Coinbase users in the USA can now pay with PayPal

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Coinbase customers in the US can now use their PayPal account to buy cryptocurrencies worth up to $ 25,000 per day

Yesterday, Coinbase announced that its customers in the US can now buy cryptocurrencies with PayPal. This allows these users to make their purchases quickly, easily and in the usual way, making the crypto economy more accessible to the normal consumer.

Coinbase is one of the largest and most popular cryptocurrency exchanges with approximately 56 million verified users and a quarterly trading volume of 335 billion US dollars. The exchange made headlines with its IPO earlier this month and is now traded on the NASDAQ under the symbol COIN.

Coinbase customers can already buy cryptocurrencies with a connected bank account via ACH (Automated Clearing House) or bank transfer, but this process can be lengthy and cumbersome. Now crypto purchases can be processed immediately via debit cards and bank accounts connected to PayPal.

Card numbers and bank accounts do not have to be entered directly at Coinbase, but are managed securely by PayPal. Customers simply click on “Add payment method” when purchasing coins and select PayPal. You will then be redirected to the PayPal login window to complete the transaction. In the US, UK, Canada and the EU, Coinbase already supports cash withdrawals on PayPal accounts.

PayPal entered the cryptocurrency market in October 2020. At that time, the company enabled its users to buy, sell, and store Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. PayPal extended this service at the end of March with a crypto checkout service. This move could encourage the use of cryptocurrencies as it makes it possible to pay with cryptocurrencies at 29 million PayPal merchants around the world.

Since then, the mobile payment service Venmo, which belongs to PayPal, has also introduced support for the same four coins and allows its more than 70 million users to enter the world of cryptos for only 1 US dollar.

Coinbase customers in the US can now use their PayPal account to buy cryptocurrencies worth up to $ 25,000 per day for a 3.99% fee. This payment option is to be extended to other countries in the coming months.