Binance Coin, or BNB, is a native token of the Binance Smart Chain, one of the largest blockchain networks in the world of cryptocurrency. As such, it is very popular and always in high demand. Today, we are exploring how to buy BNB with PayPal. You would think that using the world’s largest online payment processor to buy cryptocurrency is simple, but there are a few snags you must overcome to do it.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Why Buy BNB with PayPal?
PayPal offers its users a safe and secure platform to make and receive payments online. The speed of transactions is fairly quick, with reasonable fees and secure money storage. It is no wonder many people want to use it to buy BNB with it, as they already use PayPal for many other things. Let’s examine some of the most important advantages PayPal offers.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Safety
PayPal is one of the safest payment platforms on the Internet, with an excellent record when it comes to security. That is why thousands of merchants worldwide use it for their daily operations, assured that their money is in safe hands.
Anonymity
When making a deposit to any crypto exchange using traditional methods, it will appear on your bank or credit card statements, where someone can see it. With PayPal, there is no such risk, as you are the only one who can access your PayPal account and see the transaction history. Similarly, when you sell crypto and want to transfer money to your bank account, it will be recorded. If you use PayPal, you have access to your funds without anyone the wiser.
Speed of Transactions
PayPal can process payments almost immediately within its network, making transactions between its users a seamless experience. Even outside of it, any delay is usually on the receiving end, not PayPal’s. Withdrawing money can be almost instant if your bank supports it.
Excellent User Interface
When designing UI, PayPal’s developers kept it maximally simple and easy to use. For casual users, it is a breeze to use. But despite that, you can find many advanced options under the hood, if you happen to need them.
Support for Various Currencies
PayPal supports all major currencies, so you won’t have any issue finding the one you need. Even if you receive a payment in euros, and need dollars to buy BNB, it won’t be an issue, as you can exchange currencies directly through PayPal.
Superb Mobile App
PayPal’s app is well-designed and easy to use. It works on both Android and iOS and offers full functionality just like the web version.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Where to Buy BNB with PayPal?
Not all crypto exchanges support deposits from PayPal, due to several issues. Some allow P2P transactions, letting you buy BNB from other users directly, but that method has some severe safety issues. Instead, we focused on finding crypto exchanges that support PayPal transactions and offer users an option of funding their accounts with them. If you want to know how to buy BNB with PayPal, we have listed your best options below.
- eToro – Overall Best Option to Buy BNB with PayPal
- Binance – The Largest Crypto Exchange on the Market
- Coinbase – The Best Place to Buy BNB with PayPal for US Citizens
- Webull – Low-Cost Option to Buy BNB with PayPal
- PayPal Crypto App – Buy BNB with PayPal Directly
eToro – Overall Best Option to Buy BNB with PayPal
Under the regulatory supervision of bodies such as FINRA, FCA, FinCEN, and FCA, eToro is one of the safest places to buy BNB with PayPal. Regularly inspected to make sure that its procedures conform with the best practices and customer protection laws, eToro is an excellent choice for crypto trading. The exchange is one of the largest in the world, with more than 25 million registered users. It constantly ranks fairly high based on user experience ratings. To start trading on eToro, you only need to meet the minimum $10 deposit and you are good to go.
One of eToro’s biggest selling points, if not the biggest, is a feature called eToro Copy Trader. It allows inexperienced traders to see the trades of seasoned investors and copy their investment patterns. Not only does it allow them to make some profit, but it is also an excellent educational tool that offers them a glimpse into how veteran traders think and see the market.
eToro’s app is available on both Google’s Play Store and Apple Store and is a great way of staying in touch with your investments and making trades on the move wherever you are.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Binance – The Largest Crypto Exchange on the Market
Binance is the largest crypto exchange in the world by the trade volume, averaging more than $13 billion worth of trades every day. For comparison’s sake, the next on the list is Coinbase, with $2.2 billion. It also boasts the most users and is regularly ranked first by user experience rating. Add in the fact that Binance is the home of Binance Coin and it is easy to see why it is a great place to buy BNB with PayPal.
Binance has a fixed transaction fee of 0.1% on all transactions on the exchange. The easiest way to lower these costs is to use BNB as an exchange currency, in which case fees will be 25% lower. This can potentially save you a lot of money, depending on your trade volume.
