Coinbase Users Can Withdraw Their Exchange Price From Their Paypal Account

Coinbase Users Can Withdraw Their Exchange Price From Their Paypal Account

According to an official, on December 17, San Francisco wallet service and cryptocurrency transactions; i.e., Coinbase has provided a new conversion service. According to this report, the users can directly exchange between Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), and Bitcoin Cash (BCH). Furthermore, the programs of Android and iOS versions are available at Coinbase.com

According to Anna Marie Clifton, the chief executive, this company has added a new feature to its exchange services called Coinbase Convert. This new feature can be serviceable in 34 different countries, while Coinbase solely is available in local payments. According to the report, this new feature has been a part of the exchange improvement process. Coinbase has been working on the part of its campaign called “12 Day of Coinbase” since December. On December 14, Coinbase announced PayPal withdrawal service. This service is just available for users active in the United States, and then it will be accessible for the people in other countries. In this service, Paypal is, in fact, an intermediary between fiat currency and cryptocurrency exchanges. These withdrawals from Paypal account are not only done with high speed, but they also don’t incur any extra cost to the users. Before that, the users were forced to withdraw money through a third party system, that is, a Federal Wire account or an ACH, and this process might have taken up to two days.

Previously, in 2016, Coinbase and Paypal had cooperated with each other, Coinbase had added another support to Paypal platform beside the main credit card. The users had been able to sell their Bitcoin and save it in their Paypal wallet in the form of investment. Due to technical problems, this cooperation finished in February 2018. In addition to introducing new features and services in Coinbase Platform, this campaign has some charity and teaching programs too. According to CoinMarketcap, Coinbase specific platform, i.e., Coinbase Pro is the twentieth biggest 24-hour cryptocurrency exchange market with $154 million.

What should we wait for in the future?

New customers should link their Paypal account to Coinbase exchange account in order to be able to withdraw. This capability will be activated in other countries in the next year. This novel feature allows users to convert Bitcoin into real currency whenever they wish easily. Moreover, Coinbase is to launch gift card service for the user so that they can comfortably change their cryptocurrency to the gift card and make the purchase from famous brand names like Nike and Uber. Coinbase is trying to change into the safest and quickest cryptocurrency exchange market. How much can these changes make easier cryptocurrency conversion to real currency in the future, is yet to been seen.

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