Coinbase has a rich history behind it, as it is one of the first cryptocurrency exchanges to become really big. The exchange was founded in June 2012 by Brian Armstrong and Fred Ehrsam and has since been at the top of the charts in terms of daily trading volumes.
One of the best things about Coinbase is the fact that it has a very accessible user-interface, making it very good for any user who just started with crypto. Coinbase also allows its users to buy and sell cryptocurrencies, and deposit using debit cards and bank transfers. Other advantages include the fact that it has very low fees, and that it’s a fully regulated crypto exchange.
Another aspect that sets Coinbase apart is the fact that it allows you to withdraw cash from your account and deposit it directly into your PayPal account. And, by taking advantage of PayPal’s Instant Transfer capability (available to US citizens), you can instantly receive cash for a fee of $0 directly to your linked debit card.
Before anything, here’s how you add a PayPal account to your Coinbase account.
How to Add a PayPal Account
To get started, you need to access the Coinbase website using any modern web browser, on any device, be it a Mac, a typical PC, or your smartphone. Next, log into your Coinbase account, and head over to “Settings.”
Follow through by selecting “Linked Accounts” from the top of the overview tab, and then select “Link a New Account” button to proceed. From the provided list, select “PayPal.” You will be redirected to a PayPal login page. Once you’ve added the credentials and you’re logged in, you will have to grant Coinbase access to your PayPal account by selecting “Agree.”
Once your PayPal account has been successfully linked, you can go to the next step.
How to Withdraw from Coinbase to PayPal
To withdraw funds from Coinbase to your PayPal account, select the “Buy/Sell” option from the Coinbase toolbar (on the right of Dashboard), and select “Sell.” On the “Sell From” section. Then, select the wallet you want to transfer the funds from, and select your PayPal wallet in the “Deposit To” section.
In the following screen, check if the transaction details are correct, and if they are, simply hit the “Confirm Sell” button.
If all went well, you should receive a notification, in a couple of seconds, confirming that the funds were transferred to your EUR wallet.
To transfer your money to PayPal, you will have to go to your EUR/USD wallet and click on “Withdraw.” Then, you must select the option to withdraw to PayPal, write the amount you want, and click “Continue.” After that, you need to confirm your “EUR Withdrawal,” and you will receive the message “EUR Withdrawal Finished.”
How to Remove Your PayPal Account
If this is a one-time transaction, or you’re simply the type of user that’s very privacy-oriented, then you might want to remove your PayPal account from Coinbase. The process is very simple, as you have to access “Settings” once more, then select “Linked Accounts” just like before, and then simply click the “Remove” button next to your PayPal account. You’ll be prompted by another confirmation box where you’ll have to click “Remove” once more.
Coinbase is a popular US-based exchange that boasts incredible daily volumes, and a large collection of cryptocurrencies for investors and traders to choose from. Regarding the PayPal’s integration with Coinbase, there’s still a lot to be done until these types of services will become more attractive. For now, Coinbase only allows users to withdraw funds to their PayPal accounts.
Image Source: The Coinbase Blog