Least expensive way to purchase bitcoins

[zman1000]

What is the least expensive way to purchase bitcoin? 

What is the max amount you can purchase through PayPal?

What are PayPal's fees for bitcoin purchases? 

[sharpiemarker · Accepted solution]

@zman1000 

Fund Crypto purchases with PayPal Cash or Cash Plus balance, or a PayPal-linked debit card or bank account.

There are no transaction fees when buying or selling Crypto with PayPal until 2021, and there are no fees for holding Crypto in your account.

Don’t try to day trade with this. Use a proper exchange for that. This is for casual buying/selling/holding of crypto.

The market value of the Cryptocurrency displayed when a user clicks 'Buy' will be the price you pay. That price will update every few seconds to reflect any change to the market value.

The maximum dollar amount for any single crypto purchase is also $10,000. The maximum dollar amount for weekly Cryptocurrency purchases is $20,000. The maximum dollar amount for purchases over a 12-month period is $50,000.

Once purchased, Crypto bought using PayPal cannot be reversed. You must sell your Crypto assets to receive your money back, and PayPal will not cover any money lost due to price fluctuations.

Price 'spreads' might impact the purchase price.

It's important to understand pricing before making any purchases, and we cannot guarantee our rate.
 
Price spreads are the difference between the highest buy order and the lowest sell order on any exchange. Every purchase or sale of Crypto occurs in a marketplace, and between two entities. The person buying wants the lowest price, and the person selling wants to get the highest price at any point. This creates a gap in their expectations, known as a spread.

For more info about Crypto:

https://www.paypal.com/us/smarthelp/topic/MY_MONEY

Scroll down to “Cryptocurrency”.

[zman1000]

Response mentioned no fees until 2021. What happens in 2021 which is a few weeks away? 

Thank you

zman1000

[Curlymoe]

Glad you mentioned no fees til 2021; hadn't seen that. What do you know about Bitcoin pricing spread when you purchase? If I'm understanding correctly, Paypal makes money on the spread but does not disclose how much. Sounds like you will never be sure about the transaction costs you are paying.  Nondisclosure sounds sleazy to me. Fees matter in any transaction.

"The exchange rate may include an estimated spread of one-half of one percent (0.50%), provided, however, that the actual spread may be higher or lower based on market conditions. We will not separately calculate or disclose the spread we earn on each transaction. By using your Cryptocurrencies Hub, you agree to pay all applicable exchange rates (including spread) and fees."

[BCCap]

Since 12/12/20 it would occasionally not allow me to purchase crypto with PayPal cash balance. I would try it again and it showed up when choosing a funding source. This evening Buying crypto via PayPal or cash balance has not been an option. Does anyone know what’s going on with this? I read the PayPal payment guidelines and it doesn’t address cryptocurrency.