PayPal makes it really easy to buy cryptocurrency like Bitcoin and Ethereum with their PayPal Crypto site. The big question is...should you?
PayPalmakes it really easy to buy cryptocurrency like Bitcoin and Ethereum with theirPayPal Crypto site. Plus, since they are experts at having a secure site withall the normal transactions they do they promote that you can get the samelevel of safety by buying your cryptocurrency through PayPal Crypto. The bigquestion is…should you? In fact, PayPal Crypto can be great for some type ofinvestors and terribly wrong for others. Let's find out where you fit and isbuying cryptocurrency with PayPal Crypto right for you.
ProOf Buying & Selling Cryptocurrency Through PayPal Crypto
- Can get started investing with as little as $1 USD.
- Very secure with the power of PayPal experience behind their Crypto platform.
- Easier process to sign up and start buying cryptocurrency than through a cryptocurrency exchange such as Coin Base and Kraken.
- Able to buy items using PayPal using your crypto coins.
- Designed for those who want to buy cryptocurrency and hold onto it for a longer period of time.
ConOf Buying & Selling Cryptocurrency Through PayPal Crypto
- Limited selection of coins. Just have four coins available, Bitcoin, Ethereum, Litecoin and Bitcoin cash.
- May require some additional paperwork such as IRS forms for USA citizens.
- Not designed for more frequent trading. Does not provide the technical analysis tools that traders require.
- Cannot transfer your crypto to a friend or relative like you could with your own cryptocurrency digital wallet.
- If trading less than $150 at a time PayPal Crypto can be cheaper but can have higher fees after that depending on the alternative cryptocurrency exchange or online broker you are comparing to. Fees can change at anytime to do check for the most current information.
