PayPal has significantly enhanced its cryptocurrency support, introducing a groundbreaking feature for US users. Now, you can not only purchase cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash but also spend them online. This move further legitimizes cryptocurrencies as viable payment methods alongside traditional currencies like the USD and GBP.
Whether you're a crypto enthusiast or a beginner, PayPal’s user-friendly platform makes it easy to get started. Below, we’ll guide you through buying and spending cryptocurrency via PayPal.
How to Buy Cryptocurrency on PayPal
Currently, this feature is exclusive to US-based PayPal users. Supported cryptocurrencies include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
Steps to Purchase Crypto:
- Log in to your PayPal account.
- Select 'Crypto' from the dashboard.
- Browse available currencies and click 'Buy' for your preferred option.
- Verify your identity and complete the transaction.
Limitations:
- You can only hold cryptocurrency purchased directly on PayPal.
- Transfers from external wallets or off-platform withdrawals are not supported.
👉 Explore PayPal’s Crypto Features
How to Spend Cryptocurrency via PayPal
Spending crypto is seamless—just like using any other PayPal payment method during checkout.
Key Details:
- Availability: Only for US users, but usable on any PayPal-accepting merchant site.
- Conversion: Crypto is automatically converted to the merchant’s local currency at PayPal’s exchange rate.
How It Works:
- Choose PayPal at checkout.
- On the PayPal payment page, select your cryptocurrency balance as the payment source.
- Complete the transaction—your crypto wallet will be debited accordingly.
Note: Only one cryptocurrency can be used per transaction. Ensure sufficient balance before purchasing.
Frequently Asked Questions (FAQs)
1. Can I transfer crypto from PayPal to another wallet?
No. PayPal currently restricts external transfers—you can only hold and spend crypto bought on its platform.
2. Are there fees for buying crypto on PayPal?
Yes. PayPal charges a transaction fee, which varies based on the purchase amount.
3. Which merchants accept PayPal crypto payments?
Any online store that supports PayPal payments will automatically accept crypto (converted to fiat).
4. Is this feature available outside the US?
Not yet. PayPal’s crypto spending option is limited to US accounts.
5. Can I use multiple cryptocurrencies in a single purchase?
No. Each transaction deducts funds from one cryptocurrency wallet only.
👉 Learn More About Crypto Payments
Final Thoughts
PayPal’s integration of cryptocurrency buying and spending marks a major step toward mainstream crypto adoption. While limitations exist (e.g., US-only, no external transfers), the platform’s ease of use makes it an excellent entry point for beginners.
Stay tuned for updates as PayPal expands its crypto services globally!