Coinbase, the most popular bitcoin wallet service, provides an automatic conversion of received bitcoins into local currency. Instant Exchange is a new tool for bitcoin payments available to all local currency wallets holders. 

The company announced the launch of Instant Exchange on the corporate blog:

“We’re pleased to announce the launch of Instant Exchange, a feature that allows users to send or receive bitcoin payments while eliminating exposure to bitcoin exchange rate fluctuation.”

Instant Exchange is an additional feature of the existing Conversion service. The on the support page states that it “allows you to automatically pair bitcoin transfers to or from your Coinbase Account with corresponding bitcoin purchase or sale transactions”. 

According to the press release, the new tool supports two options. Instant Exchange Send allows sending bitcoin and paying for it in local currency with Coinbase debiting funds from user’s local currency wallet. The receiving of bitcoins is handled in the same way by Instant Exchange Receive tool. Instant Exchange also supports immediat bitcoin selling from user’s Coinbase Account. These options are only available to users who have fiat currency wallets with Coinbase. Clients with USD, EUR, and GBP wallets can test the new exchange options at the new Send screen.

Coinbase is one of the leading bitcoin wallets providers in the world. Among other features, Coinbase supports bitcoin payments for online store purchases using Fold mobile app. The company’s strong belief is that “there shouldn’t be any difference between using cash and using bitcoin”. 

Coinbase exchange offers a secure and easy way to buy and sell bitcoins online. The company operates with local banks in 24 countries. Since the autumn of 2014, Coinbase expanded to Netherlands, France, Finland, Italy, Spain, Sweden, Denmark, Switzerland, Poland and the United Kingdom.

 

Daria Petushkova