How to Buy Ethereum with PayPal – Tutorial

by Last Updated: Dec 07, 2021

In this tutorial, I’m going to explain step by step how you can buy Ethereum with PayPal. It is also possible to buy cryptocurrencies directly via your PayPal account, but this option is available only for some countries (currently only in USA and UK). So, in this article, I am going to explain a different way of doing it that works when paying with PayPal too.

In brief, you will need to do the following:

  1. Register with a broker
  2. Verify your account
  3. Make a deposit
  4. Search for the cryptocurrency ETH
  5. Buy Ethereum (ETH)

This guide will explain to you how to buy cryptocurrencies with eToro because they accept payments via PayPal. So, to buy Ethereum (or other popular cryptocurrencies like for example, Bitcoin, Ripple, Dogecoin, Cardano, Bitcoin Cash, or Ethereum Classic) you will need to register on the eToro website:

*Highly volatile investment product. Your capital is at risk.

On their website, click on the “Join Now” button. After that, you will need to fill in the registration form and click on the “Create Account” button.


Create eToro Trading Account


Before you start investing, you will need to verify your eToro account. This is required by law, as you will be buying cryptocurrencies in your own name. To verify your account, you will need to upload a legible copy of your ID card, driving license or passport. You will need to take a picture or scan it from both sides. Then you will need to wait a few days until they verify it.

When you will have your account verified, in your eToro control panel, click on the blue button “Deposit Funds” that is located in the bottom left corner in your eToro control panel. Then, you will be able to make a deposit into your account.


eToro Control Panel


Now, enter the amount that you want to deposit into your account and choose a payment option. I’m going to pay with PayPal, but it is also possible to pay with your credit / debit card, via bank transfer, Skrill, or you can use some other available payment methods as well.


eToro Make PayPal Deposit


After that, you will be redirected to PayPal to complete the payment. In case of choosing a different form of payment, you will also need to make the payment differently.

When you have your money deposited into your eToro account, you will be able to invest into Ethereum (or any other cryptocurrency). Just search for the particular currency (there is a search form at the top of your eToro account). I search for “Ethereum” and then click on the blue “Trade” button, and I make my investment.


Buy Ethereum with PayPal


Finally, you will just need to enter the amount of money of your investment, click on the “Set Order” button and that’s it.

About Ethereum

Currently, Ethereum is probably the second most popular cryptocurrency. It is an open-source service that uses the Blockchain technology. It offers possibilities for launching decentralized apps for developers. Even if Bitcoin remains the most popular cryptocurrency, there are still speculations that Ethereum could overtake its position over time. This is indicated by its aggressive growth.


Ethereum Coins


And how is Ethereum different from Bitcoin? The biggest difference is that the time that is needed to create one block of Ethereum is just 12 seconds, while with Bitcoin it is 10 minutes. And that’s a big difference. This allows the miners of Ethereum to mine more Ether.

The founder of Ethereum is a young Canadian with Russian roots, Vitalik Buterin. He started to be interested in cryptocurrencies in 2011, when he was a 17-year-old programmer. He was also a co-founder of the Bitcoin Magazine. In 2014, in a crowdfunding campaign, using which they were selling Ether (Ethereum token) to its members, they raised more than $18 million. In 2015, he founded Ethereum, firstly known as Frontier. Later, Ethereum has divided into two blockchains; Ethereum (ETH) and Ethereum Classic (ETC).


EToro also offers a CopyPortfolios feature that allows you to copy the investments of other people, but I have not tried it yet. If you want to use eToro to buy some cryptocurrencies, you will most likely not need to use it. This feature is more popular in investing into stocks.

Gradually, as time passes by and the value of your investment increases, you can sell your assets. Or, if you are like me, you can hold your investment for a longer time.

The time will show us which direction Ethereum will take next.

Good luck with your investments!


Trezor Crypto Wallet


If you want to keep your cryptocurrencies at a safe place, I recommend that you use the hardware wallet from the Czech company Trezor. Personally, I use it and I have my crypto assets stored there. So, I recommend that you transfer your crypto purchases to this crypto wallet immediately after their purchase. It is the safest way of keeping them because they are stored offline on a hardware device.

*eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

Guide on How to Buy Cryptocurrencies

Expert in web technologies since 2007 and in crypto since 2017. When I’m not building a website, I’m probably learning Italian or am riding my bike. You can read more about me here.