Ethereum is the second globally famous crypto, right after Bitcoin. It draws attention due to its smart contract functionality and real-world applications.
It’s available for purchase on some of the best crypto exchanges, PayPal, Cash App, Venmo, or crypto ATMs.
If you want to explore how to buy Ethereum with PayPal start with your PayPal account and connected payment method such as credit or debit cards.
Here are the steps to take:
- Step 1 – Sign up on PayPal or log in
- Step 2 – Choose crypto in “Finances”
- Step 3 – Choose Ethereum and click “Buy” to set an amount
- Step 4 – Choose the payment method
- Step 5 – Make sure you’re getting a good deal
- Step 6 – Send ETH to a wallet or keep it on PayPal
Key Takeaways
- PayPal offers a simple way to buy Ethereum
- Many crypto exchanges also support PayPal as payment method
- Transferring ETH on PayPal is straightforward
- Keeping ETH on PayPal may not be the best option
How to Buy Ethereum Directly on PayPal
Buying Ethereum with PayPal is straightforward and fast. All you need is a verified PayPal account and a connected payment method to start.
PayPal offers a decent amount of cryptos to buy, and the minimum buy amount is $1. This way, you can test out ETH and other cryptos without investing too much money.
The detailed process is described below.
Step 1 – Sign Up on PayPal or Log In
To sign up or log in to PayPal, visit its website or download the mobile app.
Ensure the website you’re visiting is the official PayPal website. It usually shows a padlock next to the web address and “https” as part of the URL.
Then, click the “Sign Up” or “Log In” button and follow the prompts.
If you don’t have an account, provide your email address, create a secure password, and enter your personal information.
Afterward, verify your account through email or phone, and you’re ready to go!
You may need to submit a government-issued ID as well. With it, PayPal will fully verify your identity and you’ll be able to use all its features.
If you use a mobile app, you’ll likely have to input only your password to access your account.
Step 2 – Choose Crypto in “Finances”
PayPal’s tabs are neatly organized, so you’ll see the “Finances” tab right when you enter the interface.
To access the crypto feature, navigate below the “Finances” section and click the designated button.
Before proceeding with this step, check availability in your area.
At the moment, buying Bitcoin and crypto on PayPal is available only to US residents.
Step 3 – Choose Ethereum and Click “Buy” to Set an Amount
After clicking “Crypto” under the “Finances” section, a list of cryptocurrencies will appear.
Then, select Ethereum and then click “Buy” to specify your desired purchase amount.
Step 4 – Choose Payment Method
Once you’ve selected Ethereum and specified your desired amount, the next step to buy Ethereum with PayPal is to choose your preferred payment option.
PayPal offers several payment methods for purchasing ETH, including:
- Bank account: You can link your bank account to your PayPal to fund Ethereum purchases. This option usually involves a bank transfer
- Debit card: PayPal often accepts debit card payments for buying ETH. You can link your debit card to your PayPal account and use it to make purchases
- Credit card: In some areas, PayPal may allow you to use credit cards for purchasing Ethereum. You can link your credit card to your PayPal account and use it as a payment method
- PayPal balance: If you have a balance in your PayPal account, you can use it to buy ETH directly.
- PayPal credit: In some cases, PayPal Credit may be available as a payment option for buying Ethereum.
Step 5 – Make Sure You’re Getting a Good Deal
When you buy ETH with PayPal instantly, consider the current ETH price, transaction fees, and other rates.
ETH price follows the market, and you’ll want to buy it when the prices drop. That way, you’ll make up for fees and added costs.
You can also dollar cost average your purchases and set up an automatic buy option (daily, weekly, biweekly, or monthly).
Transaction fees are based on the amount you’ll spend and could range from $0.49 to 1.50%.
PayPal will disclose an exchange rate and the transaction fee for each transaction.
Depending on your connected payment method, your bank may also charge additional fees.
This is mostly the case with credit cards when your card issuer considers crypto purchases as cash advances.
Step 6 – Send Your ETH to a Wallet or Keep it on PayPal
After the purchase is done, you can either send the ETH to another wallet or just leave it in your PayPal account.
