Coinbase adds support for PayPal in the USA
By Bob Garcia
Popular cryptocurrency exchange Coinbase now supports PayPal. Customers in the USA can now purchase Bitcoin, Ethereum, Litecoin, and Bitcoin Cash using PayPal. Clients who already have a PayPal account will be able to purchase crypto immediately without having to disclose their banking details to Coinbase.
“Buying crypto should be simple and easy. However, moving money in the traditional world of finance can be anything but. ACH and wire transfers can take time and effort, and we know you are expecting faster and more seamless ways to make crypto purchases. Now, you can instantly fund crypto purchases with PayPal in just a few taps,” said Coinbase Product Manager Eddie Lo.
Purchasing crypto with PayPal is as easy as choosing the desired type of crypto, selecting PayPal as the payment method, and then entering one’s PayPal credentials. Like all PayPal transactions, users will be able to choose their funding source or add new debit cards and bank accounts.
Coinbase transaction through PayPal are limited to $25,000 daily and are only available to legal US residents with a PayPal account. The company expect to roll out the payment option to other regions in the coming months. Coinbase presently supports withdrawals to PayPal accounts in the UK, Canada, EU, and US.
PayPal is just one of Coinbase’s payment options. The company lets users buy crypto directly using a debit card, ACH bank transfer, or wire transfer. Coinbase clients should note that PayPal deposits are subject to a 3.99% fee, which is higher than the fees for other available deposit methods.
More information about using PayPal with Coinbase can be found at coinbase.com.