December 27, 2018. The San Francisco-based digital currency exchange, Coinbase, is now supporting Paypal cash-out to its US resident users. This feature will also roll out to different countries and will also support “buy using Paypal” in the future.
Posted on the official Coinbase blog, it was revealed that the digital asset exchange is bringing back its support for Paypal withdrawal. This feature was disabled early 2018 due to technical issues and now that its all ironed out, the team decided to put it back.
“there is new functionality that was improved from the prior one, … There is new technical work to make this possible, and that was done in conjunction with PayPal.” – Coinbase Spokesperson
This coming back feature lets US-based Coinbase users withdraw their cryptocurrency funds directly to their Paypal account without occurring additional fees. It is also an additional alternative to withdraw funds aside from the current traditional federal wire and automated clearing house (ACH) network.
According to the official blog post, the exchange will also roll out this feature to additional countries in 2019.
Recently, a new feature has been added in the exchange that will let its users trade the cryptocurrency they own to another cryptocurrency. This has been rolled out on December 17, 2018 and will let users convert one cryptocurrency to another.
This feature will be called Coinbase Convert and is available on Coinbase(dot)com, its Android, and iOS apps. Traders are expected to see bitcoin trading pairs with a direct conversion to bitcoin cash, ethereum, ethereum classic, litecoin, and 0x.
“I think one of the things that was most surprising was seeing a lot of customers frustrated because they wanted to use the product immediately [but] it required two trading fees,” – Ms. Anna Marie Clifton, Product Manager, Coinbase
With the launch of Coinbase Convert, the exchange aims to solve this frustration by giving what the users need. The feature is also expected to be available to different countries. According to Ms. Clifton, the company strives to continue “iterating on the product and expanding the functionality.” and a good number of customers will have this function available soon.
This article first appeared on BitPinas: Coinbase Now Supports Paypal Withdrawal