Over the past few years, the interest in cryptocurrencies has skyrocketed. Users are increasingly searching for ways to get involved, and both traditional and newer companies are popping up with solutions. This, along with a rising interest in stablecoins, has resulted in trading being more accessible for a wider audience by allowing for a variety of payment methods and exchange platforms. In this article, we cover if and how you can buy the popular stablecoin USDT with PayPal.
If you’re looking for a platform to stake USDT, we will also introduce some alternative platforms, such as hi, where you can stake USDT and earn up to 11% APY.
Can I use PayPal to buy USDT?
Like many financial technology companies, PayPal has recently deleved into the world of cryptourrencies, offering their users the chance to buy coins such as Bitcoin directly from their platform. Unfortunately, PayPal doesn’t appear to offer USDT on their platform just yet and their selection of crypto coins is limited. However, there are other ways to buy USDT with PayPal.
Some platforms allow you to purchase USDT and other coins using PayPal as a payment method, the same way you may use a credit or debit card. Using PayPal to purchase cryptocurrencies has the benefit of convenience and accessibility, as well as extra security due to PayPal’s end-to-end transaction encryption.
How to buy USDT with PayPal?
There are a few different platforms you can use to purchase USDT using PayPal. In this section, we’re going to focus on guiding you through buying USDT on Paxful, a popular peer-to-peer marketplace. However, the steps will be very similar across the different platforms. If you’ve already got a PayPal account, here’s a step-by-step guide on how to buy tether with PayPal on Paxful:
- Create your free account on Paxful by clicking ‘Register’
- Get ready for trading by verifying your phone number, email, and ID.
- Select ‘Buy Tether (USDT)’
- Under the ‘Pay Via’ section, select ‘PayPal.’
- Choose the currency you want to use to pay for the USDT, then click ‘Find Offers’
- Find a trusted seller who is online, then click ‘buy.’
- Follow the trade instructions to complete the payment. You now own USDT!
Best Place to buy USDT
There is a large variety of other platforms where you can buy USDT. How can you choose? Look no further, because we have picked a few of the alternative platforms that we think are the best for buying USDT.
1. hi
hi is an all-in-one crypto exchange that also offers next-gen mobile banking. With hi, you can buy crypto at true cost via bank transfer, credit card, or other cryptocurrencies. There are a few advantages to buying USDT on hi. You can add currency into your hi account at true cost and 1:1 ratio, with no fees. The platform also allows users to convert USDT to other supported currencies and offers the ability to earn Flexible yield for holding USDT in a hi account at 11% APY with no lockup.
2. Binance
Binance is the world’s leading cryptocurrency exchange, with 2 billion average daily trading volumes and over 1.4 million transactions per second. Binance offers a variety of ways to buy cryptocurrencies, including credit/debit card, cash balance, and peer-to-peer. The platform allows you to pay in a variety of different currencies, as well as enables users to buy other coins using their USDT. Despite being a slightly less user-friendly option, it is a favourite due to its comparably low fees.
3. Coinbase
Coinbase is another well-known and popular cryptocurrency exchange. Coinbase makes it easy to buy, sell, and exchange cryptocurrency using a variety of methods. It’s often compared to Binance due to both platforms’ popularity and is often rated as being far more user friendly than its competitor. However, this convenience does come with slightly higher fees, but if you’re still getting acquainted with cryptocurrency, Coinbase is a good and reliable choice.
4. eToro
eToro is a social investment and multi-asset brokerage company that also allows users to purchase cryptocurrencies (including USDT) from their platform. It’s easy to learn how to trade and invest using eToro and the platform supports a very wide variety of payment methods, including PayPal. The main appeal of buying cryptocurrency via eToro is the simplicity of the process as well as the relatively cheap fees.
FAQs
Is PayPal a crypto wallet?
In short, no. PayPal is an online money transferring company that works by linking your card or bank account to your PayPal account. You can use your account to make purchases, send and receive money, manage your funds, and more. Although you can buy some cryptocurrencies via PayPal, the platform doesn’t replace the security of a traditional cryptocurrency wallet.
Is there a fee to buy USDT on PayPal?
Since it isn’t possible to purchase USDT on PayPal just yet, there are no fees to disclose. However, when using PayPal as a payment method to purchase USDT via an exchange platform, there may be varying fees across different platforms. For example, Paxful charges nothing to buy cryptocurrency, but there is a charge for selling it. We recommend researching your chosen platform to find out more.
Overall, using PayPal to buy cryptocurrencies is a simple and secure way to get involved in the cryptocurrency world. You can purchase some coins directly via your PayPal account, or you can use an external exchange platform to buy USDT and other coins such as hi.