Leaving it on PayPal is secure and you can access your holdings at any time. There is no limitation to how much crypto you can hold in your PayPal wallet.
Keep in mind that keeping your investments on PayPal means that PayPal has control over your funds.
This is why it’s better to transfer ETH to your personal wallet where only you have access to your private keys.
Buying Ethereum With Paypal on Exchanges
If you don’t want to learn how to buy Ethereum with a PayPal account, you can go through cryptocurrency exchanges that accept PayPal deposits, like KuCoin.
Below is a curated list of exchanges that enable PayPal transactions to purchase Ethereum.
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# 1
Coinbase
PromotionsEarn $10 in Ethereum (ETH) when you stake $100 in ETH for the first time, up to $30 in rewardsCoins -
# 2
Kraken
PromotionsGet $10 in Bitcoin when you register through a referral link from an existing member.Coins -
# 3
Binance US
PromotionsGet $10 USD when you sign up with a referral link from a friend, and make qualifying trades.Coins -
# 4
Crypto.com
PromotionsEnjoy US$50 worth of CRO as sign-up bonus when you sign up with a referral link.Coins -
# 5
Gemini
PromotionsReceive a $10 USD worth of BTC credit when you register with a referral link and trade $100 USD within the first 30 days of registration.Coins
Earn $10 in Ethereum (ETH) when you stake $100 in ETH for the first time, up to $30 in rewards
Coinbase, a major player since its inception in 2012, is a user-friendly cryptocurrency exchange offering a secure platform for buying, selling, and managing a variety of digital assets. With a solid reputation, Coinbase is widely recognized for its reliability, ease of use, and regulatory adherence.
General Information
Year Founded
- 2012
Headquarters
- United States
Licenses
- United Kingdom
- Ireland
- Australia
-
+4
Cryptocurrencies
- Bitcoin
- Ethereum
- Tether
-
+581
Languages
- German
- Japanese
- Italian
-
+9
Support languages
- English
Features
- Coinbase One
- Private Client
-
+9
Get $10 in Bitcoin when you register through a referral link from an existing member.
Established in 2011, Kraken is a trusted cryptocurrency exchange renowned for its longevity and diverse trading interfaces, catering to a broad user base. With one of the best reputations in the industry, Kraken holds the distinction of being the only crypto company worldwide to secure an SPDI banking license.
General Information
Year Founded
- 2011
Headquarters
- United States
Licenses
- United Kingdom
- Australia
- Canada
-
+3
Cryptocurrencies
- Bitcoin
- Ethereum
- Tether
-
+215
Languages
- Japanese
- Italian
- English
-
+9
Support languages
- German
- Italian
- English
-
+4
Features
- Cryptowatch
- Forks
-
+8
Get $10 USD when you sign up with a referral link from a friend, and make qualifying trades.
General Information
Year Founded
- 2019
Headquarters
- United States
Licenses
- American Samoa
- Guam
- United States
Cryptocurrencies
- Bitcoin
- Ethereum
- Tether
-
+142
Languages
- English
Support languages
- English
- Spanish
Features
- Conversion
- Institutions
-
+3
Enjoy US$50 worth of CRO as sign-up bonus when you sign up with a referral link.
The Crypto.com mobile app is a feature-rich platform that provides users with a convenient and user-friendly way to manage their cryptocurrency assets on the go. Offering a seamless experience, the app allows users to buy, sell, and trade a variety of cryptocurrencies.
General Information
Year Founded
- 2016
Headquarters
- Singapore
Licenses
- Malta
- United Kingdom
- Cyprus
-
+3
Cryptocurrencies
- Bitcoin
- Ethereum
- Tether
-
+269
Languages
- Danish
- Italian
- Spanish
-
+12
Support languages
- Italian
- English
- Spanish
-
+5
Features
- Supercharger
- Trading Arena
-
+2
Receive a $10 USD worth of BTC credit when you register with a referral link and trade $100 USD within the first 30 days of registration.
