If you using Coinbase and you a have question ‘Does Coinbase take PayPal?’, read this article to get answer for this question.
What is Coinbase?
Coinbase is an online platform that allows one to buy, sell, transfer, and store digital currency safely. It offers exchange and trading of over 100 crypto currencies such as Bitcoin and Ethereum. It has over 70 million users worldwide and the number is still growing.
It was founded in 2012 to receive and send Bitcoin by Brian Armstrong and Fred Ehrsam. It has no main headquarters. It is considered to be one of the largest crypto currency exchanges in the U.S.
Advantages of Coinbase
- It is easy to use if you don’t have prior experience in crypto currencies. Its website and app is well laid out, enabling beginners to sell, buy and exchange digital currencies.
- It accepts a wide range of crypto currencies. It accepts offer 100 currencies currently and the number is still growing.
- It allows one to earn profits from trading
Disadvantages of Coinbase
- Coinbase has relatively high transaction fees.
- It has been rated poor in customer services and customer satisfaction, including account security issues
What is PayPal?
PayPal is a financial technology company based in the U.S. that supports online money transfers. This is an online method of payment that allows one to receive or send money relatively faster, and secure. All that is needed is a valid email address linked to a bank or a credit/debit card.it is a payment processor for commercial users. The PayPal app can be easily accessed online allowing customers from all over the word to transfer, receive and send money more conveniently across the world. It is secure as it has a two factor authentication.
How PayPal works
- One can either download the PayPal app or can just register in their website.
- To link the PayPal account one first needs to complete document verification steps and address of residence.
- After document verification, now one can link a new account and then add a payment method in the app
- The PayPal email account should match with the Coinbase email for it to work.
- The PayPal account’s country is supposed to match with the Coinbase account’s country
- You are only allowed to use one PayPal account at a time.
Does Coinbase take PayPal?
Yes. United States customers are allowed to buy digital currencies using PayPal. All other customers who come from regions outside the US can only use PayPal to sell or cash out. The maximum amount one can use is $20 000 dollars per week and up to $50,000 per year.
Coinbase introduced PayPal to ensure that customers have a simple and a faster way to buy digital currencies (crypto currency) on their mobile using by linking their bank accounts. PayPal has not only built up transparency but also has increased performance and security in all services.
If you already own a PayPal account you are eligible to start transacting in Coinbase as there is no need to link your bank account directly with Coinbase
How to use PayPal with Coinbase?
To fund your Coinbase with PayPal;
- Select the crypto you want to purchase and then tap on the payment method.
- On the add a payment method tab, choose the PayPal option. The payment will take you to your PayPal website.
- The PayPal email address should be the same with the Coinbase email address for the transaction to go through.
- The maximum amount you can withdraw from Coinbase account using PayPal is $50,000 per day.
Frequently asked questions (FAQs)
What to do if my PayPal transaction gets declined?
Reasons that may lead to your transaction to be declined include but not limited to fraud, if there is insufficient funds in your account, errors made by the bank, the PayPal email address do not much with the PayPal email address and network errors. If this happens, try again or contact PayPal customer care for further assistance.
Is it secure to use PayPal with Coinbase?
Yes. PayPal is secure for both buyers and sellers. It requires a two-factor authorization for maximum security. In addition, it is backed up with end to -end encryption.
Is PayPal with Coinbase available in all countries?
Yes. All customers can use PayPal to purchase crypto currencies.
How long will it take me to receive money withdrawn via PayPal?
In most occasions, it takes within 30 minutes for cash outs to reflect but sometimes it can take up to 24hours.
What is the maximum amount can I withdraw from Coinbase using PayPal?
The maximum amount you can withdraw using PayPal is $50,000 per day.
What is the fee charged when withdrawing from Coinbase to PayPal?
When withdrawing money from your Coinbase account to PayPal account you incur no fees. It is absolutely free, faster and secure
Is Coinbase safe?
Yes.it is highly regulated and it has the safest wallets that cannot be easily accessed by cybercriminals.
