencies, there are both advantages and disadvantages to CFD trading or "real" crypto trading. With CFD trading, you definitely have a fee advantage, are regulated by the state and protected from hackers. In addition, the set-up is unproblematic and you do not need your own wallet.
If you decide to buy real coins, this means that you are in possession of real Bitcoins, but you also have to manage them yourself. Buying real Bitcoins often comes with a steep learning curve. However, one is more vulnerable to hacker attacks and losing the password for the Bitcoin wallet.
Ultimately, it is up to the investor whether they want to trade CFDs or real coins. However, if you have chosen our test winner eToro, you can take advantage of both real trading as well as CFD trading. However, buying Bitcoin CFDs with PayPal is more for experienced investors, as one should first get to grips with the basics of CFDs.
Buy Bitcoins anonymously with PayPal - is that possible?
No. Unfortunately, there is no known cryptocurrency exchange that allows you to buy Bitcoins with PayPal. However, there is a solution to the problem: eToro offers not only Bitcoin CFDs, but also physical Bitcoin for purchase. In order to trade Bitcoins or Bitcoin CFDs, you need to set up an account with a Paypal broker or CFD broker.
This almost always requires verification of your account details. In addition, you also have to provide your details when you open an account with PayPal. Therefore, a completely anonymous purchase of Bitcoin with PayPal is unfortunately not possible.
Bitcoin blackmail
If you can't act completely anonymously, then you should be able to buy your Bitcoin with PayPal but without registering, right? Unfortunately, it is so far written in the stars whether this way will ever become accessible.
Although PayPal itself has opened its doors to Bitcoin cannot yet find a direct purchase option in their PayPal account. In any case, you would have to register at least with PayPal to get the cryptocurrency.
And so, for better or worse, the topic of "buying Bitcoin with PayPal without registering" has to be rejected. Take the registration upon yourself and benefit from increased security, which is of immense importance especially in the cryptocurrency industry.
Buy Bitcoin with Paypal without verification
In modern finance, verification is always associated with a certain amount of effort. At the same time, however, this also ensures increased security for all parties involved. According to official guidelines, providers are even obliged to verify the data of their customers.
So anyone who wants to buy Bitcoin with PayPal but without verification is on thin ice. Only dubious providers from overseas even allow BTC trading without verification. In the vast majority of cases, however, the payment giant PayPal keeps its distance from such offers.
Bitcoin Wallet PayPal - do I need my own wallet?
If you decide to buy Bitcoins with PayPal via eToro, you do not need an additional wallet. This is because eToro already offers its own wallet for cryptocurrencies. Our test winner is not only a broker, but also your software wallet.
This means you don't need any additional hardware, which would otherwise be necessary when buying Bitcoins. Your Bitcoins remain protected and secured thanks to the wallet at eToro.
Buy Bitcoin with PayPal in the app
You may have your sights set on a mobile investment. For this, you logically need a corresponding application. Nowadays there are some applications that run on Android smartphones and tablets as well as on iPhones and iPads.
If you are now looking for the possibility to buy Bitcoin via an app with PayPal, then the options become smaller. Once again, we can refer to our test winner eToro.
Here there are two different apps that can be used for BTC trading on the one hand and as a Bitcoin wallet on the other. Both apps can be downloaded free of charge from the respective stores. You can log in to both apps with just one account.
However, only the trading app allows you to buy Bitcoin with PayPal. You can then comfortably store the coins you have bought in the mobile wallet.
News: Buying cryptocurrencies via Paypal also possible with Libertex!
Keeps a constant eye on the cryptocurrency market. And so it has not escaped our attention that there is now another recommendable provider with EU regulation that also accepts PayPal as a payment method. We are talking about the friendly broker Libertex.
Below you will find instructions on how to buy your Bitcoin at Libertex with PayPal.
Step 1: Registration
We have already explained it in detail on this page: registration and logging in is inevitably required for access to serious Bitcoin trading. At Libertex, too, you first enter your email address, choose a password and then enter further personal information about yourself.
83% of the accounts of private investors lose money when trading CFDs with this provider. Your capital is at risk
Step 2: Verification
The verification of the data is done via an online ID procedure. For this purpose, it is best to have a proof of address and a photo ID ready at the beginning of the registration process.
Without verification, you will not be able to buy Bitcoin with PayPal at Libertex.
Step 3: Deposit
In the course of the deposit, two different transaction forms are given, but we logically decide on PayPal. A click on "Deposit" leads us to the familiar window of the payment provider.
Once you have entered your PayPal data and confirmed the payment, you will find your credit in your account.
Step 4: Buy Bitcoin at Libertex with Paypal
Now we only have to navigate to the trading good "BTC" and can open a position here. It should be emphasised at this point that this does not take place with real cryptocurrencies, but with CFD positions.
In this respect, there are higher chances, but also increased risks, which is why you should probably already have some experience in trading.
Conclusion: Good Bitcoin Buy Paypal Experiences
If you want to buy real Bitcoin tokens with PayPal, you have to look a little closer. Most online platforms for trading and trading cryptocurrencies do not accept the payment expert at all.
In fact, PayPal itself has deliberately withdrawn from further activities in the crypto market, as the company's famous buyer protection cannot take effect.
This is mainly due to the anonymised transaction properties in the networks. However, those who follow the instructions in this guide can still trade Bitcoins via PayPal.
The editors' recommendation is eToro. With CFDs as well as with real cryptocurrencies, you can profit from value developments and look forward to a fully regulated platform.
Broker and exchange in one: eToro
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
In the overview above, you can find the most diverse options for buying Bitcoin with Paypal. For Kryptoszene.de, one CFD broker is the test winner. It is versatile, allows regular trading and easy registration. Moreover, it is a licensed offer in the EU.
The payment service provider Paypal is characterised precisely by the fact that it enables direct transactions.
You do not have to expect long waiting times in this context. However, if you want to initiate a payout, the respective broker may set its own processing time in order to be able to check the request.
Paypal is initially free of charge for the normal user. The registration is free of charge and also the management of the account does not cost any money. Only when receiving money do you have to reckon with fees being deducted. Sometimes, however, brokers charge additional fees.
More detailed information on this can be obtained directly from the company. However, it should also be noted that some platforms charge extra if you choose certain payment methods. This should be clarified in advance.
Those who want to use electronic wallets, so-called e-wallets, will find Skrill and Neteller to be direct competitors to Paypal. However, the use of these services is usually significantly more expensive. Of course, you can also use credit cards, bank transfers or other service providers such as Sofortüberweisung and Giropay.
If you want to use the Paysafecard to buy Bitcoin, you have to take a closer look. This payment method is not very common in crypto trading.
This depends entirely on the respective offer. Some providers allow access to many other cryptocurrencies via Paypal deposits.
Other platforms, on the other hand, which are dedicated to the direct sale of online currencies, sometimes have limited repertoires. However, those who purchase real Bitcoin tokens can subsequently exchange them for other currencies on exchanges.
Paypal has recently been much associated with cryptocurrencies. In this respect, the question of whether Paypal is a cryptocurrency is quite legitimate. However, it should be noted that Paypal is a pure payment provider. Although Bitcoin and other tokens will also be accepted in the future, Paypal only ever sees itself as an interface and never as an independent currency unit.