General Information
Year Founded
- 2015
Headquarters
- United States
Licenses
- United States
Cryptocurrencies
- Bitcoin
- Dogecoin
- Litecoin
-
+123
Languages
- Italian
- English
- Spanish
-
+1
Support languages
- English
- Spanish
Features
- Clearing
- Gemini Dollar
-
+5
Disclaimer: The information provided on this website is for informational purposes only and should not be considered as financial, investment, or legal advice. Cryptocurrency investments are volatile and high-risk in nature. Consult with a qualified financial advisor and/or tax professional before making any investment decisions. We are not responsible for any loss incurred due to the use of information on this website. Do your own research and exercise caution. Don’t invest unless you’re prepared to lose all the money you invest.
How to Send/Transfer Ethereum on PayPal
Sending Ethereum using PayPal gives you access to a smooth cryptocurrency transfer process to other PayPal users.
It works similarly to the usual crypto wallets.
Use the platform’s robust transaction security and user-friendly interface for seamless transfers:
- Go to the “Finance” tab
- Click your crypto balance and choose “Transfer”
- Click Send
- Sync your contacts if you’re sending to another PayPal account
- Manually paste an address if you’re sending outside of PayPal or scan a QR code
- Choose the amount you want to send and click “Send Now”
How to Receive Ethereum on PayPal
Just like you can send ETH, you can also receive it in your wallet within PayPal.
The following steps will help you to receive Ethereum using PayPal instantly:
- Go to the Finance tab
- Click your crypto balance and choose “Transfer”
- Click Receive
- Choose the coin you want to receive
- Copy your wallet address or share its QR code
Pros & Cons of Buying Ethereum on PayPal
Here are some pros and cons of buying ETH on PayPal to consider.
Pros | Cons |
---|---|
Instant funding | PayPal holds your funds |
Security | Not good for daily trades |
Simple interface | Transaction processing delays |
Acceptance on a large scale | |
Minimal fees |
With PayPal, everything is instant. You can use your current balance to purchase ETH or fund your account within seconds.
Once you finalize the purchase, ETH will be in your wallet almost instantly.
PayPal utilizes various security measures and data encryption and enforces you to set up two-factor authentication.
The platform has been there for years and offers a straightforward interface to its users. It’s accepted globally, although crypto features are available only to US users.
Then it comes to cons, PayPal acts as custodian. This means it will give you the right to your crypto but you won’t have private keys and control over your holdings.
Furthermore, if you wish to trade more often, it’s easier to withdraw ETH to an exchange since PayPal doesn’t offer trading tools.
How to Set Up an Ethereum Wallet
After you learn how to buy Ethereum with PayPal, you have to set up an Ethereum wallet for secure storage. Even the safest crypto exchanges can get hacked, so storing ETH in your private wallet is the best way to go.
Here are the steps you can follow to set up your Ethereum wallet, like MyEtherWallet or MetaMask:
Step 1: Select a Wallet Type
There are two types of Ethereum wallets: hardware wallets (USB), and software wallets (desktop, mobile, or web-based).
Each has unique benefits and risks to consider.
Software wallets are good for taking your trading on the go. However, they’re always connected to the internet, so they’re at risk of being hacked.
Hardware wallets are frequently regarded as the most secure because they keep your private keys offline.
They come in the form of a USB stick which you’ll connect to an interface only when you’re about to make a transaction.
Step 2: Choose a Wallet Provider
Depending on the type of wallet you require, select a trusted provider. Research to know if your wallet provider has security policies. Read user feedback on Trustpilot and Reddit.
The rule of thumb is that the longer the wallet provider has been around, the more secure it is.
Check out our Crypto.com review or Trust Wallet review for examples of software wallets and compare them to our Ledger review to see how hardware wallets work.
Step 3: Download and Install the Wallet
If you prefer a software wallet, download and install the wallet program or browser extension from the official website or the app store.
Exchanges like Kraken, Coinbase, and Binance also offer robust mobile apps that double as ETH wallets. Still, if you use these, the exchange will keep your private keys.
If you have a hardware wallet, you’ll likely have to install a desktop client.
Step 4: Create a New Wallet
Once the wallet is installed, you will be prompted to create a new wallet.
Follow the steps given by your wallet provider. This involves creating a new wallet address and a private key or mnemonic phrase.
