Coinbase Added Free Payout to PayPal


According to AMB Crypto, Coinbase, the largest US crypto-exchange, without much publicity, has made available the option of withdrawing fiat currency into PayPal accounts without commission.

This option is available for national currencies such as US Dollar (USD), British Pound (GBP) and Euro (EUR). Interestingly, Coinbase has not made any official statements on this issue on its website or through social media.

However, the publication reports that the company sent letters with relevant information to users from the US, UK, EU, and Canada. In addition, the Coinbase website in the FAQ section says about the possibility of linking your PayPal account from November. This makes it possible to withdraw fiat funds to PayPal, or to sell crypto active assets with the subsequent transfer of funds to the account of this system.

To bind a PayPal account, Coinbase users first need to go through the verification process.

Below is a table with withdrawal limits depending on a particular fiat currency:

In particular, users can withdraw no more than $25 thousand per day. In this case, the maximum amount of the transaction is limited to 10 thousand dollars.

On the following table, you can see that users from Canada and Australia do not have the ability to directly sell Fiat via PayPal. However, they can sell their cryptocurrencies with funds credited to CAD and AUD through this payment service.

Thus, it is possible that in the future it may be possible to deposit funds into Coinbase services through PayPal.

Recall, the other day Coinbase began supporting Zcash cryptocurrency, and a little earlier – Ethereum Classic and various ERC-20 standard tokens.