Cryptocurrency exchange Coinbase now allows US customers to buy cryptocurrencies with Paypal. Millions of customers can now buy cryptocurrency up to $25,000 a day with their Paypal account.
Coinbase Adds Paypal as Payment Method for Users
Coinbase announced Thursday that Paypal has been added as a funding source (payment method) for buying cryptocurrencies on the exchange. The Nasdaq-listed company wrote:
We now offer millions of customers in the US a simple and fast way to buy crypto on Coinbase using your debit card and bank account linked to Paypal.
Coinbase explains, “If you already have a Paypal account, you will be able to start making transactions on Coinbase immediately,” adding that “there is no need to add a bank account or card number directly to Coinbase.”
To use Paypal on Coinbase, users will select Paypal as the payment method when purchasing cryptocurrency. They will then be taken to the Paypal login screen. Coinbase explains:
You can make purchases of up to $25,000 a day with your Paypal account.
In addition to allowing Paypal as a payment method, “customers in the US can purchase crypto with a linked bank account via ACH or wire transfer, debit card, [atau] funds in their Coinbase USD wallet.”
Coinbase added: “In the coming months, we will be expanding the ability to buy crypto using funds from Paypal to more countries. Cash withdrawals to Paypal are already available in the US, Canada, EU and UK. ”