A mnemonic phrase is a list of randomly generated words that will show up during wallet creation.
You might also get a UTC file which you’ll use as backup.
Step 5: Back up Your Wallet
Write your mnemonic phrase and store it safely – you’ll need it to recover your wallet if something happens to your device.
Never share it with anyone, and keep it offline.
You can write it down in a notebook, print it out, and store it in a safe place in your home.
Step 6: Secure Your Wallet
Set up any additional security features provided by your wallet provider, such as a strong password or two-factor authentication.
Step 7: Transfer Ethereum
You can now send and receive Ethereum to your wallet.
Make sure to transfer only ETH to ETH wallet addresses.
If you send any other coin or token, they will be lost since they won’t be supported by the blockchain.
Depending on your wallet, your address might change with each transaction.
Always double-check the numbers and letters to ensure the address is correct. Alternatively, scan the QR code.
Why Buy Ethereum – Use Cases And Real-World Applications
Discover some uses of your newly obtained ETH tokens, beyond simply keeping them in your cryptocurrency wallet:
- Digital currency: Ether can be traded and used as a means of payment for goods and services, or held as an investment.
- Smart contracts: Ether is used to pay for computational services and transaction fees on the Ethereum network. This includes deploying and executing smart contracts.
- DeFi: Ether is the backbone of many decentralized finance applications built on the Ethereum blockchain. This includes lending and borrowing platforms, decentralized exchanges (DEXs), and yield farming protocols.
- Tokenization: Many tokens are built on the Ethereum blockchain using the ERC-20 or ERC-721 token standards. Ether is often used to purchase these tokens in ICOs or token sales. It may also be used as a means of exchange within dApps.
- dApps: Developers can build decentralized applications on the Ethereum platform. Ether is often used as the fuel to power these applications. These dApps can range from games and social networks to prediction markets and DAOs.
- Staking: With the transition to Ethereum 2.0, users can stake their Ether to help secure the network and earn rewards in return.
- Governance: Ether holders may participate in governance processes on the Ethereum network, such as voting on protocol upgrades or changes.
- Investment: Many individuals and institutions invest in Ether as a speculative asset, hoping its value will increase over time.
- Non-Fungible Tokens (NFTs): Ether is often used to purchase and trade NFTs. These tokens represent ownership of unique digital assets such as digital art, collectibles, and virtual real estate.
- Cross-border payments: Ether can be used for cross-border payments. This provides a fast and relatively inexpensive way to transfer value globally compared to traditional banking systems.
Ethereum has numerous real-world applications in a variety of industries.
It provides transparent, decentralized, and effective solutions that can revolutionize conventional systems and empower people worldwide.
Finance and Banking
Ethereum has revolutionized the finance and banking sectors. It introduced DeFi applications providing innovative solutions without intermediaries.
Smart contracts on the Ethereum blockchain enable the creation of various financial instruments, such as decentralized exchanges, the best lending platforms, and stablecoins.
Even the top crypto interest and savings accounts let you earn interest with Ethereum.
Moreover, Ethereum hosts numerous stablecoins, maintaining a stable value by being pegged to fiat currencies like the US dollar. This facilitates easier trading and hedging within the crypto ecosystem.
Gaming and Entertainment
Ethereum has opened up new possibilities in the gaming and entertainment industries – the creation of NFTs, decentralized gaming platforms, and digital collectibles.
Ethereum’s ERC-721 standard allows for the creation of unique digital assets, including artwork, virtual real estate, and in-game items.
NFTs enable true ownership and provenance of digital assets, leading to new revenue streams for content creators and gamers.
Furthermore, Ethereum-based marketplaces enable the trading of digital collectibles. These platforms provide a new way for fans to engage with their favorite brands and franchises while unlocking value from digital assets.
Social Impact Projects
Ethereum’s technology is also being harnessed for social impact projects, empowering communities and addressing various social and environmental challenges.
Ethereum’s blockchain enables transparent and accountable fundraising through Initial Coin Offerings (ICOs) or token sales.
Social impact projects can create tokens that represent ownership or participation in the project, allowing supporters to contribute directly and see how their funds are used.
