Want to know how to withdraw from Coinbase to PayPal? Then, continue reading our step-by-step guide to find out how you can use this method.
Crypto Deposit/Withdrawal. Deposit/Withdraw Guide. How do I Deposit/Withdraw Cryptocurrency Crypto Withdrawal Fees on Binance About Segregated Witness (SegWit). 5 Ways to Instantly Withdraw Crypto Cryptocurrency is well on its way to legitimacy with an ever-increasing number of users and applications. For all of its advantages, though, crypto isn't always the most convenient asset. Many stores don't accept crypto payments, so users must withdraw it as a fiat currency to complete transactions.
Crypto users are faced with many difficulties when it comes to payment options on broker or exchange platforms.
While many platforms and services accept direct fiat deposits, most are not so keen on fiat withdrawals, especially those to PayPal accounts. Through its partnership with PayPal, Coinbase has enabled its customers to withdraw cryptocurrency to PayPal.
About Coinbase
Coinbase is a popular US-based cryptocurrency exchange and broker, which is widely regarded as a safe and reliable service for buying and selling digital assets. In terms of daily trading volumes, Coinbase is among the top exchanges.
It was established in 2013 by Brian Armstrong and Fred Ehrsam. The platform's interface was developed to be easily accessible by novice traders. Coinbase is a fully regulated exchange and requires ID verification when registering for an account. The exchange charges fees that are more expensive than the market average.
The platform does not currently support account deposits using PayPal accounts. The only available option now is to withdraw funds.
How to Withdraw from Coinbase to PayPal: Step-by-Step Guide
Step 1: Log in to your Coinbase account
You will have to first log into your Coinbase account with your username and password. Both computer and smartphone users are able to access their accounts via any browser. If you do not have a Coinbase account, you will be required to create one and comply with the company's ID requirements.
Ensure that you have completed all identity verification steps needed and that your listed country has been correctly selected.
Step 2: Integrate your PayPal account with Coinbase
- Now that you are logged in click on 'Settings' in your Coinbase account to start integrating your account with PayPal.
- Next, you will have to click on the 'Linked Accounts' section, which is above the overview tab.
- Click on the 'Link a New Account' button.
- Select PayPal from the list of provided services.
- You will then be redirected to the PayPal website. You will have to log into your PayPal account with your credentials.
- Now click on the 'Agree' button to give Coinbase authority to your PayPal account.
Mobile users will have to click on 'Settings' and then on the 'Add a Payment Method' button. The next steps are the same as those featured in the desktop version.
Congratulations, you have linked your PayPal to your Coinbase account. Keep in mind that you are able to link your PayPal account to only one Coinbase account.
If the option to add PayPal as a payment method does not appear in your account, it is because this feature is not supported in your region.
Step 3: Withdrawing funds to PayPal
- As you can only deposit fiat into your PayPal account, you will have to exchange currencies.
- Click on the 'Buy/Sell' button on the Coinbase toolbar from your Dashboard.
- Click on the 'Sell From' button.
- Select the crypto wallet from which you will be sending the funds.
- Go to the 'Deposit To' section and select your PayPal wallet.
- Select your desired crypto and send it to one of your EUR or USD wallet on Coinbase. Keep in mind that you will be charged a fee for this conversion.
- Next, verify your transaction details and click on the 'Confirm Sell' button.
- Wait for your transfer to be confirmed.
- Now go to your EUR/USD wallet and click on 'Withdraw.'
- Select the option to withdraw to PayPal and enter the desired amount for your withdrawal.
- Click 'Continue.'
- Confirm your withdrawal after you have received the message from Coinbase that the process has been completed.
Step 4: Remove your PayPal account From Coinbase
If you want to remove your PayPal account from Coinbase, know that it is easier than linking it.
- From your Coinbase account, go to 'Settings' and then click on the 'Linked Account' button.
- Now just click on the 'Remove' button featured next to your PayPal account.
- A pop up will appear to confirm the process, and you will have to click again on 'Remove'.
Fees and other Issues
Coinbase users that are based in the United States have the option of accessing PayPal's Instant Transfer. This means that users will have their funds credited into their PayPal accounts instantly, but they will be charged a fee of 3.75% form the total amount of the transaction.
Another downside is that Coinbase has some of the foreign exchange fees in its industry. The platform applies a conversion fee of 5%. This would mean $500 for converting $100.00 worth of crypto. This is one of the biggest disadvantages of using Coinbase to withdraw to PayPal, as the fees are not only high on their own, but they also add up and take away a large portion out of your funds.
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You have to take into account the fee applied to the spread of the transaction:
'We also charge a Coinbase Fee (in addition to the Spread), which is the greater of (a) a flat fee or (b) a variable percentage fee determined by region, product feature and payment type. The flat fees are set forth below:
- If the total transaction amount is less than or equal to $10, the fee is $0.99.
- If the total transaction amount is more than $10 but less than or equal to $25, the fee is $1.49.
- If the total transaction amount is more than $25 but less than or equal to $50, the fee is $1.99.
- If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99.'
There is the problem of waiting for weeks to migrate your funds from PayPal into your bank account. PayPal has also increased its fees, which in most cases exceed those charged by most big banks.
It is worth to know that there have also been many complaints regarding PayPal's freezing of user accounts without providing a reasonable explanation and not complying with regulations set by banking authorities.
Conclusion
Can You Withdraw Crypto From Robinhood
This has been our guide on how to Withdraw cryptocurrency to PayPal, and we hope that the information provided will be of help to you in your trading endeavors.
