Major bitcoin exchange Coinbase informed on Wednesday that its clients can now send and receive bitcoins and cash out swiftly to currencies as the US dollar, euro or sterling (USD, EUR, GBP resp.). Thus Coinbase became the first major bitcoin exchange regulated in the and and expanded services in the UK as well (in April).
First of the new features is the sending possibility ‘Instant Exchange send.’ You can send bitcoin and pay for it with your local currency on the same page. COinbase is there to execute this order and buy instantly in the background for you via debiting funds from your currency wallet with possible currencies mentioned above (USD, EUR, GBP).
Second one is the ‘Instant Exchange receive’ feature, where the case of receiving a bitcoin payment is took into account. If you you receive such transaction, Coinbase will execute this order and sell instantly in the background within few seconds. Such sell will credit funds to your currency wallet in the picked currency.
This may be found simply by clicking on the ‘Instant Exchange’ link on your currency wallet, which will show a bitcoin address. Any bitcoin, which will be send to this address, will be immediately sold and credited to your wallet.
Previous way included merchant at the point of sale, which enabled traders to automatically convert received bitcoin into their local currency, but now ‘Instant Exchange’ is provided for everyone who has local currency wallet.
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