Coinbase Allows PayPal Withdrawals For European Customers
Coinbase makes the crypto enthusiast community in Europe really happy with the latest announcement.
The crypto exchange just added support for PayPal withdrawals for the customers in Europe.
The US and Europe customers can enjoy PayPal withdrawals
Coinbase has initially revealed that the US customers can make free instant USD withdrawals to their PayPal accounts back on December 14, 2018.
CryptoGlobe reports that a blog post by Allen Osgood who is a project manager at Coinbase said that up to December 14, the US customers, “needed either an ACH or a Fedwire (formerly known as the Federal Reserve Wire Network) account to withdraw fiat (USD) from their Coinbase account. Unfortunately, using such traditional financial networks means that withdrawals can take up to two business days.”
Coinbase’s support for the customers in the US meant that from start date on, they became able to withdraw Coinbase balances on the spot to PayPal without paying a 1.49% withdrawal fee.
In order to start using the new service, users were required to sign in to Coinbase and link their PayPal account to their Coinbase account.
Then they had to select their PayPal account as their payment option when withdrawing cash balances.
Now, the same feature is available for Europe customers as well. From now on, Coinbase “is expanding that support for PayPal withdrawals to all E.U. customers and customers in European Free Trade Association countries,” according to the official blog post.
Coinbase, included in Forbes Fintech 2019 list
In other news, Coinbase was mentioned as one of the most promising and innovative fintech companies by Forbes.
The reputable publication included Coinbase alongside Ripple, Circle, Gemini and more in their the Forbes Fintech 2019 list.
Forbes wrote that these blockchain companies that have been included in their list would “undoubtedly form some unusual alliances as they evolve past competing against other blockchain startups, to competing in mainstream finance against long-established players.”
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.