On Wednesday, The Daily features a couple of announcements from Coinbase: the US crypto exchange enables instant purchasing with increased daily trading limits and is now accepting ETC deposits on its Coinbase Pro platform. We’ve also covered the opening of ABCC’s European headquarters in Malta and Omniex’s decision to appoint two former regulators as advisors.
Also read: Robinhood Reaches Iowa and Georgia, Coinbase Returns to Wyoming
Coinbase Enables Instant Purchasing, Increases Trading Limits
Users of Coinbase will be able to buy digital coins right after they deposit funds from their bank account, the platform explained in a blog post published on Tuesday. “Starting today, we are rolling out the ability to trade cryptocurrency immediately after a purchase — no more waiting five days for funds to settle,” the announcement reads.
While the platform supports instant transfers via wire transfer and debit cards, purchases via direct debits from a bank account used to take days. The change means that from now on the USD balances will be credited immediately for the amount customers have sent from their accounts. They’ll be able to buy cryptos but won’t have the option to withdraw before the funds from their bank are settled.
The company also announced an increase of the daily trading limits for US users. The functionality will be available over the next few weeks. For verified customers, the maximum allowable purchase will jump from $25,000 weekly to $25,000 per day. The exchange also noted that once the funds are transferred to Coinbase, there are no longer any limits to how much users can buy or sell at a time.
Initially, the instant purchasing, new trading limits, and the ability to withdraw coins will be available only to US customers who have completed the identity
