Coinbase cryptocurrency exchange today added Paypal as a payment option for US customers, which would allow millions of US-based users to add their Paypal linked debit and credit card to their Coinbase account making way for seamless crypto purchase on the exchange.
We're now offering customers in the US a simple and speedy way to buy crypto on Coinbase using PayPal. We’re now one step further in bringing everyone easy and secure access to the cryptoeconomy. Learn how here: https://t.co/WxveJ8cGd6
— Coinbase (@coinbase) April 29, 2021
The addition of Paypal as a payment option on the platform also offers an added privacy and security since users won’t have to add their card details to their coinbase account. The crypto exchange has set a $25,000 daily spending limit for the linked PayPal account.
The largest cryptocurrency exchange in the US made its public debut only a couple of weeks ago on Nasdaq with the highest public debut valuation of $85 billion. The crypto exchange boasts of over 50 million registered users and nearly a billion dollars in profits by the end of the first quarter and right before their public debut.
PayPal Continues Their Cryptocurrency Embracement Further
PayPal added a crypto trading and holding option later last year allowing US customers to buy, sell and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This year Paypal opened the gates for crypto usage by allowing its 300 million customers to spend their crypto holdings at millions of its vendors. PayPal’s growing interest in furthering its crypto business says a lot about the future of payments and the role of cryptocurrencies in it. The CEO of the firm in a recent interview had claimed that the response for the addition of crypto services within the app has been overwhelming.
Recently, PayPal owned Venmo added buy/sell and holding option for its 70 million users. This bull season has seen a massive widespread adoption of cryptocurrencies right from PayPal to some of the biggest critics of Bitcoin on Wall Street.