Coinbase Improves and Adds Crypto-to-Crypto Trading

Coinbase

Coinbase is now new and improved—watch out Binance! The US’s most popular cryptocurrency exchange announced yesterday it has added crypto-to-crypto trading.

Coinbase Crypto-to-Crypto Trading

Starting today on the exchange, investors are now able to convert between six different digital currencies. This is all part of the company’s new marketing initiative, called the ’12 Days of Coinbase.’ Each day at noon PST, the company plans on announcing new features, support for new digital currencies and more.

All crypto-to-crypto conversions are completed instantly, and it will cost less than performing two separate transactions. Coinbase is charging a 1% spread for the conversion. This fee is not fixed and could go up and down due to the volatility of the market. Currently, this feature is only available to US investors. The cryptocurrency exchange hopes it can roll out this feature soon to the other 34 countries it operates out of.

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The other major update to the platform has been instant PayPal withdrawals and today’s announcement has yet to come.

>> Bitcoin Price Approached $20K in Dec. 2017 and Now It’s At $3K

Binance vs. Coinbase?

Once the announcement spread of the crypto-to-crypto trading that is now available on the US exchange, a major debate sparked in the crypto community.

However, the CEO of Binance quickly shot down the debate. Maybe his company is feeling some pressure?

According to CoinMarketCap, Binance still remains the top used digital currency exchange. Its 24-hour trade volume is sitting just under $1 billion. Coinbase Pro is currently the 23rd largest cryptocurrency exchange on the index by 24-hour trade volume. Doesn’t seem like much of a competition if you ask me. Binance has far more coins to choose from, although Coinbase is working on adding new altcoins to its platform as we speak.

Earlier this month, Coinbase announced it’s exploring adding an additional 30+ coins to its platform.

Featured Image: Depositphotos/Piter2121

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