How to withdraw from Blockchain Wallet to PayPal? In this guide, the fastest route to convert crypto into cash by using the Coinbase option.
Do you have some crypto like Bitcoin(BTC) or Bitcoin Cash(BCH) available at the Blockchain.com wallet? Or are you looking for a fast way to convert crypto to cash? Unfortunately, the Blockchain.com crypto wallet doesn’t support for third party payment providers like PayPal.
In short, Blockchain.com is a prominent provider of cryptocurrency wallets and related services. It was founded in 2011 by Benjamin Reeves, Nicolas Cary, and Peter Smith. Initially, the company was known as Blockchain.info, primarily offering a web-based Bitcoin wallet. Over time, it expanded its offerings to include other cryptocurrencies and rebranded as Blockchain.com in 2014.
Blockchain.com gained popularity by providing a user-friendly interface and a focus on security. Fast forward to today, Blockchain.com evolved from being solely a Bitcoin wallet to supporting multiple cryptocurrencies and offering additional features.
Even though adding your bank account to the platform is possible, using this option isn’t very convenient. Users who already have a PayPal account should pay attention here.
By continue reading this guide you will get all the answers you are looking for regarding PayPal withdrawals:
- How to withdraw from Blockchain wallet to PayPal
- A practical example of withdrawing Bitcoin Cash(BCH) out of Blockchain.com
- Use the Coinbase cash-out option for PayPal
How To Withdraw From Blockchain Wallet To PayPal: Quicktake
In short, below are the necessary steps to cash out money from Blockchain.com to PayPal. Additionally, I assume you already have an existing Coinbase account and are using Blockchain wallet on a mobile device. Overall, you have to do the following:
- Sent crypto from Blockchain wallet to Coinbase
- On Coinbase, sell crypto for fiat(USD, EUR, GBP, etc)
- In ‘My Assets‘, choose ‘Cash out all‘ option
- Choose PayPal as cash withdrawal option
- Cash out to PayPal at zero fees 😁
The steps above are a quick take of the steps you have to follow. Later on in this guide, I’ll go more into detail by including screenshots. Spoiler: using the PayPal cash-out option at Coinbase, is the quickest way to convert crypto to cash within 24 hours.
Understanding Crypto Withdrawals
Blockchain.com is a multi-coin wallet and if you are using it on a regular basis then you already know that this wallet can be used on different blockchains. Moreover, besides Ethereum(ETH), Bitcoin(BTC), or Bitcoin Cash(BCH), you have several other coins that can be traded or used within this online platform.
Even though Blockchain Wallet has a lot of interesting features, cashing out crypto for money is difficult. Also, withdrawals to a bank account are expensive or can take some business days.
However, if you already have a working PayPal account then this is the quickest and cheapest option to turn crypto into cash. How does this work?
To summarize, you need to withdraw your crypto to another platform first before you can cash out. How to do this properly?
How to Withdraw Money From Blockchain Wallet to PayPal
Again, when you want to use PayPal as a cash-out option, you need to send your funds elsewhere. Also, to receive the funds in your PayPal account you must find a platform that supports this.
Luckily in 2020, Coinbase and PayPal decided to team up. Where PayPal has been added as a cash-out option to the Coinbase platform. Below are the necessary steps to withdraw money from Blockchain Wallet to PayPal explained in more detail.
Step 1: Create an Account at Coinbase
First of all, you need to open an account which shouldn’t be a complicated step. On top of that, you can use this link to open a free account at Coinbase.
In short, Coinbase is a very popular crypto trading platform mainly focused on US customers. Also, it has millions of cryptocurrency traders using its platform on a daily basis. In addition to trading and wallet services, Coinbase also offers various other features such as a merchant payment gateway and educational resources for beginners to learn about the world of cryptocurrency.
Remember that crypto exchanges use custodian wallets for holding crypto and are subject to attack by hackers all the time. As a result, security is a top priority for them, and withdrawing to use PayPal requires you to verify(KYC).
In short, an account verification(KYC) process consists of the following:
- Upload official documents(passport, identity card, driving license, or else)
- Take pictures of both sides of the document
- Make a selfie
Step 2: Send funds from Blockchain Wallet
After you have finished the sign-up process at Coinbase it’s time to use your newly created profile in order to withdraw money.
