Buy Ethereum with PayPal
Ethereum is a decentralized public blockchain whose cryptocurrency coin is Ether (ETH). Ethereum’s coin has really gained in value that it is now the second cryptocurrency by market cap. This has seen an increase in demand for ETH as more people invest in it. With so many exchanges and trading sites coming up, PayPal is one of those ways you can buy Ethereum.
In this article, we look at how to buy Ethereum with PayPal.
How do you buy ethereum with PayPal?
To be precise, there are actually no major reputable sites that allow Ethereum PayPal purchases.
However, you can buy Bitcoin with PayPal and then exchange it to Ethereum.
First step: buy Bitcoin with Paypal
Below are the sites that will allow you to buy Bitcoin with PayPal.
Localbitcoins is a very reputable P2P site for bitcoin transactions worldwide. The site allows you to set up a person to person meeting with a prospective seller. Localbitcoins provides escrow services that are useful in case of disputes. No fee is charged.
To buy BTC at Localbitcoins,
- Create an account on the com site
- Login to Localbitcoins
- Go to buy bitcoins
- Select country and payment method (PayPal)
- Select seller from the list given
- Key in the amount of BTC to buy
- Click on SEND REQUEST
- Confirm and follow prompts to complete the purchase
Virwox is one of the popular sites where you can buy your bitcoins. Although Virwox does not allow direct Bitcoin purchases using PayPal, you have the option of buying SLL (second life lindens) which are then viable to exchange for Bitcoins. A fee of 3.9% is charged.
To get Bitcoins at Virwox,
- Register at their site- choose Second Life virtual world
- Activate account as indicated in the email you receive
- Select deposit then PayPal express checkout
- Click Exchange >USD/SLL and then buy
- Click on place order
- And confirm to buy SLL which you can now use to directly purchase BTC
To buy Bitcoins with the SLL, go back to the Exchange page and follow the same process as above. However, instead of USD/SLL choose SLL/BTC.
Paxful is an exchange site that is available in many countries around the world. The site accepts a variety of payment methods including PayPal. A 1% fee is charged.
To buy on Paxful,
- Access the Paxful site
- Create account
- Enter amount and payment method (PayPal)
- Select buy
- Confirm seller information
- Click paid seller button
What is LocalEthereum?
LocalEthereum is an online private marketplace that allows the selling and buying of Ether. The site doesn’t have much reputation and therefore, we cannot completely trust it.
It acts as a peer 2 peer marketplace, similar to Localbitcoins, that people can buy and sell to other people around the world using many payment methods. Can you buy ethereum PayPal at LocalEthereum? Yes, you can.
How does it work?
- When you join Localbitcoins, you get an account that has both public and private keys.
- When you sign in, you decrypt the key that signs you in. this is much like what happens when you sign into blockchain.info.
- Once logged in, you can search and send messages to potential sellers/buyers.
- The process of engaging in a contractual agreement can be completed using the UI.
- The site’s operations are internet –based and accessibility is via the ordinary browser on your PC.
- The site uses cryptography to secure transactions and the messaging protocol.
Second step: exchanging Bitcoins to Ethereum
Below are the best exchanges for Exchanging bitcoin to Ethereum.
Cex.io provides a variety of payment methods for the cryptocurrency. You can buy ETH with bitcoins. To trade ETH/BTC,
- Create an account
- Login and proceed to trade
- Fund account with bitcoins
- Select BTC/ETH and exchange
It is a popular cryptocurrency exchange. BitPanda allows you to get ETH for BTC. This site’s reputation means it is reliable for trading.
- Go to Bitpanda
- Click on exchange
- Enter payment option
- Select ETH/BTC and follow the prompts to complete buy.
Exmo is a trading platform with support from over 200 countries around the world. Good site for experienced traders. It allows the exchange of BTC and ETH. Limits for BTC are set at 0.001 to 200 bitcoins.
Exchanging Bitcoins for Ethereum is available.
- To proceed to exchange, you need to first have an account.
- Login and select trade
- Select cryptocurrency
- Enter exchange pairing BTC/ETH
- Confirm to complete trade
BitQuick is a popular site that provides services in over 50 states in the US. It has a great customer relations team. The site provides for the exchange of Bitcoins with other cryptocurrencies including Ether.
- To access the exchange you must create and verify your account.
- Go to exchange
- Choose cryptocurrency
- Enter BTC/ETH and place order
- Clicks ‘confirm’ to complete the transaction
247exchange is a well-known bitcoin exchange site that is available worldwide. You do not need verification to buy/sell on 247exchange. Transaction fees are very
minimal. You can exchange bitcoin for Ethereum on this site.
- Go to the site address
- Navigate to exchange bitcoins
- Select pair as BTC/ETH and proceed.
