Tuesday, August 20, 2019

Coinbase Extends Its Crypto-to-Crypto Service To 11 More Countries

Coinbase, prominent American cryptocurrency exchange further extend its crypto-to-crypto service to 11 countries. Coinbase revealed this in a blog post published on April 17.

Extending Crypto-to-Crypto Service

Coinbase noted in the post that one year ago, the exchange served customers in 32 countries across two continents. Meanwhile, Over the past 12 months, the exchange has made working extensively on expanding the reach of its service to people in all the corners of the globe its main priority.

This has led the exchange to add 11 more countries across Latin America and Southeast Asia to the crypto-economy by allowing customers to store, trade, send, and receive cryptocurrencies on Coinbase Pro and Coinbase.com . This  increase the reach of the exchange to 53 countries, spread across four continents.

The post noted that Coinbase Customers in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand can now sign up on Coinbase.com and download its iOS and Android apps, or sign up for a Coinbase Pro account, to access crypto-to-crypto trading options.

The recent announcement will aid the service of direct trading between Cryptos which is gradually becoming the norm in the crypto space. Also in the last one year crypto-tocrypto trading has overtaken traditional fiat to crypto trading in the world and millions of coinbase users can now securely and quickly trade between different cryptos and send crypto off-platform at their convenience.

Crypto-To-Crypto Trading; Key To Decentralized Economy

Coinbase noted in the post that Cryptocurrencies are moving from the present “investment phase” into what it calls the “utility phase,” and a host number of new cases will surface, and crypto-to-crypto trading will aid the process. The exchange explained that “This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”

Also, the expansion of crypto-to-crypto service to 11 more countries is noted as a step in realizing the mission of the exchange in creating an open financial system for the world. This starts with making it as easy as possible to access crypto which its service expansion does.

Related Article:  Traffic Increases on Binance and Coinbase As Bitcoin Trading Volumes Reaches New High

Meanwhile, in recent time, Coinbase introduced several new developments, including adding support for EOS ( EOS), Augur ( REP) and Maker (MKR) and expanding into cross-border payments. The latter development reportedly enables users to send and receive money instantly, as well as convert them into local currency.

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