US customers to now withdraw from Coinbase using PayPal

Coinbase customers in the U.S. would be smiling all the way this yuletide, as the crypto firm has further made withdrawal easy by allowing make withdrawals into their PayPal accounts.

This was made known in a blog post, which said U.S. customers can not convert their cryptocurrency holdings to cash and even can withdraw their Coinbase balances to PayPal immediately and without any additional fees.

It would be recalled that in November, Coinbase had made the announcement it was bringing back a PayPal integration which would afford customers the opportunity of making withdrawals using PayPal.

However, the exchange which previously had a PayPal feature but ceased offering the service duesnto technical issues in 2018, failed to bring back all the fearues this time, as users won’t be able to buy cryptocurrencies via PayPal.

While speaking, spokesperson for the exchange told CoinDesk that “there is new functionality that was improved from the prior one.” 
“There is new technical work to make this possible, and that was done in conjunction with PayPal,” he added.

 Allen Osgood who works on product at the exchange, wrote on Friday that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were previously required to use.

“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”

Meanwhile, the service is only available to U.S. customers for now, while noting that Support for PayPal withdrawals in other countries would take effect in the coming months in 2019. 

Comments (No)

Leave a Reply

Home | About us | Privacy Policy | Terms and Conditions | Advertise | Submit Post