Crypto.com is popular for a number of reasons, but chief of those reasons is the massive array of supported coins. With over 250 supported cryptocurrencies, Crypto.com allows investors to build a crypto portfolio with more than just the most popular cryptos.
Funding a Crypto.com account is done through an ACH payment. In this article, we cover the steps to transfer from PayPal to Crypto.com.
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How To Transfer From PayPal To Crypto.com
While you cannot transfer funds from PayPal to Crypto.com directly, you can follow the steps below to execute the transfer.
- Open and verify your Crypto.com account
- Transfer PayPal Funds To Bank
- Link Bank Account To Crypto.com and Transfer Funds
- Purchase Crypto in Crypto.com
Below we provide more details on each of these steps.
1. Create A Crypto.com Account
In addition to offering members over 250 cryptos, Crypto.com also provides a number of benefits such as a metal rewards credit card and the ability to earn interest on your holdings!
If you already have a Crypto.com account, skip to the next step!
If not, here are the steps to open an account:
- Download the Crypto.com app and tap "Sign Up"
- Enter in your email address and accept the terms and conditions if you wish (after reading them)
- Tap "Continue"
- Verify your email address with the verification sent to the email you entered
- In the email, you will need to click on "Login"
- After verifying your email address, you will continue with the account setup
- You will be asked to enter in your phone number and verify it as well
- Finish account setup by submitting your full legal name, copy of your ID, and a selfie
- After submitting your account, you will be notified within 2-3 business days once you have been verified
- After verification, you will need to create a 6 digit passcode
Assuming your information is correct and your images are clear, this verification can be completed in as little as 5 minutes!
2. Transfer from PayPal to your Bank
With a Crypto.com account created, you are ready to move your PayPal funds to your bank. You can do so with the following steps:
- Open the PayPal app on your phone.
- Tap your PayPal balance.
- At the bottom of the screen, tap "Transfer," and then tap "Transfer Money."
- Tap the bank account that you want to transfer money to and then tap "Next."
- Enter the amount of money you want to transfer and then tap "Next."
- Confirm that you want to complete this transaction by tapping "Transfer $X Now."
This transfer can take between 1-3 business days.
If you need to link a bank account to PayPal, you can do so by clicking on the wallet icon in the bottom navigation menu in the app. In the "Banks and cards" section, you will see a + icon. Tap the icon to add a new account. You will simply search for your bank and login to select an account to link.
3. Link Bank Account To Crypto.com
To move your funds from your bank to Crypto.com, you will need to link a bank account. If you already did this while creating your account, then you can skip this step.
- From the home page in the app, tap "Transfer"
- Select "Deposit"
- Choose "Fiat"
- You will need to create a fiat currency wallet. To do so, tap on the + sign where it says "Set Up New Currency"
- Select the currency option that applies to you
- The popup highlights the agreement and terms & conditions. To move forward, check the box that states you understand and tap "Next"
- If you haven't already verified the account, you will need to do so here. This is done by entering in your address, SSN, and photo ID.
- After verifying your account, you will need to go through steps 1 through 3 again and choose your new fiat wallet
- Add your routing and account number after choosing ACH deposit
- Transferring funds from your bank account to your Crypto.com account will vary depending on the bank you have.
With a new fiat wallet set up, you can repeat steps 1-3 to initiate a transfer from your bank to Crypto.com
4. Purchase Crypto in Crypto.com
Now that you have a Crypto.com account with a linked bank account and funds moved, you are ready to purchase crypto in your new account.
Follow the steps below to buy a cryptocurrency:
- On the home page in the app, tap "Trade"
- Next tap "Buy"
- Select the cryptocurrency you would like to purchase
- Next you will need to select how you would like to purchase. Select Fiat wallet, or choose credit card (you will need to add a card in that case)
- Type in the amount of the desired crypto you want. EX. 0.001 Bitcoin.
- Tap "Buy"
- After reviewing the purchase, tap "Confirm"
And that is all it takes!
Transfer From PayPal To Crypto.com: Final Thoughts
Unfortunately, you cannot transfer funds from PayPal directly to Crypto.com. Instead, this transfer requires an extra step of moving funds first to your bank.
While this is an extra step, it is not difficult.
If you want to learn more about Crypto.com, be sure to check out our complete review.