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How To Buy Crypto With PayPal in Canada 2024
This comprehensive page provides all the vital information on where you can buy cryptocurrencies with PayPal in Canada. We have reviewed the industry-leading exchanges, brokers, and apps to help you identify what works best for you.
The platforms in this post have been shortlisted based on essential parameters like security level, reputation among users, user experience, fee structures, and much more. To save you time, the top three providers for buying crypto with PayPal in Canada are Paxful, LocalCoinSwap, and LocalBitcoins.
How to Buy Crypto with PayPal in Canada: Quick Guide
Below is a quick guide on how to buy crypto with PayPal in Canada. For more information, continue reading through our platform reviews and in-depth guide further down the page.
- Find a reputable exchange: The first step is to find a reputable exchange that accepts PayPal as a payment method. We recommend Paxful or Coinbase.
- Create an account and connect your PayPal: Use your personal details to sign up for the exchange. You may need to provide proof of ID at this stage. You will then be able to connect your PayPal account as the payment method.
- Search for Bitcoin (or other crypto): Use the explore function to search for Bitcoin, or any coin that you wish to purchase.
- Buy Bitcoin: Select ‘buy’ and then enter the amount of Bitcoin that you would like to add to your portfolio. Confirm the order and wait for Bitcoin to appear in your portfolio.
Top Crypto Brokers That Accept PayPal in Canada
Paxful – The Overall Best Platform to Buy Crypto With PayPal in Canada
Established in 2015 by a team of developers, the goal of this platform was to make it easy to acquire cryptocurrencies. With more than 350 payment methods (including PayPal), 10 million users, and a load of top-notch features, Paxful is leading the way and can be considered the overall best platform to buy crypto with PayPal in Canada.
| 💰 Trade Values: | Cryptocurrencies (Bitcoin, Tether, and Ethereum) |
| 📊 Software: | Web Application and Mobile Application |
| 🏆 Demo Account Available: | No |
| 📺 Ease of Use: | Very Good |
| ⭐ Our Rating: | 5.0 / 5.0 |
| 📱 App Available: | iOS & Android |
| 🧩 Regulation: | Not Regulated |
| 💰 Fees: | 0.5% to 1% |
| 🔁 CFDs Available: | No |
| ⚽ Social Trading: | No |
Best Ways to Buy Crypto With PayPal in Canada
Only P2P (peer-to-peer) platforms in Canada are currently accepting PayPal as the deposit method. We couldn’t trace the exchanges or brokers offering the option to buy crypto using PayPal in Canada. Furthermore, you cannot buy crypto directly from the PayPal app as this feature is limited to the US and US territories only.
Best Brokers to Buy Crypto With PayPal in Canada
Currently, brokers in Canada are not accepting PayPal as the deposit method to buy cryptocurrencies.
Best CFD Brokers to Buy Crypto With PayPal in Canada
An alternative way to invest in cryptocurrency is with CFDs (Contract For Differences) issued by brokers. These are derivative products, so you won’t own the underlying asset while still investing in the coin. This also means you cannot withdraw, transfer, or spend your crypto.
However, the CFD brokers in Canada like easyMarkets and FP Markets do not accept PayPal as the deposit method for buying cryptocurrency.
Best Crypto Exchanges to Buy Crypto with PayPal in Canada
Crypto exchanges are platforms that can be used to buy and sell cryptocurrency using FIAT currencies or altcoins. The platform acts as an intermediary to manage the process of buying and selling cryptocurrencies like Bitcoin and Ethereum.
However, the cryptocurrency exchanges in Canada like Coinberry, VirgoCX, Coinsquare, and others don’t accept PayPal as the deposit method to buy cryptocurrency.
How to Buy Crypto With PayPal on an Exchange in Canada
You can buy Bitcoin or altcoins from a wide range of popular exchanges in Canada, which include Coinberry, VirgoCX, Coinsquare, and more. You can initiate your journey by registering a new account with one of these exchanges and completing the KYC verification process.
However, we couldn’t find the centralized cryptocurrency exchanges in Canada offering PayPal as the payment option to deposit CAD into the account for trading or investment.
If you would like to learn more, take a look at our guide on the best Bitcoin exchanges in Canada.
