Coinbase: instant BTC, ETH, LTC buying with bank account

Coinbase enables instant BTC, ETH and LTC purchases with a US bank account
25 October 2017   1040

One of the leading cryptocurrency exchanges, Coinbase, announces the ability for customers to instantly purchase digital currency using a US bank account. 

Previously, customers who purchased using a bank account had to wait several days before receiving their digital currency. Now, customers can buy up to $25,000 and receive access to their digital currency immediately.

Our mission is to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. Instant purchases make it significantly easier and faster for customers to invest in the digital currency ecosystem. Reducing the time to receive digital currency has been a highly requested feature and we are pleased to provide this improved experience for our customers.

David Farmer
Director of Comms, Coinbase

In its turn, this is to be a welcome addition for consumers, many of whom desire to purchase Ether so they can participate in initial coin offerings (ICOs), but do not reallize that they need to plan ahead to make sure their coins are available at the start of the ICO.

As detailed by Coinbase, the instant bank purchases are live for “many customers in the US”. The company claims that it will continue to expand the availability of this feature during the coming months.

Coinbase to Issue New Statement

As reported, company says it was wrong about SEC approval of acquisitions of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC
18 July 2018   122

Vice President of Communications of Coinbase Rachel Horwitz denied the information that the company received approval from the Securities and Exchange Commission of the United States for a deal to buy brokerage companies. This is reported by Bloomberg.

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process. The SEC’s approval is not required for the change of control application. Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.

Rachel Horwitz

Vice President of Communications, Coinbase

On Monday, a spokesman for Coinbase said that the company received permission from the SEC and the Agency for Regulation of Financial Institutions (FINRA) to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

However, despite the refutation from Rachel Horwitz, Coinbase still intends to obtain a license to carry out brokerage activities.