Exciting times are afoot in the Bitcoin world on a nearly daily basis.Coinbase, also known as GDAX these days, has added support for PayPal (NASDAQ:PYPL) and credit cards to their platform.Buying and selling Bitcoin has never been easier or more convenient than it is right now.Before people get too excited about the option to with Paypal shortly, that option will not be enabled just yet.Coinbase makes it clear they will let users buy cryptocurrency with a debit card, though.The option will only be usable to sell cryptocurrency, Coinbase Expands Payment Options The addition of Paypal to the Coinbase platform was only a matter of time, though.For all of its flaws, PayPal remains one of the most commonly used online payment services around the world.Having the option to convert Bitcoin to this more generally accepted payment method is a positive addition.Then again, actual Bitcoin aficionados will argue this does not benefit the adoption of Bitcoin payments by merchants.Moreover, the PayPal cash out function will be limited to US customers only for the time being.

Depending on how often this solution is used, and whether or not PayPal will flag user accounts for suspicious transactions, Coinbase may expand this functionality to other countries in the future.Moreover, the company has indicated their support for letting users buy Bitcoin with the online payment method in the future as well.No specific dates regarding expanding this functionality were announced at the time of writing, though.Adding  support to buy Bitcoin is a significant move by Coinbase.The company had added debit card support several months ago, which has been quite a success so far.Convenience is a driving factor for consumers to buy Bitcoin, and the addition of credit card support should help boost cryptocurrency adoption in the coming months.It is important to note that both credit card and Paypal support are currently in beta.Additional users will be invited over time to test these new services.Both payment options are added to the on iOS and Android as well, and can be found under the “Settings” menu.

Skip to content NFC World Knowledge Centre » Saturday 24 June 2017 Bitcoin wallet Coinbase has added support for PayPal and credit cards.“Through this integration, Coinbase users are now able to sell Bitcoin and have their USD funds deposited to a PayPal wallet,” Coinbase says.“To start, we’re offering PayPal cash-out for US users only.In the future, we hope to add support for other countries, and to support buys through PayPal as well.Both services are currently in beta.We’ll invite more users to each service over the next few weeks.”Phones Laptops Cameras Tablets Headphones Smartwatches VR Headsets This is my NextCrypto is complicated and risky, if you don’t know what you’re doing.But there’s money to be made for big businesses.US bitcoin broker and wallet company Coinbase recently announced a partnership with PayPal.On their blog, they explain: ‘One of our objectives at Coinbase is to add as many funding mechanisms as possible to make exchanging digital currency easy.

As a step in that direction, Coinbase now accepts PayPal (for bitcoin sells) and credit cards (for bitcoin buys).’ Note the direction in which the funds are flowing, here: from Coinbase to PayPal.bitcoin triviaThere’s a simple reason for this: PayPal is a payment processor and, like most payment processors, has a high degree of control over its users’ accounts.ethereum silicon valleyIt can if needs be reverse a payment.china bitcoin exchange withdrawalThe classic scenario is if an eBay merchant does not honour a purchase.bitcoin kurs heuteThe customer can appeal to PayPal for a refund (in these situations, PayPal almost always sides with the customer - it’s great for customers, bad for honest merchants getting hit with chargebacks).most legitimate bitcoin exchange

Strategic partnerships increase adoption but lower risk - allowing each party to do what they do best Because bitcoin transactions aren’t reversible, keeping payments going from Coinbase to PayPal but not the other way avoids the problem situation of an account being fraudulently funded by PayPal and those funds being used to buy bitcoin - which is then withdrawn, with no hope of recovery.cost litecoin miningIt’s nice and safe for PayPal.ethereal queen wiki(Incidentally, the same problem can arise with bitcoin purchases using a credit card.bitcoin como receberExchanges and brokers that accept credit card deposits typically avoid this problem with an additional layer of security and KYC.)ethereum 90 days

PayPal have dabbled with bitcoin in the past but there’s no surprise they have gone down the route of partnering with a major US exchange.Coinbase is big, it’s regulated, and it knows what it’s doing.Plus the risks for PayPal are minimal, thanks to the fact it’s not exposed to counterparty risk because it’s only used as a cash out option.Effectively, PayPal have chosen to outsource the risk and expertise to Coinbase, allowing them to profit from transaction costs (and PayPal’s are a good deal higher than bitcoin’s tx fees) without any of the downside.I take no issue with that: all’s fair in love and capitalism, and no business in its right mind would take on risk unnecessarily.What it does signpost is the way in which bitcoin and other blockchain services will eventually reach mass adoption.Companies like Coinbase will increasingly act as intermediaries or gateways between ‘old’ money (yes, I include PayPal in that description) and the new protocols of cryptocurrency.