How to Find cryptocurrencies on an Exchange: To find a specific cryptocurrency on an exchange, you will need to navigate to the trading section of the platform and use the search bar to find a specific cryptocurrency. Popular cryptocurrencies like Bitcoin, Dogecoin, Ethereum, and Litecoin can be found at the top of the list of available cryptocurrencies.
Altcoins and Bitcoin
Some altcoins cannot be purchased directly with fiat currencies, but you can buy them with cryptocurrencies like Bitcoin. Therefore, buy Bitcoin as outlined in the steps above and look for the altcoins you wish to buy. Click on the buy button and specify the amount of the altcoin you want to trade for Bitcoin.
If you would like to buy other cryptocurrencies apart from Bitcoin, take a look at the following guide on how to buy Ethereum with PayPal in Canada.
Coinbase – Low Minimums Are Perfect for Beginners
Coinbase allows customers to get started with as little as $2 to start trading. This is perfect for beginners interested in figuring out if cryptocurrency trading is the right game for them without making a significant investment. Also, the platform provides over 200 cryptocurrencies to choose from, which is more than most.
The platform has a simple user interface and makes the process of exchange between cryptocurrencies convenient. Therefore, new users will not have a long learning curve on their first day. However, Coinbase has relatively higher fees than most, ranging from 0% to 0.6%, depending upon the pricing tier.
Can I Use Decentralised Exchanges With PayPal?
First appearing in 2014, decentralized exchanges opened the gates for users to trade cryptocurrencies in a peer-to-peer and non-custodial model without the involvement of any third party. There is no need to complete the registration process to use a decentralized exchange – not even an email address is required to interact with them. All you have to do is connect your decentralized wallet like MetaMask and access a world of opportunities like broadcasting transactions, sending tokens, receiving tokens, and more. Anonymity is one of the core benefits of decentralized exchanges.
Hence, now you can understand why it is not possible to use PayPal directly with a decentralized exchange. You need to store some tokens in your decentralized wallet before you can start using a decentralized exchange. This means you can indirectly use PayPal to buy the crypto and then use the same to fund your wallet before using it with the decentralized exchanges.
Best Crypto P2P Platforms to Buy Crypto With PayPal in Canada
The P2P platforms connect users directly to buy and sell cryptocurrencies such as Bitcoin, Ethereum, USDT, and more. In the table below, you can see the top three P2P platforms:
| Exchange | PayPal Fee (CAD 1000) |
| 🥇 Paxful | $0 |
| 🥈 LocalCoinSwap | $0 |
| 🥉 LocalBitcoins | $0 |
The P2P platforms above were chosen because they have the best reputation in the industry. Also, a wide number of payment methods and coins available on these platforms means you can buy cryptocurrencies other than Bitcoin as well.
LocalCoinSwap – Top P2P Platform for Lowest Fees
LocalCoinSwap is a renowned multi-chain P2P trading platform and has been in business since 2017. One of the key highlights of this platform is that you don’t need to complete the KYC verification; hence, you can stay anonymous if using this exchange to buy Ethereum or any other cryptocurrency.
Buying and selling crypto on this platform is free, but if you’re creating an offer for buying or selling, then a 1% fee for the completed trade shall be charged. Other benefits include 24/7 customer service, escrow security, and more.
Buy Crypto on LocalCoinSwap With PayPal: Step-By-Step Guide
Step 1: Sign up for a LocalCoinSwap account
Click on the blue “Register” button in the top right-hand corner of the homepage. Enter the requested details like email address, password, and country of residence, and click on the Register button.
Once done, you will land on the dashboard and find the two alerts on the top bar requesting the verification of your email address and updating your username.
Step 2: Search for an offer
Search for an offer by adjusting the filters for the cryptocurrency you want to buy, payment method, etc.
Step 3: Inspect offer and confirm
When inspecting an offer, you need to look at the price of the selected cryptocurrency and make sure that PayPal is an accepted payment method. Also, pay attention to the trading history of the seller, verification status, etc. Click on the Buy button once you find a suitable offer.
Step 4: Transaction details
Enter the amount of crypto you want to buy in CAD and press the Buy button.
Step 5: Confirmation & wallets selection
Confirmation to start the trade will appear. Select the wallet to which you want to receive the crypto. It can be either LocalCoinSwap non-custodial wallet or MetaMask (requires browser extension).
