PayPal vs Coinbase: Which one is better crypto platform?

[Bitcasino.io Support]

Hello crypto fans,

Crypto payments are slowly making their way into mainstream use thanks to major companies adopting digital coins into their transactions.
At the forefront of this trend is PayPal, an American-based payment service app used by millions of people worldwide.

Right after PayPal, companies like Visa, and Mastercard followed along, allowing their users to transact using popular cryptocurrencies like Bitcoin and Ether.
This solidifies PayPal’s position in the crypto world as an industry titan that can help usher digital coin transactions into mainstream use.

With this in mind, how does PayPal fare in comparison with crypto exchanges that specialise in digital transactions?
Can PayPal rival Coinbase, the biggest and most popular crypto platform in the market? Let’s find out below.

What you need to know about the platforms

Coinbase

Crypto exchanges are a platform where users can transact and invest in digital coins. Since 2012, Coinbase has been offering its services to US crypto investors,
fine-tuning its features throughout the years to suit the needs of its users.

The platform is mainly geared towards beginners with an easy-to-navigate interface. Moreover, Coinbase offers a wide range of features and services that
focus on crypto investments, advanced trading, custodial accounts, and wallet storage.
Aside from that, the exchange offers a secure network where you can safely trade and transact with digital currencies.

PayPal

On the other side of the coin is PayPal. Although the payment solutions platform has served its customers for years through online payment and transfers,
its PayPal crypto services is still in its infancy.

Through the Venmo app, PayPal users are now allowed to trade and purchase crypto assets through the account’s funds. Since accounts can be linked to debit
and credit cards, you can seamlessly use fiat money to buy digital coins through the PayPal app.

Once you’ve topped up on your selected cryptocurrency, you can now purchase goods and services using crypto through your PayPal accounts.
Moreover, PayPal can also act as a custodian of your crypto investments. You can use your account as a wallet to store your digital coins, similar to one
of the key features of Coinbase.
 
Coinbase vs PayPal: Pros and cons

To take the PayPal crypto vs Coinbase discourse further, you need to understand the advantages and disadvantages of using each service provider.
Here are some of the pros and cons you need to consider when choosing which platform to use for your crypto transactions:

Coinbase advantages

The main appeal of Coinbase is its easy and user-friendly interface. You can check your transactions and crypto balance just by simply going to your
account and visiting the dashboard. Here, you’ll find data on crypto transactions and investment plans including market updates on the prices of each digital coin.

Moreover, Coinbase is a great platform for crypto trading and investments, especially if you're interested in various altcoins. There are 46 digital coin offerings
in the platform including Bitcoin, Ether, Litecoin, XRP, and LINK. You can purchase multiple digital coins as long as it's available on the platform.

There’s also a price alert feature that helps you monitor your investment if the digital currency goes above your target price or dips below it. Moreover,
coins stored in the exchange’s wallet are also insured in case of security breaches, so you will never have to worry about losing your funds.

Coinbase disadvantages

The most pressing disadvantage with the Coinbase platform is its high transaction fees since it also offers more convenience for traders. However,
you can lessen these fees simply by switching to Coinbase Pro, a version of the exchange with specialized features catered to more advanced crypto traders.

Another thing to consider with Coinbase is that it is only accessible through a browser. Currently, there are no Coinbase apps available for mobile devices.
You can still access it using your Android or iOS compatible phones through a web browser app.

PayPal advantages

When it comes to payment services, PayPal outweighs Coinbase since the platform allows account holders to seamlessly use crypto as means of payment in the app.
Additionally, the app can also act as a crypto wallet where you can hold digital coins supported by the platform.

With the app's recent crypto adoption, PayPal has an edge over Coinbase since users can now manage their digital assets as well as their fiat money
all in one platform. This offers more flexibility in the various payment methods users can access at any given time.

Moreover, the platform has state-of-the-art network security that protects your data from third parties. What solidifies its edge over Coinbase is its
mobile-friendly app that is compatible with both Android and iOS devices.

