Coinbase is now allowing its US clients to make crypto payments through their PayPal accounts. Intended users can directly link the PayPal account to his/her valid Coinbase account.
Coinbase remains the first major crypto company that went public about two weeks ago, and it rocked the entire market with a steady spike in its value for a time. Now, it pays further attention to enable crypto transactions that are simple, effective and convenient.
Meanwhile, PayPal keeps embracing the crypto platform in a consistent way. It already allowed its clients to use Bitcoin, Ethereum, Litecoin and Bitcoin Cash, and recently, the platform launched the digital currency checkout.
As it seems, the patch is sure to ease the digital currency selling, reserving and buying process. For now, three major cryptos make the list – Bitcoin, Ethereum and Litecoin. Of course, the pilot project only covers the USA to start from today.
Previous crypto purchase funding meant time-consuming wire transfer or debit card transactions, but Coinbase announced an instantaneous transfer with the upgrade.
Checking a cryptocurrency purchase within the PayPal app will come up with ‘Add a Payment Method’. The same email to support PayPal, as well as Coinbase, requires signing up. Also, the system can offer two-factor authentication for the linkage.
However, the current limit allows the linked interfaces to spend $25,000 a day.
Time Magazine interviewed Dan Schulman, current CEO of PayPal, on its recent actions regarding crypto. It was published on Sunday, days before the linkage facility to see light.
The platform remains available in 200 countries dealing with more than 1000 currencies, and he revealed the company’s major initiative to help move digital currency into the mainstream.
Demand for cryptocurrencies exceeded PayPal’s initial expectation, he described the situation as ‘Multi-Fold’ to excite the company.
Still, there’s no clear indication of PayPal’s intention to go beyond the US with Coinbase. Total success of the patch may enable further expansion of the service.