Coinbase Users Can Now Easily Make Fiat Withdrawals via PayPal

| Updated
by Julia Sakovich · 3 min read
Coinbase Users Can Now Easily Make Fiat Withdrawals via PayPal
Photo: sayantani2602 / Flickr

To enhance its customer experience, Coinbase has recently added a new option to withdraw fiat currencies via PayPal accounts.

We won’t exaggerate if we say that Coinbase is one of the most fast-expanding companies in the industry. The platform is interested in the growth of its client base and to achieve this aim Coinbase is trying to offer new opportunities for its existing and potential users.

Withdrawals via PayPal

Recently, it has become known that now customers of this popular U.S.-based cryptocurrency exchange will have an option to withdraw fiat currencies via PayPal.

Though no official announcements on Twitter or Medium have been published yet, some users have already received emails informing about such an opportunity.

The platform has mentioned this brand new only on its website in the FAQ section. It reads:

“Beginning in November, Coinbase will add the ability for customers to link their PayPal and Coinbase accounts. Depending on country of residence, customers can either withdraw cash to PayPal or sell their crypto to their PayPal account.”

It is a free update that should be considered to be a great step forward and it can be really a very convenient option for a very wide audience.

How to Make a Withdrawal

To enjoy a new opportunity and to withdraw funds via PayPal, it is necessary to pass Coinbase’s Know Your Customer procedure. When it is completed, a customer will get an approval to his or her email box.

Now, these fiat withdrawals with the help of PayPal accounts are available in the following currencies: U.S. dollars, UK pounds, and euros. These currencies can be moved to PayPal from Coinbase without incurring a fee.

It is also expected that in the near future it will become possible to transfer the Canadian and Australian Dollars as well.

At the current moment, this option is available only for Coinbase users who live in the U.S., Canada, the UK, and the European Union. Nevertheless, taking into consideration the company’s strategy we can suppose that soon this list will get longer.

What about PayPal Deposits?

The fact that Coinbase has added PayPal withdrawal feature can be a reason to expect the launch of PayPal deposits, especially in the context of Coinbase’s efforts to add new services on a regular basis.

By the way, it is not the first attempt of Coinbase to integrate PayPal services to its exchange. PayPal withdrawals were available last year. Nevertheless, the platform was obliged to eliminate this option due to some performance issues.

Though it is only the early December, we can already say that 2018 has been extremely busy for Coinbase which has made a lot of headlines this year.

For a reminder, one of the latest and most prominent initiatives of the platform is the launch of an over-the-counter trading desk for institutional investors. Nevertheless, all its customers could enjoy lower volatility provided by the new service.

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