PayPal and Coinbase have officially teamed up. This morning, the popular cryptocurrency exchange announced it would now offer PayPal withdrawals to its users in the EU.
Coinbase customers in EU and European Free Trade Association countries can now withdraw funds to PayPal accounts. Sign in to Coinbase and link your PayPal account today to get started. https://t.co/tkOKXSQDoh
— Coinbase (@coinbase) February 5, 2019
Coinbase and PayPal in the EU
Last year, the cryptocurrency exchange announced the support of PayPal in the US and last month it rolled out this feature to its US users. Back in 2016, the popular exchange rolled out its PayPal feature but quickly terminated the service due to technical issues.
Not all countries in the EU will have support with Coinbase and PayPal though. Only European countries in the European Free Trade Association will have access to this new feature.
Those countries include:
- Switzerland
- Iceland
- Norway
- Liechtenstein
Before the PayPal option became available, these countries only had SEPA and UK Faster pay options before. Coinbase states it seeks to have the safest and easiest transfer preferences. While the service may not be in all European countries just yet, the cryptocurrency exchange announced it is working on expanding its support this year.
>> QuadrigaCX Can’t Access $190 Million in Crypto After Founder Dies
If you are in the countries that are supported, to set up the feature all you need to do is sign into your Coinbase account and link your PayPal account.
Expansion
Over the past few months, the cryptocurrency exchange has sought to diversify its cryptocurrency support. In December, the exchange announced it is exploring adding 30 different cryptocurrencies to its platform. Coinbase is far behind the other major cryptocurrency exchanges for the number of tokens it offers clients.
Most major exchanges initially offered crypto-to-crypto trades, which boosted the number of tokens it offered on its platform. Only until recently did Coinbase offer crypto-to-crypto transfers. Now, it’s looking to boost its portfolio in order to compete with the largest Asian exchanges. With its PayPal expansion, Coinbase is moving in the right direction.
Featured Image: Twitter
