Coinbase has broken new ground today after announcing that it has added new funding mechanisms to the digital currency exchange which it operates. After launching support for debit cards a couple of months ago, the company today launched a beta service for funding with credit cards and PayPal.
The move is of great importance as it virtually opens a big door for a client base which is already used to operate with fiat currency electronically. With the addition of PayPal, the San Francisco headquartered digital currency exchange is aiming to broaden the appeal of its services further.
The exchange will initially launch the PayPal and credit cards service in a beta phase. Initially the company will be accepting PayPal for bitcoin sells and credit cards for bitcoin buys.
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The move comes in response to popular demand by the exchange’s users that are already using PayPal for their fiat currency transactions globally. The integration of the service will permit clients to sell Bitcoin (BTC) and have their U.S. dollar funds deposited to their PayPal wallet. The service will start operating exclusive in the U.S. in the beginning.
Coinbase has outlined in its statement that the company hopes to add support for other countries in the coming months.
Meanwhile, over the next few weeks, Coinbase has stated that it will be gradually inviting more users to make use of the new services. Users which have access to the beta may use the service by tapping ‘Settings’ and then ‘Payment Methods’ on their iOS or Android devices.