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coinbase is launching instant purchases and ditching the 3-5 day wait period

coinbase is launching instant purchases and ditching the 3-5 day wait period News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



coinbase is launching instant purchases and ditching the 3-5 day wait period

coinbase just announced that users can instantly purchase cryptocurrency and have it be funded from a u.s. bank account.until now, these types of purchases took between 3-5 days to complete, as coinbase waited for funds to transfer via ach before they credited your purchase. this wait meant that users would often get frustrated because of bitcoin’s inherent volatility — the price could fall (or rise) by 20 percent before you received your coins, but you were still locked into the price you paid five days earlier.instant buys aren’t totally new for coinbase — users using a credit card to buy cryptocurrency were able to do instant purchases, but this came with a 4 percent fee, more than double the 1.5 percent fee charged for bank account purchases. plus, credit card buys have much lower limits — sometimes only a few hundred dollars a week. bank account purchases on coinbase have much higher limits — ranging as high as $25,000 a week for the most verified and trusted customers.the feature will roll out today to ~15,000 users, with “all eligible” u.s.-based customers getting it by the end of the year. while coinbase wouldn’t elaborate on what percentage of users will be eligible, it’s likely that doing things like completing the company’s verification tiers and showing good customer habits over time will increase the odds of being eligible.zach abrams, coinbase’s new head of product, explained that “coinbase uses proprietary fraud prevention systems it...