Best Way To Withdraw Cryptocurrency
- You don’t have to submit any documents to trade cryptocurrencies on the Binance exchange. The non-verified account holders (i.e. Level 1) can withdraw up to 2 BTC per 24 hours, whereas verified account holders can withdraw up to 100 BTC per day.
- Cryptocurrencies have grown extremely popular in the last two years, and the crypto space is experiencing a constant rise in the number of new investors. However, the crypto world is complex, and it can be quite overwhelming. Because of this, it is important to explain every aspect of the trading process, and the cryptocurrency culture,.
Making cryptocurrency payments more convenient has not been an easy task for many companies. Consumers often face challenges while trying to find platforms that accept payments in the form of digital currencies. Shop owners still do not see the benefit of such payments. However, Coinbase has developed a brilliant solution to this problem. Below is the method to withdraw cryptocurrency to PayPal.
Now, let’s have a quick look at which is the better way to withdraw your investments from Binance: cryptocurrency transfer or fiat currency withdrawal. As you can see, when talking in terms of Bitcoin, there are usually some limits on how much you can withdraw within a 24-hour window. After depositing, simply convert the money on your crypto wallet to Bitcoin. Bitcoins are often held in mobile wallets so that they can be converted to pesos (fiat money/cash) when necessary. In 2016, Bitcoin started the year at $1,000 to 1 Bitcoin. By December 2017, the value is near $20,000 to 1 Bitcoin.
Started With Coinbase
Coinbase—an American based cryptocurrency exchange platform has grown in popularity thanks to its various services. As regards to daily trading volume, this exchange remains among the leading exchange platforms, with a $160 million on average.
Coinbase was launched by Brian Armstrong and Fred Ehrsman about 7 years ago and boasts a friendly user interface. Newbies in the crypto industry can exchange different currencies at ease on the platform. Furthermore, users enjoy a safety guarantee alongside minimal trading charges.
Additionally, the platform has always strived to set itself apart from other exchanges by making crypto transactions extremely easy. Coinbase users can easily withdraw funds from the platform and transfer the same into their bank accounts within days. And now, Coinbase has added more features to cut this waiting period from days to minutes.
The popular cryptocurrency exchange platform allows you to withdraw cash directly into your PayPal account. Thanks to this, users can use the Instant Transfer feature using their debit cards to receive their funds instantly for a small fee of $0.25, which is much better and more convenient compared to withdrawing cash from your Coinbase wallet into your bank account.
Just to confirm, this feature does not allow you to purchase any cryptocurrency from your PayPal account. Hopefully, this will be available soon, but at present, you can only withdraw funds into your PayPal, which is still great!
Before we move into withdrawing into your PayPal account, let’s first understand how to add your PayPal account to Coinbase.
Adding Your PayPal Account To Coinbase
Before adding your PayPal account to Coinbase, you have to log in. You can use a browser on your smartphone or computer. And you can only perform this transaction from your Coinbase wallet.
After accessing your Coinbase wallet through your browser, log into your wallet. Once you’ve logged in, go to “Settings”, this is found at the top of the window.
While in the settings, click “Linked Accounts”, you’ll find this at the top tab, then click, “Link a New Account” to move forward.
From there, you’ll see a list of account options that will pop up, click “PayPal”. After this step, you’ll be redirected to the login page of PayPal. Log in using your email and password.
Once you’re in your PayPal account, you’ll be directed to a confirmation page where PayPal will ask you to allow Coinbase access to money transfers—click “Agree” to link both accounts.
After successfully linking your PayPal to your Coinbase account, go back to your Coinbase account.
You can now withdraw funds from Coinbase to PayPal very easily.
How To Withdraw Cryptocurrency To PayPal
To withdraw funds from Coinbase to PayPal, select the “Buy/Sell” option on the Coinbase toolbar (on the right Dashboard), and select “Sell”. On the “Sell From” section, select the wallet you want to transfer the funds from, and select your PayPal wallet in the “Deposit To” section.
The next step is verifying the transaction details. Additionally, if you want to see the payment details further, click on the “Account” section from the toolbar. ‘From here, you can see the total amount of money transacted. You will then click “Confirm Sell” option.
If all the systems are right, the funds will reflect in your PayPal account instantly or after a few seconds.
From here, in case you want to transfer your PayPal funds into your bank account, just follow the instructions provided by PayPal.
The Instant Transfer feature provided by PayPal is available to U.S-based users and ensures that funds are transferred to one’s bank account in minutes, with a $0.25 fee for each transaction.
How To Remove Your PayPal Account From Coinbase
Unlinking your PayPal account from your Coinbase account is a lot easier compared to linking both accounts. This can be done through your Coinbase account.
To do so, just log into your Coinbase account, go to “Settings” at the bottom of the window, then click “Linked Accounts”.
From here, simply click the “Remove” button that is placed next to your PayPal account, then click “Remove” on the confirmation box that will pop up.
Major Concerns
PayPal has been on the spot for freezing users’ accounts at its whim and failing to follow regulations set by banks. This has seen the company receive many complaints from its users.
Additionally, the payment platform has one of the highest foreign exchange fees in the sector. For instance, the platform charges 5% for converting currencies. This means that it will cost you a whopping $50 to convert $1000!
Now we understand how the company made profits of $13 billion in 2017.