Featured image: DFID.org
Making cryptocurrency payments more convenient has not been an easy task for many companies. Consumers often face challenges while trying to find platforms that accept payments in the form of digital currencies. Shop owners still do not see the benefit of such payments. However, Coinbase has developed a brilliant solution to this problem. Below is the method to withdraw cryptocurrency to PayPal.
Started With Coinbase
Coinbase—an American based cryptocurrency exchange platform has grown in popularity thanks to its various services. As regards to daily trading volume, this exchange remains among the leading exchange platforms, with a $160 million on average.
Coinbase was launched by Brian Armstrong and Fred Ehrsman about 7 years ago and boasts a friendly user interface. Newbies in the crypto industry can exchange different currencies at ease on the platform. Furthermore, users enjoy a safety guarantee alongside minimal trading charges.
Additionally, the platform has always strived to set itself apart from other exchanges by making crypto transactions extremely easy. Coinbase users can easily withdraw funds from the platform and transfer the same into their bank accounts within days. And now, Coinbase has added more features to cut this waiting period from days to minutes.
The popular cryptocurrency exchange platform allows you to withdraw cash directly into your PayPal account. Thanks to this, users can use the Instant Transfer feature using their debit cards to receive their funds instantly for a small fee of $0.25, which is much better and more convenient compared to withdrawing cash from your Coinbase wallet into your bank account.
Just to confirm, this feature does not allow you to purchase any cryptocurrency from your PayPal account. Hopefully, this will be available soon, but at present, you can only withdraw funds into your PayPal, which is still great!
Before we move into withdrawing into your PayPal account, let's first understand how to add your PayPal account to Coinbase.
Adding Your PayPal Account To Coinbase
Before adding your PayPal account to Coinbase, you have to log in. You can use a browser on your smartphone or computer. And you can only perform this transaction from your Coinbase wallet.
After accessing your Coinbase wallet through your browser, log into your wallet. Once you've logged in, go to 'Settings', this is found at the top of the window.
While in the settings, click 'Linked Accounts', you'll find this at the top tab, then click, 'Link a New Account' to move forward.
From there, you'll see a list of account options that will pop up, click 'PayPal'. After this step, you'll be redirected to the login page of PayPal. Log in using your email and password.
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Once you're in your PayPal account, you'll be directed to a confirmation page where PayPal will ask you to allow Coinbase access to money transfers—click 'Agree' to link both accounts.
After successfully linking your PayPal to your Coinbase account, go back to your Coinbase account.
You can now withdraw funds from Coinbase to PayPal very easily.
How To Withdraw Cryptocurrency To PayPal
To withdraw funds from Coinbase to PayPal, select the 'Buy/Sell' option on the Coinbase toolbar (on the right Dashboard), and select 'Sell'. On the 'Sell From' section, select the wallet you want to transfer the funds from, and select your PayPal wallet in the 'Deposit To' section.
The next step is verifying the transaction details. Additionally, if you want to see the payment details further, click on the 'Account' section from the toolbar. ‘From here, you can see the total amount of money transacted. You will then click 'Confirm Sell' option.
If all the systems are right, the funds will reflect in your PayPal account instantly or after a few seconds.
From here, in case you want to transfer your PayPal funds into your bank account, just follow the instructions provided by PayPal.
The Instant Transfer feature provided by PayPal is available to U.S-based users and ensures that funds are transferred to one's bank account in minutes, with a $0.25 fee for each transaction.
How To Remove Your PayPal Account From Coinbase
Grand eagle casino no deposit codes 2018. Unlinking your PayPal account from your Coinbase account is a lot easier compared to linking both accounts. This can be done through your Coinbase account.
To do so, just log into your Coinbase account, go to 'Settings' at the bottom of the window, then click 'Linked Accounts'.
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From here, simply click the 'Remove' button that is placed next to your PayPal account, then click 'Remove' on the confirmation box that will pop up.
Major Concerns
PayPal has been on the spot for freezing users' accounts at its whim and failing to follow regulations set by banks. This has seen the company receive many complaints from its users.
Additionally, the payment platform has one of the highest foreign exchange fees in the sector. For instance, the platform charges 5% for converting currencies. This means that it will cost you a whopping $50 to convert $1000!
Now we understand how the company made profits of $13 billion in 2017.
Apart from high foreign exchange fees, users are forced to wait up to a week to withdraw funds from PayPal into their bank accounts. Additionally, the company continues to increase its fees, which are often higher when compared to the transaction fees charged by most high street banks. As such, PayPal users may end up migrating to cryptocurrency transfers where the transaction is virtually instant and cheap.
How To Withdraw Crypto Currency
Similarly, Coinbase seems to have joined PayPal in charging very high fees, as well as zealous account controls. As a result, many users have complained about the platform.
Card odds texas holdem. This exchange is among the most popular exchanges, thanks to its support for several cryptocurrencies, as well as its daily trading volume.
The integration with PayPal to allow users to withdraw funds is a major step for both platforms, and it proves that PayPal is finally warming up to cryptocurrencies. Nonetheless, there are many improvements that need to be made to ensure the process is perfect.
For instance, the platform should allow users to deposit funds to attract more users.
Conclusion
There is a ways to go before cryptocurrency is integrated with major payment systems around the world. However, there are ways for crypto users to move funds through PayPal as outlined above. As more adoption takes place, other financials institutions and services will likely allow for this as well.
We hope the guide on How To Withdraw Cryptocurrency To PayPal has been helpful for you!
