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You can buy Ethereum with PayPal via eToro. In this guide, we will explain to you exactly how this works.
Things to remember when buying Ethereum with PayPal:
- eToro is one of the best cryptocurrency exchanges that support PayPal deposits.
- All PayPal users have Buyer Protection, which makes buying Ethereum with PayPal extra safe.
- It is also possible to buy Ethereum with PayPal from other people. This is called peer-to-peer trading and comes with risks.
- On eToro you can buy Ethereum without any commission.
How to buy Ethereum with PayPal – Complete Beginners Guide
To buy Ethereum with PayPal at eToro you need to sign up for an eToro account first. eToro is a regulated cryptocurrency broker and exchange.
Once you have signed up for an eToro account, the next step would be to deposit funds into this account. You do this by selecting PayPal as your preferred payment method. It is possible to deposit any amount from a minimum of $100.
When you have deposited funds into your account, you can view the available cryptocurrencies. Ethereum is one of them, but you could also buy XRP, Bitcoin, or Litecoin. You don’t have to worry about a crypto wallet yet, as eToro provides you with one.
Buy Ethereum with PayPal on eToro
Advantages of buying Ethereum with PayPal
Although many investors and traders use debit or credit cards to fund their accounts, there are some significant advantages to using PayPal. We will discuss the advantages of buying Ethereum with PayPal below.
Secure
You should always consider security when it comes to cryptocurrency trading. There are a lot of hackers and cybercriminals who want to steal your cryptos. One of the advantages of buying Ethereum with PayPal is that you don’t need to enter your credit card details. Another advantage is that PayPal offers you ‘Buyers Protection’. This means that they will block any unauthorized transaction from your account.
Direct Deposits
When you buy Ethereum with PayPal on eToro, your deposited funds will appear within seconds in your account. You don’t need to wait a few hours or even days like you would have to do in the case of a wire transfer. If you connect your bank account with PayPal, you can even make direct deposits straight from your bank account. This saves time and allows you to buy Ethereum exactly at the price you want.
No hidden fees
You don’t have to pay any hidden fees whenever you use PayPal to fund your eToro account. Whenever you make a deposit with a credit card, the card issuer will charge you fees. This is beneficial because Ethereum transactions are already quite expensive.
User-friendly
With PayPal, you only need to remember your login details. If you would like to buy Ethereum on the go, you log in to your PayPal account and transfer money from your linked bank account or credit card to your eToro account. If you would want to buy Ethereum with a credit card without PayPal you would have to have the card with you. With PayPal, you connect your credit card once and it will remember the details forever.
Near Instant Withdrawals
Whenever you want to sell your Ethereum via eToro you can withdraw the fiat money (dirham, dollar, euro) almost instantly to your PayPal account. This is convenient because with credit cards and wire transfers you would need to wait. As a general rule of thumb, PayPal withdrawals are almost instant whilst bank transfers take 3 to 5 business days.
Another thing to note is the verification. When you want to withdraw money for the first time from eToro you would have to undergo an ID verification. This isn’t the case with PayPal because you already verified your ID with them. This saves you even more time.
Buying Ethereum with PayPal
If you live in the United States it is possible to buy Ethereum with PayPal from PayPal itself. This has a lot of disadvantages. First of all the fees are too high. PayPal charges a 2% fee for buying Ethereum with them. Then when you have bought the Ethereum, you cannot send it to any other crypto wallet. You can only sell it back to PayPal at some point in the future. When you do this, you have to pay a 2% fee to PayPal again. So, buying Ethereum from PayPal isn’t viable.
Where to buy Ethereum with PayPal?
You can buy Ethereum with PayPal on 4 reliable crypto exchanges being eToro, Binance, Crypto.com, and Coinbase. We recommend using eToro because of its low fees, easy access for UAE clients, and wide range of available crypto assets.
There are few crypto exchanges where you can buy crypto with PayPal because most exchanges are unregulated. PayPal only works with regulated brokers and exchanges.
1. eToro – Best Crypto Exchange for Beginners
Min Deposit: $100
Fees: 4.8
Assets available: 4.8
Total Fees:
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong Take 2 min to learn more
If you are living in the UAE and want to buy Ethereum with PayPal, we recommend using eToro. eToro is very popular in the UAE for several reasons. Via eToro you can buy Ethereum and over 120 other cryptocurrencies within seconds using PayPal.
