Coinbase And PayPal Partner To Enable Easier Crypto Purchases

Coinbase and PayPal partner to enable easier crypto purchases which means that all of the exchange’s users can buy crypto with their PayPal accounts so let’s read more in our latest Coinbase news.

The move was announced a few days ago and represents a major signal of the increasing mainstream momentum and acceptance on the market. Coinbase said in a blog post:

“Buying crypto should be simple and easy. However, moving money in the traditional world of finance can be anything but.”

We're now offering customers in the US a simple and speedy way to buy crypto on Coinbase using PayPal. We’re now one step further in bringing everyone easy and secure access to the cryptoeconomy. Learn how here: https://t.co/WxveJ8cGd6

— Coinbase (@coinbase) April 29, 2021

To use PayPal on Coinbase, the users will have to select PayPal as a payment method when buying cryptocurrencies. They will later be taken to a PayPal login screen and then users can make purchases of up to $25,000 in one day with the PayPal account. Besides allowing PayPal as a funding source, all customers in the US can purchase crypto with a connected bank account or ACH or wire transfer, as well as debit cards. Coinbase added:

“In the coming months, we’ll expand the ability to purchase crypto using funds from Paypal to more countries. Cash withdrawals to Paypal are already available in the US, Canada, EU, and UK.”

To use the new option, Coinbase explained that you can add your PayPal account via the add a payment method option which will link you to a new screen. All purchases made via PayPal are capped at ,000 per day and the debit cards and bank accounts linked to a PayPal account can be used to buy crypto.
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The Coinbase FAQ noted that this feature, however, doesn’t support payment methods like prepaid cards or credit cards. The crypto exchange also provided US customers with PayPal sell functions since 2016 and withdrawal capabilities since 2018. It further expanded the options by adding cash withdrawals in UK, US, Canada, and EU.

The news came after the P2P payment app Venmo announced a month ago that it is now offering 77 million users, a direct way into crypto. The app allows users to buy, sell and keep digital currencies like BTC, ETH, LTC, and Bitcoin Cash. The users can convert their digital currency into fiat to complete the transactions with 29 million global merchants using the Checkout and crypto app. PayPal confirmed that there will be no fees charged at the purchase time.