Popular cryptocurrency app Coinbase has added support for funding your account using PayPal in addition to its existing options. This new support makes it much easier for users to add currency to their account, which can then be used to purchase Bitcoin, Ethereum, or one of the other many digital coin assets offered by the platform.
Coinbase is a platform that enables users to purchase, hold, and send many cryptocurrencies, including the big ones like Litecoin, Ripple, Bitcoin, and similar. Assuming you want to transfer some of your real-world cash into digital coin, you can fund your Coinbase account and then use those fiat funds for cryptocurrency.
Coinbase offers users multiple options for funding your account, including linking a bank account, wire transfers, and linking a debit card. The newest option is PayPal, the online banking platform that can be linked to your checking account.
There are various advantages to each option: wire transfers are used for adding large funds, while bank accounts can be used to process orders instantly. Arguably the best benefit to using the PayPal funding option is how easy it is to link the service compared to, for example, a checking account.
This new support is available to customers in the United States, according to Coinbase, which notes that the funds are pulled from the cards or bank accounts you have linked to your PayPal account. The funding process is instant, the company notes, with support for purchases of up to $25,000 per day.