How to Buy and Sell Crypto with PayPal

PayPal recently launched into the cryptocurrency market, now allowing you to buy and sell cryptos via this international payment platform. A boon for fans of Bitcoin and other altcoins who can now access this universe directly from their PayPal account.

But how do you actually go about trading cryptos with the American giant?
Do I need to open a specific account?
What currencies are offered?

In this article, we will answer all these questions to guide you step by step in using PayPal for your cryptocurrency transactions.

Thanks to these detailed explanations, you will know how to buy your first cryptos in a few clicks, store them safely, then resell them just as easily via PayPal. So don't wait any longer to find out how to take advantage of this new PayPal bow on the exciting cryptocurrency market!

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🔰 What is PayPal? How it works ?

PayPal is an American company offering an online payment service system worldwide. The platform serves alternative to payment by check or credit card.

The site operates as a payment method for e-commerce sites, auctions, and other commercial uses for which they receive a fee in return for benefits such as one-click transaction and one-word registration. outmoded.

The PayPal online payment system allows merchants who have an online store to receive credit card payments securely. Customers who purchase from your site can use their credit card without needing to open a PayPal account.

By redirecting your customers to PayPal's secure site, you ensure that the information will be treated confidentially and above all, securely. That's customer service!

THEobjective of Paypal, it is to centralize expenses and money transfers via an online system, which is aimed at individuals as well as businesses. PayPal's other essential activity concerns commerce, because the system allows it to receive payment from its customers in a secure manner.

Paypal now has more than 200 million users and more than fifteen million merchants. With 80% market share, PayPal is undoubtedly the essential leader in online payment. Here's how to create a PayPal account.

🌿 Choice of sales platform

Two types of trading platforms exist: centralized and decentralized platforms.

🚀 Centralized platforms

first crucial decision: on which exchange platform to sell your cryptocurrencies? Centralized marketplaces (bin a France, Coinbase, Kraken, etc.) have the advantage of ease of use with an intuitive interface.

They give access to many buyers and guarantee good liquidity. Fees are reasonable, usually at around 0,5% per transaction. These platforms secure your cryptos and greatly simplify the sale. But they involve giving them ownership of your assets.

🚀 Decentralized platforms

Conversely, decentralized platforms like Uniswap or PancakeSwap do not require you to transfer your cryptocurrencies to them. The transaction is made directly from your wallet to that of the buyer in Peer to Peer via a Smart contract.

So you keep full control. But the user experience is less fluid and the interface often technical. Blockchain transaction fees (gas fees) are high on Ethereum. And liquidity is lower than traditional marketplaces.

🚀 Peer To Peer Sale

Finally, it is possible to sell your cryptos over the counter directly to another individual in cash. This approach "peer-to-peer" present the advantage of simplification : no intermediary, platform fees or fiat conversion.

But trust is essential during the physical transaction. Choose public places and take precautions. Many sites and applications like LocalCryptos or Bisq facilitate secure contact with local crypto buyers. Despite its risks, direct P2P remains an option to consider.

🌿 Or secure your cryptos before the sale?

🚀 Physical wallets

Before selling your cryptocurrencies, you must transfer them to a secure temporary storage location. Physical wallets (hardware wallets) like Ledger or Trezor offer the highest level of security.

Your private keys remain untraceable, protected in a dedicated chip. Impossible to get hacked. You retain full control. Only downside, this offline storage does not allow responsiveness. Allow time to transfer your cryptos from the cold wallet to the sales platform.

🚀 Virtual wallets

Software wallets (hot wallets) such as Metamask or TrustWallet are more risky because they are connected to the internet. But they allow maximum responsiveness to quickly transfer your cryptos where you want.

With the appropriate security measures (secure private key, double authentication factor, whitelisted addresses, etc.), these digital wallets allow correct temporary storage for small amounts and a accès ultra-fast for a transaction.

🚀 Exchange platforms

Some prefer to leave their cryptocurrencies directly on their online exchange account rather than transferring them to an external wallet. This is the most practical way to act quickly on volatile prices.

But it also means entrusting all of its funds to a centralized entity. In the event of a platform hack or abusive account suspension, your cryptos may disappear. This is not recommended for large amounts.

Use your exchange account for active trading, but not as a main vault. “Not your keys, not your coins” as the crypto saying goes.

🌿 Techniques and strategies for selling cryptos

🚀 Cash Sale

The simplest technique is to sell your entire Crypto position for fiat currency in one go: Euros, dollars… This cash sale allows cash out their winnings quickly and definitively.

More pay attention to the timing: selling at the top is highly unlikely. And this brutal strategy takes you completely out of the crypto market. You may prefer to stay partly invested.

🚀 Split Sale

Hence the interest of split selling, in installments, by reading in stages via a DCA (dollar-cost averaging). This strategy allows smooth exposure in time to avoid selling everything at the wrong time.

Set thresholds in advance (1/4 sold at $10, 000/1 more at $4, etc.) and respect them no matter what to de-emotionalize. The DCA optimizes the average exit price.

