Coinbase just made it easier than ever to buy cryptocurrency — here's how

By Marc McLaren
last updated

You can now use PayPal to buy Bitcoin, Ethereum and other cryptocurrencies on Coinbase

Bitcoin
(Image credit: Shutterstock)

One of the most bewildering things about the brave new world of cryptocurrency is how you actually buy it, but Coinbase has just made it a lot simpler thanks to a tie-in with PayPal.

As revealed in a blog post (opens in new tab), Coinbase will now offer its many millions of users the ability to buy Bitcoin, Ethereum and other cryptocurrencies directly in the app, using a linked PayPal account.

As the post explains, users with an existing PayPal account will be able to make transactions via the new method immediately. Plus, there'll be no need to add bank details to Coinbase: it'll all be handled via PayPal.

The process sounds seamless: to start, you simply select the crypto you want to buy, tap on payment method then choose PayPal under the “Add a payment method” option. 

Coinbase PayPal

(Image credit: Coinbase)

After logging in with your PayPal account — which must be registered to the same email as the one you use with Coinbase, or you'll have to go through two-factor authentication — you can select or add a debit card or bank account.

The new payment method will allow for purchases of up to $25,000 a day with your PayPal account, but it only currently applies to customers in the U.S.; Coinbase says it will be rolled out to other countries "in the coming months."

PayPal already gives users the ability to buy crypto in its own app, but the choices are currently limited to Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Coinbase, meanwhile, is one of the biggest crypto trading apps, with some 56 million users. In fact, earlier this month it became the second most popular app in the Apple App Store, behind its crypto rival Robinhood. 

Its popularity has soared along with that of many of the cryptocurrencies its users trade: for instance, Ethereum recently reached its highest ever value of $2,800.

Marc McLaren
Marc McLaren

Formerly Editor in Chief (U.K.) on Tom’s Guide, Marc oversaw all gaming, streaming, audio, TV, entertainment, how-to and cameras coverage, and was also responsible for the site’s U.K.-focused output. He is now U.K. Editor in Chief on TechRadar. Marc previously edited the tech website Stuff and has tested and written about phones, tablets, wearables, streaming boxes, smart home devices, Bluetooth speakers, headphones, games, TVs, cameras and much more. He also spent years on a music magazine, where his duties mainly involved spoiling other people’s fun, and on a car magazine. An avid photographer, he likes nothing better than taking pictures of very small things (bugs, his daughters) or very big things (distant galaxies). When he gets time, he also enjoys gaming (console and mobile), cycling and attempting to watch as much sport as any human can. He's also fallen in love with Wordle over the past six months and is the author of our today's Wordle answer column, in which he supplies hints and strategy tips for the mega-popular word game. Given he's completed every single Wordle so far and only lost once, and analyzed every Wordle answer in search of patterns, he's well qualified to help you safeguard your streak.