Coinbase, a cryptocurrency exchange which lists most of the top 5 cryptocurrencies, announced that customers in the 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 world’s largest payment platforms, and will now act as another link between the crypto exchange and fiat currencies. The withdrawals to PayPal will be free.
The Fifth Day of Coinbase
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 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 noted 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 12 Days of Coinbase Timeline
Day 1- WeGift e-Cards:
Users can now spend their crypto balances to buy e-gift cards from WeGift which can be redeemed on Uber, Nike, GAP, and more.
Day 2- Zcash Donation to Venezuelan families:
The exchange made $10,000 worth of donations in Zcash via GiveCrypto which will be used to provide support to Venezuelan families.
Day 3- Cryptocurrency: The future of finance and money (Video):
Coinbase talked about the power and flaws of money, talking about its vision of cryptocurrency as a means of economic freedom and democratization.
Day 4- New Watchlist feature:
Users will now be able to add digital assets to their watchlist with the click of a button. Even assets that are not listed on Coinbase will be available on the watchlist.
Day 5- Enables PayPal withdrawals:
In a major announcement, Coinbase allowed users to withdraw cash from their Coinbase wallet directly to their PayPal accounts.
Day 6- Bitcoin donation for Syrian refugees:
Coinbase donated $10,000 in BTC to Syrian refugees living in Greece via GiveCrypto.
Day 7- Coinbase educates users on USDC:
TCoinbase talked about its first stablecoin listing, USDC, a Circle-backed cryptocurrency pegged to the US Dollar 1:1.
Day 8- Enables direct crypto conversions:
Users can now convert one crypto holding to another quickly using the new Convert feature on Coinbase.com and the Android and iOS apps.
Day 9- Coinbase Pro Lists four ERC20 Tokens:
Coinbase pro adds support for Golem, Maker, Dai, and Zilliqa in select jurisdictions.
Day 10- Launches Coinbase Earn:
Coinbase Earn allows participants to earn crypto while learning about it at the same time. The program has launched initially in invite-only mode.
Day 11- Welcomes Customer From New European Regions
Coinbase will now be available for customers in Iceland, Andorra, Isle of Man, Lithuania, Gibraltar, and Guernsey.
Day 12- To be confirmed…