How to buy Bitcoin from PayPal

Paypal Bitcoin

PayPal has been allowing people to buy Bitcoin for some time now. However, this feature has only been added to users in certain countries including the US and UK for now, so most of the users using it around the world cannot enjoy this feature yet.

Buy Bitcoin from PayPal in the app

For those who are enabled,  a new section appears within the PayPal website or app, specifically dedicated to the purchase and sale of cryptocurrencies. It actually works like a cryptocurrency exchange, even if it is actually based on a third-party exchange. Users do not perceive that the transactions are made on another exchange, since it operates exclusively from the PayPal platform.

The company has also published a guide on its official website that shows how to transact cryptocurrencies directly on PayPal.

The process is really simple, as it is enough to access the “Finance” section and then select “Crypto”. At that time, once you enter the Crypto subsection, simply select the cryptocurrency you want to buy, and click on “Buy”  indicating the amount. The funds to pay for the purchase will be taken, as usual, from your PayPal account.

Apart from Bitcoin, other cryptocurrencies are also available.

It is worth mentioning that PayPal applies a commission on cryptocurrency purchases, which is generally higher than that of the main professional cryptocurrency exchanges.

Buy Bitcoin from PayPal in the app
PayPal has been allowing you to buy Bitcoins for some time now

Buy Bitcoin paying with PayPal

Unfortunately, things are more complex if you are not among the users who have this feature enabled.

In this case, you can only use PayPal as a payment method on external platforms that allow the purchase of Bitcoin.

However, there are few cryptocurrency exchanges that support direct payment with PayPal, but there is a way around this limitation.

In fact, PayPal also offers its users the possibility of getting a debit card that works on the Mastercard network. Such a card allows payments to be made anywhere Mastercard debit cards are accepted, and therefore also at most exchanges.

However, this modality has a limit, since the card can only have funds already deposited in your PayPal account, and not from external sources such as other cards or bank accounts. Therefore, you can use it only if you already have funds deposited in your PayPal account, and only to spend amounts equal to or less than your PayPal account balance at the time of payment.

However, your PayPal account can be “recharged” by withdrawing funds from a bank account or a credit or debit card.

Alternatively, some exchanges, such as  Coinbase, allow you to link a PayPal account as a source from which to withdraw funds or make payments with your own PayPal account. Unfortunately, there aren’t many, and these features are often not available worldwide.

Keep in mind that the commission costs of direct payments made with a PayPal account are usually higher than those made with a credit card, so it is not surprising that many exchanges prefer the latter solution.