Coinbase is the largest cryptocurrency exchange in the USA. It’s a great choice for new cryptocurrency investors because of the user friendly interface and simple approach to buying and selling cryptocurrency.
One of the downsides to Coinbase, at least for investors in the UK, was the fact that it took up to 3 days to withdraw your funds back to your bank. The only method available was a SEPA payment which was both costly and time consuming.
Coinbase have now made cryptocurrency much more liquid-able for UK investors. Since they were the most downloaded app on Apple’s App store, reporting over 100,000 downloads in just one day back in December, they’ve made some significant improvements for the end user.
Coinbase adds GBP support
Now though, Coinbase have removed the irritating boundaries faced by UK investors using Coinbase.
“Customers will now be able to deposit and withdraw pound sterling and use it to directly buy and sell cryptocurrency – for the first time. Customers will not only benefit from increased speed, but reduced cost as well. By no longer having to convert funds from GBP to euros and vice versa to add and remove funds, there will be no more exchange rates.” Zeeshan Feroz – Coinbase UK CEO
Coinbase made the announcement on Wednesday, and expect the feature to be rolled out all Coinbase UK customers in the next few weeks. Some users already have access to the GBP wallets now, and others will have access very shortly.
It’s exciting news for Coinbase, who recently became the first exchange to be granted the E-Money licenncse in the UK.
Coinbase are really making some bold moves recently, just a few weeks ago they launched the Coinbase index fund, allowing institutional investors a chance to enter the crypto market through them. They also recently announced they will soon be supporting Ethereum ERC-20 tokens, a move we’re still waiting for more updates on.
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