How to Buy Silver with PayPal [2024] | Step-by-Step

Summary: While PayPal doesn’t offer commodity trading services directly through its app, you can buy silver with PayPal by linking your account to a regulated third-party brokerage like eToro. 

Best Precious Metals Broker for Intermediate Traders and Investors

• Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Can you buy silver with PayPal?

You cannot invest in silver directly through the PayPal app. However, you can use PayPal as a funding method to deposit money to a multi-asset investing platform that offers silver trading services such as eToro. 

Simply open an account with eToro and connect your PayPal to it. Then, once you’ve funded your account, you’re all set to purchase silver.

You are not buying physical silver with eToro. Instead, you are investing in silver contracts for differences (CFDs). CFDs are financial instruments that derive their value from the underlying asset (i.e., silver), allowing investors to speculate on its price movements by employing long or short positions without actually owning the asset itself. CFDs are traded on margin, which means brokers loan investors additional funds to enhance the size of their position. 

How to buy silver with PayPal?

The best way to buy precious metals like silver or gold with PayPal is through a regulated multi-asset investing platform like eToro, which provides access to various assets, from equities to cryptocurrencies. 

eToro simplifies the process of investing in silver into a single click and accommodates desktop and mobile trading, enabling you to stay updated with market trends from anywhere. And though silver can be a risky investment, eToro has numerous education tools to support silver trading for all types of traders.

So, how exactly do you buy silver with PayPal using an exchange such as eToro? Let’s delve into the straightforward step-by-step process. 

How to buy silver with PayPal: Step-by-Step

You can get started in minutes with a few simple steps:

Step 1: Create an eToro account and go through verification (personal or company);

Step 2: Type in the amount you wish to deposit;

Step 3: Connect your PayPal to fund your account;

Step 3: Navigate to the commodities markets page, choose ‘silver’ and select ‘trade;’

Step 5: Input the desired cash amount or number of units for your trade; 

Step 6: Review and adjust the stop loss, leverage, and take profit settings; 

Step 7: Click ‘open trade.’

Disclaimer: 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is not intended for US users. eToro USA LLC does not offer CFDs, only real Crypto assets, Stocks and ETFs are available.

Best Precious Metals Broker for Intermediate Traders and Investors

• Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

About PayPal

PayPal (NASDAQ: PYPL) is an online payment system for electronic money transfers. Established in 1998, the company now operates in over 200 countries and supports more than 25 different currencies. PayPal lets users set up an account connected to their bank account or credit/debit card to facilitate secure online payments through a website or a mobile application. In addition to enabling personal transactions, the company operates as a payment processor for online retailers, auction websites, and other commercial clients, levying a fee for these services. 

Silver price today

Best ways to invest in silver

Apart from buying silver coins or bullion, there are various alternatives for gaining exposure to silver:

• Contracts for difference (CFDs): As mentioned above, these financial vehicles do not give you actual ownership of the silver but simply allow you to open positions betting on its price movements;
• Exchange-traded funds (ETF):  If you prefer to avoid the complexities of storing and safeguarding physical silver or participating in the fast-paced and margin-dependent derivatives market, a practical option is to invest in an ETF that tracks the commodity. ETFs provide an opportunity to benefit from the price fluctuations of silver, so the fund’s performance should typically reflect the increase or decrease of silver’s worth (factoring out the fund’s annual fee);
• Silver-related stocks: You can also take advantage of a rising silver market by buying shares in companies that mine silver.

Common mistakes to avoid when investing in silver

Investing in silver can be an excellent way to diversify your portfolio, in addition to offering a safe haven during times of economic uncertainty and potentially acting as a hedge against inflation. However, navigating the silver market comes with its own set of challenges. 

Be sure to avoid these common pitfalls as you venture to silver investments: 

• Not diversifying: Aim to build a balanced and diversified portfolio around your silver investments that incorporate a mix of financial instruments such as stocks, bonds, and cash;
• Market timing: Don’t try to time the market. Instead, opt for a long-term investment approach, like dollar-cost averaging, to lessen the effects of market volatility;
• Investing in unfamiliar territory: Ensure you understand the silver investment options available to you. For example, if you choose to invest in silver mining stocks, it’s crucial to analyze the company’s fundamentals and be aware of any geopolitical and environmental risks linked to its operations;
• Abusing leverage: Margin trading amplifies your risk-to-return ratio and is more appropriate for experienced traders, as silver’s price is notoriously volatile;
• Getting caught in scams: Be wary of scams where sellers may try to sell silver at inflated prices or sell counterfeit products. Prospective investors can benefit from resources like the Commodity Futures Trading Commission (CFTC), which provides guidelines to help identify potential fraudulent schemes; 
• Using sketchy platforms: If you’re trading silver products through an online broker or a similar platform, ensure that the broker is regulated and licensed by the relevant authorities.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy silver with PayPal

Best Precious Metals Broker for Intermediate Traders and Investors

• Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.

• 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.