Can I Buy USDT with PayPal?

Yes, you can purchase USDT with PayPal, but it requires an extra step. PayPal doesn’t directly support Tether transactions. To proceed, transfer your funds from your PayPal account to a trusted cryptocurrency exchange that accepts PayPal deposits. Once your funds are in the exchange account, you can easily buy USDT and other digital assets.

How to Buy Tether (USDT) with PayPal

Buying USDT with a PayPal account is best achieved through an exchange regulated in your jurisdiction that supports deposits. Platforms like Bybit, trusted by over 30 million users and available in 180+ countries, is one such platform that supports instant PayPal deposits to buy and trade USDT and over 1,200 crypto assets.

Here is a simple guide to start buying USDT on Bybit with PayPal:

1. Create an Account: Start by registering on the Bybit website and completing the KYC process.
2. Deposit Funds: Log in and navigate to the 'Buy' section and then find the “P2P” buying section.
3. Select Fiat, Deposit Method and USDT: Choose your fiat currency, PayPal as your deposit method and Tether (USDT) as the token you want to buy.
4. Complete the Purchase: Select the vendor that accepts PayPal deposits for USDT that is verified on Bybit to complete the purchase.

PayPal Fees for USDT

When purchasing USDT with PayPal, several fees may apply. PayPal generally charges a 1% transaction fee, which is higher than typical bank transfer fees. Additionally, you might incur currency conversion costs depending on your chosen currency.

On Bybit, a trusted exchange, the fee for spot trading USDT is 0.1%, with no additional charges for PayPal deposits. However, you will still need to account for PayPal’s 1% transaction fee and any associated currency conversion fees. By comparison, platforms like Coinbase may charge over 1% per transaction.

PayPal Deposit Limits

When purchasing Tether (USDT) with PayPal on cryptocurrency exchanges, there is typically a $1,000 USD limit per 24 hours. Exceeding this limit may prompt PayPal's security protocols, potentially resulting in account restrictions or the need for additional verification. To avoid these issues, it’s advisable to keep your transactions within this limit.

If you require more than $1,000 in USDT, consider spreading your purchases across multiple days.

Will PayPal Support USDT?

As of now, PayPal does not support Tether (USDT). The platform currently focuses on well-established cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and its own PayPal USD (PYUSD). This selection aligns with their payment ecosystem and caters to user demand.

While PayPal hasn't provided specific reasons for excluding USDT, it may be to promote their own PYUSD. The addition of USDT or USDC in the future remains uncertain and would likely depend on PayPal's strategic priorities and evolving market demands.

Bottom Line

To buy USDT with PayPal, you need to use a reputable exchange that supports PayPal deposits, like Bybit. Be aware of transaction fees and daily deposit limits. While PayPal currently focuses on other cryptocurrencies, future support for USDT is uncertain, so it’s important to stay updated on any changes in their crypto offerings.