Coinbase Offers Buying Bitcoin with PayPal Option

Saturday 01 May 2021, 1:30 PM AEST - 1 week ago

Not long after their listing on the NASDAQ exchange, Coinbase has announced that going forward, PayPal payments for cryptocurrencies will be added to their services.

In a press release on their blog the company succinctly laid out the reasons behind their decision to add PayPal as a payment method, and the main thing setting the new payment method apart from usual card purchases.

No Need To Add Extra Banking Info On Coinbase

Eddie Lo – Product Manager at Coinbase – stated in the blog post that although buying crypto should be quick and easy, long bank transfer times, 2 Factor Authentication and other issues can make the experience quite a hassle.

“Buying crypto should be simple and easy. However, moving money in the traditional world of finance can be anything but. We know you are expecting faster and more seamless ways to make crypto purchases.”

When buying Bitcoin off of Coinbase using PayPal, customers will no longer need to go through the motions of adding extra bank account information to their account and waiting for it to be verified.

You Can Buy Up To $25,000 of Crypto Daily

Provided the e-mail address associated with the user’s PayPal account matches the one used to sign up to Coinbase with, a user can simply log in to their PayPal account from within the app – and voila, up to $25,000 worth of crypto can be purchased daily.

As world leaders and pioneers in the world of payments, PayPal also reassured Coinbase customers that their data was perfectly safe with them – and that PayPal looks forward to helping the world of crypto grow.

“Funding crypto purchases through PayPal offers a familiar and trusted experience as you explore the world of crypto. Working with the payments ecosystem, PayPal has built up the knowledge and implemented the proper tools in order to assure transparency, performance and security in all services.”

Paypal

For now, the service is only available in the USA – but PayPal is planning to expand its crypto network within the coming months after the Paypal CEO admitted that the demand was overwhelming.

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