PayPal

How to Buy Bitcoin on PayPal.com

Here are the exact steps you can use to buy on PayPal.com.

Step 1

Log in to your PayPal.com account. Once you do that, click the three-dots icon on the right side of the screen. I've indicated the icon in the image below with a red arrow.

Step 2

Once you have clicked the icon, you should see a new menu come up with crypto at the bottom. I've indicated the "Crypto" button below in a red box. Click the box that says "Crypto".

Step 3

You should now see a menu with different crypto options. Since we're buying bitcoin in this tutorial, click "Bitcoin". However, you can click on any coin that PayPal offers if you want to buy a coin other than Bitcoin.

Step 4

Once you click on Bitcoin, you should now see a chart with a big "Buy" button below it. Click the blue buy button.

Step 5

Once you click the buy button, you will see a field that allows you to enter the amount of Bitcoins you want to buy.

Step 6 - Choose Your Payment Method

Now, you need to select which payment method you want to use. PayPal will automatically let you use already connected accounts.

Step 7 - Confirmation

PayPal will now ask you to confirm the amount you are buying, with a clear breakdown of the fees and amount of Bitcoin you are getting.

Step 8 - You Bought Crypto!

That's it! You bought bitcoin (BTC) using PayPal.

Note: If you want to send your bitcoin to another address after buying on PayPal.com, you'll need to follow a separate process. Only USA users can send bitcoins to an external address.

PayPal.com also allows you to receive crypto with a crypto address.

PayPal also allows you to acquire PUSD. PayPal [PUSD] is a stablecoin tied to the US dollar, providing a stable alternative to volatile crypto. It's only available for USA customers with plans for global expansion down the line.

In our testing, buying with PayPal works fast but has high fees:

How to Buy Bitcoin on Venmo

1. Login to Venmo and Select Crypto from the hamburger menu

You should see the option for crypto near the top.

Note that you must verify your identity with the settings of the app, and you still may not see a crypto option, as it is being rolled out slowly.

2. Select 'Bitcoin'

Or choose any of the other coins listed.

3. Select 'Buy'

4. Choose How Much You Want to Buy and hit 'Buy Bitcoin' to finalize the sale.

For Venmo, you can use your existing Venmo balance to pay for the bitcoins or add funds to your Venmo account.

That's all there is to it!

Frequently Asked Questions

What cryptocurrencies does PayPal support in the USA?

Customers (except Hawaii) can buy, sell, and hold four cryptocurrencies on PayPal: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Can You Buy Bitcoin with PayPal on Binance?

Answer: No, as of now Binance does not work with PayPal for buying or selling. Binance.us was also recently shut down from dealing with USD in the USA.

Does PayPal offer a bitcoin wallet?

Answer: Yes, PayPal offers a free built-in Bitcoin and crypto wallet. It also supports Ethereum, Litecoin, and Bitcoin Cash.

Does PayPal offer crypto wallet addresses?

Answer: Yes, PayPal offers addresses as part of its built-in crypto wallet.

Does PayPal support business accounts?

Answer: PayPal only supports personal accounts at this time, and not business accounts.

Can I buy bitcoin on Venmo?

Last year, Venmo announced it would be adding Bitcoin and a few other cryptos to its platform.

This allows their 70 million users to buy Bitcoin directly after going through a short verification process.

The interesting thing about Venmo Bitcoin purchases is that users can use their existing Venmo balance to make the buy instantly. However, like PayPal, users cannot withdraw bitcoin from their Venmo wallet.

See our tutorial above, where we downloaded the Venmo app and tested buying crypto. Having used the Venmo app to buy bitcoin, I'm happy to report it's easy to buy and also send to friends.

Compared to buying with PayPal, it is a more smooth process. A co-worker who watched me test also felt the process was quick.

Does PayPal Accept Bitcoin as a Deposit Method?

You can't fund your PayPal account using Bitcoin from within PayPal.

However:

Using an exchange like Coinbase you can sell bitcoins to your PayPal account.

Can you use PayPal to receive money for selling Bitcoin?

Yes of course!

As mentioned above, you can sell cryptocurrencies to Coinbase and receive cash in your PayPal account. This works in the USA and some of Europe. The fee for selling bitcoins to PayPal is 3.75% using Coinbase.

Other Exchanges We Considered

Binance - Binance used to be popular, but now long supports PayPal.

Local Exchanges: We tested local exchanges, but didn't determine that local exchanges had proper scam prevention features in place.