Coinbase has announced that the company has added the option for users to buy cryptocurrency with their PayPal accounts in the US.
A cryptocurrency company, Coinbase, has announced that users will now be able to buy virtual currency using their PayPal accounts in the United States.
Using this feature, Coinbase says users can buy any of the numerous cryptocurrencies it currently supports, and they’ll benefit from not having to give their bank account information directly to the cryptocurrency exchange.
In the coming months, the feature will be available in other countries.
PayPal purchases via Coinbase are limited to an amount of $25,000 per day, or 0.46 Bitcoin, as of writing. To use the new option, Coinbase said you can add your PayPal account through their “Add a payment method” link, which sends you to PayPal’s login page.
You can add your PayPal account via Coinbase’s “Add a payment method” option, which links to PayPal’s login screen. The limit on PayPal purchases is $25,000 a day, or 0.46 Bitcoin as of this writing.
A Coinbase FAQ indicates that credit cards and debit cards linked to PayPal accounts can be used to buy cryptocurrencies, but prepaid cards and bank accounts do not support the feature.
PayPal is taking a broader approach towards cryptocurrency integration, as evidenced by the news.
Last November, the company started letting US users buy, sell, and hold cryptocurrencies from their PayPal accounts. This year, the company began offering the option to pay with cryptocurrencies held in their PayPal accounts (though they are converted into local currency before a merchant is paid).
Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are PayPal’s native supported cryptocurrencies, whereas Coinbase offers dozens.