U.S. Cryptocurrency exchange Coinbase recently enabled zero charge withdrawals to users Paypal accounts for fiat currencies like USD, EUR, and GBP.

As reported, Coinbase hasn’t officially announced this update on either their website or on social media but has sent emails to many eligible users.

Free withdrawals can only be availed in a few select regions, like US, UK, EU, and Canada. However, users in Canada and Australia can’t withdraw through PayPal but are provided the option to sell their crypto for CAD or AUD respectively.

To enable this option, users will be required to fulfill all identity verification procedures and must have received the e-mail to avail.

Currently, only withdrawals are being facilitated with no further announcements on whether Paypal deposits will be accepted by the exchange.

Depending on country of residence. Since I live in United States my option available was to sell my crypto to my PayPal account. Great about it no fees included. Check out last year receipt i simply sell my crypto to my PayPal account pic.twitter.com/nENtvMvlS0 — S O N N Y (@sonnyleyba) November 28, 2018

The update came shortly after Coinbase’s recent $300 million Series-E funding and the addition of stable coin Circle to its exchange platform. The San Francisco based exchange also recently launched its own OTC Trading Desk for institutional investors.

Blockmanity’s Take

Coinbase might just be testing withdrawals with Paypal. Stay tuned for more news on this.

Image Source: Flickr

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