How To Withdraw Cryptocurrency from Coinbase To PayPal
You can not withdraw your crypto — just buy, sell and now spend (but first sell).
YOU CAN NOT SEND CRYPTO ASSESTS TO FAMILY, FRIENDS
PayPal Cryptocurrencies Agreement
if you have questions or concerns regarding your crypto currencies hub, your crypto assets, our service provider(s), or related transactions or account activity, please contact paypal customer service or call: (888) 221-1161. you can also write to: paypal, attn: cryptocurrency support, p.o. box 45950, omaha, ne 68145-0950.
Over the next few weeks PayPal will be rolling out buy, sell and hold features for cryptocurrencies on its platform to U.S. users, but the service will not allow users to withdraw or deposit holdings.
https://www.coindesk.com/paypal-crypto-more-tax-work
PayPal’s Checkout will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly converted into U.S. dollars or other fiat currencies when making purchases, the same as credit card or a debit card would work inside a PayPal wallet, said PayPal – meaning merchants will not actually be the recipients of cryptocurrencies.
“Checkout with Crypto” include a number of important caveats. Chief among them is the tax liability: “Sales of Crypto Assets via Checkout with Crypto are taxable just like all other sales of Crypto Assets.”
PayPal will provide the consumer with a 1099 tax form and report to the U.S. Internal Revenue Service as necessary, but “it is your responsibility to determine what taxes, if any, apply to transactions you make.”
The Good and The Bad About Cryptocurrency on PayPal …
No Crypto Withdrawals, Big Fees. Firstly, PayPal will not allow crypto assets to be withdrawn to external wallets, so essentially once they’re on the platform PayPal can set whatever price it wants for users needing to convert back to fiat.