How to buy Bitcoin (BTC) with PayPal from Canada

Nilooka Dissanayake avatar
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Andrew Boyd avatar
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Updated 29 Aug 2022

Lots of crypto exchanges accept PayPal as a way to deposit funds and buy Bitcoin.

You may be here because you want to use PayPal as an intermediary, for example between a credit card that can’t be used to buy crypto and a crypto exchange. If you are, the process is simple. In our guide, we assume that you have already got a PayPal account set up and have linked it to a source of funds such as a bank account, debit card, or credit card.

Read on for our step-by-step guide to buying Bitcoin with PayPal in Canada.

Unsure about what exchange to use?

Where to buy Bitcoin with PayPal

Coinbase

On website

Finty may be compensated when you click on the link.

Highlights

  • Buy, sell, and hold over 250 cryptocurrencies in a beginner-friendly interface.
  • Regulated and publicly listed in the US, offering peace of mind on security and transparency.
  • Auto-invest lets you set recurring buys for dollar-cost averaging.
  • Coinbase Wallet is available for those who want full control of their crypto and NFTs

Pros

  • The interface is clean, simple, and ideal for beginners—one of the easiest ways for Canadians to get started with crypto.
  • Strong focus on security, with 2FA, cold storage, and insurance on custodial assets.
  • You can earn small amounts of crypto through educational mini-courses via Coinbase Earn.
  • Supports Apple Pay and Google Pay, making fiat-to-crypto purchases more convenient

Cons

  • Trading fees are high compared to other platforms—best for small, infrequent buys.
  • No advanced features like futures or margin trading.
  • Limited customer support options, and response times can be slow during peak periods.
Crypto.com

Not available for application via this website

Crypto.com

Highlights

  • Trade 250+ cryptocurrencies with CAD support, including Bitcoin, Ethereum, and altcoins.
  • Use the Crypto.com Visa Card to spend your crypto anywhere Visa is accepted, with tiered cashback and perks.
  • The mobile app offers everything in one place: buy, sell, stake, track, and earn.
  • Strong security setup with cold storage, multi-factor authentication, and real-time monitoring.

Pros

  • Fully supports CAD deposits and withdrawals via Interac e-Transfer or wire, avoiding currency conversion fees.
  • Offers competitive rates for staking and crypto interest on over 30 coins, including stablecoins.
  • Detailed price alerts, real-time charts, and DCA tools help users stay informed and consistent.
  • NFT marketplace lets Canadians explore and collect digital art without leaving the app.
  • Visa Card offers airport lounge access and Spotify/Netflix rebates at higher tiers, depending on CRO stake.
  • Licensed in Canada with regulatory compliance through FINTRAC, giving added confidence

Cons

  • Some card benefits require CRO staking, which may not suit casual users or those focused on liquidity.
  • Crypto.com's platform can feel overwhelming for newcomers due to its many features.
  • Customer service is live chat–only and may take time during high-demand periods
  • Lacks educational resources.

First time buying?

How to buy Bitcoin with PayPal

Step 1: Choose an exchange that accepts PayPal

The first step is to pick an exchange that supports funds being deposited with PayPal. Not every exchange does, but we’ve collated a list of top exchanges that do on this page.

Apart from accepting PayPal, things to consider when comparing exchanges include available tokens, trading fees, fees to deposit and withdraw fiat currency, and the availability of other crypto financial services like having a card that can draw from your exchange balance or the ability to stake tokens you want to hold for the long-term.

Step 2: Complete the verification process

After setting up your exchange account, verify your identity by providing details of your passport, driver’s license, or another form of photo ID.

Every exchange has its own requirements for identity verification. You may be required to upload an image of yourself holding your photo ID so they can be matched up.

Step 3: Decide how much Bitcoin to buy

Bitcoin is known to be a highly volatile asset. Its price is influenced by a variety of factors. Sentiment and confidence are critically important to its price.

Take this volatility into account before making a decision about how much you want to invest. And, as ever, only invest what you can afford.

Step 4: Deposit funds in your exchange wallet

Funding your exchange wallet via PayPal is very straightforward.

The flow may be slightly different between exchanges. For example, on some, you may have to link your PayPal account to your exchange account from account settings. Others may ask you to log into your PayPal account and complete the transaction there, before redirecting you back to the exchange.

Either way, depositing funds into your exchange account with PayPal is not difficult and doesn’t take long to clear.

Step 5: Place an order

Once your exchange wallet has been successfully funded, you can place an order to buy Bitcoin. Most crypto exchanges support various different order types, namely market orders (fast and require very little configuration), trigger orders (use them to buy or sell at a certain price in the future), and recurring orders (buy more periodically).

Step 6: Buy

Complete the order form to buy Bitcoin with PayPal funds.

Still not sure?

Pros and cons

Pros

  • Easy to use. Depositing funds with PayPal is very simple and fast.
  • Flexible alternative. Many people use PayPal as an intermediary so they can use a debit or credit card that blocks crypto purchases.
  • Safe and secure. PayPal provides extra security through end-to-end encryption and helps get your funds back in case of fraudulent activity.

Cons

  • Transaction fees. Depending on how you fund your account, there may be PayPal fees to take into account.
  • Not every exchange supports PayPal. Most of the big exchanges do take PayPal, but many smaller or domestic exchanges do not.
  • Additional exchange fees. Some exchanges may charge a fee to process funds deposited with PayPal.

Extra help

FAQs

How long does it take for funds to transfer using PayPal?

Funds show up in your exchange account instantly after you make a transfer using Paypal.

Can I buy Bitcoin with PayPal anonymously?

Yes, you can use PayPal to buy Bitcoin anonymously on peer-to-peer exchanges.

Can I buy other cryptocurrencies with PayPal?

Yes, you can buy other cryptocurrencies with PayPal. Once your crypto exchange account has been funded, you can buy any of the cryptocurrencies they have listed.

As seen on

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