How to trade Bitcoin using PayPal

PayPal is a super convenient way to pay.  It links to your bank account or credit/debit card and allows you to pay for things instantly.   It's also a super easy way to receive money from people.    But there aren't many places that allow you to fund your bitcoin trading account with PayPal.

Trading Bitcoin on eToro

On eToro you can trade Bitcoin as well as a number of other cryptocurrencies including Ethereum and Litecoin.  When you buy Bitcoin through eToro, they act as the custodian.   This allows you to open and close Bitcoin positions instantly.  They also let you short bitcoin/sell bitcoin if you're looking to profit from falling markets.

eToro supports a number of payment methods including PayPal.  PayPal deposits are instant and you can start trading with the deposited funds right away.

How to trade Bitcoin with PayPal:

  1. Sign up for a free eToro account here -( Disclaimer: 67% of retail CFD accounts lose money)
  2. Verify your account.  Every account needs to go through a quick verification process to comply with regulations.
  3. Deposit via the cashier page.  There is a first time minimum deposit of $200.  After that you can deposit as little as $50 via PayPal.
  4. Buy bitcoin!

Fees on eToro

You don't pay any commissions or fees to open trades.  Instead you are a charged a spread.  This is the difference in price between the bid and ask prices.  The spread is common on forex trading and cfd trading platforms – so if you've used those before you'll be familiar with how a spread works.

Interface on eToro

One of eToro's biggest selling points is it's interface.  Trading bitcoin on exchanges can be very confusing.  Even though I've been trading for years, I've found the interface on some exchanges to be near impossible.  eToro has put together a thoughtful and easy to use interface that anyone can use.

CopyTrading on eToro

eToro has a unique copytrading feature that lets you copy the trades made by more experienced traders.  Let's face it, trading Bitcoin can be tricky.  On eToro you can copy experienced crypto traders and whenever they make a trade, your account will automatically make that trade too.

Trading other assets

As well as Cryptocurrency you can also trade forex, stocks, commodities, ETFs and more.  It's great to be able to trade Bitcoin alongside more traditional markets.

Look out for more Cryptocurrency features from eToro

eToro recently launched a mobile wallet for cryptocurrency.  And they are major backers of a new cryptocurrency called GoodDollar.  I expect eToro will continue pushing hard into cryptocurrency.  They are looking to bridge the gap between cryptocurrency and traditional markets.

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