The cryptocurrency exchange and platform Coinbase announced it is now supporting PayPal for withdrawals in Europe. The decision was taken just a few months after announcing support for PayPal withdrawals for US customers. The information was released by the crypto platform in a blog post on February 5.
Coinbase Supports PayPal Withdrawals
Back on December 2018, Coinbase announced that U.S. customers could make free instant USD withdrawals to their PayPal accounts. This was the first integration between the fintech giant and the crypto platform. Now, European users will be able to use the same services.
According to Allen Osgood, Product at Coinbase, the process to perform the withdrawal is very simple. Users just have to sign in to Coinbase and link the PayPal account to their Coinbase account. After it, every single time a user would like to make a withdrawal through PayPal they would just have to select this option.
At the same time, users that are not in the U.S. the European Union or the European Free Trade Association might have the possibility to enjoy PayPal withdrawals in the future. Apparently, the exchange is working on the matter.
About the new withdrawal method, Osgood commented:
“Before PayPal, SEPA and UK Faster Payments were the only options for European customers to withdraw funds. Part of our commitment to being the safest and easiest is to support the preferred transfer options for our customers around the world.”
Coinbase is trying to offer better services for users trading on the platform. It has been very difficult for the exchange to be able to remain competitive during this year-long bear market. This integration with PayPal will offer a new way of withdrawing funds.
At the same time, the platform has recently added support to several new digital currencies. Some of these ERC-20 coins are giving users the possibility to trade new cryptocurrencies. In the market, there are several platforms that offer more than 400 different trading pairs. Coinbase was usually providing support to the most recognized virtual currencies. Some of the new coins added are MANA or CIVIC.
According to CoinMarketCap, Coinbase is the 46th largest digital currency exchange. In the last 24 hours, the Coinbase Pro platform registered a trading volume of $42.24 million.