[Blockchain Today Reporter Seoyeon Jang] Now, Coinbase users with PayPal accounts have more ways to purchase cryptocurrencies through exchanges.
According to Cointelegraph reports, on the 29th (local time), cryptocurrency exchange Coinbase will allow US customers to purchase cryptocurrencies using bank accounts and debit cards linked to PayPal accounts. Coinbase spokesman said, “With this move, the exchange method is also valid, but many users can buy cryptocurrency by bypassing the automated clearing house and remittance.”
Through this integration, Coinbase users with PayPal accounts are known to be able to instantly purchase cryptocurrency without adding bank account information or credit card number directly to the transaction. Users can purchase up to $25,000 in cryptocurrency daily using PayPal’s payment method.
According to Coinbase, this new funding feature is currently only available to US users. However, he added, it will expand to more countries within the next few months. As of the first quarter of 2021, Coinbase reported 6.1 million monthly active users, and PayPal had a total of 375 million users in 2020.
Both Coinbase and PayPal have had a big impact on the cryptocurrency world last year. This cryptocurrency exchange was publicly listed on NASDAQ earlier this month. In November, PayPal launched a cryptocurrency service for US users, enabling transactions of up to $20,000 per share. PayPal’s platform has continued to expand its cryptocurrency services following this service, and in March announced plans to allow US customers to use cryptocurrency services in PayPal’s global stores.
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