 |
| Bitcoin purchase process |
The process of buying bitcoin, although it may seem easy to some, is complicated, especially if you live in countries other than the United States of America mainly. Previously, we brought up an article explaining how you can buy bitcoin using PayPal balance or a bank card.
But now, the rules of play will change with Coinbase entering and listing on the exchange. It provides new technologies with which you can transact with bitcoin using your PayPal account.
What is Coinbase?
In case you haven’t heard of it before, or have no idea about it, the first thing we have to do is offer the platform for you. Coinbase . platform
Basically, on paper, it is just a digital wallet for holding and storing digital currencies. Coinbase appeared in 2021, and was (and still is) only available in some countries. Initially, it only accepted bitcoin. But with time, it has accepted hundreds of digital currencies, and it has become a platform for sending, receiving and storing encrypted digital currencies of all kinds.
In the case of activating your own account on the Coinbase platform, and by activation we mean to verify identity by sending a picture of your identity and private information. You can also buy crypto and cryptocurrencies with a bank card directly through Coinbase. Soon you will be able to buy crypto and cryptocurrencies using PayPal as well.
You will now be able to buy cryptocurrency using PayPal
Coinbase recently announced that it will offer users the ability to buy and deposit cryptocurrency directly into their accounts using PayPal. Coinbase says that it now allows users to buy cryptocurrencies without having to provide a bank card with their private information, as this originally contradicts the principle of cryptocurrency.
It added that its service is reliable and will bring a different experience to users. Especially those who want to start their investments in the field of digital and encrypted currencies, but are unwilling to give their bank cards to any party, whatever it is.
The ability to purchase digital and cryptocurrencies will only be available currently in the United States of America, but it will expand its scope in the coming months, to include more countries and larger countries. For those living in the United States of America, starting today, they will be able to buy Bitcoin or other cryptocurrencies directly. While people in other countries will be able to do so in the coming months.
Will you only support Bitcoin?
Actually no, Coinbase has published a huge list of all the cryptocurrencies that users can buy using PayPal. The list includes popular digital currencies such as Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin…, and you can deposit the amount you want in any of these cryptocurrencies.
In aggregate, it will be available to almost all cryptocurrencies that Coinbase supports to send and receive. Some coins even though they are available for tracking on Coinbase, you cannot send or receive them. These coins will be relatively exempt and can be purchased using PayPal Credit.
How do I buy Bitcoin with Coinbase and with PayPal?
Although it will be available to other countries soon, there is no harm in mentioning how to buy cryptocurrency using PayPal balance on Coinbase. To do this, you have to go to the option to manage your own account, then Payment Methods
You will notice the Add Payment Method option, when you click on it (currently, as we indicated if you live only in the United States of America), you will automatically see the option to add a PayPal account and link it with the platform.
If you are not, you will only see the option to add a bank card, but it will not appear to you until you activate your account with a national identity card. But later, and after months, the feature will be available to all users in different countries of the world.