Coinbase Restores PayPal Withdrawals for U.S. Citizens
Cryptocurrency exchange and wallet provider Coinbase has restored withdrawals to PayPal accounts, initially for its U.S. customers.
Starting today, all Coinbase customers in the U.S. can instantly withdraw Coinbase cash balances to PayPal for no fee.
— Coinbase (@coinbase) December 14, 2018
“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,” says the company’s blog post.
The exchange previously had a PayPal integration, but ceased offering the service due to technical issues earlier this year.
According to the company, customers will only be able to make withdrawals using PayPal, but won’t be able to buy supported cryptocurrencies.
Before this, added Coinbase, users needed a federal wire or an ACH (automated clearing house) account to withdraw funds from their accounts, and it could take up to two business days for the transaction to clear.
While the service is currently only available in the United States, support for PayPal withdrawals in other nations is expected in 2019.
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