Coinbase also announced the addition of the ability for users to purchase cryptocurrency through their PayPal accounts in the United States (and very quickly in other countries).
According to Coinbase, this feature provides users with a "familiar and reliable" experience while purchasing one of the many cryptocurrencies currently held by the exchange, and the use of PayPal as an intermediary means you don't have to give your bank account or credit card details directly. In the coming months, the feature will be expanded to other countries.
To use this new option, Coinbase says you can add your PayPal account via the "Add Payment Method" option, which links to the PayPal login screen. Purchases via PayPal are capped at $25,000 per day, or 0.46 bitcoin at this time. Credit cards and bank accounts linked to a PayPal account can be used to purchase cryptocurrencies, but a Coinbase FAQ states that the feature does not support payment methods such as prepaid cards.
This news is part of PayPal's broader trend to embrace cryptocurrencies. In November of last year, the company began allowing U.S. users to buy, sell and hold cryptocurrencies directly from their PayPal accounts, and this year it rolled out the option for users to pay with cryptocurrencies held in their PayPal accounts.
PayPal currently supports only four crypto-currencies natively - Bitcoin, Ethereum, Litecoin and Bitcoin Cash - versus dozens available on Coinbase.
Source: Website
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