Coinbase’s US users can buy crypto using a PayPal account. In an announcement, Coinbase said that this move would let users bypass automated clearing house and wire transfer methods to fund crypto purchases.
Coinbase went public through a direct listing recently. Coinbase allows its users a simple and easy way to buy crypto using a PayPal. With this latest integration, its US customers with an existing Paypal account can start making transactions immediately and securely. Users don’t have to give their bank account or debit card information directly to the cryptocurrency exchange. “you can continue using PayPal to securely manage your information,” said an announcement.
After selecting a cryptocurrency to buy, users need to select the “add a payment method” option in the Coinbase app. After login, users can select or add a debit card or bank account linked to their PayPal account.
Once done the whole process, users can purchase up to $25,000 a day with their PayPal account. They’ll lose nearly 4% of such purchases to Pay Pal specific fees.“The Fees cover the costs of payment processing,” said a Coinbase project manager, Eddie Lo.
In the coming months, Coinbase expects to expand this service out to other countries. This includes Canada, the EU, and the UK.
