How to Buy Cryptocurrencies with PayPal in the UK

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Buy cryptos with eToro
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As one of the most popular online payment methods worldwide, PayPal has long been considered one of the fastest and most secure ways to send and receive money and complete online transactions. Thus, Paypal is an attractive payment option as transactions can be made in no time at all. While we have already reported on how to buy shares with Paypal, you are probably now asking yourself the question: can you also buy cryptocurrencies with Paypal?

Paypal unfortunately still only plays a very minor role on the exchanges, which has to do with the company's guarantee regulations. Some brokers refrain from using Paypal, although it is one of the most convenient payment methods. But even if it should initially seem that the Paypal payment method is unsuitable for buying crypto, a closer look reveals attractive brokers and platforms that allow precisely this.

Cryptocurrenciesd

Buy cryptocurrencies with Paypal: What should you look out for?

If you want to start trading cryptocurrencies and pay with Paypal, you should pay attention to the following points:

    Which broker or exchange is the best to buy cryptocurrencies with Paypal? We advise our test winner broker eToro. eToro is one of the few brokers where it is possible to buy 16 cryptocurrencies with Paypal. Moreover, eToro is fully regulated and licensed and offers the lowest fees when buying cryptocurrencies with Paypal.
    Do you want to hold cryptocurrencies for the long term or trade them for the short term? This depends on your own strategy and the cryptocurrency you want to trade. With long-term holding, you will generally achieve solid returns, whereas with active trading, the chances of returns are higher, but so is the risk.
    Do I need a wallet for cryptocurrencies? Not at eToro, as the official eToro wallet is already integrated.
    Is it worth investing in cryptocurrencies? Cryptocurrencies are gaining in popularity and an investment could well be worthwhile.
    Buy cryptocurrencies: Paypal possible? In this article we answer the most important question and show which brokers allow you to buy cryptos with Paypal.

Where to buy cryptocurrencies with Paypal? Our broker and exchange comparison:

Trade real cryptos and crypto CFDs
Licensed broker with deposit protection
Integrated wallet

Broker fully regulated
Numerous awards
Libertex experience for more than twenty years

User-friendly platform
0% commissions
Deposit from 20€

Many tradable assets
Excellent trading platform
European license

Huge selection of coins
Fair fees
Solid support

How to buy cryptocurrencies? Our five-step guide:

The following step-by-step guide is designed to help you learn how to easily and securely buy cryptocurrencies with Paypal.

Step 1: Choose a provider

The first step is to choose a suitable provider. This decision should be based on your own preferences and trading ideas. If you are not interested in setting up a wallet and possibly do not intend to derive any real benefit from the tokens, you can get everything you need from providers like eToro. In addition, eToro also offers an in-house wallet with which cryptos can be sent, received and exchanged.

And the most important thing? eToro offers the purchase of cryptocurrencies with Paypal. This makes eToro one of the few brokers that also offer Paypal as a payment option. We will explain later which brokers also offer Paypal.

In any case, a comparison of the different providers can help you find the best offer. In fact, the choice of the right platform is very important and should not be underestimated.

User-friendliness and usability may therefore have a direct impact on personal trading results. So if you pay the necessary attention here, you will be able to capitalise on it in the end. We recommend our test winner eToro, as it offers the best conditions.

Step 2: The first registration

The registration procedures on the crypto exchanges are similar in many respects. Initially, you will probably only have to enter basic information in a form on the homepage. This usually includes first and last name, email address and date of birth.

In some cases, you will also have to choose a user name and define a password. Especially when choosing a password, make sure that you choose a secure string. Some platforms will not allow weak passwords in the first place.

Often, after this first registration, you will have to check your email inbox again to confirm your registration.

Even if you don't have to give all your information straight away, you can expect to have to provide further information in order to use a platform to its full potential. This includes, for example, your personal address, but also information on your work situation and income.

Step 3: Verification of the data

Withdrawals will probably only be possible once the data has been confirmed in a verification procedure (for example with IDNow). To do this, you should be able to upload various documents to your account.

To confirm your identity, you will have to make a copy of your identity card or passport and upload it.

Furthermore, due to European guidelines, a confirmation of the address will also be required. To verify this, it is best to use personal consumer bills.

Electricity, water and gas bills are particularly suitable for this purpose. Just make sure that you use a document with a current date on which the name is also clearly visible.

