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Alternative Market Briefing

US crypto exchange Coinbase enables direct cryptocurrency conversions

Tuesday, December 18, 2018

Laxman Pai, Opalesque Asia:

San Francisco-based cryptocurrency exchange and wallet service Coinbase has launched its new "Convert" service that would allow its customers to convert one cryptocurrency into another.

The "Convert," will initially allow conversions between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), or Bitcoin Cash (BCH).

The service will also be available on their official website coinbase.com and the firm's own iOS and Android apps.

The new feature will be made available to customers in 34 different countries where Coinbase offers native payment access.

"We'll gather customer feedback along the way and continue to iterate on the feature over time. Our product teams are thinking deeply about new ways to democratize the best of cryptocurrency, and the ability to easily convert one asset to another is an important step on this path," said a statement from the company.

According to the exchange, Convert is a "natural progression" in the platform's development.

It explains: "When Coinbase was founded, the only products that connected wallets to the Bitcoin blockchain were technical and complex. We set out to build an easy-to-use, highly secure, and trusted experience for anyone to buy or sell Bitcoin. By focusing on ease of use, and designing for simplicity, we've tried to make crypto more accessible to everyone."

The announcement is the latest in the series of announcements Coinbase intends to......................

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