Step 6: Complete the transaction
You will be navigated to the Trade page where you can chat with the seller to discuss the essential details regarding the payment. Once the escrow is funded (you will see the message for the same on the UI), transfer the fiat to the seller and the seller will confirm the receipt. The crypto will be released to your wallet from the escrow and the trade will be completed.
Best Apps to Buy Crypto With PayPal in Canada
Mobile apps allow users to buy and sell cryptocurrency from the convenience of their smartphone. Most apps provide the same functionality as you get on the website using a desktop browser. The table below shows the top 3 mobile apps for buying and selling crypto with PayPal.
| Provider | OS | PayPal Fee (CAD 1000) |
| 🥇 Paxful | Web / Android / iOS | $0 |
| 🥈 LocalBitcoins | Web / Android / iOS | $0 |
These providers are the best choice because they have competitive fees, offer a large selection of cryptocurrencies, and are considered safe platforms. Paxful sits top on the shelf because of a large number of payment methods, extensive and diverse users, and top-notch features, including a free Paxful wallet.
Paxful – Top Choice for User-Friendliness
Paxful mobile app has been designed and developed to build an intuitive experience with a short learning curve for beginners. You can expect the same functionalities in the mobile app that are found on the web browser version. You can also wrap an additional security layer by activating the two-factor authentication. However, Paxful could improve as far as the number of cryptocurrencies available to trade on the platform.
Buy Crypto on Paxful App With PayPal in Canada: Step-By-Step Guide
Now, we will share the steps you need to follow to buy crypto on the Paxful App with PayPal. This section is handy for beginners who are trying to figure out how to get started.
Step 1: Download the Paxful app and register an account
Download the Paxful mobile app by visiting Google Play or the App Store, depending on your smartphone’s operating system. Install the app and start the registration process by following the on-screen instructions. You will need to provide your email address, enter a strong password, and click on the Create account button
Note: You will need to enter a 6-digit verification code sent to your email address for user authentication. You will also need to provide your phone number and verify it by providing the 6-digit SMS code sent to your phone..
Step 2: Find an offer
Click on the Marketplace icon at the bottom of the application and set your filters to narrow down the list of offers. For example, you can set the filters where the cryptocurrency you want to buy is Bitcoin, the accepted payment method is PayPal, the country is Canada, and the currency is CAD.
Step 3: Buy Crypto
Find an offer that suits your requirements, click on the same, and enter the amount you will pay in CAD to buy Bitcoin. It is essential to check a few parameters before proceeding ahead with the individual selling the bitcoin. This involves checking the verification status, reputation status, trading history, etc. Press Buy Now and proceed ahead.
After clicking on the Buy Now button, the amount of Bitcoin you are expected to receive shall be transferred into the escrow. This is done for the security of the transaction.
Step 4: Discuss payment details
Discuss the essential details with the seller using the trade chat and follow their instructions carefully regarding the payment.
Step 5: Send the funds
Make the payment and click on the Paid button. After the successful payment, the crypto will be released from the escrow and transferred to your Paxful wallet.
Buy Crypto Directly on the PayPal App in Canada
Customers in countries like the United States can buy crypto directly from the PayPal app without the need for exchanges or brokers. However, this privilege is not available to the residents of Canada.
Can You Buy Crypto With PayPal Credit in Canada?
You cannot use PayPal credit to buy cryptocurrencies in Canada.
Fees For Buying Crypto on PayPal
Although you cannot buy cryptocurrency directly from PayPal app in Canada, It’s important to be aware of the PayPal fees.
| PURCHASE OR SALE AMOUNT | PAYPAL FEE |
| $1.00 – 4.99 | $0.49 |
| $5.00 – 24.99 | $0.99 |
| $25.00 – 74.99 | $1.99 |
| $75.00 – 200.00 | $2.49 |
| $200.01 – 1000.00 | 1.80% |
| $1000.01+ | 1.50% |
Where Can You Use PayPal to Buy Crypto?
Check to see if the country where you live is accepted for buying cryptocurrencies directly on the app.
| Country | Can PayPal Be Used to Buy Crypto |
| Australia | No |
| Canada | No |
| Europe | No |
| Philippines | No |
| UK | No |
| USA | Yes |
What Crypto Can You Buy With PayPal?