It is difficult to generalise how long such a confirmation procedure will take in the end. It depends on the processes at a provider as well as on the validity of the documents.

Even if you can already make a deposit and conclude your first trades, the payout will probably only be possible after verification. However, if you want to buy cryptocurrencies with Paypal and also want to make deposits and withdrawals via Paypal, you cannot avoid verification. This is where the provider protects itself.

Step 4: The deposit

Depending on the platform, you will find various deposit options. Especially with crypto brokers, you can expect to find all kinds of methods that include credit cards and bank transfers as well as other service providers.

The big advantage of eToro is the possibility to buy cryptocurrencies with Paypal. However, pure crypto exchanges often only allow deposits via cryptocurrencies. For beginners and all those who want to pay quickly and securely with Paypal, eToro is therefore particularly suitable. However, there are also other deposit and withdrawal options.

Here is an overview of all payment methods available at eToro:

Payment option    

possible?

Buy Cryptocurrencies with credit card

ok

Buy Cryptocurrencies with PayPal

ok

Buy Cryptocurrencies with SOFORT Bank Transfer

ok

Buy Cryptocurrencies with Skrill

ok

Buy Cryptocurrencies with Bank Transfer

ok

Buy Cryptocurrencies with Neteller

ok

Buy Cryptocurrencies with UnionPay

ok

Step 5: Buy cryptocurrencies: Paypal

Crypto brokers and exchanges are similar in this step. One will be able to choose from a selection of currency pairs and then view charts and statistics for the chosen value.

The exact trading functions depend on the provider used, but usually one will opt for a buy or sell order. Either one trades at the current market price or one gives the platform the order to buy or sell at the desired price.

If you agree, you can easily buy the cryptocurrency with Paypal. A certain similarity to exchanging money cannot be denied. So you will have to do without great trading functions here. In some cases, you will also be able to define a desired price here, which will only execute the purchase when the price is reached.

We recommend buying cryptocurrencies with our test winner eToro, as it is fully regulated and licensed in addition to offering the lowest fees.

Buy IOTA, Ethereum, Litecoin, Ripple & Other Cryptocurrencies with Paypal

IotaEthereum CryptocurrencyLitecoin CryptocurrencyRipple Cryptocurrency

The above instructions for Bitcoin (BTC) are also suitable for other cryptocurrencies. You simply follow steps 1-3 and can get to all cryptocurrencies imaginable this way. The broker eToro supports a wide range of crypto assets, giving traders free choice over their assets.

Even the popular cryptocurrencies IOTA and Ethereum can be bought with Paypal. You just have to know how. Has put together two guides especially for these top cryptos: IOTA mit Paypal kaufen Guide 2021 & Ethereum mit Paypal kaufen Guide 2021. Generally, eToro currently offers the following cryptocurrencies:

IOTA, Ethereum, Litecoin, Ripple

Bitcoin
Ethereum
Bitcoin Bargeld
Dash
Ripple

Litecoin
Ethereum Klassisch
Cardano
IOTA
Stellar
EOS

NEO
TRON
ZCASH
Binance-Coin
Tezos

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

Buy cryptocurrencies: Paypal also possible with altcoins?

Even though Bitcoin is still the most popular cryptocurrency, there are numerous coins that have great potential. Those interested in altcoins can find out about the different coins:

Those interested in specific coins can easily follow our guides to buy cryptocurrencies with Paypal:

Buy Altcoins: General guide
Buying Bitcoin (BTC)
Buy Bitcoin Cash (BCH)
Buy Binance Coin (BNB)
Buy Bitcoin Gold (BTG)
Buy Bitcoin SV (BSV)
Buy Cardano (ADA)
Buy Chainlink (LINK)
Buy Dash (DASH)
Buy Dogecoin (DOGE)
Buy EOS (EOS)

Buy Ethereum (ETH)
Buy Golem (GNT)
Buy Iota (MIOTA)
Buy Libra (libra)
Buy Litecoin (LTC)
Buy Maker (MKR)
Buy Monero (XMR)
Buy Nem (XEM)
Buy Neo (NEO)
Buy OmiseGO (OMG)
Buy Platincoin (PLC)

Buy Polkadot (DOT)
Buy Quantum (QTUM)
Buy Ripple (XMR)
Buy Steem (STEEM)
Buy Stellar Lumens (XLM)
Buy Tether (USDT)
Buy Tezos (XTZ)
Buy Tron (TRX)
Buy Verge (XVG)
Buy Waves (DEX)
Buy Zcash (ZEC)

But what if you are interested in SUSHI or Uniswap, for example? For many cryptocurrencies that are currently not available on eToro, we recommend buying via the CFD broker Libertex. Libertex only recently added the payment option for cryptocurrencies with Paypal, which makes the broker all the more attractive. In the next step, we explain how to buy cryptocurrencies with Paypal via the broker Libertex.

