Coinbase, one of the largest cryptocurrency exchanges in the world now allows PayPal withdrawals for its users in the European Union and European Free Trade Association (EFTA) countries. The new development is to expand the reach and services of the exchange further.
PayPal Withdrawal Option Goes Live
Coinbase makes it easier to conduct transactions on the platform in the European Union and the European Union and European Free Trade Association (EFTA) countries as it offers users in those regions the ability to make withdrawals into their PayPal accounts.
The San Francisco-based cryptocurrency exchange stated in the press release that before the latest introduction, the options available to their users in the European countries for withdrawal is the Single Euro Payments Area (SEPA), and U.K. Faster Payments options.
The latest development will see the 28 members of the European Union and the four nations of the EFTA: Iceland, Liechtenstein, Norway, and Switzerland have access to the PayPal withdrawal option. Meanwhile, the exchange also noted that it’s working hard to activate the same feature to the users in other countries of the world where PayPal is functional. PayPal’s wide coverage gives the integration of the withdrawal option on Coinbase a great boost. Also, it reduces the stress of using cryptocurrencies as pertains to proper banking facilities.
To have access to the service the customers will have to link their PayPal IDs to their Coinbase account. Afterwards, the withdrawal option will be activated for such a user.
The latest introduction for Coinbase users in Europe introduced a year ago in the United States. This enables users to use the PayPal withdrawal option. Before it was reintroduced in 2018, it was first introduced in 2016 but was stopped for technical reasons.
Coinbase And Recent Addition Of BTC Wallet Support Feature
Recently, Coinbase added BTC support feature to its wallet. This feature enables its users henceforth to store their BTC on the wallet. Before the introduction of the latest support, the exchange wallet already supports Ethereum, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectables built on Ethereum. The latest feature further expand the reach and use of the exchange.
Coinbase is a digital currency exchange based in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin with fiat currencies in approximately 32 countries, and Bitcoin transactions and storage in 190 countries worldwide.