Does PayPal buy bitcoin?

When you’re using PayPal to purchase Bitcoin, we’d say that you don’t technically own it. You’ve instead entered into an agreement with PayPal buying Bitcoin and holding crypto on your behalf. The platform lets you hold, buy or sell cryptocurrencies and take profits or losses on price swings.

Can you buy Litecoin on PayPal?

PayPal users in the US or UK who want to invest in key cryptocurrencies can do so with a click on the PayPal app now. With a single click, you’ll be able to buy, sell or hold Bitcoin, Bitcoin Cash, Ethereum or Litecoin.

Can I use Bitcoin to pay for things?

Another point you’re agreeing to here is about payments. While you can’t use Bitcoin to pay for goods and services directly, you can instantly exchange your cryptocurrency for USD in your PayPal balance to do so. Let’s say you wanted to buy a portable speaker online for $75.

Can I transfer my Bitcoin to another PayPal account?

In the “Crypto on PayPal FAQ” section of the app, the company explains that “the crypto in your account cannot be transferred to other accounts on or off PayPal.” It is a limitation which feels odd, given that this is meant to be an asset you own. You can think of the custodial arrangement as a kind of IOU for your bitcoin.