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Your email address will not be published. Required fields are marked *

Related

New Amendment Law: Crypto Companies will Share Information of Transfers Above $250

The United States is introducing new financial laws which are also applicable to digital currencies. To curb money laundering, the US regulators have proposed an amendment in the Bank Secrecy Act, which make it a requirement to collect details about transactions, which are above $250. The US regulators also include digital currencies in the upcoming […]

Two Non-Profits Have Received $20,000 from Hackers

BBC’s report unveils that hackers have donated $20,000 in Bitcoin to two non-profits. Such kinds of unusual acts have made experts puzzled. Non-Profits: Children International and The Water Project Two non-profit organizations, Children International and The Water Project have received donation funds, which are known to be linked with criminal sources. According to BBC, the […]

Report: Bitcoin Is a More Popular Investment Tool than Gold Among Russian Investors

Russian investors see equal opportunity both in gold and cryptocurrency, new report shows. Cryptocurrency is the fifth most popular investment tool in Russia over the last 12 months. World Gold Council’s Report International organization on gold known as World Gold Council unveils new report over famous investment entities on Oct.20. The report denominates the 5th […]

Bitcoin may Claim $20,000 in Next Three Months, says Prominent Analyst

The next three months are very important as the price of Bitcoin can reach up to $20,000. After remaining in a particular range for a long time, the crypto community can see a bullish breakout soon. Breakout in Next Three Months Bitcoin has been trading between $10,200 and $11,800 since July 2020. Over the last […]

Two Global Shipping Giants Integrate with IBM’s Blockchain Network TradeLens

Blockchain technology has an exponential future as more and more global companies are embracing it. Introduced by IBM and Maersk, a blockchain platform called Tradelens welcomes two international shipping companies, CMA CGM and MSC. Shipping Giants: CMA CGM and MSC The new integration between IBM’s blockchain platform and shipping companies will onboard all data about […]