With more than 500 coins listed, Binance has one of the largest offerings on the market. The new coins get listed quickly and you can easily find whichever cryptocurrency you are looking for, regardless of its scarcity.
Binance offers a free crypto wallet to all its users, called Trust Wallet. If you don’t already have one, this is a great opportunity, as you will get a safe way of storing your crypto free of charge and fully incorporated into the crypto exchange.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Coinbase – The Best Place to Buy BNB with PayPal for US Citizens
Coinbase is one of the largest and most respected crypto exchanges on the market. They offer more than 100 cryptocurrencies for trade, plus all their cryptos are insured in case of hackers’ attacks. They also feature a low deposit minimum, making it a great platform for beginners.
Coinbase has an excellent program called Coinbase Earn. Another beginner-friendly feature, it is an educational tool that rewards users for watching educational videos about cryptos and the crypto market. After each series, users take exams to test their knowledge. As a reward, Coinbase will pay them with cryptos. So, if you want to learn more about the ins and outs of cryptocurrencies and get paid in the process, Coinbase is an excellent choice.
Coinbase supports direct PayPal deposits, among other ways of funding your account, including bank transfers, credit and debit cards, ACH transfers, and wire transfers. Each method has a different fee applied, so make sure you check them out before opting for one.
One thing many people complain about is the Coinbase fees, which are somewhat higher than the market’s average. Fees range from 0.5% to 4.5%, depending on the nature of the transaction. One way of lowering them is to opt for Coinbase Pro, a platform intended for experienced users featuring progressively lowering fees. If your daily trading volume exceeds $10 million, Coinbase will wave all transaction costs. Coinbase Pro also offers more trading options, with 81 trading pairs.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Webull – Low-Cost Option to Buy BNB with PayPal
If fees are your major concern about buying BNB with PayPal, Webull is a great choice for you. The entire platform is built around the idea of offering the lowest possible transaction fees to its users. Webull waves all fees on trades, plus there is no deposit minimum, making it a very affordable option for new and inexperienced traders.
Webull has very thin educational support, so we would not recommend it for beginners. There are far superior options available for people just starting and wanting to learn about cryptocurrencies than this platform.
Unfortunately, all that comes at a cost, as Webull’s offer is very poor, especially when compared to bigger crypto exchanges, with just 11 cryptocurrencies listed, Webull has a very limited selection of coins for trade. In addition, many advanced tools are also missing.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
PayPal Crypto App – Buy BNB with PayPal Directly
PayPal, not wanting to be left out of the whole crypto craze, has recently launched a service allowing its users to buy cryptocurrency directly from their app. While this sounds like an excellent integrated solution, it is worth keeping in mind that it is a P2P service, where you buy crypto from other users, not a platform like on other crypto exchanges. All the usual caveats for such transactions apply here, as it is one of the favorite hunting grounds for scammers.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
How to Buy BNB Coin on eToro?
Let’s see what’s the best way to purchase BNB Coin in this step-by-step guide.
Step 1 – Open eToro
To begin, simply open up the eToro website and create your account. You will be asked to input some basic information, such as your email address and password. You can also make things easier for yourself and simply link your existing Facebook or Google account.
Step 2 – Set Your eToro Account
To begin your trading journey, you’ll need to make a small deposit. Depending on your country, you can begin investing for as little as $10! Funding your account is easy since eToro offers various payment options. Some of those include PayPal, Skrill, Neteller, but also credit and debit cards. Choose your preferred method and move on to the next step.
Step 3 – Buy BNB Coin
To buy BNB, simply search for “BNB Coin” or “Binance Coin” in the search bar, located at the top of the page. There will be a “Trade” button next to the first option. Click on it and enter details about your purchase, such as the number of BNB you wish to buy and your preferred method of payment. In just a few moments, you will have BNB on your eToro account.
Step 4 – Finalize the payment
A new window will pop up, where you need to finalize your payment. Input the amount of BNB Coin you wish to purchase, as well as your method of payment (in this case, PayPal). Make sure everything you’ve entered is correct, and you will have BNB Coin in your wallet in a few minutes!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Conclusion
After exploring how to buy BNB with PayPal, we would recommend using eToro as the overall best option, especially considering the safety and the ease of transaction. The platform is suitable for both new and experienced traders and offers plenty of features to satisfy even the most demanding users.