BLOCKCHAIN

COINBASE INTRODUCES INSTANT TRADING FEATURE AND HIGHER LIMITS: Cryptocurrency company Coinbase has announced that users will be able to trade crypto immediately after a purchase, rather than having to wait for their account funds to settle. Although the exchange supports instant wire transfers and debit cards, direct debit purchases have normally taken up to five days to appear. The new update will see customers receive credit for the funds they transfer from their bank accounts immediately, enabling new users to trade cryptos from their USD wallets straight away. However, customers will still have to wait for their funds to settle if they wish to transfer their funds off the exchange’s platform. According to a Sowa Labs survey, 66% of crypto traders expect to have their accounts opened and funds deposited in one day or less, and only 7.5% of those surveyed want to be able to trade after 3 days or more. As a result, this move is likely to help Coinbase attract active traders who currently don’t use the platform and new entrants. Along with lifting new trading restrictions, the fintech unicorn has also raised its trading limits from the previous $25,000 weekly limit, significantly increasing it to $25,000 per day instead. The company said both features will be available to US users in the coming weeks before a wider rollout.

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