COINBASE Now Allows Buying And Selling Cryptos By Using British Pounds
Coinbase, a secure online platform for buying, selling, transferring and storing digital currency, facilitates the process of buying and selling crypto-currency for the British. The exchange office announced that now it supports deposits and the withdrawal of the pound sterling on its platform.
Coinbase’s online platform has already begun to implement this feature for its UK customers, but it may take several days before the feature is available to all users across the country.
The new system is currently only available in the UK, but Coinbase says it intends to introduce similar in other countries.
The new integration is based on Faster Payments system which is one of the fastest transfer systems and has a maximum transaction limit of £ 250,000 per transaction.
This means that the built-in support for the pound, deposits and withdrawals will no longer be subject to conversion fees and appropriate bank exchange rates.
Traditionally, Coinbase users have been dominated by slow, cumbersome and often expensive international bank transfers. Thus, simpler, faster transactions will be great news for all users in the UK, especially for high-frequency traders, who no longer have to wait a few days to cash out.