The giant online platform decided to collaborate with PayPal. With this partnership, you can now use your PayPal account to buy cryptocurrency in the U.S.
Coinbase previously went public, allowing it to improve its service to benefit its users. And now, the giant online platform decided to collaborate with PayPal to allow people to use their PayPal accounts to buy cryptocurrency.
As of the moment, Coinbase and PayPal’s innovation is available in the United States, only. Although this is the case, the giant online service company said that it will soon release this new feature will also arrive in other countries across the globe.
Coinbase said that PayPal users can have a familiar and trusted experience when buying various cryptocurrencies. The company, via its official Twitter account, said that “we’re now offering customers in the US a simple and speedy way to buy crypto on Coinbase using PayPal.”
What Is Coinbase?
Coinbase sells, transfers, and stores digital currency. Its main goal is to create an open financial system for the world and to be the leading global brand for helping individuals convert digital currency into and out of their local currency.
Here are some of its services;
- Makes buying and selling digital currency easy.
- Sending or receiving digital currency between online wallets, friends, or merchants on Coinbase is free!
- Handles security and backups so you don’t have to worry.
- Coinbase is a “one-stop shop” – we offer a wallet, an exchange, and merchant tools within one simple interface.
- Coinbase is a platform on which many applications are being built using our API.
How to Use PayPal’s New Option
If you want to use Coinbase’s new option, all you have to do is add your PayPal account via the “Add a Payment Method” option. This will link to your PayPal login screen. On the other hand, the Purchases made via PayPal are capped at $25,000 a day, or 0.46 Bitcoin.
However, you still need to remember that this could change based on the cryptocurrency value on the following day. Meanwhile, the digital currency service also allows the linking of debit cards and bank accounts to your PayPal account and buy cryptocurrencies.
But, the digital currency service said that the options for prepaid cards and credit cards are not yet available. Although this is the case, the popular online service platform could still release these options, together with other advanced capabilities, in the future to enhance its users’ experiences.
As of the moment, cryptocurrency is becoming more popular than ever since most people’s purchases are now conducted online. On the other hand, cryptocurrency’s value is continuously increasing since more people are investing in it. Some experts even claimed that physical money will no longer be available in the future. If this is true, people should expect that all transactions will be done online using various gadgets.