PayPal partners Coinbase to enable Bitcoin transactions

Coinbase has announced that they have a deal with PayPal where American users of PayPal will be able to sell Bitcoin and receive the funds directly into their PayPal account. This global agreement might affect all of the almost 200 million PayPal customers worldwide, according to the Coinbase corporate blog.

The mass adoption of Bitcoin will depend largely upon the payment and service infrastructure that underpins each transaction.

Coinbase has also announced the ability to use credit cards to buy Bitcoin directly. Both systems are currently in beta, but are available by visiting the payment methods page on Coinbase.com or tap Settings and then Payment Methods on iOS or Android.

In November 2015, PayPal held a hackathon called “Battlehack” to find new ways for PayPal to use and integrate Bitcoin and blockchain technology. This event included Coinbase, as well as Snapcard and Chain.