🚀 Automated selling

For more discipline, you can automate your split selling via bots available on most exchanges. They will mechanically execute your sell orders for you according to predefined rules.

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For example, you can schedule X% of your portfolio to sell each time the price rises by Y%. Or set exact price tiers. Automation forces you to respect your strategy without qualms. Beware, however, of the risk of technical failure of the bot.

🚀 Conversion to stablecoin

Finally, you can choose to convert your cryptos to stablecoins like USDT or USDC rather than fiat currency.

These dollar-indexed cryptos allow you to secure your gains by avoiding volatility, while remaining exposed to the crypto market, with a view to reinvestment.

Buy Crypto Instantly with PayPal on Coinbase

If you already have a PayPal account, you can immediately start transacting on Coinbase.

When you're ready to fund crypto purchases with PayPal, first select the crypto you want to buy, tap the payment method, then tap " Add a payment method to select PayPal.

To buy Bitcoins with PayPal, Coinbase is a very good trading platform for beginner investors. First, deposit money on Coinbase with Paypal has a minimum of just 2€.

So you don't need to have a lot of capital to get started. In addition, the registration is fast and the use is intuitive. We just regret high fees compared to other platforms.

To learn how to buy Bitcoins with PayPal on Coinbase, a tutorial is available below:

Create a Coinbase account: to get started, all you have to do is go to the official website of the platform, then click on “ Get Started » or to indicate your email address then to click on « Start ". You will then be asked for some basic information. Knowing more about creating a Coinbase account.

Proceed to identity verification: Coinbase is required by the KYC procedure to verify the identity of investors present on the platform. You must therefore provide an identity document, be it the CNI or a passport.

Buy Bitcoin with Coinbase : since April 2021, Coinbase has allowed its investors to use this payment method to invest in cryptocurrencies, with a minimum first deposit of 25 euros.

How to buy cryptocurrencies with PayPal on PaxFul ?

Paxful is a peer-to-peer marketplace that lets you buy and sell cryptocurrencies through over 300 payment options. It's like eBay, but for money...and without any limits.

Buying Bitcoin with Paypal on Paxful is ideal for beginners and for buying cryptocurrency directly.

Indeed, as a buyer, you must compare the different offers from sellers, then choose the one that seems to you to be the most attractive. A good point: you can buy Bitcoins with PayPal without commission.

Advantages and disadvantages of a Paxful account

Like any Bitcoin exchange, Paxful has its pros and cons. However, after carefully reviewing the service, we think the pros far outweigh the cons.

Benefits of a Paxful Account

Free: you do not need to purchase a Paxful account. You can enjoy your secure Bitcoin wallet absolutely for free!

Renowned: Paxful is used worldwide, with nearly 5 users and 000 existing wallets.

Profitable: Paxful does not charge any commission fees, increasing the profits sellers can keep.

Trusted third party : Buyers and sellers are protected by Paxful's built-in escrow. If the customer doesn't fulfill their end of the bargain, Paxful automatically cancels the trade.

Disadvantages of a Paxful account

Verification: In order to unlock all trading limits, you need to be verified. Some people may see this as an inconvenience because you have to verify your identity and address, then Paxful will manually review your account (rather than automatic).

Fraud : Sometimes you interact with fraudulent traders on the platform. Fortunately, Paxful has a secure escrow, but if the scammer convinces you to drop the platform, you lose Paxful's protection.

How to buy on Paxful?

After verification by phone, you will be automatically redirected to the announcements page. This is where you will see all of Paxful's business listings. Now you can filter the results using a few different options.

Choose the asset you want to buy, in this case, bitcoin. The same procedure applies to purchasing USDT or Ethereum.

Also choose the payment method and currency you want to use and how much you want to spend as well as the location you want to purchase from. This is automatically set to your current country of residence, but you can change it if it does not favor your search.

Click on the button “Search for offers”. In this case, we are looking for bitcoin sellers worldwide who accept PayPal payment, and we use USD – many others payment combinations are available.

Select an offer that interests you. While the deals are curated with the best prices at the top, you might not like the seller's terms, so you can browse a few lines and pick one you're comfortable with.

When you see one you like, click the " Buy now ". You will see in advance how much bitcoin you will get for the amount you want to spend. The rate is usually slightly higher than the official market rate.

Review the offer and click " Buy now » if the conditions suit you.

How to sell Bitcoin on Paxful?

Step 1: Configure search criteria

Log in to your Paxful account and click " Sell Bitcoin ". The Sell Bitcoins page appears. Click on the “ Show All or Any » payment method and select your preferred payment method for selling bitcoins in the dialog box that appears.

You can also click on " see offers for all payment options » to see the list of all available payment methods. Click Any Currency and select your currency from the list. Enter the amount you want to exchange in the Amount field.

You can leave the Amount field blank if you don't have a specific amount in mind. Select your country from the Location list. Click on " search for offers ". The list of offers is updated according to your search needs.

