Buying cryptocurrency is not as easy as you might think. It also takes longer than you might expect, which is a problem when you want to take advantage of an opportunity in this market as quickly as possible.
Coinbase seems to have solved this issue, announcing that customers will be able to instantly buy Bitcoin, Ethereum and Litecoin using their bank account. Prior to this change, they had to wait several days for the purchased coins to be available.
The popular exchange says that this feature is currently available only for customers who have a US bank account, so for those in other markets the old waiting period remains in place. Still, it is a move in the right direction, which can only help the adoption of cryptocurrencies.
“Reducing the time to receive digital currency has been a highly requested feature and we are pleased to provide this improved experience for our customers,” says Coinbase. Based on the information it provided, right now this is only available to select customers.
Bitcoin is currently the most-valuable cryptocurrency, with a market cap of over $93 billion at the time of writing this article. It reached a new high above $5,800 today. Ethereum follows in second place with a market cap of nearly $32 billion and a price of $345. Litecoin currently ranks as the fifth most valuable cryptocurrency, trading at just under $60. All three are up today.
Customers who want to get their Bitcoin, Ethereum and/or Litecoin like this should know that instant purchases have a maximum limit of $25,000 — though Coinbase says that their individual limit may differ, depending on their account type presumably.
After making the purchase, customers will get an email when the transaction is complete to let them know when the instant purchases are available in their account. The exchange explains that the availability of this option will be expanded in the coming months.