Ethereum is one of the most popular cryptocurrencies in the market right now. In fact, in the past couple of months, its popularity has reached an all-time high, as you can see from the graph below.
Now that Ethereum has become so popular, it poses a challenge to Bitcoin, the current reigning king of cryptocurrencies. There are a number of different means by which to buy Ethereum online, via bank transfers, SEPA transfers, and credit/debit card payments.
However, a lot of people find these payment options to be too constricting and they prefer to pay with PayPal. Out of all the cryptocurrency exchange platforms in the market, only a few of them offer the chance to pay with PayPal.
In this article, I’ll show you how to buy Ethereum with PayPal instantly.
What you need to be careful about before buying ETH with PayPal
Why don’t they accept PayPal?
Because it’s risky. PayPal has a feature wherein you can contest any payment and demand a refund. As such, after you make the payment and receive your Ethereum, you can contest a refund as well.
Most platforms want to avoid that, so they don’t allow PayPal use.
As such, the only way to bypass that is to use a peer-to-peer platform. These are cryptocurrency exchange platforms in which buyers can meet sellers directly and strike up a deal. A to lot of sellers accept PayPal payments, and as such you merely have to find them.
The only problem with this is that it poses a greater risk than traditional exchange platforms. If you’re not an experienced trader, you might get duped by a fraudulent seller as well. As such, you should follow all the platform guidelines carefully when you’re buying Ethereum with PayPal.
Comparative Table of 3 Best Places to buy Ethereum with PayPal Instantly
The following are the 3 primary platforms that allow you to buy Ethereum with PayPal instantly. You can compare their specifications and narrow down your options.
|XCoins Review||Minimum 15% ROI.||Okay||Global||Buy|
PART 1: Paxful
Paxful is a p2p trading platform wherein buyers and sellers meet in a neutral ground to exchange cryptocurrencies. All you have to do is find a seller who accepts payment in PayPal. To do so, you’ll have to select the cryptocurrency you want to buy. Once you do, you’ll find a list of sellers along with their accepted payment options and their exchange rate.
You can select the sellers that offer PayPal transactions at a rate you’re comfortable with. You should verify their account carefully to make sure they’re genuine. Once you do, you can pay for the Ethereum. Your money will be stored in an Escrow account and it will only be released to the seller when you receive your Ethereum.
For a detailed step-by-step on how this works, you can watch the following video:
Geographical Availability: Paxful is available across the globe.
Fees: Paxful only imposes a transaction fee on the sellers. You don’t have to pay any fees for buying Ethereum.
Read: Paxful Review
PART 2: LocalBitcoins
LocalBitcoins is a p2p exchange platform similar to Paxful. Since it’s a free-market system wherein buyers and sellers can meet, you can pay for Ethereum using any source. That includes PayPal.
However, you have to be quite careful because there are a lot of fraudulent sellers in these platforms. In order to prevent being duped, you should read all of the guidelines of conducting business in LocalBitcoins and don’t do anything that strays from the guidelines. Furthermore, you should also regularly check the fraud or scam warnings page.
Similar to Paxful, you can enter the amount that you want to buy and then search for all sellers even before you create an account. Once you’ve found a seller of Ethereum that accepts PayPal, you can create an account for free and strike a deal with them. Once you pay the money, it will be kept in an Escrow Account and you can release it once you receive your Ethereum.
You can also check out a step-by-step guide by watching the following video:
Geographical Availability: LocalBitcoins is available across the globe.
Fees: LocalBitcoins just charges a 1% transaction fee on the sellers. The buyers don’t have to pay any transaction fee.
Read: LocalBitcoins Review
PART 3: XCoins
XCoins is one of the most popular bitcoin lending platforms in the market, and it’s the only one that accepts payment in PayPal. The only issue here is that it only allows you to loan Bitcoins by giving in a deposit through PayPal. As such, once you get the Bitcoin, you’ll have to buy Ethereum with Bitcoin or get it converted using platforms like Coinbase or Coinmama.
Furthermore, it’s a bitcoin “lending” platform. As such, you can find lenders who are giving out Bitcoins, and you can select them based on the rate of interest. The lowest rate of interest in the platform is 15%.
If you need a detailed guide on buying Bitcoins with PayPal, you can watch the following video:
Geographical Availability: XCoins is available across the globe.
Fees: The rate of interest charged completely depends on the lenders. However, the lowest ROI allowed by the platform is 15%.
Read: XCoins Review
There aren’t a lot of different options when it comes to buying Ethereum with PayPal. Most platforms don’t allow that option due to the risks involved. However, if you use P2P platforms, such as the ones mentioned above, you can buy Ethereum instantly with PayPal.
My recommendation would be to use Paxful or LocalBitcoins as you can purchase Ethereum directly, and that too without the platform charging you a transaction fee. However, there are a lot of fraudulent sellers on these platforms as well.
If you want to avoid that, you can use XCoins. But in that case you can only take the Bitcoins as a loan, with your fiat currency as collateral. As such, you’ll have to convert the Bitcoins to Ethereum using another platform, and you’ll eventually have to return it as well.