Coinbase is now allowing its United States-based clients to purchase cryptocurrencies using PayPal. With this Exchange platform, crypto enthusiasts can buy their favorite digital products conveniently with PayPal. Are there any limits on the purchases? Users can spend up to $25,000 per day on cryptocurrencies when using this mode of payment.
Coinbase Provides PayPal Payment Option to Its Clients
On Thursday, Coinbase announced PayPal as their transaction option for purchasing cryptocurrencies. Listed by Nasdaq, the Exchange confirmed providing its million users (based in the U.S) with a quick and straightforward mode of buying crypto. Coinbase followers can now invest in their desired asset using credit cards and PayPal.
Coinbase suggested that users with PayPal accounts could start transacting right away. They can buy and sell seamlessly without adding card numbers or bank accounts to the Coinbase platform. However, the cryptocurrency company explained that users will not purchase crypto using PayPal and e-checks linked to credit cards.
Nothing is challenging when using PayPal to transact on Coinbase. Customers will choose the PayPal payment option when purchasing cryptocurrencies. After that, they will gain access to the PayPal login page. Online trading fans can use their PayPal accounts to buy cryptocurrencies up to $25,000 per day.
Besides using PayPal as a transaction method, customers may purchase cryptocurrencies using a linked bank account through money in their trading accounts, wire transfer or ACH, and a debit card.
Coinbase added that it is aiming at expanding PayPal services to other countries in months to come. Crypto trades in the United Kingdom, the EU, Canada, and the United States can use PayPal when depositing and withdrawing from their trading accounts.
PayPal also supports the holding, selling, and purchasing of given cryptocurrencies. Moreover, the company allows its customers to spend their funds with multiple merchants. That is possible with the “Checkout with Crypto” feature. However, contrary to Coinbase, PayPal has its terms of operation. For instance, users cannot transfer assets from their crypto hub to a different cryptocurrency wallet. Keep in mind that the firm prohibited Venmo app crypto services recently.
What benefits will Coinbase customers get from using PayPal as their payment option? Comment your views below.