Users often turn to crypto exchanges looking for the best platform to perform their cryptocurrency operations. Each individual trader or investor may have a differing definition of what the “best platform” may offer, but most within the industry agree on the notion that Coinbase qualifies as one of the top such networks.

In the same vein, users got welcome news this week, as well, regarding the American-based cryptocurrency exchange. Now, they will have another mean to withdraw their money earned in crypto transaction: the online, P2P payment system PayPal has been introduced as the newest way to get money out of the platform, according to an announcement made on December 14th.

No-fees Withdrawals

The option to withdraw funds to the users’ PayPal accounts will involve no fees as well. The service will be available as of now to US-based investors, with other nations to be included as well for next year. The platform did not specify the precise moment.

The alliance between PayPal and Coinbase actually started in 2016, but due to “technical difficulties,” the latter stopped offering the option. At the time, Coinbase users could sell Bitcoin assets and receive fiat money deriving from those transactions in their PayPal accounts.

Hence, Coinbase keeps broadening its catalog of features and offerings, cementing its place among the best cryptocurrency exchanges in the planet. A few days ago, it began toying with the idea of offering trading support for 31 additional digital assets, and among the proposed cryptocurrencies are Ripple (XRP), EOS and Cardano (ADA.) According to the release, Coinbase “will be working with local banks and regulators to add them in as many jurisdictions as possible.”

More Announcements

A couple of months ago, the platform made plans public about a new process that would let it list more cryptocurrencies in a faster way. Those with intentions of submitting tokens at the page through the new approach will need to use a special form, eligible for evaluation by the exchange’s staff.

Coinbase keeps innovating and keeping up with modern times. An additional proof of that is the launch of over-the-counter(OTC) trading for institutional customers. Christine Sandler, Head of sales at the platform, stated that the plan was to combine the OTC service with CoinbaseCustody, this is, a crypto custodian tool for institutional investors that saw the light in July.

PayPal wants to keep up with the recent trends, as well, filing a patent with the U.S. Patent and Trademark Office (USPTO) with the intention of increasing speed of crypto payments, in the form of an “ExpeditedVirtual Currency Transaction System.”

A little bit more about PayPal

PayPal is a platform that allows users to pay for goods, items, and services online via electronic money transfers, serving as an alternative to traditional, tangible methods such as cheques or money orders. It is a US-based company, but it operates worldwide.

A little bit more about Coinbase

An American cryptocurrency exchange, Coinbase has its headquarters in the city of San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin (with other coins on the way) with fiat currencies in 32 nations. The platform allows bitcoin transactions and storage in 190 countries. It was created in 2012.

By Andres Chavez


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