Coinbase announced last Thursday that Paypal has been added as a funding source for buying cryptocurrencies on the exchange. The Nasdaq-listed company wrote:
“We are now able to offer millions of customers in the United States a quick and easy way to buy cryptocurrencies on Coinbase. That is, using your debit cards and bank accounts connected to Paypal ”.
Coinbase explained: "If you have an existing Paypal account, you will be able to immediately start making transactions on Coinbase", adding that "it is not necessary to add bank accounts or card numbers directly to Coinbase".
However, the company noted that "e-checks and Paypal-related credit cards cannot be used to purchase cryptocurrencies with Coinbase."
To use Paypal on Coinbase, users will select Paypal as the payment method when purchasing cryptocurrencies. They will then be taken to a Paypal login screen. Coinbase explained: "You can make a purchase of up to $ 25.000 per day with your Paypal account".
In addition to allowing PayPal as a funding source, "customers in the United States can purchase cryptocurrencies with a linked bank account via ACH or wire transfer, a debit card, [or] funds in their Coinbase USD wallet."
Coinbase added: “In the coming months, we will expand the ability to buy cryptocurrencies using Paypal funds to more countries. Cash withdrawals on Paypal are already available in the US, Canada, EU and UK ”.
PayPal itself also offers the purchase, sale, and possession of select cryptocurrencies. In addition, the company has launched an "encrypted checkout" service that allows users to spend their coins at millions of merchants. However, unlike Coinbase, Paypal's terms of service state that "You will not be able to transfer crypto assets from your cryptocurrency hub to another cryptocurrency wallet". Recently, the company also rolled out an encryption service on the Venmo app.
On our pages, you will also find a complete guide for buy Bitcoin with PayPal, or other cryptocurrencies, in a simple, fast and secure way. At this point, given that the acquisition of cryptocurrencies becomes more and more mainstream, there really are no more mitigating circumstances for not jumping on the crypto train.
Suffice it to say that every time Elon Musk tweets about Bitcoin or Dogecoin (of which he has called himself Dogefather), the coins show significant increases. So why not take advantage of it? Also, what do you think about the fact that Coinbase now allows users to buy cryptocurrencies with Paypal? Would you like this option to be brought to Italy as soon as possible? Let us know below in the comments.
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