In June, PayPal revealed for the first time its intentions to roll out the buying and selling of cryptocurrencies on Venmo and PayPal to its 325 million users as early as 2020. However, there are already a handful of ways to buy Bitcoin (BTC) with PayPal, and most of them are pretty expensive. The first two options are Paxful and LocalBitcoins, both peer-to-peer (P2P) exchanges with hundreds of payment types; fees range from 7-15% and up. The third option is Crypto.com, which will require you to verify ownership of the account by confirming two small deposits into your PayPal account. The fourth option is eToro, who doesn't allow you to buy real cryptocurrencies, but you can bet on crypto prices. They let you fund your account using a variety of e-wallets such as PayPal, Skrill, and Neteller. The fifth is xCoins.io, who allows you to borrow or lend Bitcoin using many payment options like PayPal, credit card, ACH or e-check (high fees). Sixth, you can buy Bitcoin on Coinbase by connecting your PayPal account, beginning in November. Depending on country of residence, customers can either withdraw cash to PayPal or sell their crypto to their PayPal account. Seventh, PayPal users in Europe can use bitFlyer Europe to buy and trade Bitcoin and other cryptocurrencies; bitFlyer is an exchange based in Japan with offices in Europe and blessings from PayPal. Eighth, Wirex, creators of the famous Wirex Card. Ninth, Cex.io. Tenth, VirWox. As a bonus (#11), perhaps the fastest, cheapest and most trusted way to buy Bitcoin with PayPal is by asking one of your crypto friends to do a P2P trade—you send PayPal, they send BTC, end of transaction. Last year, we at Redeeem stopped accepting PayPal deposits for cryptocurrency due to chargebacks.

Redeeem (Sept 21, 2020)