Coinbase To Start Boosting Crypto Purchase Limits
Coinbase is set to begin boosting its daily purchase limits. The new development by the crypto startup is aimed at boosting "instant" trading. This follows client bank transfers.
At the moment, Coinbase users are required to wait for five days before funds are settled. However, this will change with the new announcement. After signing up, nobody will wait before buying digital currencies.
In a statement released on Tuesday, Coinbase said that instant transfers are allowed but take time to reflect. Clients will be able to purchase currencies from USD wallets. The firm added that daily purchases will be raised to $25,000. However, this feature will only be available to users who have gone through the verification process fully. Plans are also underway to ensure that clients living outside the US get to enjoy the new features.
A representative from the firm noted that the changes are based on a six-year history of solely dealing with cryptos and establishing a trusted exchange platform globally.
The platform seeks to have mechanisms in place that will detect fraud through machine learning. In the last 12 months, the firm has to been focused on improving user experience and sealing fraud loopholes.
Elsewhere, Coinbase has launched ethereum classic on Coinbase Pro. The process has four phases – transfer-only, post-only, limit-only and full trading.