How to Buy Ethereum with PayPal in 2024
Acquiring Ethereum has become increasingly accessible over time, with various platforms now offering the ability to purchase it through PayPal. While users can also buy ETH directly within the PayPal app, using PayPal to buy Ethereum on a dedicated crypto app has several benefits.
As we delve deep into the details of how to buy Ethereum with PayPal in 2024, we’ll explore the best platforms, review their features, and provide a step-by-step guide for a seamless transaction using this payment method.
Best Platforms to Buy Ethereum with PayPal in 2024
- Binance: Global exchange known for its extensive range of cryptocurrencies.
- Coinbase: A widely-used CEX suitable for both beginners and experienced traders.
- Bitstamp: One of the oldest exchanges, known for its reliability and PayPal integration.
- Plus500: CFD trading platform supporting PayPal deposits. Trade Ethereum without owning it.
Buying Ethereum with Paypal: Top Platforms Reviewed
In the quest to find the most suitable platform to buy Ethereum with PayPal, we’ve researched several of the major players. Below, we shall review each platform, highlighting their key features as well as any pros and cons of using them.
1. Binance – Fast and Secure Ethereum Purchases with Paypal
Binance has both speed and security, excelling in fast and secure Ethereum purchases with PayPal.Once known as the world’s largest centralized exchange (CEX). Its competitive trading fees, potential discounts, and extensive range of cryptocurrencies make it a favorite among seasoned traders.
Its interface is comprehensive and complex, which may be overwhelming for beginners. Binance charges 0.10% per transaction in addition to the spread.
Pros
- Strong liquidity
- 400+ cryptos listed on its platform
- Global and trusted brand
- 24/7 customer service
Cons
- $27 withdrawal fee
- No major regulation
| Features | Description |
| Fees | 0.10% per transaction |
| Security | Advanced security protocols for user protection, encrypted data, 2FA |
| Regulation | Not regulated in the UK, Binance US has limited functionalities in the US |
| USP | Wide range of markets |
2. Coinbase – A Reliable Option for Buying Ethereum
Coinbase is a reliable option for those seeking a trustworthy platform for buying Ethereum with PayPal. The platform positions itself as a reliable option, known for its trustworthy reputation. Despite slightly higher fees compared to some competitors, Coinbase has a transparent fee structure, and quick trade executions enhance the overall user experience.
It is regulated in the UK and has licenses in several states in the USA. It charges between 0.5% and 4.5% per trade, depending on the transaction size.
Pros
- Trusted platform with a solid reputation
- Strong multi-jurisdiction regulation
- Security measures, including insurance coverage
Cons
- Slightly higher transaction fee compared to some competitors.
| Features | Description |
| Fees | 0.5% – 4.5% per transaction |
| Security | 2FA, password protection, 90% of assets held in cold storage |
| Regulation | Regulated in the US and UK |
| USP | Good educational content for beginners |
3. Bitstamp – Established and Secure Exchange for ETH Purchases
Bitstamp combines establishment and security, offering a robust platform with competitive fees and volume-based discounts. Effectively, the more Ethereum you purchase, the cheaper it becomes. While it provides competitive fees and reliability, the platform’s cryptocurrency variety may be considered limited when compared to other platforms on the list.
It currently has 80 listed cryptocurrencies on its platform and charges 0.40% for all transactions under $10,000. This fee is halved for transactions of $100,000.
Pros
- Well-known brand in crypto
- All funds are backed, 95% held in cold storage
- Security measures, including insurance coverage
Cons
- 0.006 ETH withdrawal fee
- Limited crypto offering
| Features | Description |
| Fees | 0.40% per transaction < $10,000 |
| Security | Client funds are kept in cold storage |
| Regulation | Licensed in the UK, US, and Europe. |
| USP | Good educational content for beginners |
4. Plus500 – Derivative Trading Platform with PayPal Deposits
Finally, we have Plus500, which uniquely caters to derivative trading, providing an option for users interested in Ethereum without direct ownership. The crypto exchange has no fees for PayPal deposits and has a competitive range of markets offering flexibility to traders.
Although it focuses solely on CFD trading, you can still speculate on Ethereum’s future price movement. This can be a good entry into the marketplace for beginners looking to learn the ropes.
Pros
- Trade without owing the asset
- No deposit fees using PayPal
Cons
- $10 per month inactivity fee
| Features | Description |
| Fees | 0.25% to 2.50% markup on spreads |
| Security | Client funds are held in segregated accounts. |
| Regulation | Regulated in the UK, US, and Europe. |
| USP | Deraviate trading platform, no physical ownership of assets. |
How We Ranked The Top Platforms to Buy ETH with PayPal
Our rankings were determined by analyzing key factors such as how to buy Ethereum with PayPal at the lowest fees. Additionally, we considered user experience, Ethereum trading volume, and platform security. Our rankings are based on objective research of these critical aspects.
Before you decide to instantly buy ETH with PayPal, let’s explore the factors to consider in more depth.
