You can now buy your cryptocurrencies using PayPal – Coinbase

Written by: Ali Raza
April 30, 2021
  • Coinbase says the new feature will provide more crypto payment options and enable funding ease on Coinbase.
  • PayPal also allows the buying, selling, and holding of crypto assets on its platform, but limited.
  • When funding accounts on Coinbase, users do not need to add card numbers or bank accounts.

Coinbase exchange, the largest cryptocurrency exchange in the U.S., announced that users on its platform can now buy crypto assets using PayPal. The service was not available in the past, but Coinbase is pushing to offer more options to its users.

An easier way to buy crypto

Now, the crypto exchange has enabled millions of its customers to buy crypto on Coinbase using their bank accounts and credit cards linked to PayPal. According to PayPal, the process of buying crypto is now easier and less stressful with this new feature.

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Coinbase says funding crypto purchases through PayPal offers a trusted and familiar experience when exploring the crypto world.

“We’re now one step further in bringing everyone easy and secure access to the cryptoeconomy,” the exchange added.

PayPal reiterated that making payments with PayPal is straight forward since there is no need to add card numbers or bank accounts directly to Coinbase.

Apart from enabling PayPal as a payment method, Coinbase is also allowing customers from the U.S to buy crypto assets with a connected bank account through debit card or wire transfer.

It provides a plethora of options for customers to buy crypto assets from the exchange.

PayPal’s crypto service has a limited feature

Coinbase stated that the feature is only available to U.S. customers, but hopes to expand it to other countries in the coming months. Cash withdrawals to PayPal are already available in the U.K., EU, Canada, and the U.S.

PayPal already allows users to buy, sell, and hold select crypto assets. And it recently rolled out a ”checkout with crypto” feature that allows users to spend their cryptocurrencies at millions of merchants.

But PayPal’s crypto feature is limited as users cannot transfer cryptocurrencies from one crypto hub to another crypto wallet.