How To Send And Receive Bitcoin With PayPal

PayPal is a service for making online payments that is popular all over the world. Since 2020, it has also worked with cryptocurrencies, allowing you to buy, sell, send and receive digital assets in your account. So, in this guide, we explain in more detail the process of sending Bitcoin and other crypto to PayPal and external wallets.

Does PayPal Support Crypto Transfers?

As we’ve already mentioned, with the PayPal payment service you can make any transactions with cryptocurrency, including transfers. Since the service supported crypto not so long ago, its clients are used to sending their funds with the help of a third party, such as a cryptocurrency exchange. However, now it can be done directly within PayPal itself as long as you are in the US or UK. Transfers in this case are only possible with Bitcoin, Bitcoin Cash, Ethereum, Litecoin and PayPal USD.

We offer you to read more about the features of each option, but before that, it is worth learning about how to get your wallet address and how to receive funds with PayPal.

How To Receive Bitcoin With PayPal?

Receiving Bitcoins or other cryptocurrencies with PayPal is possible only after obtaining a wallet address. PayPal does not provide users with a traditional cryptocurrency wallet address, as some other payment services or crypto exchanges do. Instead, the platform generates an address for a specific transaction and a certain crypto.

Here's how you can get your actual PayPal crypto wallet address step-by-step:

1. Create an account or log in to PayPal.

2. Go to the Finance page and click on your cryptocurrency balance.

3. Click on the icon with two arrows, meaning the transfer and select the "Get" option.

4. Select the crypto you want to receive (for example, Bitcoin).

5. Get your Bitcoin address and the QR code.

6. Copy the address or scan the QR code to save.

The peculiarity of creating a wallet address on PayPal is that it automatically generates a link compatible with the currency's blockchain network. So, if you send Bitcoin Cash coins to a generated Bitcoin address, they will not reach the recipient and will be lost forever. The good side is that once you generate a PayPal crypto address for a particular coin, you will always have access to it. And if you need a wallet for another crypto, you can select the appropriate blockchain network from the selection menu.

How To Send Bitcoin With PayPal?

You can transfer Bitcoin and any crypto to other PayPal accounts, as well as to third-party wallets and exchanges that support the service. Consider that transferring to an external address requires passing account verification. It may take some time.

Otherwise, the process of sending Bitcoin to PayPal is quite simple and fast if you follow the instructions. We have prepared a guide for you:

1. Authorize on PayPal and go to the "Finance" page.

2. Select "Cryptocurrency Balance" or specifically Bitcoin.

3. Click on the arrows, meaning the transfer and select the "Send" option.

4. Enter the Bitcoin address for the transfer by copying and pasting it on the special field or by scanning the QR code, if available.

5. Enter the number of Bitcoins or the dollar amount to send.

6. Double-check the information and click on "Send Now".

Ask the one who receives funds to confirm the receipt, or check your wallet where you sent the crypto to see it was credited. This way, you will be sure you did everything correctly and that the transaction was successful. There is another reliable method of transferring cryptocurrency from PayPal — it is using a cryptocurrency exchange. In this case, the sending will not be direct like the one described above but will be part of a cryptocurrency trade. So, you can sell your Bitcoins on a P2P platform and specify PayPal as the payment address, along with both a Bitcoin wallet and a dollar account. This is a good alternative to transfers between your accounts, as in this case you have the opportunity to receive funds in both crypto and fiat without the need for conversion. Moreover, by working on a P2P platform, you gain trading experience and earn ratings on the exchange, which will be useful for your future transactions.

If the way of transferring funds using a crypto exchange is close to you, try Cryptomus P2P. On this platform you can specify PayPal as a payment acceptance method and trade the most popular and sought-after cryptos on the market, among which are Bitcoin, Ethereum, USDT, Solana, and others. That is the perfect exchange for both crypto-enthusiasts and beginners.

How To Withdraw Funds From PayPal?

The popular method of withdrawing cryptocurrency from PayPal is conversion. To do it, you have to log in to PayPal, go to the cryptocurrency page, and select the conversion option. Then you may choose the crypto you want to convert and the final currency to receive. Enter the number of coins, double-check all the details and confirm the transaction. You'll be able to withdraw the converted currency to a linked bank account, including a dollar PayPal account.

Another option, as with transfers, is to sell your coins on a crypto exchange and get paid in fiat currency directly to your PayPal account or another linked one. If you are a buyer, you can also withdraw the purchased crypto through the exchange to your linked account. If you use a bank account on the crypto exchange, it frees you from the need to additionally withdraw funds from PayPal because they will go directly to the specified address on the exchange.

