Coinbase adds ‘Convert’ service

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Coinbase has just launched a ‘Convert’ service, according to a statement on 17th December. This new feature will allow customers to convert one cryptocurrency into another.

According to the statement, “Initially, customers can convert between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX), or Bitcoin Cash (BCH). Converting is available on Coinbase.com and in the iOS and Android apps. Conversions complete instantly and at a lower cost than if done via two separate transactions. For more details, please visit the Coinbase Pricing & Fees Disclosures webpage.”

Over time it is rolling out the service to customers to the 34 countries where Coinbase operates and offers native payment access. Coinbase said, “

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.”

As Cointelegraph comments, since Dec. 10, Coinbase has been rolling out new offerings as part of its “12 Days of Coinbase” promotional campaign named in reference to a traditional Christmas song. On Dec. 14, the exchange introduced fiat withdrawals to payment service PayPal. Coinbase and PayPal attempted this in 2016, but it was stopped due to technical problems, however, now it is available again.

There are still four more ‘gifts’ to come from Coinbase for Christmas 2018 — who can guess what they might be?

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