Coinbase adds British pound for English crypto users!
The old system was sluggish and inconvenient
Coinbase ensures that the deposits and withdrawals take place almost immediately on the same day. Coinbase manager Zeeshan Feroz writes that this system will replace the previous method. Under the old system, customers had to exchange cryptocurrencies first in euros before they could convert these euros into pounds again. This process took a number of days. It was awkward.
Feroz writes that it has even more advantages than just the speed:
“Customers can now deposit and withdraw sterling for the first time and buy and sell cryptocurrency immediately. Customers will not only benefit from higher speeds, but also from lower costs. GBP to euro and vice versa to add and remove money, there will no longer be exchange rates.”
Institutional crypto investors also benefit!
At the time of writing, the roll-out of the new system has already been set in motion. Many customers can already manage their British pound portfolios. In the coming weeks all UK users will have access to the new system.
It not only helps individual investors.
Institutional customers also benefit greatly from the new system. Investors are able to buy and sell almost immediately. The transfer of money is now also a lot faster. This is very important for large traders and institutional investors. These investors must be able to enter and exit at lightning speed.
Coinbase is expanding its services in England and Europe. We are therefore curious what else is on the horizon.