There seems to be a lot of misinformation out there about crypto exchanges that accept PayPal. Almost all of the top crypto platforms avoid PayPal due to chargeback capabilities. It is an unnecessary added risk for the exchange, which they usually just avoid. Nonetheless, from my extensive research and testing, I have found two good options.
Best PayPal crypto exchanges in 2022
#1. eToro: Best Overall for PayPal Purchases
eToro allows their customers to deposit funds into their eToro account using PayPal and then facilitates buying, selling and trading cryptocurrencies. eToro typically supports around 50 of the most popular cryptocurrencies depending on what geo you're in. eToro charges 1% to buy and sell cryptocurrency, which is not the lowest-fee option around, but is still reasonable. Overall eToro is a very easy to use platform, we even wrote a guide on how to buy bitcoin using eToro where you can see the steps.
What I really like about eToro is the community-style social platform they have created. You will have access to a social media-style newsfeed where you can read updates from popular traders/investors who share their insights. eToro also gives you the ability to copy popular traders move-for-move which will automate your investment strategy. Click here for my in-depth review on eToro. If you are an Australian citizen, you can see my review specifically on eToro Australia.
#2. Paxful: Best peer to peer PayPal purchases
Paxful is a peer to peer cryptocurrency platform that matches people who want to buy with people who want to sell. You can see in the screenshot below that people are selling Bitcoin and accepting payment via PayPal. Paxful acts as an escrow service in this case, so you transfer the money to Paxful and they act as the middle man, only releasing the funds when the crypto is transferred to you.
Its a pretty cool service but there are a few drawbacks: Paxful only supports Bitcoin and Ethereum which is a tiny range of coins compared to eToro. The fees you will have to pay to receive the Bitcoin via the blockchain plus the escrow fees will likely be higher than simply using a broker (although this varies).
Overall, I would recommend using eToro for purchasing crypto using PayPal, if you are a casual or intermediate investor. However, if your goal is serious crypto trading, then neither of these are an ideal solution. The easiest method would be to buy crypto with Paxful and then transfer it to your Binance or KuCoin wallet and begin trading from there. You may have heard that Coinbase accepts PayPal; this is misleading, as it is only supported for withdrawals.
If your goal is just to buy a few cryptocurrencies and hold on to them for the long term (HODL), then eToro is an excellent solution. If these two options are not enough and you're willing to use other payment methods besides PayPal, then read our top US-based crypto exchanges list. If you have any questions, feel free to contact us.
Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.