Transferring funds from Coinbase to PayPal has become pretty simple after the top crypto exchange expanded its services to add support to payment giant PayPal.
With Coinbase continuing to innovate, adding new Coinbase listings and its Coinbase Earn quizzes, these new forms of transfers aren't a surprise. Users can use the PayPal app to withdraw funds from their Coinbase accounts in a simple and uncomplicated manner.
Moreover, the withdrawal process is seemingly fast and users can move their funds from Coinbase to PayPal in an instant. Let's now dive deep into how users can withdraw their funds from Coinbase and transfer them to their Paypal accounts.
How To Withdraw From Coinbase To PayPal
To withdraw your funds from your Coinbase account, users must follow the steps given below:
- Log into your Coinbase account and connect your PayPal wallet.
- Users will have to convert their crypto to fiat first to send funds to PayPal. For this, users will first have to access the exchange services on Coinbase.
- Click on the Buy/Sell option on the Coinbase dashboard, and choose Sell.
- Select the wallet that you will be using to send the .funds
- Click on the deposit option and select PayPal
- Enter your desired crypto amount and send it to your EUR or USD supported wallet on Coinbase (Note: a conversion fee will be charged for this transaction).
- Verify the details and click on the Confirm Sell option.
- Once the transaction is confirmed, go to the EUR/USD wallet, and click Withdraw.
- Select the amount that you wish to withdraw to PayPal and press confirm.
- Confirm the transaction and check your PayPal to see if the funds have been received or not.
How long does it take to withdraw from PayPal to Coinbase
According to Coinbase's official website, cashing out to your bank account via SEPA will take approximately 1-2 business days.
Coinbase To PayPal Withdrawal Limit
Coinbase to PayPal users can withdraw up to $25,000 USD.
Read More: Is Coinbase Down: How To Check Coinbase Server Status
Coinbase To Paypal Withdrawal Fee
Coinbase users in the United States can access instant transfers which will move their funds to their Paypal immediately, however, they will be required to pay a fee of 3.75% of the total amount of the transaction.
Moreover, the conversion fee which is levied on transactions that require conversion before moving the funds into PayPal accounts is charged at the rate of 5%.
In simpler terms, a user must pay 5% of the conversion fee to convert their crypto into fiat before moving the funds into their respective PayPal accounts.
For more details concerning Coinbase fees, visit their full breakdown page.
PayPal joins Coinbase's TRUST network
Recently, PayPal has joined Coinbase's TRUST network to offer regulatory compliance on its transactions across the region.
Coinbase' TRUST aims to disclose relevant data to the authorities while maintaining user privacy and security.
"TRUST is a global, industry-driven solution designed to increase compliance with a requirement known as the Travel Rule while prioritizing the security and privacy of customers."
By collaborating with Travel Rule Universal Solution Technology or TRUST, the firm will be required to share information about customers when those customers make transactions over a prescribed amount.