PayPal disadvantages

Unlike Coinbase and other crypto exchanges, PayPal can only accept 4 cryptocurrencies which are Bitcoin, Ether, Litecoin, and Bitcoin Cash.
Moreover, you can only access purchased coins using your PayPal account. There’s also a US$20,000 weekly limit for crypto purchase using your account.
This makes it hard for advanced traders to invest large amounts of money in digital currencies.
 
Final verdict on the PayPal vs Coinbase battle

Since PayPal is still a newcomer in the world of crypto transactions and services, Coinbase still holds an advantage when it comes to large digital coin investments.
Its platform is easy to navigate and specifically catered to traders with investment data accessible through the dashboard.

On the other hand, Coinbase also has its limitations, especially with day-to-day crypto transactions. This is where PayPal comes in handy since its platform
allows you to buy goods and services with digital coins you acquire through the app. In the end, while Coinbase has more features when it comes to
trading, there’s still a lot of room in the industry for PayPal to become its worthy rival in the near future.

Please share your thoughts which platform is better for you?

Thanks,
Karl from Bitcasino

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[virtualdn]

You're comparing apples with oranges. 2 different things, very different if you ask me. Each one has its own role even if they interfere, I like them both and I think they will both have a long life. Stick to both, why not.

Don't forget that PayPal is being used for crypto only in US. When they will open worldwide maybe we can make a better comparison.

[Kunotcoin]

Coinbase and Paypal the one started for cryptocurrency services "wallet and exchange" while the other one has originally intended for fiat (USDollar) online payment services and later on adopt the cryptocurrency services, the Coinbase listing on Nasdaq serves the best opportunity for Coinbase to become a mainstream cryptocurrency based company, which is good for them while Paypal is also developing its cryptocurrency services that's why we can expect more improvements soon in terms of Paypal crypto services all in all I can say that Coinbase is better than Paypal because they are ahead in terms of cryptocurrency services. 

[DeathAngel]

They’re both ok for noobs & or people who aren’t dealing with significant funds. I advise against leaving money on either platform for too long. Not your keys, not your bitcoin etc. Buy a Trezor or a Ledger Nano, hardware wallets are good, even Bitcoin Core is good if your computer isn’t used for anything else except bitcoin.

[Charles-Tim]

Since 2012, Coinbase has been offering its services to US crypto investors,

Moreover, Coinbase offers a wide range of features and services that
focus on crypto investments, advanced trading, custodial accounts, and wallet storage.

The Coinbase you specified about are providing custodial services, investors makes use of noncustododial wallets, preferably hardware wallets like Trezor for holding.

The most pressing disadvantage with the Coinbase platform is its high transaction fees since it also offers more convenience for traders. However, you can lessen these fees simply by switching to Coinbase Pro

Coinbase.com is a custodial wallet incorporated with exchange function, the ones regarded as an exchange is Coinbase Pro.

Another thing to consider with Coinbase is that it is only accessible through a browser. Currently, there are no Coinbase apps available for mobile devices.
You can still access it using your Android or iOS compatible phones through a web browser app.

Coinbase.com and Coinbase Pro both have android and iOS apps. You can check their apps out on app stores.

For Android:
Coinbase.com
https://play.google.com/store/apps/details?id=com.coinbase.android

Coinbase Pro
https://play.google.com/store/apps/details?id=com.coinbase.pro

Also the third which is Coinbase wallet that is noncustodial has app, but that does not still change the fact that it is a web wallet
https://play.google.com/store/apps/details?id=org.toshi

Additionally, the app can also act as a crypto wallet where you can hold digital coins supported by the platform.

Like I once implied, holders should make use of noncustododial wallets, hardware wallets like Trezor preferably, but online noncustodial ones are still not bad for low amount of cryptocurrencies.

With the app's recent crypto adoption, PayPal has an edge over Coinbase since users can now manage their digital assets as well as their fiat money all in one platform.

