Coinbase Introduces Cryptocurrency Conversion Facility
Cryptocurrency exchange Coinbase introduced a new feature called Convert that can be used by customers to convert a cryptocurrency to another.
Customers can initially convert from Bitcoin (BTC) to Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), 0x (ZRX) and Bitcoin Cash (BCH).
Convert is available on Coinbase.com and iOS and Android applications. Conversions are completed immediately at a lower cost than two separate transactions.
Coinbase also indicated that the ability to convert cryptocurrencies to customers in all 34 countries where Coinbase offers native payment access will be implemented. In addition, the exchange collects customer feedback and keeps iterating over time.
In this respect, product teams are deeply thinking about new ways of democratizing the best cryptocurrency, and the ability to easily convert one asset to another is an important step in this direction.
Coinbase pointed out that at the time of its establishment, the products that connected wallets to the Bitcoin blockchain were technical and complex. This made it easy to use, highly secure and confident to buy or sell Bitcoin for anyone.
By focusing on ease of use and simplicity of design, we have tried to make crypto more accessible to all. This latest feature, which enables customers to convert directly from one crypto to another, is a natural development of this journey.