How to Buy Bitcoin with PayPal Instantly

CEX.IO offers numerous gateways for eligible users interested in buying crypto, including Bitcoin, swiftly and securely. Besides traditionally used funding methods like credit/debit cards and bank transfers, our platform offers a range of alternative payment pathways to accommodate varying user needs and preferences. 

However, as you may already know, the availability of certain payment solutions may differ between jurisdictions. For US-based customers, where bank transfers are unavailable for crypto purchases, CEX.IO offers PayPal as a convenient alternative, allowing users to buy Bitcoin instantly and securely.

Therefore, in this guide, we explore how to buy Bitcoin with PayPal instantly on CEX.IO through a beginner-friendly step-by-step tutorial. 

How to Buy Bitcoin with PayPal Balance at CEX.IO?

The process of buying cryptocurrencies with PayPal on CEX.IO is straightforward and, from our experience, may even be quicker than credit or debit card purchases. Follow this step-by-step guide to acquire Bitcoin with PayPal at CEX.IO:

Step 1 – Register an account

Visit our official CEX.IO website or download our crypto mobile app for iOS and Android from Google Play or App Store to register. Once you access our website (or app), click Create Your Account to start the registration process. 

Then, you need to provide the following information: 

1. Choose your country of residence and state.
2. Enter your email address. 
3. Generate a strong password. 

Once done, accept the terms and conditions and click continue. Next, you receive a confirmation email to the address you provided during registration. Go to your email inbox and click on the confirmation link. 

Step 2 – Identity Verification

The next step includes verifying your identity, which is necessary to comply with AML/KYC regulations. To start, you need to click the Verify Now button, which will prompt you to go to our identity verification page. From there, you need to: 

1. Choose the country you’re currently living in. 
2. Enter a valid ZIP code. 
3. Provide information about your state, city, and street address. 

This is followed by the short questionnaire, where you need to provide the source of your funds. However, keep in mind that this step does not apply to all users, as it depends on your country’s regulations. 

Next, you need to: 

1. Provide your phone number. 
2. Complete the facial recognition check. 
3. Scan your identity documents (ID, passport, or driver’s license). Make sure the document you select is up to date. 

Step 3 – Access Instant Buy

We offer users several ways to fund their accounts through Wallet and Instant Buy functionalities, both of which support PayPal transactions. Instant Buy is our beginner-friendly feature that allows eligible participants to seamlessly acquire Bitcoin and other 200+ supported cryptos they might be interested in using PayPal or other supported methods. 

Here’s how to buy Bitcoin with PayPal instantly through Instant Buy: 

1. Navigate to Instant Buy through the dashboard or find this functionality under the Products menu.
2. Choose your preferred cryptocurrency from the dropdown menu. 
3. Specify the amount of USD you want to spend or choose from pre-selected allotments. 
4. Choose PayPal as your preferred payment method. 
5. Fill in the payment details as prompted on the page. 
6. Review all transaction information. 
7. Complete the payment by following the on-page (or in-app) instructions. 

PayPal Bitcoin Fees and Charges

When using PayPal to buy or withdraw Bitcoin on CEX.IO, there are certain limitations regarding the minimum and maximum amounts you can deposit or withdraw daily. The minimum daily deposit amount for PayPal is $20, which is slightly higher than the $10 required for crypto purchases via cash deposit at MoneyGram (10 USDC). However, it is roughly the same as other popular payment methods such as credit/debit cards, Faster Payments, Google Pay, and Apple Pay.

When it comes to maximum withdrawal limits, PayPal allows a daily deposit cap of $1,000 and a daily withdrawal cap of $10,000. While this is lower than Visa's $50,000 daily withdrawal limit, it is significantly higher than the $2,500 daily withdrawal limit associated with Mastercard.

PayPal transactions also incur fixed fees for both deposits and withdrawals, charging 3.99% + $5 per transaction. This is slightly higher than Epay’s fees (1% + $5 for deposits and 3.99% + $3 for withdrawals) but potentially lower than credit and debit card transactions, which may carry service charges up to 4.99% for both deposits and withdrawals.

For a comprehensive breakdown of PayPal limits and fees, please refer to our Limits and Commissions page.

Pros and Cons of Buying Crypto with PayPal

With over 400 million customers around the globe, it goes without saying that PayPal is one of the most accepted and trusted online payment platforms, offering a seamless and secure way to transfer funds digitally.

However, even with all its bells and whistles, PayPal has some drawbacks when it comes to buying crypto. In the following sections, we explore both the advantages and potential downsides for those looking to buy Bitcoin with PayPal.

Pros of Using PayPal for Buying Bitcoin:

1. Instant transactions 
2. Robust security 
3. Convenient and user-friendly 
4. No need for bank details 
5. Widespread availability 
6. Integrates seamlessly with other payment methods 
7. Chargeback protection for fiat transactions 

Cons of Buying Bitcoin with PayPal

1. Potentially higher fees 
2. Limited crypto withdrawals
3. Transaction limits 

Alternatives to Buying Crypto with PayPal

If buying crypto with PayPal isn’t your cup of tea, CEX.IO offers plenty of alternatives you may find more convenient: 

Buying Bitcoin via Bank Transfer (SEPA, SWIFT, Faster Payments)

For eligible customers, purchasing Bitcoin via bank transfer can be a great alternative. Depending on your location, you can choose between international transfers (SWIFT) or domestic options like SEPA and Faster Payments.

