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Coinbase Adds PayPal As Payment Option For U.S. Users

April 30, 2021 (updated April 30, 2021)

“Coinbase now allows users in the US to buy and sell bitcoin and other cryptocurrencies via an integrated PayPal account. Previously, users could only purchase bitcoin from the exchange using either ACH or wire transfer via a connected bank account. PayPal-linked credit cards can’t be used, there’s a purchase limit of $25,000 per day for PayPal users and the exchange will charge 3.99% fees.”

-It’s hilarious to see PayPal come full circle. They banned buying bitcoin from their platform really early on, but it’s now apparently too lucrative to ignore.
-Those fees are insane. (2.5% for deposits, 4% for direct purchases).

What do you think is bullish? Will people be using it?

As I have seen a lot of people complaining about the fees and not letting middleman(PayPal) handle the transactions.

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People who are longer than few months in crypto will never use Paypal to buy Bitcoin on Coinbase because they would put that BTC in custodial black hole, and you can't spend or send that coins anywhere from your Paypal account.

Second problem I see here is limitation for Paypal/Coinbase to buy maximum $25,000 worth coins per day, that is around 0.46 BTC currently, not enough for many serious investors, and fees could also be lower than they are now.
Paypal needs to change their policy and give more power and private keys to customers if they want to see the real growth, make more profit and see wider crypto adoption, but I guess they don't care about that so much.
2 weeks ago