Then follow us on Google News!
It is always good to see cryptocurrency exchanges improve their services. In the case of Coinbase, they now finally allow instant purchases of Bitcoin through bank transfers. Although the service is only available in the US, it is a major move in the right direction. Customers can purchase up to $25,000 in one go, which is a solid amount. This will help one of the largest Bitcoin exchanges grow even further.
Coinbase is one of the biggest cryptocurrency exchanges in the world. They have seen remarkable growth throughout 2017. With the Bitcoin price rising even further, that interest will only increase even more. It will be an interesting turn of events for this company, that much is certain. With this new feature rolling out to US customers, the demand for Bitcoin will continue to surge.
A Smart Move by Coinbase
In a way, it is surprising to learn Coinbase didn’t have this feature before. The company allows instant Bitcoin purchases with credit and debit cards in certain regions. However, the same never applied to bank accounts. Considering how the US banking system is different compared to Europe’s that makes sense in odd ways. Now that this feature is available to eligible US customers, the future’s looking bright for Coinbase and Bitcoin alike.
Woot! One of the biggest pieces of feedback we get on Coinbase is “why does it take so long!”. Rolling out instant buys ? https://t.co/n3muSrCBHo
— Brian Armstrong (@brian_armstrong) October 13, 2017
What makes this new solution so interesting is the associated transaction limit. Coinbase claims investors can buy up to $25,000 worth of BTC in one go. This all depends on their certification level and standing with the company, of course. The same limit applies to Ethereum and Litecoin purchases, for that matter. It is good to see the bank transfer delay finally being removed.
With the surge in Bitcoin price right now, this new feature comes at an intriguing time. One can argue this is a crucial time in the history of Bitcoin and cryptocurrency. If more people can buy BTC in a convenient manner, the price has a good chance of going up even further. Right now, it seems reaching $6,000 is very possible, although nothing has been set in stone just yet. These are exciting times for the world of cryptocurrency, that much is certain.
Header image courtesy of Shutterstock