Coinbase Renewed A Possibility Of Funds Withdrawal To PayPal
Coinbase, the leading US cryptocurrency platform, announced on Friday, that its US users had the opportunity to instantly convert Bitcoins into Fiat withdrawals to the global PayPal wallets for free.
Options for buying Bitcoin and other cryptocurrencies via PayPal, at least at this stage, are not provided.
Starting today, all Coinbase customers in the U.S. can instantly withdraw Coinbase cash balances to PayPal for no fee.
— Coinbase (@coinbase) December 14, 2018
Earlier Coinbase has already integrated PayPal. For the first time this method of funds withdrawal added in June, 2016. Last year because of technical difficulties service was turned off.
As Coinbase project manager, Allen Osgood, noted in the company's blog, users from the USA needed you needed an ACH or Federal Wire account to withdraw funds. These are traditional financial networks, however, are extremely sluggish: process of withdrawal of funds can occupy up to two working days.
According to him, the Californian company always sought not only to correspond to the level of traditional finance, but also to raise a sights hire than ever before, and PayPal with its speed and reliability gives it to realize.
Coinbase also claims that in 2019 the possibility of withdrawing funds using this payment system will be available to users from other countries.
This announcement was made as part of a 12-day holiday promotion, in which the company presents new products and services every day. So, on the first day, Coinbase announced the expansion of a partnership with a London-based startup WeGift, thanks to which its US users will be able to buy gift certificates from dozens of retailers, including Uber, Nike and Gap.
In addition, the company made a donation of $ 10,000 ZEC through the GiveCrypto platform in support of those in need in Venezuela, and also added the ability to customize the users accounts.