Selling Bitcoins to a Paypal account is a popular way of cashing out Bitcoin.
Two of the most popular exchanges/brokerages in the world support this method, making it an attractive choice.
Depending on where you’re selling Bitcoins to, there may be lower fee options than Paypal. For more information on this, please check out our full guide to selling Bitcoins.
Coinbase is based in San Francisco, United States but serves customers all around the world including Europe, Canada, and Australia.
In order to begin selling Bitcoin for fiat currency, you’ll need to move coins from your wallet into the exchange. This can be done by locating your local deposit address.
Please make sure to send Bitcoin to a Bitcoin address, and no other coin.
Once you have a balance in your Coinbase account, you’ll want to sell them for fiat currency inside your exchange fiat wallet account.
Coinbase gives you two options for this:
Coinbase Pro will incur much lower fees, although it’s fairly difficult to use for beginners.
Once the selling process is done, look for the withdrawal option on Coinbase/Coinbase Pro. Select Paypal and you will receive the respective balance in your wallet!
Please note that Paypal charges around a 3% fee plus $.30 so the amount may appear differently in your Paypal account!
Once this is done, you’ve successfully sold Bitcoins to Paypal!
Bitpanda is another great option for selling Bitcoin into Paypal balance. The method incurs very similar fees and is a very similar process so it comes down to personal preference.
As long as your country is supported by both, whichever exchange you are more comfortable or established with is the one that you should use!
If your Bitcoins are not currently on Bitpanda, you’ll need to move them over to your exchange wallet. Once that’s done, sell whatever balance you’d like to the exchanges fiat wallet.
Bitpanda supports a wider range of fiat currencies than Coinbase which may make it a more attractive option for Europeans.
Once this is done, find the withdrawal option and send the balance to your Paypal account!
The cheapest way to sell Bitcoin for fiat currency is likely via a bank account. We know this is not an option for some, which is why Paypal is a popular option.
However, if you decide to sell Bitcoins to a bank account, both options mentioned in this guide will allow you to do so as well.
Both of these options work great, so it comes down to which one is supported in your country or which you have an account on.
While it’s unclear in some countries, you should be paying taxes on your Bitcoin sales. Each country will have varying rules so it’s vital to consult a tax expert in your area.
Overall, both options mentioned in this guide work well for selling Bitcoin to a Paypal account. Selling Bitcoin’s to Paypal is not the lowest fee method, but still a popular option.