How to Buy Ethereum with PayPal in 2023? – CoinCodex

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There’s three ways to buy Ethereum with Paypal in 2023. If you’re in the United States, you can buy ETH directly on the PayPal platform. Otherwise, you can use PayPal to buy Ethereum on a cryptocurrency exchange, or use eToro. 
In this article, we’ll show you the three methods of buying Ethereum with PayPal, and explain the pros and cons of each method. Let’s get started.
PayPal
The most straightforward way to buy Ethereum with PayPal is to simply buy ETH on the PayPal app directly. However, please keep in mind that this feature is only available for customers in the United States and United States Territories (excluding Hawaii).
PayPal made waves back in 2020 when it first offered its customers to buy crypto directly on the PayPal platform. PayPal’s selection of cryptocurrencies is quite limited but it does include Ethereum, which is the second-largest cryptocurrency on the market.
The fees for buying Ethereum directly on PayPal depend on how much ETH you’re buying. In addition to the fee, PayPal also charges a spread on each cryptocurrency purchase or sale. You’ll be informed about all the additional costs that will apply before you buy or sell a cryptocurrency on PayPal. Here’s a breakdown of PayPal’s crypto fees as of August 2023:
These fees are quite high compared to most cryptocurrency exchanges. However, if you already have a PayPal account and don’t want to create an account on a cryptocurrency exchange, the convenience might be worth the higher fees.
After you buy Ethereum on PayPal, you can hold it, sell it, use it to make purchases, send it to another user with a PayPal account, or send it to an external cryptocurrency wallet. 
The two cryptocurrency exchanges where you can buy Ethereum with PayPal are Coinbase and Bitstamp. Both are considered as very safe and reliable exchanges, but please keep in mind that they charge substantial fees on crypto purchases made via PayPal.
coinbase crypto exchange
Coinbase is a solid cryptocurrency exchange to use if you are looking to buy crypto with PayPal, especially if you’re based in the United States. If you’re a United States user, you can deposit funds to your Coinbase account via PayPal. Otherwise, you can still buy cryptocurrency with PayPal on Coinbase, but you won’t be able to make a deposit.
It’s worth keeping in mind that Coinbase also gives users the option to cash out to their PayPal account.
In order to use PayPal with Coinbase, go to your account’s “Settings” section and then select “Payment Methods”. The next step is to select “Link a New Account” and choose PayPal from the list of payment options. You will then be guided through the process of linking your Coinbase account with your PayPal account.
However, using PayPal to buy Ethereum on Coinbase comes with considerable fees. If you’re directly purchasing crypto on Coinbase with PayPal, the transaction is subject to a 3.99% fee. Meanwhile, USD deposits via PayPal to Coinbase come with a 2.5% fee
For more information about using PayPal with Coinbase, please refer to the exchange’s PayPal FAQ.
Buy Ethereum on Coinbase
Bitstamp exchange
Bitstamp is one of the most trusted cryptocurrency exchanges in the market, as it has been operating successfully since 2011. In 2022, Bitstamp added support for PayPal as a payment method, which makes it possible for their customers to buy Ethereum with PayPal.
After creating an account on Bitstamp, you’ll need to link your PayPal account to Bitstamp. When making a cryptocurrency purchase, choose PayPal as your payment method. Then, you will be redirected to the PayPal website where you will be able to authorize linking your PayPal account and Bitstamp.
Then, you will be able to buy any cryptocurrency listed on Bitstamp using your PayPal account. However, you must keep in mind that you will be charged a considerable 4% fee on your purchase when buying crypto on Bitstamp with PayPal. You can buy up to $2,500 worth of crypto with PayPal on Bitstamp per day, or $20,000 per month.
Buy Ethereum on Bitstamp
eToro
eToro is a very popular trading platform where users can trade stocks, commodities, forex markets, and also cryptocurrencies. eToro supports PayPal deposits, so you can fund your account with PayPal and then use the balance to purchase Ethereum. 
When it comes to buying cryptocurrency on eToro, it’s important to mention one caveat. You cannot directly withdraw cryptocurrency to an external wallet of your choice, as you have to first withdraw the coins to the eToro Money crypto wallet.
eToro charges a fee when transferring crypto from the main eToro platform to the eToro Money wallet. The fee is 2% of the value of the transferred cryptocurrency. The minimum fee you’ll be paying is $1, but it won’t exceed $100 regardless of how much crypto you’re transferring. Of course, you’ll also have to pay the fee that’s required by the blockchain network you’ll be transferring your crypto on.
Buy Ethereum on eToro
It’s hard to recommend PayPal as a good method for buying Ethereum because you will likely be paying a significant amount in fees. Probably the best option to buy Ethereum with PayPal is to buy it on the PayPal platform directly, provided that you live in a country where this feature is supported.
Theoretically, you could also buy Ethereum with PayPal using a P2P crypto marketplace that lists Ethereum and allows sellers to use PayPal as a payment method. However, we haven’t been able to find any such examples at the moment except for Bybit’s P2P marketplace, where there wasn’t a single ETH seller that accepted PayPal at the time of writing this article.
If you’re looking for more efficient ways of investing in ETH, make sure to check out our full guide on how to buy Ethereum.
If you live in the United States, you can buy Ethereum directly on the PayPal platform. Otherwise, you can use a cryptocurrency exchange that accepts PayPal as a payment method — examples include Coinbase and Bitstamp. The third option is to use PayPal to make a deposit on eToro and buy ETH there.
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