How To Buy Ethereum With Paypal? Step by Step Guide

You might be aware that the Ethereum platform has established itself as one of the promising and widely used cryptocurrencies in the world. And the credit for that goes to the introduction of advanced smart contracts and the ability to support decentralized applications. Therefore, Ethereum is also considered a whole ecosystem of blockchain-based innovation rather than a digital currency.

Now that people have started realizing its potential and benefits, the number of people trying to invest in it is growing rapidly. As a result, there is a rise in online crypto buying and high demand for a platform offering secure transactions of cryptocurrencies.

However, you had to follow a complex process like setting up a crypto or digital wallet, managing security protocols in the past, while purchasing cryptocurrencies. So, as a beginner, it was confusing to invest in cryptocurrencies.

Analyzing this problem, PayPal, a globally trusted digital payment platform, introduced its online crypto buying and holding services. They offer you a familiar interface, secure transactions, and a seamless buying experience with your existing PayPal account, eliminating the complex process.

So, in this blog, we will be taking you on a journey to help you understand how to buy Ethereum with PayPal in simple steps, along with other necessary information. Let’s get started.

Why Use PayPal to Buy Ethereum?

Are you wondering why you should choose PayPal when there are a number of other options to choose from?

Let us clarify that for you. Here are the key reasons to buy Ethereum with PayPal:

1. PayPal is a globally trusted brand that offers you strong protection policies and secure transactions.
2. PayPal offers you an appealing dashboard where you can buy, sell, and hold Ethereum within just a few clicks, unlike other platforms with longer and complex steps.
3. The transaction speed is way faster than traditional methods because you don’t have to wait for bank transfer clearance.
4. PayPal provides you with an in-app wallet feature, so you don’t have to worry about setting up a third-party wallet.
5. No need to fill up separate KYC forms for buying Ethereum if you are already a PayPal user.

Pre-requirements before Buying Ethereum with PayPal

Before getting into the process of buying Ethereum from PayPal, there are two simple requirements you must fulfill, and they are:

1. You must be a fully verified user, and that includes:
   1. Email address and phone number linking
   2. Addition of funding sources like your Debit/Credit card, Bank account details
   3. Valid ID verification
2. You need to have a sufficient balance in your account that includes both the equivalent of Ethereum and application fees.

Top Platforms to Buy Ethereum with PayPal

Since you are learning how to buy Ethereum with PayPal, it is a must that you choose a suitable platform for easy buying process. And here you will get to explore the top three platforms to buy Ethereum with PayPal.

PayPal(Direct Purchase)

Yes, you can buy Ethereum directly from PayPal just by following a few steps using their app or website. And the ETH that you bought will be kept in your PayPal account, which can be transferred to an external crypto wallet whenever you want.

But this service is limited to certain countries only. In particular, you can buy Ethereum directly from PayPal in only countries like the USA, Canada, and the countries of the EU.

eToro

eToro is a social trading platform established in 2007 with headquarters in Israel and offices in the UK, Australia, and Cyprus. It allows you to trade a variety of assets, including different cryptocurrencies that count over 120+ cryptocurrencies. Further, you can buy cryptocurrencies like Ethereum and Bitcoin via your PayPal account with a minimal charge of approximately 1.9%.

Zengo

Zengo is another secure, non-custodial crypto wallet that allows you to purchase Ethereum using PayPal as a payment method. Its design is appealing and simple to use, even if you are new to using a crypto wallet. Further, it supports over a thousand assets, including cryptocurrencies and ERC-20 tokens.

Step-by-Step Guide to Buying Ethereum with PayPal

Finally, you are at his part where you get to learn the steps to buy Ethereum with PayPal. Let’s begin the Ethereum buying guide:

Step 1: Choose a Platform

First, decide on the platform where you'd like to buy Ethereum. Some of the popular, user-friendly, secure, and fast platforms that you explored just earlier are Zengo, PayPal, and eToro. You can pick any one of them, however, you need to be aware that not all apps support PayPal integration worldwide.

