Coinbase joins forces with American company, Paypal to allow users buy cryptocurrency using their PayPal accounts in the US.
The company announced that the the feature offers a “familiar and trusted” experience for users buying any of the numerous cryptocurrencies that the exchange currently supports, and using PayPal as an intermediary means you don’t have to give your bank account or debit card information directly to the cryptocurrency exchange. The feature will expand to other countries in the coming months according to the company.
To use the new option, you can add your PayPal account via the “Add a payment method” option on Coinbase platrofm, which links to the PayPal login screen.
As at now, you can only make transactions up to $25,000 or 0.46 Bitcoin a day via PayPal. However debit cards and bank accounts linked to a PayPal account can be used to buy cryptocurrencies, but a Coinbase FAQ notes the feature doesn’t support payment methods like prepaid cards or credit cards.