Coinbase, to allow users to buy crypto using PayPal

Coinbase users who also happen to have a PayPal account will have, from now on, a new way of purchasing digital tokens through the exchange

In an official statement made this week, the exchange said that customers based in the United States will also be able to buy crypto using debit cards, as well as bank accounts link to their PayPal accounts. This move is supposed to permit many of them to bypass automated clearing house and wire transfers to fund their purchases.

Buying crypto becomes simpler

Basically, this decision will allow Coinbase users to “buy crypto instantly”, without complicating the process, by requiring bank account information or credit card numbers. Also, the limit of $25,000 in crypto per day, through PayPal, is more than enough for the average crypto enthusiast.

However, the biggest downside is that the feature will be available just to the United States, at least for the moment, but the exchange is seriously considering expanding to other markets “in the coming months”.

The future looks bright for Coinbase

2021 has been, so far, a great year for the exchange, as it reported 6.1 million monthly active users in the first quarter, while PayPal recorded almost 380 million total users in 2020. Also, both of them have made important progress into cryptocurrency back over the last 12 months!

Earlier in April, Coinbase went public, through a direct listing on Nasdaq, while PayPal introduced its crypto services for United States-based users, back in November 2020, thus allowing them to trade up to $20,000 per week, followed by the announcement regarding the upcoming feature of paying in crypto at PayPal’s global merchants.