Coinbase customers in all US will now have better crypto, and fiat accessibility as the exchange is allowing them to withdraw Coinbase Cash balances to their PayPal accounts.
PayPal is one of the largest payment platforms in the world, and will now act as another link between the crypto exchange and fiat currencies. The withdrawals to PayPal will be free.
As part of its 12 Days of Coinbase program, the cryptocurrency exchange announced that all users based in the US can now withdraw their Coinbase cash balances to PayPal for free. Coinbase said:
“These withdrawals are not only fast; they’re free and incur no fees. We work hard to make Coinbase the easiest and most trusted platform around — and now, moving your cryptocurrency to cash is easier and more affordable than ever.”
Before the announcement, Coinbase users had to depend on a Federal Wire account or an ACH to withdraw their funds, which takes up to two days to transfer funds to the users.
PayPal removes this extra and useless step and provides users with an instant alternative to work with. It also provides them with a reliable and convenient way to withdraw funds.
Moving Into the New Year With Coinbase
Coinbase customers must link their PayPal accounts to their exchange accounts to enable withdrawals.
The new feature will also be rolled out to users of other countries throughout 2019.
The exchange realised that the customers want an open financial system which includes having the flexibility to use crypto, however, and whenever the users want. Coinbase said:
“This integration is a big step forward in realizing that vision, allowing you to smoothly and instantly transfer your funds to cash.”
The cryptocurrency exchange recently announced that it would allow users to buy e-gift cards with cryptocurrency which could then be spent at well-known brands like Nike and Uber.
Coinbase has also created a new watchlist feature on the dashboard which allows users to track cryptocurrencies they are interested in. Assets that have not yet been listed on Coinbase can also be added to the watchlist.