DeutschBuy Bitcoin with PayPal: many investors are wondering if this is possible. After all, PayPal does not offer any crypto services in Germany, Switzerland and Austria. Nevertheless, there are some ways to participate in the performance of Bitcoin via PayPal in the DACH region.
Where Can I Buy Bitcoin with PayPal?
We have already tested four crypto trading platforms that allow you to invest in Bitcoin via PayPal. However, there are major differences that you should definitely be aware of.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. Extra: 10 Euro bonus when registering via CoinPro.ch
CFDs and real stocks in a trading platform with free deposits and no conditions - that's XTB.
OKX is one of the largest crypto exchanges in the world and combines numerous functions such as a wallet, staking, futures, margin, and spot trading in a single platform.
Buy Bitcoin with PayPal: the Best Providers at a Glance
But how do the providers just displayed, where you can buy Bitcoin with PayPal, differ? In the following, CoinPro will introduce you to the best providers in detail.
Bitvavo
The European crypto exchange Bitvavo, based in the Netherlands, is something of an up-and-comer in recent times. With high security standards, a large selection of cryptocurrencies and the possibility to earn interest on your own cryptocurrencies via staking. And with this provider, it is also possible to buy Bitcoin with Paypal.
If you want to buy Bitcoin with PayPal at Bitvavo, there is a deposit fee of 2 percent, but trading starts at 0.25 percent of the trading amount. This makes Bitvavo the cheapest provider.
XTB
XTB is a CFD broker where you can buy Bitcoin CFDs via PayPal, but you cannot invest in real Bitcoins. Nevertheless, the trading platform, founded in 2002, is also suitable for beginners to participate in the performance of the largest cryptocurrencies with PayPal. Deposits with PayPal are completely free. The fees for buying Bitcoin vary, but are often in the range of less than one percent. At XTB, you trade with a leverage of 2:1, which means that price changes have twice the impact. Therefore, you should only trade with Bitcoin CFDs if you want to speculate instead of investing for the long term.
Why Buy Bitcoin with PayPal?
There are numerous deposit methods if you want to buy Bitcoin. What exactly is the advantage if a trading platform allows you to buy Bitcoin with PayPal?
Reputability & Security
PayPal is one of the most popular online payment service providers. PayPal is to be classified as a reputable company in such a way that the service is not offered on dubious platforms. So if a company supports PayPal as a deposit method, it usually meets important regulatory basic rules. Anyway, PayPal is a secure payment service provider that has long been established in the broad mass.
No Waiting Time
If you buy Bitcoin via PayPal, you benefit from the immediate execution of your deposit. This means that you do not lose valuable time to invest in Bitcoin. This can be an advantage, especially in heated market situations.
Fees
In contrast to credit card or instant transfer, with which you can also buy Bitcoin immediately, the fees at PayPal are, in our experience, significantly cheaper. For example, Coinbase charges 3.99 percent if you deposit via credit card, Binance at least 1.8 percent. At Plus500 and XTB, all deposits via PayPal are free of charge. Currently, only Bitvavo charges a deposit fee of 2 percent of the invested amount
What Do I Have to Consider if I Want to Buy Bitcoin with PayPal?
As can be seen from the trading platforms mentioned, when buying Bitcoin via PayPal, you must pay particular attention to whether you are buying real Bitcoins or only trading Bitcoin CFDs.
What are Real Bitcoins?
Don’t worry, there are no fake Bitcoins. We are talking about real, virtual Bitcoins when you can transfer them and really own them. This means that you can use the Bitcoin cryptocurrency as intended by Satoshi Nakamoto. If you want to buy real Bitcoins with PayPal, it is important that you do not use a pure CFD broker. At Bitvavo you can buy real Bitcoins with PayPal.
What are Bitcoin CFDs?
Bitcoin CFDs, on the other hand, are only derivative products that reflect the price of Bitcoin. This means that when you buy Bitcoin CFDs, you do not buy (or sell) real BTC, but only speculate on the price of the digital currency. If the price of Bitcoin rises, you win money. However, CFDs are highly speculative and without a hedging of the broker you can lose more money with fast price movements than you invest. That is the great danger.
Should I Buy (Sell) Real Bitcoins with PayPal or Bitcoin CFDs?
If you want to deal with the cryptocurrency Bitcoin technically and also want to use it as a means of payment, only an investment in real Bitcoins is an option for you. It is important that you then also have to deal with the custody of Bitcoins. You are solely responsible for your cryptocurrencies when you buy real Bitcoins.
Bitcoin CFDs are worthwhile instead if you do not want to deal with the Bitcoin custody, which is complicated for beginners. In addition, you should not pursue any intentions with an investment in Bitcoin CFDs to use them technically. Furthermore, Bitcoin CFDs are especially worthwhile if you believe in a falling Bitcoin price. So you can earn money by opening a so-called short position when the price of Bitcoin falls.
It is important that you never underestimate the risks when trading Bitcoin CFDs. So you should especially not trade with leverage if you have not gained experience in this area.
Buy Bitcoin with PayPal: Instructions
In this section, we will show you step by step how you can buy Bitcoin with PayPal.
- Create a customer account at Bitvavo to trade real BTC with PayPal
- Verify your identity
- Make your first deposit with PayPal
- Now start buying or trading Bitcoin
- To withdraw your Bitcoins, you must also verify your wallet address.
Conclusion: where is the Best Place to Buy Bitcoin with PayPal?
When it comes to buying real Bitcoins and not just keeping them on the crypto exchange, Bitvavo is currently clearly the best platform.
Which of these variants is suitable for you depends on what purpose you are pursuing with an investment in BTC. In the future, numerous other trading platforms should support the possibility to buy Bitcoin with PayPal as an investor. In the USA and Great Britain, this is already possible directly via PayPal. In Germany, Switzerland and Austria, you cannot yet buy Bitcoin directly from PayPal.
Find out how you can buy Bitcoin with a credit card
