Coinbase PayPal Withdrawals Now Available in Europe

Coinbase PayPal Withdrawals Now Available in Europe
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Coinbase has for quite some time been at the forefront of being able to deliver retail user level adoption for cryptocurrency, and their recent initiative to expand horizons to integrate with seamless payment platforms such as PayPal comes at no surprise. While Coinbase initially had launched PayPal integration for withdrawals only and had started initially through working with North American customers and institutions first, the San Francisco-headquartered cryptocurrency giant has now announced that they are expanding the PayPal platform integration option to countries in Europe as well. In total, the new PayPal expansion option will target over 32 countries,  as announced by Coinbase in their recent blog post.

 

Adding Accounts – PayPal Now Active

Coinbase’s 2017 user vs time graph | Credit: Alistair Milne

For those knowledgable within the cryptocurrency space, and even those who aren’t absolute veterans to the technology, one thing is for sure; Coinbase is the biggest cryptocurrency exchange online and seems to have taken up a skill in their ability to attract cryptocurrency users and help to spread adoption. The payment platform initially served as a one-stop exchange where users could link a bank account or bank card and purchase cryptocurrency immediately. They have, arguably since their inception, been pushing the frontier when it comes to retail level adoption of cryptocurrency. Coinbase has offered tools and solutions for merchants around the world, and even users who simply want to accept cryptocurrency on their platform. The most recent influx of effort has seemingly come from the ideology of integrating PayPal into the platform for easy withdrawal – users can now indeed buy and sell bitcoin with Paypal.

For some time now, the greatest edge believably on Coinbase was the ability you were granted by being able to easily add “accounts” to your Coinbase bitcoin trading platform. Their streamlining for the integration was rather straight forward: pick an option, enter details, confirm, and done. Now, by adding PayPal into the mix, the initiative is even easier. By offering withdrawal options with PayPal, Coinbase has enabled a new wave of utilization for users that may be skeptical, and rightfully so as many platforms within cryptocurrency have shown a rather foggy nature, and simply want to link an existing payment platform such as PayPal. Now with European availability, Coinbase can offer over PayPal withdrawal options for over 32 countries.

 

Pushing the Boundaries Even Further

Coinbase has shown their relentlessness when it comes to pushing the boundaries within cryptocurrency.  From institutional level products and retail level exchanges that enable integration for market makers through “Coinbase Pro”, to stretching the amount of verified and legitimate cryptocurrency that is enabled within the platform through what they call “baskets”, and now enabling PayPal withdrawals, the payment processing giant, Coinbase is motivated. Time will tell whether or not enabling PayPal withdrawals was the correct move in order to spread larger adoption of cryptocurrency and retail usage, however, Coinbase seems confident; otherwise, why would they have expanded the initiative to over 32 more countries?

About John

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John Iadeluca is the founder of the Wall Street hedge fund Banz Capital. He's a blockchain developer, quant, and consultant that specializes in the digital asset sector.