On the 5th day of the 12 Days of Coinbase event, the team at the exchange has announced that its customers in the United States can now withdraw cash balances to PayPal at zero cost. This new feature is available immediately and is aimed at providing users with faster access to their funds through the time tested PayPal platform. As earlier mentioned, there will be no fees incurred for withdrawing to PayPal.
This new method is an alternative to the only available method of withdrawing to a bank account. This usually takes days. The team at the exchange explained this as follows:
PayPal offers U.S. customers an alternative. Before today, you needed an ACH or Federal Wire account to withdraw funds. These traditional finance networks can add up to two business days to a withdrawal.
We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.
How to Set Up PayPal Withdrawals
Users of the exchange simply have to log in to the platform and link their PayPal accounts to their Coinbase accounts. After that, users need to select their PayPal account as a payment option when withdrawing funds.
PayPal Withdrawals in Other Countries Outside the US
The team at the exchange also notified users that PayPal withdrawals in other countries where Coinbase is available, will be rolled out in 2019.
7 Days Left in the 12 Days of Coinbase Event
This PayPal announcement marks the 5th day of the 12 Days of Coinbase Event that the exchange has organized for its customersas we approach Christmans. The event includes the exchange making announcements that cater for the needs of its loyal customers.
Crypto traders are particularly keen to find out if the exchange will list more digital assets in the coming days. Of particular interest to many traders, are the digital assets of XRP, Stellar (XLM) and Cardano (ADA).
Many crypto traders believe that a listing on Coinbase for these 3 digital assets, would be the perfect Christmas present that will send their values to a higher level.
What do you think about the new Coinbase withdrawal feature to PayPal now available for US residents? Will it make cashing out easier? Please let us know in the comment section below.
[Image courtesy of @Coinbase]
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.