Although you cannot buy crypto directly from PayPal in Canada, you can still explore the various coins available for purchase directly within this app to see if your desired ones are on the list.
| Cryptocurrency | Learn More |
| Bitcoin | |
| Bitcoin Cash | |
| Ethereum | |
| Litecoin |
Exchange or a Broker: What Are the Differences When Buying Crypto With PayPal in Canada?
Exchanges and brokers are excellent methods of buying crypto with PayPal in Canada, but there are important differences. We will explore them in the following section to help you determine if the method matches your requirements.
Buying Crypto With PayPal Using an Exchange in Canada
Exchanges are centralized platforms where you can use funding methods like PayPal to purchase crypto.
- Convenient
- Reliable
- Lots of choices
- Many cryptocurrencies available
- Excellent user interfaces
- Hacking possibility
- Transaction charges
- PayPal deposit not available in Canadian exchanges
Buying Crypto With PayPal Using a CFD Broker in Canada
Crypto CFD brokers allow investors to profit from betting on if the price of Bitcoin will increase or decrease over a specified time period. This transaction type does not provide ownership of the asset – it’s purely a speculative transaction.
- No stamp duty
- Low barrier to entry
- Can invest in rising and falling markets
- High leverage
- Investors pay the spread
- Poor regulation
- High volatility
- PayPal deposit not available in Canadian CFD brokers
Is Buying Crypto With PayPal Anonymous?
In most cases, buying crypto with PayPal is not anonymous, as you will learn in the following section.
Can You Buy Crypto With PayPal Without Verification or KYC in Canada?
The majority of methods for buying crypto with PayPal require verification of your identity. This includes buying from the PayPal app, brokers, and exchanges. However, some exceptions like LocalCoinSwap exist that allow you to buy crypto with PayPal without KYC verification in Canada.
Can You Buy Crypto With PayPal Without Registration in Canada?
You will need to register an account with the platforms where you want to buy crypto. For example, platforms like LocalBitcoins have a lengthy registration process and a photo ID verification step before you can buy Bitcoin.
Reason to Buy Crypto With PayPal
When choosing a payment processor to buy crypto, you need to consider the top reasons to figure out the best methods. PayPal is a good choice because it is widely available, there is no deposit fee, and the transaction is processed instantly.
Alternative Payment Options to Buy Crypto With CAD
You might not have access to a PayPal account or dislike the services, so choosing an alternative will be your next step. In this section, we offer a range of alternatives to provide options for everyone.
Buy Crypto With Debit Card, Credit Card, or Amex in Canada
Buying crypto with a debit or credit card also provides instant transaction processing, and they are widely available on most platforms. You can use your debit card to deposit funds on Coinbase and navigate to the spot trading tab to purchase the cryptocurrency of your choice. You can also use Bit2Me to buy cryptocurrencies using a debit card in Canada.
Buy Crypto With Bank Transfer in Canada
Many providers allow customers to deposit fiat currency like CAD using online banking, which is a fast and reliable method of transferring funds. NDAX is an example of a crypto trading platform in Canada that supports bank transfers to buy crypto.
Buy Crypto With PaySafeCard in Canada
PaySafeCard is a good option to buy crypto if you do not have a bank account and want anonymity. No personal information is attached to PaySafeCard purchases, so you can buy crypto without revealing your identity. For example, PaySafeCard is a popular prepaid card that is offered at crypto trading platforms like Paxful.
Buy Crypto With PayPal on Digital Wallets in Canada
Digital wallet services like Neteller, Skrill, and Venmo are convenient and fast methods of depositing money to crypto trading platforms. We couldn’t find cryptocurrency exchanges in Canada accepting digital wallets for making fiat deposits; however, you can use P2P platforms like Paxful that allow you to use your digital wallet like Apply Pay to make the payments.
What to Consider When Buying Crypto With PayPal in Canada
You need to consider a few noteworthy points when buying cryptocurrencies in Canada to ensure you make the right choices. This section will help you set the right expectations during the cryptocurrency buying process when using PayPal.
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Supports PayPal: Before registering an account with the exchange or brokers, look at the available deposit options to ensure PayPal is accepted.
