How to Buy Cardano with PayPal [2023] | Step-by-Step

Summary: PayPal does not allow buying Cardano (ADA) directly through its platform, as this option is reserved for four other tokens only. To buy Cardano with PayPal, you will require the services of a third party – a credible and regulated multi-asset crypto investing platform such as eToro.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Can you buy Cardano with PayPal?

Buying Cardano (ADA) directly through PayPal’s platform isn’t possible. As of now, the only four crypto coins that PayPal users can purchase in the app are Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), and Ethereum (ETH).

But even when it comes to these four available tokens, buying directly from PayPal isn’t recommended for professional traders looking to make the most profit. The main reason? It’s expensive. Going as high as 1.8% plus the additional spread, PayPal fees are substantially less favorable than most popular cryptocurrency exchanges.

You can get much more out of PayPal if you decide to use it together with a third-party platform. If you buy Cardano with PayPal, the most optimal way is to use it as a deposit and commit a purchase via a trusted and legitimate cryptocurrency brokerage.

How to buy Cardano with PayPal?

Speaking of a reliable third-party platform, the best way to buy Cardano (and many other cryptocurrencies) is by using eToro. This platform is relied upon by more than 25 million users from 100+ countries to buy over 70 different types of crypto coins. With an abundance of crypto trading features, a community of expert traders whose strategies you can copy, and a detailed dashboard with exhaustive analytical tools and charts, eToro is a smart choice for investing in crypto like Cardano.

eToro investing platform. Source: eToro.com

To start buying Cardano with PayPal, you just need to link eToro with your PayPal deposit. This should come in the form of either the fiat currency on your PayPal account, a bank account linked with PayPal, or a linked credit/debit card with enough funds on it for the desired transaction.

How to buy Cardano with PayPal: Step-by-Step

Simply follow the four steps below, and you’ll be able to buy Cardano with PayPal within minutes:

Step 1: Register an account on eToro and perform the process of verification (personal or company);
Step 2: Type in the amount of cash you want to transfer to your eToro account;
Step 3: Connect your PayPal to transfer the fiat currency of choice;
Step 4: Navigate to Cardano on the list of cryptocurrencies and proceed with the transaction.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

About PayPal

PayPal (NASDAQ: PYPL) is an online payment platform that allows its users to execute transactions via the Internet. Often named the most popular money transfer app, PayPal is widely used by millions, either via business or personal accounts. The service offers flexible payment options and it requires only a linked credit/debit card or bank account. Accessed either through Internet browsers or a free mobile app, it is available in over 200 countries and regions.

PayPal’s also known for its transfer speeds (which can be instant with a 1% fee) and advanced security measures. These include data encryption, two-step authentication (2FA), and email confirmations for transactions.

PayPal homepage screenshot. Source: PayPal.com

When it comes to crypto trade, PayPal is open to innovation. Back in June 2022, when PayPal first allowed crypto transfers to external wallets, its CEO said that the move was “the first step away from the fiat-orientated world”.

As we already said, PayPal has gone as far as to incorporate four crypto tokens into its standard currency offer. Suffice it to say, PayPal has both expressed and proved a crypto-friendly attitude.

PayPal crypto policy

While it has been a bit slow to fully embrace cryptocurrency and the world of digital financial assets, PayPal isn’t shy to point out that crypto may just as well be the future of finance – or at least an integral part of it.

Thus, PayPal does not prohibit or discourage crypto investment of any kind. It is fully acceptable for you to buy Cardano with PayPal, at least when it comes to PayPal’s crypto policy.

Note

While PayPal embracing some of the tokens and allowing their direct purchase sounds good, it still doesn’t mean that you should do it. PayPal fees are notoriously high when compared to established investment platforms like eToro. Their fees are much lower, their selection of coins is far more varied, and the various trading tools provide deeper insights and a better trading experience.

How to buy crypto safely

On a global scale, cryptocurrency is still a relatively new technology. While many have adopted crypto coins, the domain of digital financial assets is still volatile, with huge fluctuations in price, lightning-fast changes in ongoing trends, and an influx of newcomers with little to no former experience in trading.

To make matters even less stable, ill-intended users are roaming the Internet looking for carefree traders to scam or insufficiently-protected exchanges to plunder. As with all new markets–especially those with little to no regulation, such as the crypto–the field is filled with dangers for those who are not prepared.

You don’t have to be among those who are not prepared. You can take measures to preserve your safety, maintain your privacy, and above all keep your investments going stably in the right direction.

Make sure you know your crypto: Research first to understand how crypto works and get to know the risks involved;
Access the market from a safe device only: Never trade crypto from shared computers and public Wi-Fi networks. Always use VPN to make yourself a tougher target for hackers and internet hijackers, as well as preserve your identity;
Stick to approved exchanges: Do thorough research on the brokerage or cryptocurrency exchange you are about to buy or sell from to see if they are legit and reputable. Go through their safety policies to see what happens with your funds in case of online breaches. Keep an ear for other users’ reviews – no need to go through others’ bad experiences.
Secure your account and funds: Keep your account secure by registering with strong passwords only and using two-step verification (2FA). Keep your funds safe by using a crypto wallet – hot wallets keep your funds safer online, while cold wallets let you keep your funds in a physical device that you can keep near you. Check our guide on crypto wallets to find out more.
Keep track of your investments: Monitor the market, as it can be highly unstable. Always make sound decisions based on your own observations. Serious crypto trading requires your attention at all times.
Never invest more than you can afford to lose: It is your cash that is on your table and it can be lost at all times. Speculative trading has its hazards: deal only with what you can depart from. Never make these investing mistakes.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Cardano with PayPal:

How to buy Cardano with PayPal?

You can buy Cardano with PayPal by transferring funds to a trusted and licensed third-party cryptocurrency exchange platform.

Does PayPal allow cryptocurrency?

PayPal allows cryptocurrencies and also provides users with direct access to four different crypto coins (BTC, BCH, ETH, and LTC) via the app. However, you have to use a third-party service to purchase Cardano.