Coinbase Announces That Users Can Buy Bitcoin And Other Cryptos With GBP

Coinbase is the famous crypto exchange from San Francisco, and it just announced that users are able from now on to buy Bitcoin and other cryptos with the British Pound. Before this decision, Coinbase customers were required to keep their fiat funds in Euros.

Coinbase users from the UK will not have to convert their funds from Pounds to Euros and vice-versa.

More than this, they will get a relief from exchange rates or SEPA fees which at the time hit €10 per transaction.

Users to get access to the UK’s Faster Payments system

From now on, users will get access to the UK’s Faster Payments system and things will beco0me much smoother and fast. Customers will gain the ability to carry out same-day payments and withdrawals.

This could increase crypto transactions in the UK which is the world’s fifth biggest economy as Fortune reposts.

“UK banks have been conservative regarding working with crypto businesses, and we’re proud to be one of the first companies to get access to domestic banking,” said Zeeshan Feroz, the CEO of Coinbase UK.

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Coinbase starts with GBP trading pairs

The company said that they would start with GBP trading pairs such as GBP-Bitcoin and GBP-Ethereum in the upcoming weeks.

These pairs are the principal instrument used by traders to place their bets on crypto movements in global foreign exchange markets.

Coinbase hopes that these new offerings will also become popular among professional traders.

The crypto exchange said in July that it was planning to add more cryptos to its listing. Until now, the platform traded only Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.

In a recent blog post, Coinbase stated that it’s planning on adding Cardano, Basic Attention Token, 0x, Stellar Lumens, and Zcash.

Taking into consideration the tight regulatory constraints, probably Coinbase will first offer these tokens in the UK and Europe and then expand its offerings more.


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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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BitStarz

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