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Dav7
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January 14, 2019, 09:42:54 PM
Merited by dbshck (2)
 #1

After the announcement that US members could add their PayPal account to Coinbase and withdraw the dollar balance to the famous processor, now European members can also do it with no fees!

Despite my will of never get back to PayPal, I accept that it still is a very used processor and easy to work with for many countries.

Have you tried to use this integration to withdraw from Coinbase to PayPal?

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January 14, 2019, 09:55:45 PM
 #2

After the announcement that US members could add their PayPal account to Coinbase and withdraw the dollar balance to the famous processor, now European members can also do it with no fees!

Despite my will of never get back to PayPal, I accept that it still is a very used processor and easy to work with for many countries.

Have you tried to use this integration to withdraw from Coinbase to PayPal?


Just reading about this news and I must say its a great leap to everyone and more kudos to Coinbase. Irrespective of how a lot of people might want to castigate them, they are really breaking barriers for crypto. If there is any risky way to exchange crypto, its through PayPal that it's mostly discouraged due to it's reversal nature. Aside that, PayPal terms are always anti crypto to block any account used for trading with any traces of crypto. But with this, its just only going to get better.
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January 14, 2019, 10:20:36 PM
 #3

That is how they get you back at Paypal. I have swear too to not use it and then they make good deals for me that I cannot refuse. But it is a good thing for those leaving in the specified countries. Rest of the world should benefit too, PayPal should make that happen.

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January 14, 2019, 10:46:47 PM
 #4

Is it correct?? If yes, it's a great news for US and EU consumers. They won't have to rely on third party transfers like localbitcoins as the integration will make the conversion process a lot easier and the chance of getting scammed will be reduced to a great extent!

but on the other hand, consumers will have to compromise on identity. I don't think paypal will allow anonymous transactions. Everyone should go through their kyc process to be able to use this facility.

However, if we overlook this identity issue, it's certainly an welcoming step towards increased adoption. A lot of online merchants will be interested in accepting cryptos in their online store as this integration will solve the liquidity issue for them.

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January 14, 2019, 11:26:24 PM
Merited by dbshck (2)
 #5

Is it correct?? If yes, it's a great news for US and EU consumers. They won't have to rely on third party transfers like localbitcoins as the integration will make the conversion process a lot easier and the chance of getting scammed will be reduced to a great extent!

but on the other hand, consumers will have to compromise on identity. I don't think paypal will allow anonymous transactions. Everyone should go through their kyc process to be able to use this facility.

However, if we overlook this identity issue, it's certainly an welcoming step towards increased adoption. A lot of online merchants will be interested in accepting cryptos in their online store as this integration will solve the liquidity issue for them.
I don't find any news that EU consumers also can withdraw their crypto into cash through Coinbase to PayPal but for US country they are now supporting instant Paypal withdrawal available only for US customers.

You can check the Coinbase article from here Instant PayPal withdrawals now available for all U.S. customers

According to the Coinbase Blog post:
Quote from: blog.coinbase.com
Support for PayPal will be rolling out across more countries in 2019, so stay tuned.

It seems that they are planning to add more countries this year.

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January 15, 2019, 02:25:54 AM
 #6

I think it's very interesting. but I haven't tried it that way. coinbase and paypal make it easy for each of our transactions, we can enjoy coinbase and paypal services with maximum.

but I have bought BTC with small value in coinbase and paypal.

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January 15, 2019, 02:32:55 AM
 #7

but I have bought BTC with small value in coinbase and paypal.

you can't "buy" bitcoin in coinbase with paypal, you have to go elsewhere (off the market) and take the high risks associated with it because thanks to paypal's easy charge back option only shady people accept it as payment when they want to sell their bitcoin to you.

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January 15, 2019, 02:58:43 AM
 #8

but I have bought BTC with small value in coinbase and paypal.

you can't "buy" bitcoin in coinbase with paypal
Yes this is true, it didn't  mentioned that you can buy bitcoin on coinbase through paypal.

--> https://blog.coinbase.com/instant-paypal-withdrawals-now-available-for-all-u-s-customers-58b2958a13aa

This is only for withdrawals but I think in the future they might include it.

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January 15, 2019, 03:10:09 AM
 #9

Is it correct?? If yes, it's a great news for US and EU consumers. They won't have to rely on third party transfers like localbitcoins as the integration will make the conversion process a lot easier and the chance of getting scammed will be reduced to a great extent!

but on the other hand, consumers will have to compromise on identity. I don't think paypal will allow anonymous transactions. Everyone should go through their kyc process to be able to use this facility.

However, if we overlook this identity issue, it's certainly an welcoming step towards increased adoption. A lot of online merchants will be interested in accepting cryptos in their online store as this integration will solve the liquidity issue for them.

Honestly, if your using coinbase linked to bank account... that's already um - very KYC necessary from what I know.
Unless you know a different way through coinbase -> bank -> cash? please share!

Also, Coinbase already has some strong options for merchant adoption of crypto. This is something they have focused on in the past couple years.

So, I'm not seeing the necessity of merchants to use paypal instead of coinbase...
Except

I do see this being a great thing for P2P access!
Lots of people have paypal, and it is easy to use, fast transfers, and accepted nearly everywhere.

It really allows people to buy/sell crypto in a method most regular folks feel comfortable with.
Which is actually a huge thing in modern days. Until mass adoption of cryptos give people a sense of security, Paypal seems like a great addition for the normal average non-crypto-nerd-dork  Grin




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January 15, 2019, 07:22:47 AM
 #10

After the announcement that US members could add their PayPal account to Coinbase and withdraw the dollar balance to the famous processor, now European members can also do it with no fees!

Despite my will of never get back to PayPal, I accept that it still is a very used processor and easy to work with for many countries.

Have you tried to use this integration to withdraw from Coinbase to PayPal?
Well coinbase already announced it on their website so this is legit. However I will still not be able to try this since this is only available for USA and Europe and I'm from a country that coinbase buy and sell using coinbase are still not available. I guess they didn't include buying Bitcoin and other altcoins from paypal to coinbase because of paypal's chargeback. But if this will be available here in my country in the near future, I would still be choosing to withdraw my cryptocurrency earnings through remittances or directly to my bank account.
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January 15, 2019, 07:35:03 AM
 #11

If they do allow paypal that would be great because the function at virwox has been unavailable for weeks, and i doubt they will reinstate it. Some prefer paypal even though the fees are higher

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January 16, 2019, 07:52:15 AM
 #12

After the announcement that US members could add their PayPal account to Coinbase and withdraw the dollar balance to the famous processor, now European members can also do it with no fees!

Despite my will of never get back to PayPal, I accept that it still is a very used processor and easy to work with for many countries.

Have you tried to use this integration to withdraw from Coinbase to PayPal?


I wouldn't go back to using coinbase simply because they've expanded their no fee paypal withdrawals to European users, even if I lived in the permitted regions.

There are simply too many cons that outweigh the pros of using Coinbase. I recall their customer support being absolutely horrendous during 2017. A lot of people had issues with coinbase, and never received an on time response from them despite promises from Brian Armstrong himself to work on that field. Instead, they invested their time and energy into developing new features, as opposed to maintaining and satisfying their existing customer base.

Also, you're running the risk of getting your account suspended, or funds held/frozen. Coinbase has a track record of doing so with any suspected accounts, with or without proof. Add that to the fact that coinbase's rates and fees mean that the actual rate you get is most likely not going to be good at all.

While fee-free paypal withdrawals can't hurt, I think everyone knows the reputation of paypal as a payment processor especially within the crypto field. Most likely only a low percentage of crypto users use Paypal actively.

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