Since its launch, cryptocurrency has faced many challenges. Market experts questioned its authenticity, reliability and also its acceptability.
Though it took quite a few years for the consumers and brands to mainstream its usage, over time, cryptocurrency is now openly accepted.
The high potential of these digital tokens as they ensure confidentiality, secure transactions and immutable records make these cryptocurrencies an evolution of the traditional paper currencies.
However, one significant doubt that arises in the process of cryptocurrency development is about its liquidity.
There are many payment gateways that deal in encashing the cryptocurrencies for fiat money. One such medium is PayPal. This article covers how to withdraw cryptocurrency to PayPal.
Cryptocurrency Exchange Platform
Transferring cryptocurrencies to your PayPal or bank account is not a hectic job. However, it requires an exchange to do so. With the increase in craze in the newfound cryptocurrencies, the number of cryptocurrency exchange platform is also increasing.
Coinbase is one such exchange platform that offers the convenience to withdraw cryptocurrencies. Thoughtfully designed by Brian Armstrong and Fred Ehrsm almost 7 years back, Coinbase delivers a user-friendly crypto exchange platform with its easy to use interface.
What makes it even more interesting is the fact that it allows the exchange of various currencies securely. With a minimum trading charge, you can withdraw the cryptocurrency into your PayPal account that makes it a cost-efficient alternative like many other reliable crypto exchange platform.
Before you withdraw cash in your PayPal account, you first need to link the crypto exchange platform (Coinbase in this case) to your PayPal account.
To know about how to link the crypto exchange platform to the PayPal account, keep reading this article.
Related Blog: – Building A Cryptocurrency Exchange Like Binance
Integrate PayPal and Coinbase
First, you need to access your Coinbase account. This can be done either using a desktop or laptop or via a mobile phone.
After logging into your Coinbase account’s wallet, go to settings.
In the settings, you will find a tab, namely ‘Linked Accounts’. After selecting ‘Linked Accounts’, go to the section ‘Link a New Account’.
This section will display various payment gateways. Scroll down and select PayPal. It will redirect you to the PayPal login page.
After you enter your login credentials, it will ask you to grant permission for the Coinbase to access the money transfer operation. Clicking on ‘Agree’ will merge both the accounts, i.e. the Coinbase and the PayPal.
Now your PayPal account is all set to withdraw the cryptocurrency from the crypto exchange platform.
Withdraw Cryptocurrency from PayPal
After you successfully integrate your Coinbase account with PayPal, work is already done. Now you need to withdraw the funds into your PayPal account.
Withdrawal of the cryptocurrency from PayPal is easy. You just need to follow these simple steps-
Go to the Coinbase toolbar. Select the option ‘Buy/Sell’.
Now, from the ‘Sell from’ section, choose the crypto wallet you want to withdraw funds from.
On the ‘Deposit to’ tab, select PayPal.
Next step involves verifying transaction details. There is also the provision for viewing a detailed summary. To see the complete overview, go to the ‘Account’ section that can be found on the toolbar. The total amount of money transacted will be displayed here.
Click on ‘Confirm Sell’. This will initiate the transfer. Either instantly or within a few seconds, the amount will be displayed on your PayPal account.
You can also transfer the funds into your bank account by following the basic instructions provided by PayPal.
General Information on PayPal Transfer
Payment gateways like PayPal with their fusion with the cryptocurrency development services have increased the value and the reliability of the users for these blockchain-powered digital tokens.
Currently, the provision for instant transfer of funds is available to the users based in the U.S. only. The facility accounts the transfer procedure to be a quick process, taking a fraction of seconds.
The transaction fee charged on account of transfer of funds is $ 0.25 on each transaction.
With the easy withdrawal of funds, an increase in the cryptocurrency development services has been noticed.
In the initial years, withdrawal of funds was a bit challenging, and it prevented a major chunk of the users from trying these digital currencies. However, over these years, many crypto exchange platforms have been introduced in the market, making it reliable.
PayPal has been an active platform to withdraw money from the crypto exchange platforms. This article covers how to withdraw your funds to the PayPal account, which further has the capability to transfer the amount into your bank account.
Investing in cryptocurrency development can be an intelligent option for your business to expand its operation and the integration of payment gateways like PayPal have contributed in amping up the blockchain game.
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