Coinbase now allows Bitcoin to be purchased with PayPal
Coinbase had already made it possible for a few years to withdraw funds to a PayPal account, but it was not yet possible to buy Bitcoin BTC or cryptocurrencies directly with this well-known payment provider.
The new listed US crypto exchange announced that it is now possible to buy Bitcoin and cryptos with the PayPal option, a service only available in the United States at this time.
An option that should open up to other countries in the future, the crypto startup said.
The electronic payment giant PayPal confirms its role in the adoption of cryptocurrencies, it also integrated the buying and selling of Bitcoin on its platform last year, as well as several other altcoins such as Ethereum ETH or Litecoin LTC.
While buying Bitcoin with PayPal may seem convenient, you should pay attention to the fees that are charged when using this payment solution.
On the Coinbase site, the prices quoted by the trading platform may turn off those eagerly awaiting the PayPal payment option.
It costs a 3.99% fee if you want to pay with PayPal on Coinbase, a fee that is the same if you pay with a debit card.
Coinbase users can buy up to $25,000 in crypto per day using PayPal.
Its services are aimed primarily at the general public, offering an easy-to-use interface for a quick and immediate purchase of Bitcoin but which comes with very significant fees.
If you buy for $1000 in Bitcoin, then you will pay almost $40 in fees if you use PayPal or a debit card.
The cheapest being to make a deposit by bank transfer, the fee is then 1.49%.
Just as eToro already did, it is now possible to buy Bitcoin with PayPal on Coinbase, a payment option that will certainly meet the demand of some users who were waiting for this option to be activated on their account.
Coinbase has not communicated a timetable for expanding the service to other countries.