How To Buy Paypal Stock (PYPL)

3 min read | August 22, 2024 10:23 AM EDT | By Team Kalkine Media

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PayPal Holdings Inc. (PYPL) is a leading online payment platform, established in 1998, with a significant global presence and approximately 430 million active accounts. The company has diversified its services in the U.S. to include cryptocurrency trading and buy now, pay later (BNPL) options, though these services are not yet available in Canada. For those interested in acquiring PayPal stock, here’s a streamlined guide on how to proceed.

How to Buy PayPal Stock

Open an Investment Account To purchase PayPal shares, start by selecting a broker and opening an investment account. Brokers facilitate transactions between investors and the stock market, with options ranging from low-fee online brokers to full-service firms offering professional investment management. Choose a broker with low fees and minimal account requirements to get started.
Determine Your Investment Amount Decide how much to invest in PayPal stock, considering these factors:

Overall Budget: Allocate funds separately from emergency savings or short-term goals.
Stock Price: PayPal’s stock price is approximately $82 CAD ($61.24 USD). Consider brokers like Interactive Brokers or Wealthsimple if you wish to buy fractional shares.
Portfolio Diversification: Avoid concentrating investments in one company or sector; diversify across various industries.
Investment Strategy: Choose between a lump sum or dollar-cost averaging approach based on your financial situation and market outlook.

Research PayPal Conduct thorough research before investing. Review PayPal’s financial statements, annual reports, and investor presentations to understand its business model, market position, and future prospects. PayPal’s expansion into cryptocurrency and BNPL services in the U.S. may impact its stock performance.
Place an Order for PYPL Stock Once comfortable with PayPal’s fundamentals, place an order through your broker’s trading platform. Enter PayPal’s ticker symbol (PYPL) and the number of shares or amount you wish to invest. Choose between:

Market Order: Executes immediately at the current price.
Limit Order: Executes only when the stock reaches a specified price.

Consider Currency Conversion Fees and Taxes For Canadian investors buying U.S. stocks like PYPL, currency conversion fees (1% to 4%) apply. Alternatively, consider purchasing Canadian-listed shares and converting them to U.S. shares. Be aware of potential taxes, including a 15% withholding tax on dividends, though RRSPs are exempt from this tax.
Monitor Your Investment Regularly review PayPal’s performance against stock market indices like the Nasdaq Composite Index. This comparison can provide insights into how well PayPal is performing relative to broader market trends. For instance, if PayPal’s stock underperforms compared to the index, it may be worth evaluating the reasons behind this.

How to Sell PayPal Stock

When ready to sell, consult a tax professional to understand potential capital gains taxes. To sell shares, enter PayPal’s ticker symbol and the number of shares you wish to sell on your broker’s trading platform. Select a market order to sell immediately or a limit order to sell at a specific price.

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