The Coinbase cryptocurrency exchange allows its US-based customers to purchase cryptocurrencies by paying with PayPal. Millions of its customers can buy cryptocurrencies worth up to $25.000 daily using their PayPal account.
The above was announced by Coinbase:
“We now offer millions of our customers in the US an easy and fast way to buy cryptocurrencies on Coinbase using their PayPal debit cards and bank accounts.”
“If you already have a PayPal account, you can start trading with Coinbase right away, you do not need to add your bank accounts or Coinbase cards.”
It also clarified that “e-checks and credit cards linked to PayPal may not be used on Coinbase.”
To use PayPal on Coinbase, the user must select PayPal as the payment method when purchasing cryptocurrencies. It will be transferred to a PayPal account login screen and as mentioned we will be able to use up to $25.000 with this account.
In addition to PayPal, users can always use their funds to fund their Coinbase account using their linked bank account, debit cards or even the Coinbase USD Wallet.
Soon, in the coming months, this ability to use the PayPal account to purchase cryptocurrencies from Coinbase, will be extended to other countries. Money can already be withdrawn from Coinbase via PayPal in addition to the US, Canada, the European Union and the United Kingdom.
Remember that PayPal itself offers the ability to buy, sell and hold cryptocurrencies. The company also recently launched a “checkout with crypto” service that allows its users to pay millions of traders with their cryptocurrencies. However, PayPal Terms of Use state that “You may not transfer your cryptocurrencies to another cryptocurrency wallet.” Also, very recently PayPal launched a similar service in the Venmo application.