Tokens built on the Ethereum blockchain are often donated to help people in need.
Supply Chain Management
Ethereum’s blockchain creates an immutable ledger of transactions, meaning that once data is recorded, it cannot be altered or tampered with.
This feature ensures the integrity of supply chain data, reducing the risk of fraud and providing a reliable source of information for consumers, regulators, and stakeholders.
Smart contracts on Ethereum can automate the verification of certifications and compliance with standards such as fair trade, organic farming, and sustainable harvesting practices.
For example, smart contracts can trigger payments or issue certificates automatically when certain conditions, such as successful audits or inspections, are met.
Ethereum-based supply chain solutions can enable real-time tracking of products throughout the supply chain, from raw materials to finished goods.
Each step in the production process can be recorded on the blockchain, providing visibility into the origin, journey, and handling of products.
This transparency allows consumers to make informed choices and encourages companies to uphold responsible practices.
This enables greater efficiency, transparency, and trust across the entire supply chain.
Why Trust Us
When it comes to navigating the complex world of cryptocurrency purchases, trust is paramount. At CryptoManiaks, we understand the importance of transparency, security, and reliability in every transaction. Here’s why you can trust us to guide you through the process of buying Ethereum (ETH) with PayPal:
With decades of experience in the cryptocurrency industry, we’ve established ourselves as a trusted source for reliable information and guidance. Our track record speaks for itself, with countless satisfied customers who have successfully purchased Ethereum and other cryptocurrencies through our platform.
We prioritize the security of our users’ funds and personal information above all else. Our platform employs state-of-the-art security measures, including encryption protocols and secure payment gateways, to safeguard your transactions and data.
Transparent Process: We believe in transparency at every step of the buying process. From explaining fees and transaction times to providing clear instructions on how to complete your purchase, we ensure that you have all the information you need to make informed decisions.
Frequently Asked Questions
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01.
Are There Any Restrictions or Limitations When Buying ETH With PayPal
PayPal has implemented security mechanisms designed to protect users from fraudulent transactions. So, you should take extra verification steps. This could include confirming identity or finding the source of funds. PayPal may also set specific limits on the amount of ETH you can purchase. The company does this within a certain timeframe to decrease the risk of money laundering or criminal activities.
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02.
How Can I Ensure the Security of My Purchase When Using PayPal?
First, always make sure you’re using a safe internet connection when you log in to PayPal. This helps stop hackers from getting your personal info. Second, turn on two-factor authentication for your PayPal account. This means you need a special code with your password to log in. Also, keep an eye on your account activity and contact PayPal right away if you notice a strange activity.
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03.
Who Can I Contact if I Have Issues Buying ETH With PayPal?
If you have trouble buying ETH with PayPal, it’s best to talk to PayPal’s crypto support team. They’re experts in handling questions about buying ETH and other cryptocurrencies. You can reach them on the PayPal website by going to “Help” or “Support” and starting a live chat.
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04.
What Are the Fees Involved in Buying ETH With PayPal?
When you buy ETH with PayPal, there are usually three kinds of fees you might face. First, PayPal might charge you a fee for using its service, which is usually a small part of what you spend. Second, if you’re using a different currency with PayPal, you might have to pay a fee to convert it to the right currency for buying ETH. Lastly, the platform where you buy ETH might also have its own fees. These fees vary depending on the platform and payment method.
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05.
What Is the Maximum Amount of ETH I Can Purchase With PayPal?
The amount of ETH you can buy with PayPal is determined by several criteria, including your account’s transaction history, verification status, and PayPal balance. PayPal sets transaction limitations to protect security and deter fraudulent activities. Nonetheless, these restrictions are not fixed and might vary based on the circumstances. To get the most up-to-date information on transaction limits for acquiring ETH with PayPal, contact PayPal’s customer service or refer to the official documentation.
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06.
What Is the Minimum Amount of ETH I Can Purchase With PayPal?
The smallest amount of ETH you can buy with PayPal depends on where you’re buying it from. Crypto exchanges have different minimum amounts of ETH purchases. When it comes to PayPal, the current minimum amount is $1.