Crypto Exchange Coinbase Enables PayPal Withdrawal Option For EU Users

Announcements, News | February 6, 2019 By:

Crypto exchange Coinbase has rolled out PayPal withdrawal support for all European Union customers and customers in European Free Trade Association countries – Iceland, Liechtenstein, Norway, and Switzerland.

In December 2018, Coinbase announced support for PayPal in the US, allowing clients to withdraw their balances directly into their PayPal accounts, converting crypto to cash. The exchange is now expanding that support for PayPal withdrawals to 32 European countries. Coinbase said that support for PayPal withdrawal in other nations will continue to be added this year.

“Before PayPal, SEPA and UK Faster Payments were the only options for European customers to withdraw funds,” Allen Osgood, Project Manager at Coinbase. “Part of our commitment to being the safest and easiest is to support the preferred transfer options for our customers around the world. As one of the world’s easiest and most widely-used payment platforms, adding PayPal as a withdrawal option for European customers offers another great option for withdrawing their funds.”

To start using the PayPal withdrawal option, users will need to link their PayPal account to their Coinbase account. Users will then have to select their PayPal account as a payment option when withdrawing their cash balance to easily move their funds.

“We strive to make Coinbase the safest and easiest place to use cryptocurrency — offering convenient withdrawal options like PayPal is another big step towards that goal,” said Osgood.