As revealed in a blog post, Coinbase will offer millions of users the ability to purchase bitcoin, ethereum, and other cryptocurrencies directly in its app using a linked PayPal account

As described in this post, users with existing PayPal accounts can immediately conduct transactions in the new way Furthermore, there is no need to add their banking information to Coinbase Everything is processed via PayPal

The process sounds seamless: to get started, simply select the crypto you wish to purchase, tap the payment method, and select PayPal in the "Add Payment Method" option

After logging in with your PayPal account (you must be registered with the same email as the one used by Coinbase, otherwise you will need to go through two-factor authentication), you can select or add a debit card or bank account

The new payment method will allow purchases of up to $25,000 per day with a PayPal account, but currently only applies to US customers; Coinbase says it will roll out to other countries "in the coming months"

PayPal already offers users the ability to purchase crypto through its own app, but options are currently limited to bitcoin, ethereum, lite coin, and bitcoin cash

Coinbase, on the other hand, is one of the largest crypto trading apps, with approximately 56 million users In fact, earlier this month it became the second most popular app in Apple's App Store, behind crypto trading rival Robinhood

Its popularity has skyrocketed along with the popularity of many of the cryptocurrencies users trade, with Ethereum, for example, recently hitting an all-time high of $2,800