Coinbase is the most widely known cryptocurrency exchange from the USA. Now in a bid to acquire new users from new markets, Coinbase and Coinbase Pro (professional trading platform) have opened up their trading platform to customers from 11 countries.
This move takes their presence to a total of 53 countries across the world. Now users from countries such as Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand can now sign up on their website and start trading.
Direct trading between cryptos is increasingly the new norm and in the last year has overtaken traditional fiat to crypto trading across the globe. Millions of Coinbase customers can now securely and quickly trade between different cryptos and send crypto off-platform at their convenience-as reported on their blog.
Users will from these countries especially India can take advantage of these features. However, in markets such as India Binance is a highly preferred exchange that provides crypto-to-crypto trading without a mandatory KYC.
Indian users in particular also like trading on local exchanges that gives them the option to trade in and out of cryptocurrency for INR via P2P systems. So it won't be easy to capture users from these markets. But users who might be interested in Coinbase Pro account might take it up I suppose.
But I reckon, many users including myself will give it a test run at the very least.
As we can see from their verified volumes, crypto-to-crypto trades formed 51% of their trading volume in February 2019. It's likely that customers will continue trading these markets over FIAT in the long term as well.
Coinbase is available on iOS and Android, or you can also sign up for a Coinbase Pro account, to access crypto-to-crypto trading options.
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