- In November 2020, PayPal added cryptocurrency buying and selling features.
- You can buy Ethereum, Bitcoin, Bitcoin Cash and Litecoin on PayPal.
- You can spend your crypto at PayPal merchants, but can’t transfer it out of PayPal’s digital wallet.
In November 2020, PayPal introduced crypto buying and selling features, enabling its 346 million users worldwide (starting with those in the US) to buy and hold Ethereum, Bitcoin, Bitcoin Cash, and Litecoin using its platform.
PayPal users in the US can also use cryptocurrencies to buy from the platform’s 26 million merchants around the world, with their crypto being converted into fiat currency at the point of sale. The features will be rolled out to users around the world from early 2021.
The good news is, buying Ethereum on PayPal is a simple process. Here’s how it works.
How to buy Ethereum with PayPal
To begin with, you’ll need a PayPal account, which you can set up using your credit card or bank account, along with an email address, at PayPal.com.
You’re now ready to buy some ETH (whether you use the PayPal.com website, or the app, the experience is pretty much the same; we’re using the website for this step-by-step guide). From the PayPal website’s home screen, or the app’s Payments screen, select the “Buy Bitcoin and more” banner at the top of the page.
Next, choose which cryptocurrency you want