Apart from high foreign exchange fees, users are forced to wait up to a week to withdraw funds from PayPal into their bank accounts. Additionally, the company continues to increase its fees, which are often higher when compared to the transaction fees charged by most high street banks. As such, PayPal users may end up migrating to cryptocurrency transfers where the transaction is virtually instant and cheap.
Similarly, Coinbase seems to have joined PayPal in charging very high fees, as well as zealous account controls. As a result, many users have complained about the platform.
This exchange is among the most popular exchanges, thanks to its support for several cryptocurrencies, as well as its daily trading volume.
The integration with PayPal to allow users to withdraw funds is a major step for both platforms, and it proves that PayPal is finally warming up to cryptocurrencies. Nonetheless, there are many improvements that need to be made to ensure the process is perfect.
For instance, the platform should allow users to deposit funds to attract more users.
Conclusion
There is a ways to go before cryptocurrency is integrated with major payment systems around the world. However, there are ways for crypto users to move funds through PayPal as outlined above. As more adoption takes place, other financials institutions and services will likely allow for this as well.
We hope the guide on How To Withdraw Cryptocurrency To PayPal has been helpful for you!
This is a curated list of zero-fee (no commission) cryptocurrency trading exchanges. Each exchange listed here provides some type of services specifically designed in such a way that they don’t have to include any fees whatsoever.
Crypto exchanges earn through commission fees. However, the new concept of no-fee trading has arrived, this simply means exchanges have found alternative ways to generate returns, such as monthly plans, higher withdrawal fees, and other alternative methods.
Below you can find list of all the best zero-fee, no commission crypto trading exchanges.
This article is depreciating, please check our updated pillar post!
Note that each exchange has its specific terms, and/or method for zero-fee trading, and other fees may still apply.
Spot/Margin Trading Exchanges
Margin trading allows you to borrow either Bitcoin or Dollars at an interest rate to increase the size of your trading account. Although this activity can be highly risky, it is the quickest way to make huge trading returns.
Here is a list of the best crypto exchanges for spot/margin trading with zero-fees.
Phemex
Phemex is a quite fresh global cryptocurrency derivatives exchange offering Bitcoin, Ethereum, XRP, Litecoin, and EOS perpetual contracts, with up to 100x leverage. Phemex also provides couple of different monthly plans that have different fee structures, with premium paying customers for example paying zero spot trading fees.
Blade
Blade is a new perpetual trading cryptocurrency exchanges, specially designed for no-fee trading, the platform is funded by some of the known institutions and offers multiple cryptos to trade with, using up to 150x leverage and zero trading fees.
Traditional Trading Exchanges
There are many international online trading brokerage exchanges that accept Bitcoin and offer the ability to trade forex, stocks, and CFDs on a wide array of financial assets across the global markets.
Here’s a list of traditional exchanges for stock trading using Bitcoin and without fees involved.
eToro
eToro is the world’s leading social trading platform. This exchange is more focused on the traditional side, yet they do include cryptocurrencies such as BTC, ETH, LTC, and XRP. The unique thing about this platform is that you can copy-trade other profitable traders possibly making a great passive income. On top of that, eToro lets users trade a wide range of stocks using Bitcoin with no commissions needed.
Altcoin Trading Exchanges
Altcoin trading can be one of the most profitable concepts in cryptocurrency, there are thousands of different projects to choose from and quite a few exchanges as well. To have access to as many coins as possible we suggest registering on each exchange below. These are the best crypto exchanges for altcoin trading.
Many of these exchanges can be used to purchase your first Bitcoins as well.
Kucoin
KuCoin is a great alternative to Binance, offering a wide variety of coins to choose from, they as well have the option fo purchase with a credit card, and all in all are a great exchange to anyone looking to buy, sell or trade lots of different altcoins. On top of all that, Kucoin has no KYC requirements, and with its instant exchange feature, users can swap coins with zero-fees.
Txbit
Best Way To Withdraw Cryptocurrency Money
Txbit.io is altcoin focused crypto exchange based in the Netherlands. This exchange offers a variety of coins to trade and a reward program that gives 50% of the trading fees to anyone running a Solaris Masternode on the platform. Txbit.io also offers different monthly plans for those that want to trade without commissions.
Fiat to Crypto Exchanges
Many of the exchanges from the above categories can also be used for purchasing your first Bitcoins. However here are some of the best crypto exchanges, which are more focused on dealing with cash, and therefore better to be used for either buying your first Bitcoins or selling your coins for cash.
CoinMetro
CoinMetro is hands down the most affordable place to purchase Bitcoin and other cryptocurrencies. The exchange is designed to suit all levels of traders, from newbies with a one-click buy button to pro trading screens. CoinMetro also has in build instant swap feature that lets users switch from one coin to another with no fees involved.
Wazirx
WazirX is a cryptocurrency exchange based in India, the platform offers seamless Fiat to crypto conversions, and automated P2P matching engine that doesn’t require any fees from its customers.
Amplify
Amplify is a simple to use cryptocurrency exchange platform that doesn’t require any commissions from trading, however it has a heavy price for withdrawals with EUR currency starting from 25€ per withdrawal.
How To Withdraw Crypto
Newton
Newton is a Canadian based cryptocurrency exchange offering a zero-fee trading experience for Canadians. The platform lets users purchase and trade Bitcoin, all with zero commissions, funding, and network fees.