What is PayPal USD (PYUSD)?
PayPal USD (PYUSD) is a US dollar stablecoin issued by Paxos Trust Company. Stablecoins are cryptocurrencies designed to maintain a stable value, often by linking their value to a fiat currency such as the US dollar.
PYUSD is built on Ethereum and Solana, where it can integrate with compatible decentralized applications (dApps), wallets and exchanges.
Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
How to buy PayPal USD in the US
In the Crypto.com App, the core flow is:
- Create an account and complete identity verification.
- Deposit funds.
- Tap 'Buy', search for PayPal USD, enter the amount and tap 'Confirm'.
What payment methods can you use for PayPal USD?
US users can fund their account with options including bank transfer, credit/debit card, Apple Pay, Google Pay or crypto transferred to their wallet.
Depositing US dollars (USD) by Local Bank Transfer can avoid foreign exchange fees when buying PayPal USD.
A linked PayPal account can also be used to top up a USD Account in the App. Crypto.com charges a 1.99% fee for PayPal deposits.
Can you buy less than one PayPal USD?
Yes. You don’t need to buy a whole unit of PayPal USD. US users can purchase fractional amounts from US$1.
