Exchange News

Coinbase retail customers to enjoy a feature previously reserved for professional traders

The ’12 Days of Coinbase program’ is adding yet another feature to the exchange. This feature will allow Coinbase retail customers to also enjoy trading between cryptocurrencies. This feature was previously reserved for professional cryptocurrency traders on the platform.

According to a post on the official Coinbase Medium page:

“As a crypto-first company, it’s important that we build features that let people take advantage of the unique attributes of cryptocurrency. That’s why we’re beginning to roll out a new feature called Convert, which customers can use to convert one cryptocurrency into another.”

Anna Marie Clifton, the product manager at Coinbase, while speaking to Coindesk, noted that allowing Coinbase retail customers to trade between cryptos is a feature that is ‘pretty advanced.’

Clifton continued to say that although crypto-to-crypto trading is being offered by other cryptocurrency exchanges, it seems to have a disconnection with the broader retail audience.

For a start, Coinbase retail customers will enjoy trading between Bitcoin and Ethereum, Litecoin, 0x, Bitcoin Cash, or Ethereum Classic. The Coinbase Convert feature will be available on Coinbase.com and on Android and iOS mobile applications.

The product manager said that opening up Coinbase retail customers to crypto-crypto trading was influenced by the feedback they got from their customers.

Coinbase continued to note that they will:

“Be gradually rolling out the ability to convert cryptocurrencies to customers in all 34 countries in which Coinbase offers native payment access. We’ll gather customer feedback along the way and continue to iterate on the feature over time. Our product teams are thinking deeply about new ways to democratize the best of cryptocurrency, and the ability to easily convert one asset to another is an important step on this path.”

Do you think this feature will increase the number of Coinbase retail customers?

Let us know your thoughts in the comments section below.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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