Coinbase trading support has extended to 11 more countries including Colombia, Hong Kong, and Mexico.
In a post on its official medium blog, the countries which have received the trading support are scattered across “Latin America and Southeast Asia.” Coinbase users in the new countries will be able to send, receive, trade, and store cryptocurrencies.
Notably, the support has been enabled on both Coinbase.com and Coinbase Pro. With the new additions, Coinbase trading support is now active in 53 countries scattered over four continents. In addition to Mexico, Hong Kong, and Colombia, the other supported countries are the Philippines, South Korea, Indonesia, India, Chile, Colombia, Peru, and Argentina.
However, the Coinbase trading support has only been activated for crypto-to-crypto trading. Coinbase observed that the crypto-to-crypto trading had gained momentum over fiat-to-crypto trading in 2019.
For example, the exchange noted that its crypto-to-crypto trading accounted for 51 percent of all the trading that took place on the platform on Feb this year. This is in contrast to August last year which saw crypto-to-crypto trading only account for 41 percent.
The addition of crypto-to-crypto trading on Coinbase’s retail wing, Coinbase.com, was activated towards the end of 2018 giving users a glimpse of a service that was only available to professional traders on Coinbase pro. The Coinbase trading support is also available on the exchange’s Android and iOS apps.
According to Coinbase:
Direct trading between cryptos is increasingly the new norm and in the last year overtaken the traditional fiat to crypto trading across the globe… As crypto moves from the current ‘investment phase’ into what we call the ‘utility phase,’ a host of new use cases will present themselves… Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto.
Will the Coinbase trading support increase trading activities on the platform especially from India?
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