You can decide whether to keep (hold) your Ethereum on your eToro crypto wallet, trade it for other cryptos, or send it to your own crypto wallet elsewhere. The minimum deposit amount for the UAE users to $100 USD.
One of the features that eToro offers is Copy Trading. This is handy if you don’t have trading knowledge. With this feature, you can copy professional traders and place the same trades as they do from your eToro account. Trading cryptocurrencies on eToro is commission-free, but you pay a small spread on top of the original market price.
Pros
- Easy to use
- Built-in crypto wallet
- Copy trading
Cons
- No advanced trading tools
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong Take 2 min to learn more
2. Binance – Best Exchange For Availability Of Coins and Liquidity
Binance is the world’s largest cryptocurrency exchange. It has the most users and the biggest transaction volume. Binance is popular because of its low fees and advanced features. Binance is not suitable for beginners, but experienced traders can use all the features and tools the platform offers. On Binance traders can trade with leverage, view detailed order book data, and place advanced orders.
Via Binance it is possible to invest in ICOs (Initial Coin Offerings) and NFTs. You cannot do this on eToro yet. We have to note that it is not always possible to buy Ethereum with PayPal on Binance. Sometimes certain payment methods are unavailable due to regulation.
Pros
- Low fees
- Take part in ICOs and NFT trading
- Supports PayPal
Cons
- Not suitable for beginners
- PayPal not always available
3. Crypto.com – Great Choice For Active Crypto Users
Crypto.com is a crypto exchange where you can do much more than buy Ethereum with PayPal. There are over 50 cryptocurrencies you can invest in. You can also take part in crypto staking and earn up to 14% interest per year on your crypto holdings. Another advantage of using Crypto.com is that you can trade NFTs there. You can buy NFTs from $1 and even upload your own created NFTs. Crypto.com charges a 1% fee per trade, which is way higher than eToro and Binance.
Pros
- NFT trading
- Supports PayPal
- Offers staking program
Cons
- Small selection of cryptos
- High fees
- Poor customer service
4. Coinbase – Best Crypto Trading Platform For All Types Of Traders
Coinbase supports PayPal deposits, but only for US residents. There are some workarounds for this, but these are not feasible. There are two Coinbase platforms; the ‘normal’ Coinbase and Coinbase Pro. Both platforms have tools and features for beginner and experienced traders. You can set limits, place different orders and view extensive market data. The fees at Coinbase are very high compared to eToro (4% versus 0,5%).
Coinbase is convenient because it provides users with their own crypto wallet. It also has an app, which you can use to view your current holdings and place trades.
Pros
- Features for beginner and experienced traders
- Crypto trading app
- Regulated crypto exchange
Cons
- No PayPal accepted in UAE
- High fees
How to Buy Ethereum with PayPal on eToro – Step by Step Guide
Buying Ethereum with PayPal is easy via eToro. In this step-by-step guide, we will guide you through this process.
1. Sign up for an eToro account
Create an eToro account by navigating to the website, clicking on the ‘sign up’ button, and filling in your personal details.
2. Verify your ID
When you have filled in your personal details, eToro will ask you to verify your identity. You do this by uploading a photo of your driver’s license, passport, or national ID card.
3. Make a deposit
When your account is verified it is time to make your first deposit. Go to the deposit page and select PayPal as your preferred payment method. Enter how much money you want to deposit. A PayPal pop-up will appear. Follow the on-screen instructions to confirm your deposit.
4. Buy Ethereum with PayPal on eToro
Search for Ethereum or ETH using the search bar. Click the ‘trade’ button and fill in how much you want to invest. Confirm your purchase afterward. You have now bought Ethereum with PayPal.
FAQ
How to buy Ethereum with PayPal in UAE?
You buy Ethereum with Paypal from the UAE via eToro.
Is it legal to buy Ethereum with PayPal in UAE?
No, it is not illegal to buy Ethereum with PayPal in UAE.
Can I sell my Ethereum with PayPal in UAE?
Yes, you can sell your Ethereum on Etoro for fiat money and then withdraw this by PayPal.
Can I buy Ethereum with PayPal in Dirham?
Yes, this is possible via eToro.
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Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…