Even though cryptocurrency investors, traders, and enthusiasts have a wide range of options for buying cryptocurrencies, they still wish PayPal could be added to the list. But in recent times, PayPal decided to shift ground in 2020 when it announced that users can now buy, sell, and hold crypto directly through their platform. People can now buy cryptocurrency with PayPal.
However, not everyone knows how to go about this. In fact, many people still wonder if it’s possible to buy cryptocurrency with PayPal, especially the European traders. Well, the answer is yes. Even though it all began with users in the United States, it is also now possible to buy crypto with PayPal in Europe. Just that, for you to buy crypto with PayPal in Europe, all transactions will have to be conducted in USD.
Nonetheless, in this post, we will be showing some easy ways you buy your favorite crypto in Europe using PayPal. So, let’s get into business!
There Are Basically Two Ways to Do This
Yes, buying crypto with PayPal can be done in two major ways. The first is to buy your coin directly from the PayPal platform or use some crypto exchanges that accept PayPal as a payment option. While the first option tends to be the easiest and ‘safer’ method, it comes with its limitations. There is a limitation to the type of coins you can buy.
Presently, you can only buy Bitcoin, Ethereum, Litecoin, and Bitcoin Cash directly from the PayPal platform. But with a crypto exchange, you are open to a wide range of coins, making it easy for you to purchase your favorite coin with PayPal. In the following section of this post, we will walk you through how you can use the two methods to purchase your crypto with PayPal.
How to Buy Crypto with PayPal
Like we said one of the options available to you is to buy your crypto directly on the PayPal platform. It is a very easy option – in a couple of steps, you will be done with the whole buying process. At the same time, it is low risk and you can buy as much as $100,000 and as little as $1 every week.
However, the only con here is that you will not be able to withdraw or transfer the crypto to other users. You will only own it there on the platform. It provides a perfect option for people looking to buy cryptocurrency to store their wealth. To buy crypto directly on the PayPal platform, here are the steps to follow:
- Log in to your PayPal account: When you log in, look for the Cryptocurrency option at the top right of your dashboard and click on it.
- Select the crypto you want to buy: Choose the cryptocurrency you would like to buy – whether it is Bitcoin or other coins. But remember that you can only buy 4 types of coins with this method; Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
- Select buy
- State how much you want to buy: Enter the amount you want to spend on the purchase (of course, in dollars) or enter the amount of coin you want to buy, and the amount in USD will be shown to you.
- Choose payment method: Choose the option to pay for the coin. This could be from your PayPal balance or with a card linked to your PayPal account. Then click Next.
- Hit the “Buy” button: After clicking Next, a confirmation screen will show up for you to confirm your inputs. Confirm it to finalize the transaction. Immediately, you will see the crypto you just purchased on your PayPal dashboard. And that’s it!
How to Buy Crypto with PayPal from an Exchange
The second method of buying crypto with PayPal in Europe is using a cryptocurrency exchange. Yes, and that is a perfect choice for European traders as it allows them to buy, sell, and withdraw any coin they buy unlike buying the coins directly on the PayPal platform. However, not all crypto exchanges accept PayPal as a payment option. And those who accept it, not all of them can be trusted.
Below are some of the crypto exchanges you can trust when looking to buy crypto with PayPal in Europe. We also state some of their pros and cons to help you make a better and more informed decision.
#1: Buying from Coinbase
Coinbase is no doubt one of the leading crypto exchanges in the market when it comes to simplicity and ease of use. In just a few steps and minutes, you can buy any crypto of your choice – even if you are a beginner. Furthermore, in April 2021, Coinbase added the option to buy crypto with PayPal on its platform.
That means users can now use bank accounts and debit cards added to their PayPal account to buy any cryptocurrency of their choice. It is that easy. However, the unfortunate thing about Coinbase is that they don’t allow users to buy crypto using their PayPal balance.
Pros:
- Daily limits up to $25,000
- Easy and fast
- Access to a wide range of coins
- You can withdraw fiat to your PayPal account too
Cons:
- Purchasing crypto from PayPal balance is impossible
#2: Buying crypto with PayPal from eToro
eToro is another crypto exchange that makes buying crypto with PayPal possible and super easy. It was one of the early adopters of this method and has seen stand solid, performing well even when other platforms have been shut down even after supporting the PayPal payment method.
With eToro, you have access to a wide range of cryptocurrencies and popular assets, including stocks, indices, ETFs, forex, and commodities. You also have the chance to choose between 16 different digital coins, with most of them being part of the big players in the industry. There is no trading commission and buying crypto on the platform is very fast. If you are looking to buy crypto with PayPal in Europe, you might want to include eToro on your list.
Pros:
- Easy and fast
- Offers a wide range of assets, including cryptocurrencies
- Relatively low fees
- Accepts different payment methods
Cons:
- Withdrawing profits in crypto can sometimes be complicated
#3: LocalBitcoins
Lastly on this post is LocalBitcoins. It is a marketplace where buyers and sellers can easily connect and conduct transactions. Here, you are not dealing with any platform but directly with an actual person. Although fees can be pretty high when using this platform to buy crypto, it provides a very fast option for buying cryptocurrencies. To use LocalBitcoins to buy your crypto, below are the steps to follow:
- Go to LocalBitcoins and enter the amount of crypto you want to buy.
- Choose your seller – but make sure you do your diligence so you don’t choose the wrong person here. So, look out for some red flags in the account of the seller.
- Complete the trade with your seller
Pros:
- A wide variety of sellers across the globe
- You can buy at a competitive price since sellers are many
Cons:
- High risk since you can be easily scammed
- It also attracts high fees
Final Note
Now you know that you can buy crypto with PayPal in Europe, and you also know the methods to use. If you are not comfortable with buying on PayPal because of some of its cons, you can use a crypto exchange to get your coins without stress.
However, make sure you go for a crypto exchange you can trust. Check through the ones we recommended in this post again, and decide on the one that best meets your needs.
