PayPal users in the U.S. can now buy and sell cryptocurrencies directly from their accounts, but they have limited options when it comes to choosing an exchange. According to a recent survey by Crypto.com, the majority of PayPal users prefer Crypto.com as their exchange of choice, followed by Coinbase and Binance.
The survey, which was conducted in March 2021, asked 1,052 PayPal users about their preferences and opinions on cryptocurrency. The results showed that 78% of the respondents were interested in buying or selling crypto through PayPal, and 74% of them had already done so.
However, not all exchanges are compatible with PayPal’s service. Currently, only four exchanges allow users to withdraw their crypto to PayPal: Coinbase, Bitstamp, eToro and Paxful. Among these, Coinbase is the most popular, with 46% of the respondents saying they use it. However, Coinbase also charges a 3.75% fee for PayPal withdrawals, which is higher than the other three exchanges.
Crypto.com, on the other hand, does not support PayPal withdrawals yet, but it offers a range of benefits that make it attractive to PayPal users. According to the survey, 54% of the respondents said they would choose Crypto.com as their preferred exchange if it integrated with PayPal. The main reasons for this preference were Crypto.com’s low fees, high security, user-friendly interface and diverse product offerings.
Crypto.com is one of the fastest-growing crypto platforms in the world, with over 10 million users and a market capitalization of over $15 billion. It offers a variety of services, such as trading, staking, lending, borrowing, payments, cards and DeFi products. It also has its own native token, CRO, which powers its ecosystem and rewards its users.
Crypto.com’s CEO and co-founder, Kris Marszalek, said that he was pleased with the survey results and that he was looking forward to working with PayPal in the future. He said:
“We are thrilled to see that Crypto.com is the preferred choice for PayPal users who are interested in crypto. This shows that our vision of building a simple, secure and rewarding platform for crypto users is resonating with the masses. We are always open to collaborating with industry leaders like PayPal to drive the adoption of crypto and create more value for our users.”