A new feature from Coinbase enables customers of the crypto exchange to have faster payouts.
The Coinbase crypto exchange now enables its customers to transfer crypto assets to bank accounts even faster in a special way
The crypto trading platform makes these accelerated withdrawals available in 40 different countries, as Bitcoin Trader writes in a corresponding one. „Customers in the USA, Great Britain and Europe can now withdraw their funds with a connected Visa debit card,“ as it is called. And further: „In the USA our customers can also use a Mastercard for this.“
However, there is also a small catch to this way, because American users have to pay a fee of 1.5% for this, while users in the EU and Great Britain pay 2%
It usually takes between one to five working days for a crypto withdrawal from Coinbase to be fully processed. The users of the crypto exchange inevitably have to accept this waiting time if they want to write off their crypto funds. With the new option via the debit card, however, this process is now much faster because the transferred funds are immediately available.
The advantages of cryptocurrencies include their efficiency and transaction speed. Bitcoin transactions usually take time at banks. However, Bitcoin often has to interact with the traditional banking system, which in turn limits the speed of the cryptocurrency. With this new function, Coinbase now makes the full speed of Bitcoin and Co. usable.