Coinbase launches new way to buy crypto on PayPal

Coinbase is making it possible for US customers to buy cryptocurrencies using debit and bank accounts linked to PayPal.

The company said that those with an existing PayPal account will be able to start making transactions on the platform straight away.

Customers will be able to make a purchase of up to $25,000 a day through their PayPal account.

“When you’re ready to fund crypto purchases with PayPal, first select the crypto you want to buy, tap on the payment method then “Add a payment method” to select PayPal,” explained Eddie Lo, product manager, Coinbase. “You’ll be taken to a PayPal login screen — make sure your PayPal email address is the same as the Coinbase email address, otherwise you’ll have to go through a two-factor authentication flow. After you log in, you can select or add a debit card or bank account linked to your PayPal account.”

Customers in the US can already buy crypto with a connected bank account via ACH or wire transfer, a debit card, or funds in their Coinbase USD wallet.

Coinbase said that in the coming months it plans to expand the PayPal feature to more countries.

Coinbase buys skew

Coinbase has also announced the buyout of London-based skew, the data visualisation and analytics platform for crypto markets.

The company will integrate skew’s data analytics platform with Coinbase Prime, which will enable customers to track cryptocurrency spot and derivatives markets in real-time.

“I’m thrilled to announce that Coinbase is acquiring skew, the leading institutional data visualisation and analytics platform for crypto markets, ,” said Greg Tusar, vice president, institutional product at Coinbase. “Through this acquisition, Coinbase reinforces our commitment to serving the growing institutional market.”

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