The plan you might have is to swap crypto for the money so you need to send crypto funds from Blockchain.com to Coinbase here. How to do this? Below are the necessary steps for Coinbase(using Bitcoin Cash(BCH) as an example):
- In Coinbase above, click ‘Send & Receive‘
- Choose to Receive tab, and click Bitcoin to search for BCH
- In the search bar, type BCH and choose Bitcoin Cash result
- Click ok and copy BCH address to clipboard
Next, go back to your Blockchain Wallet, enter your password to log in, and find your BCH funds.
Consequently, in order to transfer, click on ‘Send‘. Now tap on your BCH funds and paste the Coinbase BCH address from the clipboard into the To field.
Finalize the withdrawal of BCH funds from Blockchain.com by giving the amount of BCH and approving the transaction(Continue button).
Step 3: Receive BCH funds at Coinbase
As the Bitcoin Cash blockchain processes transactions very fast it’s just a matter of seconds waiting before funds arrive in the Coinbase account. Just make sure that you have received the funds by going to your assets wallet on Coinbase.
On top of that, Coinbase will send you a notification message when the BCH funds have reached their platform.
Consequently, the withdrawal process for crypto from Blockchain.com to Coinbase has been finished. Additionally, we are ready to start the cashout option for PayPal accounts on Coinbase.
Step 4: Trade BCH for USD on Coinbase
At this point, you can start selling BCH for fiat currency(USD, EUR, etc). All you have to do now on the platform is to go to ‘My Assets‘ and choose ‘Buy & Sell‘. It’s all very straightforward.
In the pop-up screen, find BCH, also make sure to choose USD as fiat option(if you are a US customer) and click on the ‘Sell‘ option. Simply enter the amount you wish to sell, click “Preview Sell”, and then hit the “Sell Now” button.
Next, after the platform has processed the transaction(which takes seconds) your wallet will be updated with the amount in USD.
Step 5: Withdraw Cash from Coinbase using PayPal
Finally, we have reached the level where you can transfer money to your PayPal account. Now go to your money account under “My Assets”. Next, click on this to view the Cash Out option and select “Cash Out All”.
Click the continue button and a new screen appears that asks you to choose a destination for your cash withdrawal. You have the following options:
- Add a debit card
- Add a bank account
Next, you only have to confirm if you really want to withdraw to your PayPal account. Also, the screen shows you the details including the fee which is zero for PayPal withdrawals.
And this is how you withdraw from Blockchain wallet to PayPal! Enjoy your profits and don’t forget to share this guide if it was helpful 😁
Withdrawing Cash from Coinbase using PayPal
As shown above, withdrawing cash from Coinbase is a straightforward process that can be done in just a few steps. You can withdraw cash directly to your bank account or use PayPal to transfer funds. If you choose to withdraw to your bank account, you’ll need to add your bank account details to your Coinbase account. Once your account is verified, you can initiate a withdrawal and the funds should arrive in your bank account within a few days.
Alternatively, using PayPal to withdraw funds offers a convenient and trusted option. You can link your PayPal account to Coinbase and transfer funds to your PayPal balance(for free). From there, you can easily withdraw the funds to your bank account or use them for online purchases. Overall, withdrawing cash from Coinbase is a seamless process that offers flexibility and choice for users.
FAQ – Withdraw From Blockchain Wallet to PayPal
Can You Directly Withdraw Money from Blockchain Wallet?
Yes, it’s possible to link your bank account to the Blockchain.com platform. To use Blockchain.com as a cash-out option, you just need to sell your crypto for fiat(USD, EUR, or other). After that, you can initiate a bank withdrawal that takes 1 to 5 business days.
How Do I Convert Crypto to PayPal?
As explained earlier in this guide, you can use Coinbase to sell your cryptos for money. After that, you can use the ‘cash out option‘ and choose PayPal as a destination.
Can I withdraw Crypto to PayPal?
Yes, it’s possible to withdraw crypto to PayPal directly. At the end of 2020, PayPal added crypto wallets to its platform. However, this option is only allowed for US customers and only supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
📣Important: List of top Crypto Projects
|🎁 Swapzone: Find the best crypto offer|
|🚀 Bitsgap: Best Automated Trading Bots|
|💲 Nexo: Reliable Crypto Lending Platform and get $25 free Bitcoin|
***To be Profitable in the markets
Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!