Step 2: Create an Account

The second step can be skipped if you are already a verified user on the platform; otherwise, register on your chosen platform. The steps for this are:

• Entering your email and creating a password
• Completing identity verification (KYC), such as uploading a government-issued ID
• Verifying your email address or phone number

Step 3: Link Your PayPal Account

After you get yourself an account on the platform, your next step is linking your PayPal account, and if you don’t have one, again, create a PayPal account first. Now, to link your PayPal account, you have to go through the following steps:

• Go to the payment settings or funding method section
• Select PayPal and follow the instructions to connect your PayPal account
• Confirm your connection by logging in to PayPal and approving access

Step 4: Select Ethereum (ETH)

Then, navigate to the “Buy” section of the platform and choose Ethereum (ETH) as the cryptocurrency you want to buy.

Step 5: Enter Purchase Amount

After that, enter the amount you want to buy. In most cases, the platforms will show you:

• Current Price of Ethereum
• Total Cost (including fees)
• Total Ethereum You will Receive

Also, make sure that you have enough balance in your PayPal account before buying.

Step 6: Confirm Transaction

Now, review the transaction summary carefully, then confirm the transaction. Most platforms will send you a confirmation email or display a transaction receipt on-screen.

Step 7 (Optional): Transfer to a Wallet

This step is optional, as you can hold your Ethereum on the same platform itself. However, if you want to transfer your ETH to an external wallet like MetaMask, Trust Wallet, or Zengo, these steps will help you:

• Go to your crypto wallet
• Copy your Ethereum wallet address
• Paste it into the platform’s "Send" or "Withdraw" section
• Confirm the transaction and wait for blockchain confirmation

Pros and Cons of Buying Ethereum with PayPal

Here, you will be exploring the pros and cons of buying Ethereum with PayPal and then deciding whether choosing the ETH PayPal method is a good option or not.

Pros

• This method offers you a faster transaction, verified exchange, and you can buy crypto instantly, eliminating complex and longer bank transfers.
• You don’t have to deal with technical aspects like private keys and complex interfaces.
• The PayPal method is more secure than adding debit/credit card details on unknown platforms.
• The PayPal transactions are verified instantly, unlike traditional bank transfers.
• The PayPal method is popular worldwide, so you can find it on almost all platforms.

Cons

• The PayPal transaction requires higher fees as compared to bank transfers.
• The use of this method is restricted to a few countries, not available worldwide.
• In some cases, if you buy directly from PayPal, you may not be able to transfer it to external wallets.

Tips for Safe Transactions

Before concluding the blog, let me provide you with some tips for a secure transaction.

• Don’t try to explore every other platform; stick to popular ones like Zengo, PayPal, eToro, as there are many scamming sites nowadays.
• Enable two-factor authentication(2FA) for an added layer of protection.
• Transfer your Ethereum to a non-custodial wallet, where you control the private keys.
• Double-check your transaction summary before going for the transaction.
• Download crypto apps from the official websites only, or they may be phishing or fake apps that can scam you.
• Keep the records of the transaction for tax purposes.

Conclusion

Due to the popularity and demand from a high number of users, the accessibility to cryptocurrencies like Ethereum is now way easier. And with the integration of a PayPal crypto account, the process is even easier, secure, and faster. Whether you're using platforms like PayPal itself, Zengo, Coinbase, or eToro, you now have different options to choose from. These platforms are not just for experienced users but also for beginners due to their user-friendliness and less technical aspects.

Plus, this blog is here if there is any confusion on how to buy Ethereum with PayPal to solve it all. In particular, you learned why PayPal can be a great option for you, followed by the top platforms you can use, like Zengo and eToro. Then, you learned how to buy Ethereum with PayPal and headed straight into the pros and cons of using it. Lastly, you got some tips to make a secure transaction, and finally, you are at the conclusion of this blog. So, as a whole, you learned the whole ETH PayPal process, i.e, the process of buying Ethereum.

Hope this blog was helpful for you to navigate the process of buying Ethereum with PayPal. And, remember to make an informed decision before buying, whether it is for a long-term investment or a first-time buy.