Buy cryptocurrencies Paypal: Now 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.

In the following example, we show how you can buy Uniswap with Paypal.

First step: registering with Libertex

libertex
Before you can buy cryptocurrencies with Paypal on Libertex, you first need an account. Registering with Libertex is quite self-explanatory and should be completed in a few minutes. However, it is important to note that all information must be verified afterwards. Otherwise, you will not be able to make a payout via Paypal.

The usual suspect details such as name, address, telephone number and also e-mail are given. Fill in the data and then choose a password. Then quickly confirm the terms and conditions and you're done with the registration.

Second step: Buy cryptocurrencies with Paypal

Of course, you first need credit in your own account for an investment. This can be topped up in various ways. This is particularly convenient on Libertex via Paypal.

But you can also bring money to the platform with instant bank transfer, Skrill, Neteller or other payment methods.

Payment option    

possible?

Buy Cryptocurrencies with credit card

ok

Buy Cryptocurrencies with PayPal

ok

Buy Cryptocurrencies with SOFORT Bank Transfer

ok

Buy Cryptocurrencies with Skrill

ok

Buy Cryptocurrencies with Bank Transfer

ok

Buy Cryptocurrencies with Neteller

ok

Buy Cryptocurrencies with UnionPay

ok

Third step: Buy cryptocurrencies securely with Paypal

Now we can actually buy cryptocurrencies. At Libertex, crypto trading works with the help of so-called CFDs. Thus, the desired cryptocurrency is offered as a currency pair with the US dollar. It is therefore quite important to note that one does not buy the value oneself, but merely speculates on price developments.

This has the advantage that you do not need your own wallet. However, an increased risk is also to be expected.

First, you choose the desired cryptocurrency. In our case, that would be Uniswap.

This will take you to the overview page for the cryptocurrency. Now click on the "Open Trade" button in your account. At the same time, a new window will open where you can complete the trade.

As an investor, you have several investment options.

    Trade amount: How many coins you want to buy.
    Profit and loss limit: At which loss or profit the position should be sold automatically.
    Multiplier: With which leverage you want to buy cryptocurrencies. Caution: This can quickly lead to an enormous increase in risk.
    Buy: After you have set everything as desired, you can now click on Buy.

Trade crypto CFDs or buy real coins with Paypal?

CFD Trading

Pros

  •    Fee advantage when trading
  •     Regulated by the state and subject to deposit protection: you are protected against hacks and attacks
  •     No complicated set-up of a custody account required
  •     Trading with leverage

Cons

  •    No "real" coins
  •     Fee disadvantage for long-term investors
  •     Risky investment: large losses possible in the case of leveraged (leveraged) trading

"Real" crypto trading

Pros

  •    Owning real cryptocurrencies that you can manage yourself
  •     Steep learning curve
  •     Those who want to hold cryptocurrencies for the long term have an advantage here in terms of fees

Cons

  •    Vulnerable to hacks and cyber attacks
  •     You are responsible for managing the wallet keys - if the passwords are lost, the cryptocurrencies cannot be recovered.
  •     A wallet (paper or hardware) is required for truly secure storage.

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 coins often comes with a steep learning curve. However, you are more vulnerable to hacker attacks and losing the password to your wallet.

Ultimately, it is up to the investor whether he wants to trade CFDs or real coins. However, if you have chosen our test winner eToro, you can take advantage of both real trading and 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 Cryptocurrencies: Paypal Fees Comparison

Let's take the following example to compare fees when buying bitcoin. All those brokers also offer buying cryptocurrencies with Paypal:

    We buy Bitcoin for 1.000€.
    We keep our Bitcoin for 30 days and then sell it again
    We assume that the exchange rate does not change during the 30 days.


