TL;DR Breakdown
• The company will allow direct cryptocurrencies purchase using check deposits.
• Coinbase will be updated throughout October.
Coinbase, one of the most widely used cryptocurrency trading platforms in North America, has announced several features that have piqued the interest of its customers. Although the company is known for the ease of purchasing cryptocurrencies using fiat, it also wants to expand its operations into other areas.
Cryptocurrency trading has been evolving over the months, and large firms like Coinbase have had to adapt to customer demands. This crypto platform has a lot of competition ahead, including Binance, but looks forward to standing out once more after the update of its system.
Coinbase update
The US crypto trading company recently announced that it would update its system for the benefit of its customers. Coinbase plans to launch a fixed deposit system for all citizens in the United States. This way, deposits with checks will be accepted. Customers only have to look for the corresponding form in the app to make the bank deposit.
The crypto platform promises that this new deposit system will be fast and secure. When users deposit their dollars within the web, they will decide whether to keep it in USDT or exchange the funds for cryptocurrencies.
Users will have no limits when it comes to exchanging their trust funds for decentralized currencies, of which the company supports 5,254 of the more than 8,000 cryptocurrencies that currently exist. Among these tokens are the most popular such as Bitcoin, Bitcoin Cash, Ethereum, among others.
Although this new function in Coinbase has no relevance at first glance, it makes sense when you consider that the company created a debit card. The card is linked to payment Apps such as Google Pay and Apple Pay.
Using the cryptocurrency app, the user can take their native wallet to make future transfers directly. The company exchanges the cryptocurrencies for dollars with a commission rate of approximately 2.50 percent.
These transfers between crypto-fiat or vice versa also participate in the rewards. A client can get one percent in money back if he uses tokens like BTC, DAI, or DOGE. On the other hand, you can earn 4 percent in rewards if you trade tokens like AMP, XLM, RLY, or GRT.
More good news for Coinbase
Coinbase also updated its direct payments in USD. Now the company will allow users to spend their dollars within the platform to achieve a perfect communion with the cryptocurrency trade. These features will be implemented in the Coinbase App for October.
After being inactive for a long time, the company that supports cryptocurrency trading has revamped its system in recent months. This former participant in the cryptocurrency market could increase adoptions within the United States and increase crypto prices.
