A recent announcement by Coinbase shows the firm has included Canada to the list of countries which can withdrawal directly to their PayPal account. This comes as more of a blessing than a surprise, as Bitcoin to PayPal transactions are one of the many stepping stones towards mainstream adoption.
Prior to this time only Coinbase users in the United States and E.U. can withdraw to PayPal, while they still do not offer PayPal to Bitcoin transactions.
According to the announcement;
“Support for PayPal provides immediate access to funds through one of the world’s easiest and most widely-used payment platforms. Transferring sale proceeds into a PayPal account is fast and free — customers will incur no fees for such transfers.”
How To Withdraw Bitcoin To PayPal
Only account holders on the Coinbase Platform can go through this process. Users need to log into their accounts with valid user details as indicated at account registration stage.
After a successful login, user should locate the “Settings” option on the screen. Settings can be located among the menus right below the Coinbase logo.
On the settings page, user should locate the “Linked Accounts” tab.
At this point, a “Link a New Account” button would be visible at the right side of the screen.
The “Link a New Account” button allows users add any of the deposit and withdrawal options available to Coinbase users on the platform.
As briefly mentioned, the option to fund your Coinbase account using PayPal isn’t possible, but users can easily swap their crypto assets on the platform to fiat through PayPal.
When PayPal option is selected from the list available methods, user is asked to enter his/her valid PayPal login details.
A successful login takes user a page he/she is asked to grant Coinbase access to PayPal. The agree button should be clicked and user will be approved and returned to Coinbase.
To confirm if PayPal has been successfully added, user should go through the process again to the “Linked Accounts” tab. User’s PayPal account should be listed at this point.
Removing PayPal From Coinbase
Removing a PayPal account is similar to adding one. User should make their way to the “Linked Accounts” tab once more and click the “Remove” button next to their PayPal address(es).
Coinbase will proceed to confirming this action to prevent unauthorized removal requests.