The feature allows customers to instantly purchase digital currency using a US bank account. Previously, customers who purchased digital currency from a bank account would have to wait several days before receiving their digital currency.
Today, Coinbase allows customers to purchase up to $25,000 and receive access to their digital currency immediately.
Coinbase in a statement announcing the new feature said:
“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,”
The feature is already live for many Coinbase customers throughout the United States. The company plans to expand its availability over the coming months.
Coinbase will send you an email when instant purchases become eligible for your account. So if you haven’t yet received an email, then you’re not yet eligible.
Coinbase also claims that the maximum instant purchase limit is $25,000. Many customers will have a lower limit, and limits vary between individuals.
Ultimately, many people are frustrated with long transaction times from their bank accounts to their digital wallets. Coinbase just made it easier to buy currency instantly – as long as you have a US bank account. It’s unclear if or when the feature will be expanding to other parts of the world.