Coinbase lets U.S. customers buy crypto via PayPal account

By Pavithra R

California-based Coinbase, provider of a digital currency wallet and platform has announced offering its customers in the U.S. a simple and speedy way to buy crypto on its platform using their debit cards and bank accounts linked to PayPal.

The partnership enables users to instantly fund crypto purchases with PayPal.

Working with the payments ecosystem, PayPal has built up the knowledge and implemented the proper tools in order to assure transparency, performance and security in all services. The collaboration brings the companies one step further in bringing everyone easy and secure access to the crypto economy.

Users with an existing PayPal account can start making transactions on Coinbase right away without needing to add bank accounts or card numbers directly to Coinbase and continue using PayPal to securely manage information.

When ready to fund crypto purchases with PayPal, first select the crypto the user want to buy, tap on the payment method then “Add a payment method” to select PayPal. Users will be taken to PayPal login screen. Once logged in,  select or add a debit card or bank account linked to PayPal account. Once this is done, users can make a purchase up to $25,000 a day with their PayPal account.

Customers in the US can buy crypto with a connected bank account via ACH or Wire transfer, a debit card, funds in their Coinbase USD wallet, in addition to using funds from a connected PayPal account.

Founded in 2012, Coinbase’s mission is to create an open financial system for the world. It is a digital currency wallet and platform where merchants and consumers can transact new digital currencies like bitcoin, ethereum, and litecoin. The firm in the coming months plans to expand the ability to purchase crypto using funds from PayPal to more countries. Cash withdrawals to PayPal are already available in the US, Canada, EU and UK.