Here's how the following fees stack up at eToro, Coinbase, Libertex and Plus500:

Provider    

etoro

coinbase

Plus500

Libertex

Deposit    

free of charge

3,99%

free of charge

free of charge

Purchase fees

0,75%

1,49%

3,08%

0,41%

Holding fees

free of charge

free of charge

0,05%

free of charge

Selling fees

0,75%

1,49%

3,08%

0,41%

Payment

5 USD

0,15 USD

1,9%

free of charge

Total fees

19,20€

68,24€

92,32€

8,20€

Buying cryptocurrencies anonymously with PayPal - is that possible?

No. Unfortunately, there is no known cryptocurrency exchange that allows you to buy cryptocurrencies with PayPal. However, there is a solution to the problem: eToro offers not only cryptocurrency CFDs but also physical coins for purchase. In order to trade cryptocurrencies or cryptocurrency CFDs, you need to set up an account with a broker or CFD broker.

This almost always requires verification of your account details. In addition, you also have to provide your data when you open an account with Paypal. Therefore, a completely anonymous purchase of cryptocurrencies with Paypal is unfortunately not possible.

Buy cryptocurrencies Paypal without registration

If you can't act completely anonymously, then surely you should be able to buy cryptocurrencies 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 cryptocurrencies and the like, customers 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 cryptocurrencies with PayPal without registering" must be rejected. Take the registration upon yourself and benefit from increased security, which is of immense importance especially in the cryptocurrency industry.

Buy cryptocurrencies 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 cryptocurrencies with PayPal but without verification is on thin ice. Only dubious providers from overseas allow crypto trading without verification. In the vast majority of cases, however, the payment giant PayPal keeps its distance from such offers.

Cryptocurrency Wallet PayPal - do you need your own wallet?

If you decide to buy cryptocurrencies with PayPal via eToro, you don't 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 cryptocurrencies. Cryptocurrencies remain protected and secure thanks to the wallet at eToro.

If you buy cryptocurrencies with Paypal via CFD trading on Libertex, you also do not need a wallet. On Libertex you bet on the price movements of cryptocurrencies, so your own wallet is not required.

However, those who buy real coins can also decide to acquire a hardware wallet, for example.

Buy cryptocurrencies with PayPal in the app

If you want to trade cryptocurrencies on the go and also buy cryptocurrencies with Paypal, you should make sure that the broker supports both. eToro offers its customers an in-house app with which you can buy and sell cryptocurrencies with Paypal from anywhere.

There are also two different apps that can be used for crypto trading on the one hand and as a 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, cryptocurrencies can only be bought with PayPal via the trading app. You can then comfortably store the purchased coins in the mobile wallet.

with PayPal

Buy cryptocurrencies with PayPal: Our conclusion

If you want to buy real coins 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 cryptocurrencies via PayPal. If you want to trade Bitcoin in particular, you can read our guide to buying Bitcoin with PayPal. For all those coins that are not available on eToro, we recommend the CFD broker Libertex, which only recently introduced PayPal as a payment method. Here you can find mainly new cryptocurrencies and DeFi projects.

The editors' recommendation is eToro. With CFDs as well as with real cryptocurrencies, one can profit from value developments and look forward to a fully regulated platform.

Paypal

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

Where is the best place to buy cryptocurrencies with Paypal?

In the overview above, you can find the most diverse options for buying cryptocurrencies 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.

How long does a Paypal payment take?

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.

What does Paypal cost/what fees do I have to pay?

Paypal is initially free of charge for the normal user. Registration is free of charge and maintaining the account does not cost any money either. Only when receiving money do you have to expect that fees will be 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.

What alternatives are there to Paypal?

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 cryptocurrencies, you have to take a closer look. This payment method is not very common in crypto trading.

Can I also buy new cryptocurrencies with Paypal?

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 tokens can still exchange them for other currencies on exchanges.

Is PayPal a cryptocurrency?

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.

Hi, my name is Benzion. I have twelve years of experience in the Forex industry, and I have launched two successful crypto trading services. I have in-depth experience on several blockchain networks like Bitcoin, Etheruem, EOS, Cardano, Hyperledger, ICON, Komado, etc. I also have in-depth knowledge of blockchain techniques, including various consensus mechanisms, DLT, smart contracts, security, and privacy measures. Benzion Friedman