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Fees: Look at the fee structures of various crypto trading platforms to find a competitive service.
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Taxes: You may have to pay taxes when buying and selling cryptocurrencies, depending on your location, so research the local laws. In Canada, file your cryptocurrency activity at the end of the tax year by reporting your capital gains and losses via the Schedule 3 form and crypto income via Income Tax Return T1.
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Safety: After buying cryptocurrency, you need to decide on the best storage location for safekeeping. Consider transferring the cryptocurrency to a cold storage wallet like Ledger Nano X for added security.
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Amount: Cryptocurrencies are volatile, so don’t buy more than you can afford to lose.
How to Sell Crypto Using PayPal in Canada
In this section, we have shared the details of how to sell crypto using PayPal in Canada. The simple process allows users to take money off the platform once they are done trading. In this example, we have used Paxful to sell Bitcoin using PayPal, but you can expect a similar process with other platforms.
Step 1: Navigate to the sell Bitcoin page
Once you have logged into your Paxful account, click on the Sell arrow from the top of the dashboard and select Bitcoin as your preferred cryptocurrency from the dropdown.
Step 2: Set the filters
Set the filters for the cryptocurrency you want to sell, the method in which you want to get paid (e.g. PayPal), offer location, etc. Once done, then click on the Find Offers button at the bottom.
Step 3: Find the offer
After setting the filter, you can browse through the list of filters. It is recommended to sell to buyers having a good reputation and rating. After finding a suitable offer, click on the Sell button located within the offer.
Step 4: Sell Bitcoin
Fill in the amount you want to trade in the fiat currency field or cryptocurrency field. For example, you can enter 100 CAD to receive- this will invite 1% escrow fees, and you will need to have $111.1 CAD (approx.) worth of Bitcoins in your Paxful wallet. Click on the Sell Now once done.
Step 5: Discuss payment details
Discuss the essential details with the buyer using the trade chat and follow their instructions carefully regarding the payment.
Step 6: Send the Bitcoin
Once the buyer has made the payment, click on the Release bitcoin button to transfer the crypto from your wallet to the buyer’s wallet.
Do All Platforms Accept PayPal to Buy Crypto in Canada?
Unfortunately, PayPal cannot be used as a payment method on all cryptocurrency trading platforms. Moreover, we couldn’t find any exchanges accepting PayPal as the deposit method to buy crypto in Canada. However, you can use P2P platforms like Paxful. Check the complete list below.
| Provider | PayPal Accepted | Review |
| Paxful | Yes | Read Paxful Review |
| LocalBitcoins | Yes | Read LocalBitcoins Review |
| Binance | No | Read Binance Review |
| Coinsquare | No | Read Coinsquare Review |
| CoinSmart | No | Read CoinSmart Review |
Should I Buy Crypto With PayPal in Canada?
Some peer-to-peer platforms accept PayPal as the deposit method for buying bitcoins and other cryptocurrencies, but it is not a popular option in Canada. It is recommended to opt for other methods that are cheap, for example, bank transfer.
Can I Buy Any Other Cryptocurrencies With PayPal in Canada?
It depends upon the number of cryptocurrencies available on a platform. For example, Paxful allows users to buy and sell cryptocurrencies like Bitcoin, Ethereum, and Tether with PayPal. Whereas LocalBitcoins allow buying and selling Bitcoin only.
FAQs
Where is the best place to buy crypto with PayPal in Canada?
The top places to buy crypto with PayPal in Canada include Paxful and LocalCoinSwap.
Does PayPal accept crypto as a deposit method in Canada?
No. PayPal accepts crypto as a deposit method only in the United States.
Is it illegal to buy crypto with PayPal in Canada?
You can legally buy crypto using PayPal as the deposit method in Canada from platforms like Paxful.
Can you send crypto with PayPal in Canada?
No. You can send crypto to other PayPal users only in the United States.
Can you store crypto on PayPal in Canada?
No. It is possible to store crypto on PayPal only in the United States.
Can you buy crypto with PayPal under 18 in Canada?
You must be 18 years of age to use any services at PayPal, including the buying of crypto.
Can you buy crypto with PayPal on the blockchain?
PayPal or any other centralized application cannot directly interact with a blockchain network; hence you cannot buy crypto with PayPal directly on the blockchain.
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