How to Buy Crypto with PayPal
As mentioned above, Australia’s most trusted and secure digital asset exchange, eToro, accepts AUD deposits via PayPal. Additionally, there are no fees to deposit funds to the platform via PayPal.
Begin trading thousands of assets like Crypto and Stocks with this simple guide:
- Open a free account on eToro and complete the verification requirements.
- Click the 'Deposit Funds' button on the bottom left of your screen.
- Select ‘PayPal’ as your payment method and follow the prompts to deposit AUD.
- Head to the search bar to find and buy your desired Cryptocurrency.
Buying Cryptocurrency Fees
eToro does not currently charge any fees for users to deposit Australian Dollars onto their platform via PayPal. The only fee that is applied to the Cryptocurrency-investing process is the trading fee, which is 1% anytime you buy or sell a token. This is considerably lower than the PayPal platform, which charges a trading fee of 1.5% and a spread fee of 2% - 3%.
Does PayPal allow Crypto Purchases?
Yes, as previously mentioned, PayPal does offer Cryptocurrency directly on its platform but only supports Bitcoin, Ethereum, Bitcoin Cash and Litecoin and charges both a trading and spread fee. A spread fee represents the difference between a digital asset's buy and sell price, which acts as a built-in cost for traders and serves as a source of revenue for the PayPal platform.
PayPal, founded in 1998, is a leading global online payment platform that enables users to make secure, convenient, and swift financial transactions. Widely adopted by merchants and consumers alike, PayPal provides a user-friendly experience that facilitates seamless money transfers between parties while offering buyer protection and fraud prevention measures to ensure trust.
As an essential part of the modern e-commerce ecosystem, PayPal has expanded its services to include credit and debit card processing, mobile payment solutions, and even a digital wallet feature. This innovative fintech giant has garnered significant praise for revolutionising how payments are made and received, continuously striving to improve user experiences.
To conclude, PayPal offers a limited selection of Cryptocurrencies on its platform. Australian investors seeking a broader range of digital assets and lower fees should consider utilising a digital asset exchange like eToro that accepts PayPal deposits. eToro is the most trusted and secure trading platform globally and is regulated by ASIC and registered with AUSTRAC in the country.