One of the biggest advantages of using a bank transfer is that fees are often lower compared to credit or debit cards. However, processing times can be a bit longer (up to seven days), so this method may not be ideal if you’re looking for instant transactions.

Another perk? Bank transfers aren’t just for buying crypto — you can also sell Bitcoin or even exchange your Bitcoin holdings using these methods, making them a versatile choice for managing your funds.

Buying Bitcoin with a Credit or Debit Card

This is hands down one of the fastest and most popular ways to buy crypto. All it takes is entering your card details and approving the transaction, and you’re good to go. It’s simple, convenient, and widely accepted.

A key benefit of using a credit or debit card is that it supports both buying and selling crypto, giving you more flexibility when managing your digital assets. Keep in mind that while transactions are fast, card payments can come with slightly higher fees compared to bank transfers.

Buying Bitcoin with Cash Deposit or Bitcoin ATMs

For those who value privacy, CEX.IO offers the possibility of purchasing Bitcoin with MoneyGram cash deposits. This feature is available through our Wallet functionality, allowing users to generate an account number and deposit cash at participating MoneyGram locations.

Another lesser-known but viable method is Bitcoin ATMs. While not as widely used, Bitcoin ATMs allow users to deposit cash and transfer funds directly to a crypto wallet. From there, you can easily move your funds to your CEX.IO account if needed. This method does require a bit of technical know-how but might be convenient for those who prefer handling crypto transactions in person.

Buy Bitcoin with Apple Pay

If you’re more into mobile payments, you can also buy Bitcoin with Apple Pay (or Google Pay) at CEX.IO. The process is seamless — just fund your account using Apple Pay and complete your purchase through Instant Buy or our Wallet functionality.

Processing fees for Apple Pay are comparable to credit and debit card transactions, making it a convenient choice. The only downside is that you can’t withdraw funds directly using Apple Pay, so you may need an alternative method when cashing out your crypto.

Where Do I Keep the BTC I Bought?

If this is your first time buying Bitcoin with PayPal or other payment methods, you might be wondering how to keep your crypto holdings secure. You can store your Bitcoin in either a cold wallet (non-custodial) or a hot wallet (custodial) — each with its own benefits.

Cold Wallets (Non-Custodial)

Cold wallets aren’t connected to the internet — hence the name “cold.” They allow you to control your crypto using private keys, meaning you’re fully in charge of your funds. However, keep in mind that external wallets often come with additional costs, which can vary depending on the type you choose. Also, losing your private keys may result in losing access to your funds permanently. 

Hot Wallets (Custodial)

Custodial wallets, like the one you receive for free at CEX.IO, are user-friendly and easier to manage than their non-custodial counterparts. Since they’re always connected to the internet, you get instant access to your funds, making them perfect for beginners, frequent traders, or those handling smaller transactions.

With a free CEX.IO custodial wallet, you don’t have to worry about managing private keys yourself — we take care of that for you. This provides peace of mind, allowing you to focus on trading or simply exploring the world of crypto without the added stress of security management.

FAQ

What is the quickest way to buy Bitcoin at CEX.IO?

The most straightforward way to buy Bitcoin is through Instant Buy. This service is tailored to beginners and allows eligible customers to obtain crypto at the current market price with different payment methods, including PayPal. 

Is it safe to buy BTC with a card?

Yes, purchases with credit and debit cards are generally considered to be safe. When it comes to transactions on our platform, CEX.IO is secured by the level 1 PCI DSS certification, meaning your card details are being stored on a secure server. 

Can I use a prepaid card on CEX.IO?

Yes, you may use a prepaid card to obtain crypto at CEX.IO. However, we generally don’t recommend this method, as users may find it challenging to confirm the transaction. 

Where do I check the BTC price?

Our cryptocurrency prices page is a valuable resource for those looking to observe BTC’s real-time value. In addition, our page offers insights into BTC’s current market cap and 24-hour price movements. For a more comprehensive price overview, we recommend visiting Spot Trading. 

How much BTC can I get for $100?

The exact amount of Bitcoin you can get for $100 constantly changes due to crypto market volatility. The best way to check the current rate is by using our Bitcoin calculator, which provides real-time conversion based on the latest prices.

Can I buy BTC with other crypto?

Yes, those interested in buying BTC with other cryptocurrencies can explore Spot Trading. Here, you can find a plethora of trading pairs, including ETH to BTC and DOGE to BTC. We encourage users to explore our Spot Trading platform and find the pair that best suits their needs. 

How to withdraw Bitcoin to PayPal?

To withdraw Bitcoin with PayPal, you need to first log in to your CEX.IO account. Then, navigate to the CEX.IO Wallet. Choose Bitcoin as the cryptocurrency you want to cash out and click Withdraw. Finally, select PayPal as the destination to which you want to withdraw your BTC. 

How to send Bitcoin from PayPal to another wallet?

To transfer Bitcoin from PayPal to another wallet, log in to your PayPal account and navigate to the Finances tab. Select your crypto balance, then tap Send. Enter the recipient’s crypto address, specify the amount you want to transfer and confirm by clicking Send Now.