A Lot Of Good News From Coinbase This Week
August 9, 2018 BY Chris Perrotta
Coinbase begins the process of full trading for Ethereum Classic (ETC), allows instant buy/sell, and increases the limits of most US customers to $25,000 per day.
Along with the addition of Ethereum Classic (ETC) trading on Coinbase Pro, Coinbase announces instant buy/sell, and daily limits to $25,000. With the recent cliff dive the market has decided to put us through, this news has gone completely under the radar, as expected.
In recent times, investors have been able to buy coins on Coinbase and immediately send those funds wherever he/she chooses, but this was not always the case. During the bull run in late 2017 and early 2018, funds were usually locked up for about five days after purchase, now those times are finally over. It is important to note however, this only works with debit cards and wire transfers (once the wire clears).
In addition, they have increased the limits of most US customers from $25,000 weekly to $25,000 daily. While this doesn’t affect as many people as instant buy/sell, this is still good news for many people who have been in the space for a while because trading a Bitcoin back in December would have eaten up their entire limit.
After the announcement this weekof Ethereum Classic (ETC) being listed, the asset is since Tuesday available on Coinbase Pro for deposit. Trading will follow shortly after as long as there is enough liquidity.
Whether you like Coinbase or not, it is still probably the best platform to buy and sell crypto. Many other companies like Robinhood and Circle are moving in the right direction but, for now, the lack of the ability to move funds off of their platforms places them behind Coinbase (in my opinion). Until that changes, expect Coinbase to continue their dominance in the space.