Coinbase now accepts PayPal enabling users to sell Bitcoins and have their funds deposited to into their PayPal account. Currently it’s for US users in US$ only, but they hope to expand to other countries around the world in the near future.
You can now also buy Bitcoins through Coinbase with both Debit and Credit cards which with the PayPal facility brings Bitcoins closer to the stage where you can purchase Bitcoins with any card in your wallet. Currently you can’t buy Bitcoins with PayPal, but doubtless that will come soon too.
These new Coinbase services are currently in Beta so available to invited members only.
PayPal already work with Coinbase to enable their merchants to accept Bitcoin through their Braintree acquisition, again only in the US though.
There is little doubt that PayPal is interested in Bitcoin and other virtual currency wallets. We’re not seeing a great take up in traditional markets however, for many is still a black art and understanding of the currency amongst small retailers is generally low. Do you accept Bitcoin or have you ever bought or sold using a crypto-currency?