certify
Home arrow Article arrow Article Detail

Coinbase introduced a new feature to receive a paycheck in crypto for US workers

Profile Image

Pavan A Follow

INDIA

Sep, 30 2021

Sep, 30 2021

likes | comments 0

Article Image

Cryptocurrency enthusiasts may soon be able to have their pay checks deposited directly into Coinbase, which is collaborating with major payroll and HR firms to enable millions of workers to receive cryptocurrency payments

Coinbase is one of the world’s largest and most popular cryptocurrency exchanges said on Monday that it will enable users to deduct their pay automatically in Bitcoin or another cryptocurrency.

In a blog post, Coinbase’s vice president of product, Max Branzburg, stated: “With direct deposit, customers can more easily access our crypto-first financial services and be ready for any trade or purchase.”

He adds, “We’re determined to deliver the most trusted full suite of crypto-first financial services to our 68 million users.”

The company has announced plans to expand the service so that users can utilize the platform for more financial services. The service will be available in the next few weeks, according to the company.

Deposits can be made in US dollars or instantly converted to digital currency incurring no costs. Direct deposit will solve concerns that making a regular transaction is too time-consuming.

By following a few simple steps in the Coinbase app, users may create and change direct payments. Coinbase can automate paycheck distribution or send instructions to a company’s payroll system to allow for manual deposits.

As the firm has tens of millions of consumers in the United States, the new direct deposit option is a huge milestone for the crypto business. Even if only a small amount of people sign up, the overall demand for Bitcoin and other digital assets could rise.

The move comes as the cryptocurrency exchange faces greater regulatory scrutiny for its handling of digital currencies. Also, a slew of financial start-ups is competing for customers with traditional banks. Moreover, financial companies such as PayPal, Venmo, Square, and SoFi have been swiftly implementing crypto functionality.


likes | comments 0

Profile Image

Pavan A

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
WMG team up with OpenSea to expand Web3 opportunities 

WMG?team up?with OpenSea?to expand?Web3 opportunities for artists. This platform will enable artists to?build and extend their fanbase in the Web3 community. The nonfungible token (NFT) marketplace..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.