In my opinion, that is not an advantage so far you can convert your cryptocurrencies to fiat and fiat back to cryptocurrencies on Coinbase, this can be done in a way you can have acess to fiat.
Please one question:
Has PayPal allowed users to be able to send and receive Bitcoin and other cryptocurrencies supported, because it did not allow that before, you can only use PayPal to buy and sell, you can not use it to send and receive. Which means PayPal is depriving its customers of the real cryptocurrencies, it is like they users are still buying and selling fiats and nothing more. In fact, when it comes to Bitcoin and other cryptocurrencies, I hate PayPal.

[Obito]

To help you choose between the two, PayPal locks out their users when they feel like there is a suspicious activity when there really isn't any of it, they are just being overreactive and hyper vigilant.

[Charles-Tim]

To help you choose between the two, PayPal locks out their users when they feel like there is a suspicious activity when there really isn't any of it, they are just being overreactive and hyper vigilant.

Also PayPal can not be used to buy and sell Bitcoin and other cryptocurrencies, it is only used to buy and sell, which means their customers do not have access to the cryptocurrencies, they only have access to numbers. I only read in news they will soon support it, that their customers will be able to send and receive cryptocurrencies but not yet implemented.

Which means, if I want to use PayPal to send bitcoin or other crypto to a friend's noncustodial wallet, I can not. If I want to transfer from PayPal to a noncustodial wallet like Trezor, I can not.

[hosseinimr93]

Has PayPal allowed users to be able to send and receive Bitcoin and other cryptocurrencies supported, because it did not allow that before, you can only use PayPal to buy and sell, you can not use it to send and receive.

You are right. They don't allow users to deposit and withdraw bitcoin. But they have announced that they will allow users to do so in future. There is no detailed information about their plan and when they will implement this, off course.

Reference: PayPal Will Let Customers Withdraw Crypto, Exec Says

[Potato Chips]

To help you choose between the two, PayPal locks out their users when they feel like there is a suspicious activity when there really isn't any of it, they are just being overreactive and hyper vigilant.

It's prominent in CEXs and so happens with coinbase too, like for example, flagging a transaction as unusual when using a new address/device and this is coming from a wallet that changes their receiving address every time it is used...

A combo of several factors can get a transaction flagged as unusual, like if the funds are being sent to a new address or using a new device.

We'll delay the transaction and email to give you time to cancel it, or offer the opportunity to complete a "face match" verification.

In any case, the fact that it's not possible to send out bitcoins off paypal's platfrom alone makes coinbase way better than them, nuff said.

[stomachgrowls]

Has PayPal allowed users to be able to send and receive Bitcoin and other cryptocurrencies supported, because it did not allow that before, you can only use PayPal to buy and sell, you can not use it to send and receive.

You are right. They don't allow users to deposit and withdraw bitcoin. But they have announced that they will allow users to do so in future. There is no detailed information about their plan and when they will implement this, off course.

Reference: PayPal Will Let Customers Withdraw Crypto, Exec Says

Since those statements had been said then for sure that in near future they would really be allowing deposits and withdrawal of Bitcoin directly.

Going back into the topic in between Paypal and Coinbase? If we do just talk about their functionality and relevance then they do serve out on different

markets and we know that Paypal had just recently jump in into crypto bandwagon as Coinbase had been here on this business for how many years.

So making out comparison is a bit irrelevant for now and i agree on whats stated above that why would need to choose one if you can use both?

[adzino]

Both are shit to be holding your crypto currencies. They are both are centralized. None of them gives you access to your private keys. Don't forget, not your keys, not your coins. Paypal is even more bad because as far as I know, you don't actually buy any of those bitcoin. It's paypal. They hold it for you. You can't send those coins to any external wallet. You can only use it where paypal is accepted. At least coinbase lets you spend those coins as you wish.

To help you choose between the two, PayPal locks out their users when they feel like there is a suspicious activity when there really isn't any of it, they are just being overreactive and hyper vigilant.

What's stopping coinbase from doing that? They can lock your funds too.

[GreatArkansas]

If I have a business, I will start first using PayPal. Since we all know Paypal is already here before Coinbase so expect that there are currently a lot of PayPal users than Coinbase.
After that, if PayPal is already good, adding Coinbase may good choice so there will be other methods. I'm talking business sides here, like accepting payments for your goods or services.