Step 2: Find an offer

Browse the list of offers. The list begins with offers that have:

Buyers with the best rating and the best reputation.
The most active buyers on the platform and ready for an instant trade.
The most profitable discounts or margins.

Check tags and labels for additional information about an offer. When you find an offer you like, click on " Sell ". Study all the details of the offer such as:

Selling limits — is the amount offered neither too low nor too high?
The buyer's rate – does it seem profitable to you?
Terms of the offer – Is the buyer requesting additional documents or does he have specific requests within the framework of the commercial procedure?
Paxful Fees — these fees depend on the payment method you choose.

Enter the amount you are willing to exchange in the Fiat currency field or the BTC field. Click on " sell now ". In a dialog box that appears, click “ I understand the risk », proceed to the sale of bitcoins.

A new warning dialog box appears. Confirm reading the disclaimer by clicking I have read this disclaimer carefully and accept the risk.

Step 3: negotiation

Discuss the necessary details with your partner using our business chat and follow his instructions carefully.

Once your trading partner has made the payment, click “Freeing bitcoin“. Check if the amount sent to you is correct. Confirm sending BTC to the buyer by clicking Release Bitcoin in a dialog box that appears.

Buy cryptocurrencies on eToro with PayPal

eToro is a trading platform created in 2007. Founded by an Israeli duo, the platform quickly became international; first in the UK, then throughout Europe. It is now present in 140 countries around the world!

To buy bitcoin with PayPal, eToro is in our opinion the best platform, because its fees are low and it is designed for beginners. The commission is in fact 0,75% of the share spread, which makes eToro one of the most attractive platforms for buying Bitcoins with PayPal.

In addition, the use is intuitive and buying crypto is done in minutes. Here is a tutorial for buying Bitcoins with PayPal on eToro:

✍️ Create an account on eToro. The registration form only asks you for brief information before offering to personalize the use according to your investor profile.

(I.e. Verify your identity. You must send the requested documents, namely proof of address less than 3 months old as well as a copy of an identity document (National Identity Card, Passport, etc.).

(I.e. Make a deposit with Paypal. Once your account is validated, you can deposit funds by selecting the corresponding option at the bottom left. Select PayPal and confirm the transaction; the amount is then credited within minutes.

(I.e. Buy Bitcoin with PayPal. In the cryptocurrency search bar, just type “BTC”. You can then choose to invest at the market price or to place an order (a purchase price that will not be exceeded).

🌿 Risks and points of vigilance

🚀 Volatility and Timing

The main risk lies in the inherent volatility in the cryptocurrency market. Prices can move sharply and thwart your meticulous selling plans. It is almost impossible to determine the optimal high point to liquidate everything.

A sudden drop may even force you to panic sell with a heavy loss. To limit this risk, split your sales over time with predefined thresholds. And keep your nerves in all circumstances.

🚀 Security vulnerabilities

The security of your funds remains paramount. A flaw in your wallet or the exchange used can cause you to lose all of your cryptos if you are not careful. Limit the amounts stored on hot wallets or centralized platforms.

Check that no malware has slipped into your devices. And apply classic security best practices: offline private keys, double authentication factor… Your vigilance is worth all the antiviruses in the world!

🚀 Scams of all kinds

Finally, the sale of cryptocurrencies attracts its share of scams of all kinds: fake exchange sites, wallet hacking, scammers... Never communicate your private keys or passwords to anyone.

Scrupulously check the URL of the sites used: many fakes are created to usurp known names. Beware of offers that are too good to be true : no one will offer you to double your capital in 24 hours! Don't trust anyone on the internet. Your vigilance is your best ally.

🌿 Methods to cash out your winnings

🚀 Classic bank transfer

Once the sale has been made, you must collect your winnings in your bank account. The solution most simple is to make a classic transfer from your trading platform to your checking account.

Some exchangers ask to verify your linked IBAN to authorize the transfer. This standard method is suitable for small and occasional amounts. However, it may take a few days depending on your bank.

🚀 Specialized Services

There are specialized services to quickly cash out your cryptos for fiat currency. Neo-banks like Revolut or Wirex offer bank accounts that accept transfers from crypto platforms.

Money is credited within seconds or minutes. You can then transfer at will to your traditional bank account. These modern interfaces greatly facilitate the collection of your cryptos. Fees and commissions remain reasonable.

🚀 Cash Pickup

If you want to have your money completely anonymously, you can opt for a cash withdrawal via dedicated ATMs. More and more brands like Coinstar offer this service: you send your cryptos to a provided address, and then collect tickets anonymously without a banking intermediary.

Useful for small amounts, this method must however respect the legal limits on cash transactions. And distributors remain rare.

FAQ

✔️ Are PayPal fees more expensive than credit and debit card fees?

It appears that using PayPal as a payment method for purchasing Bitcoin is riskier than using other payment methods. This is why the usage fees linked to PayPal can sometimes be higher than those of bank cards.

As PayPal charges little or no transaction fees in your own currency, everything will depend on the platform you use.

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