Limits And Fees For Transfer Crypto With PayPal

When transferring Bitcoin and other cryptocurrencies with PayPal, there are limits for internal and external transfers. For example, the minimum crypto transfer amount for internal PayPal accounts is $0.01 per transaction. As for external transfers to other wallets, the minimum limit differs for each type of coin. For example, the minimum amount for a Bitcoin transfer with PayPal is 0.001 BTC, for Ethereum — 0.01 ETH, and for Bitcoin Cash — 0.1 BCH. So, if you do not have enough crypto to send, you will see an error notification. There is also a maximum Bitcoin transfer limit on PayPal, concerning internal and external transfers separately or in combination, which is $25,000 per week.

Before making transfers, you should also consider the commissions. PayPal does not charge fees for transfers between internal wallets, but you will have to pay fees when transferring to external ones. It is related to a blockchain network fee that varies depending on network congestion. PayPal usually provides an approximate cost of the network fee upon confirmation.

PayPal is a convenient method for Bitcoin and other cryptocurrency transfers, both on the platform itself and using third-party crypto exchanges. The latter option is more familiar to users, so it is often preferred for making transactions. Anyway, if you are a PayPal customer, it will be useful for you to know about all the service options so you can choose the most suitable one for you.

We suggest you study the answers to frequently asked questions, which can also be useful for you when working with cryptocurrencies using PayPal.

FAQ

How To Send Bitcoin From PayPal To Trust Wallet?

To transfer Bitcoin from PayPal to Trust Wallet you have to interact with both services. Here's the algorithm on how you can do it:

Step 1: Log in to Trust Wallet, select Bitcoin from the cryptocurrencies list, click on "Receive" and copy your wallet address.

Step 2: Authorize on PayPal, go to the cryptocurrencies page, and select Bitcoin.

Step 3: Click on the "Send" option, paste your Trust Wallet address in the recipient field, and specify the amount of Bitcoins for transferring.

Step 4: Double-check all the details, make the transfer, and wait for a notification from PayPal about the transaction confirmation.

How To Send Bitcoin From PayPal To Metamask?

Metamask works primarily as an Ethereum wallet, so it does not support Bitcoin transactions directly. To send BTC from PayPal to Metamask, you need to use a crypto exchange.

Let's take a look at how it should be done:

Step 1: Create an account on a crypto exchange that supports both Bitcoin and Ethereum. For example, you can choose from Coinbase, Binance, or Cryptomus. Then copy your wallet address from there.

Step 2: Send Bitcoins from PayPal to the exchange. To do it, go to the PayPal transfers page and enter the exchange wallet address.

Step 3: Exchange Bitcoin for Ethereum, for example, trading one currency for another.

Step 4: Authorize on Metamask, copy the wallet address from the top of the page.

Step 5: Go to the transfers section on the crypto exchange, paste the Metamask wallet address in a special field, enter the amount of ETH, and click on "Send".

Step 6: Wait for the crypto to be credited to the Metamask wallet — the transaction can take from a few minutes to a few hours.

How To Send Bitcoin From Cash App To PayPal?

PayPal does not support the option of directly receiving cryptocurrency from external wallets, so you need to use a crypto exchange to send Bitcoin from Cash App to PayPal. Study this step-by-step instruction to understand the process better:

Step 1: Create an account on a crypto exchange or authorize an existing one, and copy your wallet address.

Step 2: Log in to the Cash App, go to the "Banking" page, select "Bitcoin" and click on the "Send" or "Withdraw" option.

Step 3: Paste the Bitcoin wallet address copied from the exchange into the recipient field and confirm the sending.

Step 4: Wait for the Bitcoins to be credited to PayPal.

Why Can't I Send Bitcoin On PayPal?

You may face problems when you are going to transfer cryptocurrency using PayPal. It can be associated with several reasons. Firstly, you may be in a country or region where crypto transactions on PayPal are not available. Secondly, your account may not be fully or completely verified. Thirdly, your account may have other restrictions, including working with crypto. In this case, you should set up your account to work with crypto during the registration process. And, of course, there just may not be enough funds on your balance to complete the transaction because transfers entail additional fees.

The inability to send Bitcoin on PayPal can also be connected with technical problems with the service or its updates. In this case, you can contact technical support, which will help you solve your problem quickly.