Cryptocurrency exchange and trading platform Coinbase has increased its crypto buying limits and enabled immediate trading capability. Usually, users would wait for five days before starting to trade on the platform after the initial deposits. However, the company stated that the improvement will be available for US customers within the next few weeks.
Coinbase Increases daily buying Limits and enable Instant Trading
Coinbase announced that it is boosting its daily purchase limits to enable instant trading after the initial deposit. Currently, new deposits on the platform wait up to five days before being eligible to trade. The company realized they could be losing potential clients with this delay given the level of services competitors offer.
According to a note from a Coinbase spokesperson, the platform supports instant transfers via wire transfer and debit cards. He stated that purchases via direct debits from user bank accounts take days to settle. With the current boost, coinbase customers will receive an instant credit for funds being sent from their bank accounts. With this users can buy cryptocurrency to and from their USD fiat wallet instantly though they won’t be able to move funds off the coinbase platform until the bank transfer settles in.