Cryptocurrency exchange startup Coinbase has announced that some users will now be able to access “instant” purchases of bitcoin, ethereum and litecoin.
The new service is currently only available for users making payments from a U.S. bank account and in amounts of under $25,000. However, Coinbase said it plans to expand the instant purchasing service to other countries “over the coming months.”
Whereas previously such transactions would have taken several days, the firm said, customers will now have immediate access to their cryptocurrency holdings after the payment is made.
The San Francisco-based firm explained that the new feature has been a “highly requested” one, and that it should increase the overall speed and usability of the platform.
The move is likely to be popular with users of the startup’s service, which been the target of criticism over poor customer service. Coinbase has previously stated that rapid user growth in recent months led to the issues, committing at the time to devote more funds to boost its customer services resources.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Lightbulbs image via Shutterstock
The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected]
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
TheBitcoinNews.com – leading Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
TheBitcoinNews.com is is not responsible for the content of external sites and feeds.