Coinbase a crypto currency platform announced recently that it has opened a new feature for their users, this will allow Coinbase users to be able to withdraw their cash balance directly to a personal PayPal account for free. As for now this option is only available for US based customers. However, this is just for a short while since the company plans to expand this options to other countries in the coming year of 2019.
Coinbase is operational in 42 countries at the moment. Precise details about the expansion to these countries are yet to be revealed. Coinbase had initially offered this option to their users in the year 2016 but was later disabled due to technical setbacks.
Withdrawals Made Easier
In the recent past the only withdrawal methods that could be used in the United States were either through a bank account or the Federal Wire System. This meant that if you wanted to make any withdrawals you had to go through a bank. With new PayPal withdrawal feature users of Coinbase can now fully circumvent banks when it comes to withdrawals.
However, this system has not been fully perfected since you cannot use PayPal buys to purchase crypto currency, but this is a foreseeable reality. For buying crypto currency customers may use credit, debit cards or bank transfers depending on your location.
Why Is This a Good Thing?
In the past, when using traditional finance methods or the banking system, it would take a withdrawal up to two business days to be fully processed. The crypto currency business has been searching for ideas to surpass the rules or the bar set by banking systems. This way it will ease the trade of crypto currency in every way. This is why Coinbase has introduced this new feature to ensure speed and reliability by using PayPal withdrawals.
To get up and running, just sign in to your Coinbase account and link your Coinbase account to your PayPal account. When withdrawing cash, make sure you select Coinbase as your preferred payment option to move your cash instantly.