Other methods of buying Ethereum
Apart from PayPal and its high fees, you can also get ETH by credit card and Bank transfers.
Buy Ether with your credit card
To buy ETH with your credit card, you will need to fund your account at the exchange site with a credit card.
Various sites will have different steps to follow, but the process is pretty simple.
To buy ethereum with Bank transfer
You can buy ETH with bank transfer on a number of sites that also support Bitcoin.
Pros: Payment method widely acceptable; Cheaper than credit/debit card; Available in SEPA, ACH, SWIFT; Higher limits.
Cons: Slow transactions; Time-consuming; Not many banks approve this.
How to keep Ethereum safe?
What is a wallet?
A wallet is a software or device that receives stores or allows you to send cryptocurrency. There are different types of wallets that offer different capabilities. Ethereum can be kept in a number of special, compatible ethereum wallets. Once you buy Ethereum with PayPal, you should move it from the site wallet to your dedicated wallet.
Trezor is one of the very first hardware wallets to hit the market. Trezor has a special chip that allows it to store ETH securely offline, thus very safe and un-breachable for hackers.
- Supports MyEtherwallet interface
- Lightweight and portable
- Secure and only activates on login
Ledger Nano S is also a hardware wallet. It is among the Ethereum wallets that are affordable out there. This wallet is one of the safest options today.
After you purchase ether with PayPal, it is advisable to use such a wallet to keep the ether offline.
- Private keys
- OLED screen for easy control
This is a web wallet that is quite distinct from most of the traditional web wallets that preceded it. This distinction comes from its ability to allow the user to control it using keys on the desktop. It is less advised to keep your coins online.
- Has a swap facility for BTC/ETH
- Allows for connection to other wallets
- Supports chrome extension
- Smart contract support
This desktop wallet supports several cryptocurrencies including ethereum. The Exodus wallet is the first wallet in the world with an in-built Shapeshift for cryptocurrency exchanging. Since it is a desktop wallet, users will need to stay online when using it. However, security is not compromised since the wallet has a private key. Exodus supports Mac, Windows, and Linux
- Email recovery key
- Privacy support via email
- Backup seed
How To Sell Ethereum To PayPal
One of the best and the most reliable ways to exchange Ethereum to PayPal is to convert the Ether coins to Bitcoin and sell the Bitcoins on exchange platforms such as LocalBitcoins, VirWox for PayPal. To make thing clearer, let’s take the example of Binance and see how you can convert Ethereum to Bitcoin using it.
Step 1: Exchanging ETH to BTC
To do so, first of all, you need to login to you Binance account go to the deposit section and deposit your Ethereum funds. Once the status of the deposit is stated as “Completed”. Once it is “Completed”, click on exchange and see the right-hand part of the page and put in the currency you are willing to exchange, in this case – ETH. Ater choosing the ETH / BTC pair, scroll down a little bit until you see the section that says “Buy ETH” and “Sell ETH”. Go to the “Sell ETH” section, put in the amount of ETH you are willing to sell. As soon as you put in the price, on the left-hand side you can see the prices change according to the amount and the currency pair you want to exchange for. Alternatively, you can click on the “Market” and sell ETH for BTC with market prices. Once you are ready click on “sell ETH” and wait to get your BTC.
Step 2: Selling BTC to PayPal
Afterward, go to the website where you want to sell your BTC. In this example, we will discuss the case of VirWox, which is an exchange that supports PayPal. On the VirWox website, please log in to your account and navigate to “My Account” section and click on “Deposit”. Here you can find “Your current Bitcoin Address”, which you need to copy. Now, go back to Bianance, got to the withdraw funds section, enter the amount of BTC you are willing to send to your VirWox account. Paste your VirWox address and confirm. Your funds should appear n VirWox within a few minutes. Once you get your Bitcoins on your VirWox account you are ready to sell. For doing that please navigate to the “Exchange” section and choose the currency you want to exchange your BTC. Click on the currency pair, go to Exchange BTC to X (the name of the currency you chose), put in the sum of BTC you want to sell in the “I want to sell” section and finally click on “Next”. Click on “Place the order”, click on “Withdraw” and choose PayPal as the method of payment through which you want to receive your funds.
The overall process is not complicated and the websites mentioned above are user-friendly and easy to use platforms. The reason we are suggesting you this method is that it appears to be the most reliable way of going through the Ethereum to PayPal path. There are some ways and platforms that directly support selling Ethereum and receiving funds on PayPal, however, those methods are not reliable enough and the platforms are not very reputable.
To Sum it Up
Ethereum’s value and price predictions mean that it can be a good investment. However, it is volatile as any other cryptocurrency. It’s therefore important to be aware of market trends.
Check our guides section for more informative how-to articles about cryptocurrencies. Thank you and see you next time.