Coinbase has unveiled a new and exciting feature allowing for the flexibility to use PayPal for cryptocurrency purchases. The exchange deals in a select number of cryptocurrencies’ locking out the rest.
The process to be easier for Paypal account holders
Persons who already have Paypal accounts won’t have an easier time making transactions because they won’t be required to provide their bank accounts. The other thing is that such persons won’t have to submit their debit card information to start transacting on the exchange. There are high hopes that more countries will be able to enjoy the new feature offering an outstanding and familiar experience to users soon.
Coinbase illustrated to users how they need to go about linking their Paypal accounts. A user will need to locate the “add a payment method” feature and then link his/her Paypal account.A successful linking will enable users to transact via the Paypal login screen.
Users who will turn to Paypal to close their transactions will enjoy expanded limits, considering the $25,000 cap a day put in place. This cap translates into about 0.46 Bitcoin.
Coinbase encourages users to link their bank accounts and debit cards to Paypal so they can enjoy greater flexibility. For instance, it will be possible to make transactions using their bank accounts and debit cards. Coinbase has, however, confirmed some of the limitations of the new feature. For example, the latest feature locks out payment methods such as credit cards and prepaid cards.
Paypal exudes confidence in crypto
Paypal has lately been doing a lot of things that show its interest and confidence in cryptocurrency. One of the company’s greatest moves happened in the previous year. It made a provision for buying, selling, and holding cryptocurrencies possible through its platform.
The next big move happened this year when the company expanded its service delivery to let users make payments using cryptocurrency. However, the payments could only be made using cryptocurrencies in the user accounts.
Some of the cryptocurrencies that the platform supports include Litecoin, Bitcoin, Ethereum, and Bitcoin Cash. The above cryptos happen to be a small number compared to the many available on Coinbase.