Curious investors can now jump on the Bitcoin bandwagon easily all because of Coinbase. The famous crypto firm has signed a deal with PayPal that allows people to purchase digital currency using their bank accounts and debit cards that are linked to PayPal.
Announcing the partnership, Coinbase said in a post that buying crypto should be easy and simple. However, moving money in the conventional world of finance can be anything but.
The post further added that wire transfers and ACH or Automated Clearing Houses, traditional processing systems may require effort and time. It further continued that company is aware that you are expecting seamless and more faster ways to make crypto purchases. Now you can instantly fund crypto purchases with PayPal merely in few taps.
In the Coinbase app, just click on the “add a payment method” option to link your accounts. You’re all set if you’ve used the same email address for sign-up with both the services. Or else, you be using two-factor authentication. From there, you can select the way you’d like to pay for your crypto.
As of now, the facility to withdraw cash from Coinbase to PayPal is already available in Canada, the U.S., the EU and UK. The company plans to add other nations in the upcoming weeks.
You can spend up to $25,000/day buying crypto on Coinbase using PayPal. Coinbase terminated accepting credit card purchases of crypto a few years ago.
Coinbase offers a wide range of crypto alternatives to interested buyers, including Ethereum, Bitcoin and Litecoin. However, it doesn’t trade in Dogecoin. PayPal allowed people to purchase cryptocurrency via its own app in the fall of last year. The maximum amount people can spend on it is restricted to $20,000 per week. It can go up to $50,000 total yearly.