This new feature is immediately available and aims to give users quicker access to their funds via the time-tested PayPal platform. As mentioned earlier, there will be no withdrawal fees for PayPal.
This new approach is an alternative to the only method available to withdraw from a bank account. Usually, this takes days. The Exchange Team explained the following:
PayPal offers an alternative to US customers. You had to have an ACH or Federal Wire account before today to withdraw money. These traditional financial networks can withdraw for up to two business days.
We are always looking for ways not just to meet the traditional finance bar, but also to raise it. That is why we have re-built our integration to ensure that PayPal withdrawals are quick and reliable.
Exchange users simply have to log in and connect their PayPal accounts to their Coinbase accounts. Users must then choose their PayPal account as a payment option when they withdraw funds.
The exchange team also informed users that PayPal withdrawals will be made in 2019 in other countries where Coinbase is available.
This PayPal announcement marks the fifth day of the twelve Coinbase event organized by the exchange for its customers as we approach Christmas. The event includes announcements to exchange information that meets the needs of its loyal clients.
Crypto dealers are especially keen to find out whether the exchange will list more digital assets in the next few days. The digital assets of XRP, Stellar (XLM) and Cardano (ADA) are of particular interest to many traders. Many crypto traders believe that a Coinbase listing for these 3 digital assets would be the perfect Christmas present to raise their values.