Coinbase Announces Instant Withdrawals for Customers in Nearly 40 Countries

Cryptocurrency exchange Coinbase has introduced a faster way for users to withdraw funds. Users from 40 different countries can make instant withdrawals over Coinbase thanks to Visa and Mastercard.

Withdrawals via Visa and Mastercard

According to Coinbase’s blog post, the exchange users from the United States will be able to withdraw funds from their Mastercard, while with a linked Visa debit card, users from both US and UK can withdraw their funds. Coinbase stated:

“Coinbase offers instant withdrawals in nearly 40 countries including the US, UK, and more across Europe. Customers in the US, UK, and Europe can withdraw funds with a linked Visa debit card. In the US, customers will be able to also withdraw funds with their Mastercard.”

Fees for instant withdrawals are less for US customers as compared to EU and UK customers. The company will charge a 1.5% fee for US customers. For UK and EU customers, Coinbase will charge a fee of up to 2%.

Terry Angelos, SVP and global head of fintech for Visa, claims that users can convert cryptocurrency into fiat over 60 million merchant locations. “By enabling real-time card withdrawals through the Visa Direct capability, Coinbase is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 60M merchant locations where Visa is accepted,” said Angelos.

Sherri Haymond, executive vice president, Digital Partnerships at Mastercard said:

“Leveraging Mastercard Send following the conversion of cryptocurrency into fiat currency, Coinbase will now be able to offer its customers the ability to securely and seamlessly withdraw and use their funds wherever Mastercard debit is accepted — giving them greater flexibility and convenience to manage their financial lives.”

Coinbase also offers an option of standard withdrawal methods besides instant facility. Normally, withdrawals from exchanges to banks can take from 1-5 business days. Now, users can spend their funds instantly without having to wait for funds for days.

Leave a Reply

Your email address will not be published.

Related

ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]

Cardano (ADA) Whales on Panic Selling Mode: Here’s Why

  Cardano’s price appears to hold the line following the 57% slump to $0.384. Nevertheless, the immediate obstacle at $0.677 might limit further recovery by ADA. A daily candle closing beneath $0.397 will annul the already precarious optimistic tale. Cardano sees its price staying well beyond the latest swing low that printed a possible bottom […]