Easiest Trading Experience
Firstly, it is vital to feel at ease with the platform you are using. We evaluated the platforms based on the simplicity of their trading interfaces, as well as additional features to help navigate the buying process, effortlessly.
Lowest PayPal Fees
Considering transaction fees is crucial, and platforms offering lower fees when buying ETH with PayPal received higher rankings from us.
By finding a more cost-effective exchange, traders can focus more on the markets instead of being apprehensive of fees associated with trading. Some platforms like Coinbase charge 0.5% – 4.5% per transaction.
Highest Ethereum Trading Volume
Typically, higher trading volume implies better liquidity, leading to more favorable execution prices and speed for users.
Binance is seen as being one of the largest centralized exchanges, with a 24-hour trading volume of $43,402,063,262.09.
Platform Security
Security is paramount in the cryptocurrency space. We have assessed platforms based on their security features, including encryption methods and two-factor authentication. Additionally, we have researched platforms that are regulated or licensed across the globe.
Some regulatory factors considered were safety of funds, regulatory oversight, and know-your-client (KYC) requirements. Most exchanges on the list required all users to register and provide a valid ID before joining.
Those who were regulated in the UK, like Coinbase, are legally required to keep client funds in separate accounts. Should they fail, the FCA will fine them, as recently seen with HSBC who were fined over $57 million for not protecting client funds.
There are other equally secure platforms that support the fiat mode of buying Ethereum. Check out our full list of cryptocurrency exchanges for more information.
Pros and Cons of Buying Ethereum with PayPal
Now that you have learned how to buy ETH with PayPal on crypto exchanges, it is also important to understand the advantages and disadvantages of doing so.
Advantages of Buying ETH with PayPal
- Good for Beginners: Buying ETH with PayPal is simple and user-friendly, making it great for newcomers.
- Funds Instantly Available: PayPal transactions are typically swift, ensuring a quick purchase process. This means the funds will be instantly available for you to make your trades.
- Widespread Acceptance: PayPal is widely accepted, providing accessibility to a broad user base across different geographies.
- Low fees: This is a cheaper alternative to funding an account with a bank account wire transfer, debit card, or credit card. There are typically high fees associated with those transactions, with processing times of between 3-5 days.
- Security: PayPal offers buyer protection and security measures to help safeguard users’ crypto transactions. This can provide added peace of mind for users when buying Ethereum, knowing that their purchases are protected against unauthorized transactions or fraud.
Drawbacks of Buying ETH with PayPal
- Limited Platforms: Not all crypto exchanges support PayPal transactions.
- Withdrawal Limitations: Some crypto exchanges may impose limitations on withdrawing Ethereum bought with PayPal.
How to Buy Ethereum in The PayPal App
Some of you who have a PayPal account may prefer the convenience of buying Ethereum on the PayPal platform using the PayPal website or mobile app. Here is how to buy Ethereum with a PayPal account:
1. Open the PayPal app and log in.
Open the PayPal platform on your mobile device or on your laptop computer and log in.
2. Navigate to the cryptocurrency section.
Next, click on the crypto tab, where you will see the available cryptocurrency options to buy.
3. Select Ethereum and enter the amount you wish to purchase.
Select ETH and the amount you want to purchase. Review the details and any fees, then click on “Buy.”.
4. Confirm the transaction.
Your transaction will be completed with fees deducted. Your PayPal balance will be updated with your new ETH.
While the PayPal platform offers simplicity, you may find broader options and potentially lower fees on dedicated cryptocurrency exchanges. That is because PayPal is likely getting its liquidity from other exchanges and adding its own markup.
Conclusion
Buying Ethereum with PayPal presents both advantages and drawbacks, requiring individuals to weigh up their priorities and preferences.
The top platforms highlighted in our guide cater to different needs, ensuring that you can make an informed decision based on factors such as ease of use, fees, and security. Through our research, we’ve concluded that Coinbase is the best crypto exchange with its user-friendly interface and low fees. To learn about other ways to buy ETH, read our guide on how to buy Ethereum in 2024.
FAQs
Can I use PayPal to buy Ethereum?
Yes, various platforms, including, Coinbase, and others, support buying Ethereum with PayPal.
What is the cheapest way to buy ETH?
Coinbase is one of the cheaper options. It has zero fees for deposits and all transaction fees are in the spread.
Can I withdraw ETH from PayPal?
Yes, you will be able to withdraw the profits you’ve made investing in ETH on PayPal.
What is the best platform for buying Ethereum with PayPal?
Taking into consideration factors like fees, ease of use, and available features. Coinbase is often seen as a user-friendly and low-cost option for buying Ethereum.
Is it worth using PayPal to buy ETH?
This depends on your priorities. Although more user-friendly, buying directly from PayPal can be more expensive than using a crypto exchange.
Is it safe to buy Ethereum with PayPal?
Buying Ethereum with PayPal can be safe, especially when using reputable platforms with strong security measures. However, you should exercise caution and follow best security practices like enabling 2FA.
References
About the Author
Eric Huffman 
Michael Graw 
