In this article, I will show you how to transfer money from PayPal to Binance.
Many individuals, myself included, have found it challenging to transfer funds from PayPal to Binance due to the lack of direct PayPal deposits on Binance.
However, I would like to share a step-by-step approach that I use to deposit funds into my Binance account using PayPal. It should be noted that this method is primarily applicable to individuals residing outside of the United States, as there is a more efficient way for those within the US to transfer money from PayPal to Binance.
Before we can dive deep into the strategy, let’s address a few questions.
Is PayPal supported in Binance?
No, Binance does not support PayPal payments. You can not directly deposit or withdraw money from Binance using PayPal. Additionally, Binance P2P does not support PayPal transactions as well.
However, keep in mind that Binance offers a variety of payment methods, making it convenient for users to fund their accounts. These options include bank transfers, debit/credit cards, e-wallets, and numerous other payment choices accessible through their P2P (peer-to-peer) trading feature.
Does PayPal support crypto?
Yes, PayPal supports four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, it’s worth noting that this feature is currently only available to US-registered users.
US-based users can send and receive crypto from their accounts. They can buy, hold and sell these four cryptocurrencies within their PayPal accounts. Additionally, they can send money to and from crypto exchanges like Binance. For more information, check out this PayPal Crypto FAQ.
If you’re located in the US and looking to transfer funds from PayPal to Binance, start by logging into your PayPal account and purchasing your preferred cryptocurrency. Next, navigate to Binance and obtain a wallet address for the same coin you purchased on PayPal. Lastly, withdraw the cryptocurrency from PayPal and transfer it to the wallet address provided by Binance.
The video below shows you exactly how to carry out the transaction.
Can I transfer from PayPal to Binance?
No, you can not directly transfer funds from PayPal to Binance since Binance does not support PayPal as a payment method.
You will need a third-party website to send money from PayPal to Binance. Check out the step-by-step guide below that walks you through the process.
However, If you are located in the US, transferring money from PayPal to Binance is feasible. Simply buy a cryptocurrency on PayPal, and then withdraw it to your Binance crypto wallet. This process allows you to move funds between the two platforms easily.
Can I link PayPal to Binance?
No, you can not link or add your PayPal account to your Binance account.
How to buy Bitcoin with PayPal
There are a few ways you can use to buy Bitcoin using PayPal.
The first method involves signing up to a crypto exchange that supports PayPal. Once you have registered the account, you can go ahead and buy the Bitcoin and transfer it to where you want it. Here are some crypto exchanges that support PayPal.
- Cex.io
- Coinbase
- Paxful
- Bitstamp
- LocalBitcoins
- eToro
- LocalCoinSwap
Please do your research before using any of the exchanges above because there may be changes in their payment methods. Also, keep in mind that these crypto exchanges are going to have different exchange rates, so pick the one that suits you.
The other method involves using a third-party website. You must first transfer the money from PayPal to another e-wallet that is easy to Buy Bitcoin with. We will discuss this method letter as I will be showing you how I transfer funds from PayPal to Binance.
How to buy Dogecoin with PayPal
To buy Dogecoin using PayPal, follow the same process I have shown above on how to Bitcoin with PayPal.
When buying Dogecoin with PayPal, you may want to buy Tether (USDT) first and then use it to buy Dogecoin since most exchanges still do not support Dogecoin.
How to convert Paypal to Bitcoin
There is nearly no trusted website that you can use to convert PayPal to Bitcoin or Bitcoin to PayPal directly. You may need to follow the steps outlined above in the section; on how to buy Bitcoin with PayPal.
Through my research, I discovered a website that enables users to convert PayPal to Bitcoin and vice versa directly. The website appears to be legitimate and has received positive reviews online.
The site is Magnatus. Although I haven’t personally used this website, it appears to be trustworthy. If you plan on converting a large sum of money, it may be wise to test it out first with a smaller amount.
How To Transfer Money From PayPal to Binance
I have been using the strategy I’m about to show you for the past year now and it has been working perfectly well.
The strategy involves moving money from PayPal to a different payment processor like a bank or e-wallet supported on Binance P2P. I use Airtm for this strategy, but you can use your bank account or any other e-wallet.
For this strategy to work, you must meet these two conditions:
- The wallet or bank account you decide to use must be available on Binance P2P.
- You must be able to transfer funds from PayPal to the e-wallet/bank account.
Once you have met these two conditions, you will be able to transfer money from PayPal to Binance.
Besides Airtm, I have also used Wise in the past, which works perfectly well for this strategy.
How to transfer money from PayPal to Binance using Airtm
If you prefer a step-by-step demonstration of how to carry out the transaction, please follow the instructions provided in the video below.
Step 1: Send money from PayPal to Airtm
- Go to Airtm and create an account if you don’t have one.
- Log into your account and then press add.
- Select PayPal as a payment method.
- Submit a deposit request by filling out all the transaction details such as amount and PayPal email address.
- Once the request has been submitted, a peer will accept the deposit request. Go to your PayPal account and transfer money to your peer’s PayPal account.
- Once the peer confirms that they have received the money, Airtm credits your account.
Step 2: Send money from Airtm to Binance
- Login to Binance and go to P2P trading.
- Select the cryptocurrency you intend to buy (preferably USDT).
- In the payment options section, select Airtm.
- Select a peer to complete the transaction with and enter your transaction details.
- Copy your peer’s Airtm payment details and go to Airtm and send the money to your peer’s Airtm account.
- Once your peer confirms that they received the money, Binance releases the money into your Binance account.
By following all the steps I have shown you above, you will be able to transfer money from PayPal to Binance.
PayPal to Binance fees
Sending money directly from PayPal to Binance is nearly impossible, which makes the process quite expensive.
Regardless of the method you choose to transfer funds between the two platforms, you will have to pay approximately $15 to send $100.
PayPal to Binance deposit
It’s hard to make a direct deposit into Binance via PayPal. Instead, follow the above strategy to deposit funds into Binance using PayPal.
Alternatively, you can use Magnatus to fund your Binance account directly with PayPal. Simply select the cryptocurrency you want to purchase, use the crypto address provided by Binance, and complete the transaction by paying with PayPal.
PayPal vs Binance
PayPal and Binance serve different purposes:
PayPal facilitates digital payments and money transfers in traditional fiat currencies, while Binance is a cryptocurrency exchange for trading and transferring digital assets.
PayPal accepts various fiat currencies, provides strong security measures, and is easy to use. On the other hand, Binance supports a wide array of cryptocurrencies and demands some crypto expertise.
For regular online transactions, opt for PayPal, and for cryptocurrency trading and investment, consider using Binance.
PayPal to Binance: Final Thoughts
Many individuals encounter difficulties when attempting to transfer funds between PayPal and Binance. To assist with this issue, I have compiled this comprehensive guide on how to send money from PayPal to Binance.
The primary method involves using a third-party website, like Airtm, to facilitate the transfer process. By following the guidelines outlined in this article, I hope you should be able to transfer your funds from PayPal to Binance.
Did I miss anything? Let me know in the comment section below.
