World’s leading cryptocurrency exchange, Coinbase, is now supporting payments using PayPal . However, for now it is available only to its US customers. Coinbase customers in the country are now able to purchase top digital coins including Bitcoin, Ethereum, and Litecoin using PayPal.
Coinbase also supports other conventional payment methods like Wire Transfers and Debit and Credit cards. However, using PayPal makes it easier to purchase cryptocurrencies. Also, it’s relatively quicker. For now, Coinbase has capped the maximum limit you can spend using your PayPal account at $25,000 a day.
The addition of PayPal to Coinbase is highly significant. It is indeed an indicator of cryptocurrency inching towards becoming mainstream. PayPal CEO Dan Schulman is highly supportive of decentralized digital tokens. He has been openly endorsing cryptocurrencies. PayPal now also allows users to checkout with cryptocurrencies.
Moreover, a PayPal owned payment services provider Venmo is also planning to expand support to cryptocurrencies. By the end of the year, it is expected to allow users to checkout using cryptocurrencies.
Corporate America and tech tycoons like Elon Musk and Twitter CEO Jack Dorsey have also joined the club of crypto supporters. All these recent tangible developments should not be seen in isolation with these top minds embracing the idea of permission-less decentralized tokens. Soon, people in the US will also be able to buy a Tesla Car using Bitcoins.