How to buy Ethereum with PayPal

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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 $50.

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.

eToro – Best Crypto Exchange to Buy Ethereum with PayPal

etoro-rating

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 at eToro is $50 or 180 AED. 

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

Buy Ethereum at eToro


Binance – World’s Largest Crypto Exchange to Buy Ethereum with PayPal

binance-rating

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

Crypto.com – Crypto and NFT Trading Platform where you can Buy Ethereum with PayPal

crypto.com-rating

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

Coinbase – Largest Regulated Crypro Exchange to Buy Ethereum with PayPal

coinbase-UAE-rating

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. 

How to buy Ethereum with PayPal

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.

How to buy Ethereum with PayPal on eToro

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. 

id-verification-etoro

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. 

Buy 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.


Methodology
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

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